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Coins & Currency > The Official Blackbook Price Guide to U.S. Paper Money 2008, 40th Edition

The Official Blackbook Price Guide to U.S. Paper Money 2008, 40th Edition

BUYING PAPER MONEY Browsing in coin shops is the usual way in which beginners start buying paper money. Just about every coin dealer— and many stamp dealers—stock paper money to one degree or another, from a single display album with elementary material to vaults filled with literally millions of dollars worth of specimens. Be observant of condition when shopping from dealers’ stocks. Get to know the dealer and become familiar with his grading practices. Some dealers will grade a specimen higher than another dealer, but this may be offset by the fact that they charge a lower price. Bargains. Is it possible to get bargains in buying paper money? To the extent that prices vary somewhat from dealer to dealer, yes. But if you’re talking about finding a note worth $100 selling at $50, this is unlikely to happen. The dealers are well aware of market values, and the slight price differences that do occur are merely the result of some dealers being overstocked on certain notes or, possibly, having made a very good “buy” from the public. What may appear to be a bargain will generally prove, on closer examination, to be a specimen in undesir-able condition, such as a washed bill on which the color has faded. Auction sales. Many coin auctions feature selections of paper money, and there are occasional sales (mostly of the postal-bid variety) devoted exclusively to it. There is much to be said for auction buying if you have some experience and know how to read an auction catalog. 33

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