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The first two things that you need to decide when you think about starting to collect Currency are what type, U.S. or foreign, and what denomination(s). For our purposes, we'll just discuss U.S. Currency.
You also need to determine if you want to specialize, such as unique serial numbers, errors, and Star Notes.
When a note is found to be defective after printing, it is destroyed and a Star Note is printed with the same serial number. The Star is after the serial number on Federal Reserve Notes and before the serial number on other types of Currency.
As with other types of collecting, you need to study and become familiar with the facts. The best way to accomplish this is through online sources and books. Three (3) excellent books from which to choose are "The Official Red Book: A Guide Book of U.S. Paper Money", "The Official Blackbook Price Guide to U.S. Paper Money", and "Paper Money of the United States: A Complete Illustrated Guide With Valuations".
But first, you need to determine a budget you should stick to when buying new additions to your collection; when selecting notes consider eye appeal and quality.
As with coins, you should use clean white cotton gloves when handling Currency. Plus, do not bend any note.
Storage and preservation also is something you must consider. We'll cover that in an upcoming Collecting Tip.
Last but not least, set some short term and long term goals. Write them down and then check them off as you accomplish each. You should continue to add goals as you achieve the ones you have listed.
A hobby is to be enjoyed, and Currency Collecting is no exception!
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