Collecting World banknotes Quiz

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What strategies could one use to turn his/her collection into an investment

A great strategy to collect world currency would be:

4 points

Column 1

hit the Exchange houses as often as possible

save your currency from countries visited

get as many low denominations as one can

learn what nations collectors seek

buy circulated lots on eBay

Clear selection

My 2nd priority to collecting currency is:

3 points

hang out at casinos & try to get my hands on as much circulated cash as possible

get a catalogue and start buying banknotes on eBay according to denominations

learn what special serial numbers and prefixes are sought after by other collectors

ask everyone I know to swap me their old unwanted banknotes

join a FaceBook group, peruse Youtube and start buying according to my gut feeling

Other:

Clear selection

The best deals online are:

3 points

found on local meet-in-person sites like Kijiji

BIN listings from sellers who warn "images for reference only & not representative of note sold"

Sniping (last second bidding) on True Auction style Listings of TPG notes on consignment

bidding well ahead of everyone on Auction house (Heritage, Spinks) items

access to online tools such as catalogues, forums, auction platforms, etc

Clear selection

The Book Value (BV) of any banknote is :

3 points

the price you can expect to pay for any banknote

a guide to what a collector might pay for a banknote in a particular grade

the fair market value of a banknote according to a note's popularity

an online tool which catalogues a particular rare note for the collector

what people expect to pay for a particular banknote because its so popular

Clear selection

TPG banknotes are:

3 points

Third Party Graded, ensuring buyers that A note has been certified as ___ grade

The Paper Goods, ensuring buyers that A note is indeed genuine and not fake

The Popular Grade, ensuring collectors that they're getting a desirable banknote

The Purchased Goods, ensuring that the banknote hobby stays healthy

The Precise Grade, insuring collectors against forged or doctored banknotes

Clear selection

Novelty, fantasy & notes stamped, or are in folders:

3 points

are highly sought after by most collectors

are the realm of world banknote collectors who seek souvenirs

are popular because the BEP shops & most sellers recommend them

are special because of their folder & stamps and should cost more

are typically a gimmick, tricky to sell later, and should be avoided

Clear selection

Storing banknotes correctly:

3 points

is a waste of time and money (spend every dollar on more notes)

buy only circulated limp banknotes so storing/preserving won't be an issue

means keeping banknotes in PVC/acid-free currency sleeves & in a dry place

is a waste of money since banknotes need to be flattened & kept in books

means taping them in a scrapbook or photo-album & leaving them in the basement

Clear selection

Serious collectors recommend high grade because:

3 points

it's a waste of money (just go to the bank & withdraw foreign exchange banknotes)

circulated banknotes are just as uncommon as uncirculated banknotes

they're in cahoots with the dealers and get a kickback "at the end of the day."

they believe these notes can be handled a lot more before they become limp

high grade banknotes are tougher & tend to INCREASE in Book Value most

Clear selection

TPG collections are a great investment because:

3 points

they're not a good investment. Stick to stocks and bonds!

you can check their population reports since you buy the holder (not the note)

they're easiest to sell since future buyers will have more confidence in TPG notes

they're easy to buy as they're typically the cheapest & most common notes

money is money and too many are printed to be a good investment

Clear selection

Collecting world banknotes is advantageous because:

2 points

they're not a good investment. Forget about em & stick to your own country!

they often are ignored by serious collectors

World collectors focus on materials, designs, denominations & less important factors

their value may be difficult to ascertain & collectors overlook the less common varieties

Global market trends affect prices, & since 3 & 4 are true, they maybe a good investment

Clear selection

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