Newbie needs help to get started

1. Where do you purchase your foreign currency?

I need some help to get started.

Long version of the story...
I started working on a prototype for an educational simulation and
needed to purchase some quantity of inexpensive foreign notes and
coins from several countries. I contacted my bank (a secure and
trustworthy source) and have ordered some VND from Vietnam. However,
my bank does not offer GHC from Ghana or IRR from Iran or LAK from
Laos or ZWD from Zimbabwe, etc.
And unfortunately, the exchange rate that my bank offers is not as
good as the exchange rate on Yahoo, Blommberg, etc. (but at least I
do not have to pay a shipping charge). Also, unfortunately, my bank
does not allow me to specify the specific denomination of bills that I
want (which I think will turn out to be a BIG problem).
Also, unfortunately, my bank does not offer coin at all (I guess
because of the shipping costs).

So, as I was looking for more inexpensive currencies that my bank
could actually get, I started investigating African countries and
stumbled across the notes for South Africa. Which are not inexpensive
enough for my prototype but seem very cool. So, I think that the bug
has bitten me. And now I am interested in obtaining currency not only
for my prototype but also interested in obtaining a wider range of
currency to start my collection.

So, then I started wondering how note collectors purchased their notes
and are there better sources (than my bank)?? And how do coin
collectors obtain their foreign coins? I am guessing that shipping
costs make obtaining foreign coins EXTREMELY expensive?

So, can you tell me how/where you buy your foreign notes/coins? And
can you point me to any free resources where I can study how to go
about starting this hobby?

Note that I am not interested in doing foreign exchange to generate
vast sums of money. And I am not interested in making this a
business. So, please do not bother to spam me with those kinds of
offers. Also, not interested in gold/silver, etc.

On Apr 3, 1:14 pm, "WisdomSeeker"
wrote:
1. Where do you purchase your foreign currency?

I need some help to get started.

Go to my Banknote Collectors Directory for a list of paper money
dealers
http://tomchao.com/directory2.html

I looked on Yahoo Yellow pages and did a search for nearby cities and found
a local coin shop, and they had a website, so I emailed them and asked if
they had foreign money since I want to collect low-value foreign currency
and coins for interest until I have more money to spend on higher costing
proof sets etc. (I also wanted to find wheat pennies). I wasn't crazy about
their wheat penny prices- I still have not visited the shop yet- but they
told me they have bins of foreign coins for 15 cents each. So, that's how I
am starting.

So maybe you can call around at local coin shops?

If you want specific notes, your best bet is to buy from eBay or a local
dealer.

If you just want to get your feet wet and get a great sample of inexpensive
world notes, many dealers offer starter packs of 100 different world notes
for $20 or so. You'll be getting a bunch of el cheapo pieces that you'll
ultimately outgrow, but it's a fun way to see a bunch of different designs
without spending a lot of money.

Good luck, and be sure to consider joining the IBNS eventually when you
become a collector for real.


On 4/3/07 10:14 AM, in article
, "WisdomSeeker"
wrote:

1. Where do you purchase your foreign currency?

I need some help to get started.

Long version of the story...
I started working on a prototype for an educational simulation and
needed to purchase some quantity of inexpensive foreign notes and
coins from several countries. I contacted my bank (a secure and
trustworthy source) and have ordered some VND from Vietnam. However,
my bank does not offer GHC from Ghana or IRR from Iran or LAK from
Laos or ZWD from Zimbabwe, etc.
And unfortunately, the exchange rate that my bank offers is not as
good as the exchange rate on Yahoo, Blommberg, etc. (but at least I
do not have to pay a shipping charge). Also, unfortunately, my bank
does not allow me to specify the specific denomination of bills that I
want (which I think will turn out to be a BIG problem).
Also, unfortunately, my bank does not offer coin at all (I guess
because of the shipping costs).

So, as I was looking for more inexpensive currencies that my bank
could actually get, I started investigating African countries and
stumbled across the notes for South Africa. Which are not inexpensive
enough for my prototype but seem very cool. So, I think that the bug
has bitten me. And now I am interested in obtaining currency not only
for my prototype but also interested in obtaining a wider range of
currency to start my collection.

So, then I started wondering how note collectors purchased their notes
and are there better sources (than my bank)?? And how do coin
collectors obtain their foreign coins? I am guessing that shipping
costs make obtaining foreign coins EXTREMELY expensive?

So, can you tell me how/where you buy your foreign notes/coins? And
can you point me to any free resources where I can study how to go
about starting this hobby?

Note that I am not interested in doing foreign exchange to generate
vast sums of money. And I am not interested in making this a
business. So, please do not bother to spam me with those kinds of
offers. Also, not interested in gold/silver, etc.

On 3 Apr 2007 10:14:39 -0700, "WisdomSeeker"
wrote:

1. Where do you purchase your foreign currency?

I need some help to get started.

I started my collection with a 600 piece all-different lot (basically
amounts to an "instant collection"
then started buying individually on eBay


if you decide to start with a lot like that, make sure it actually
says "all different". Some large lots have duplication, for example
1000 notes containing 10 each of 100 different notes.
Also I'd recommen getting the biggest lot you can afford.

Also get a copy of, at the very least, Vol 3 of the standard catalogue
(it lists all the recent and current isues from 1961 to the present).
A catalogue is essential to avoid being overcharged, since a lot of
the stuff on ebay is overpriced. I sue the catalogue price as a
"ceiling price (i.e., never pay more than that for anything).

"Owen W. Linzmayer" wrote

If you just want to get your feet wet and get a great sample of
inexpensive
world notes, many dealers offer starter packs of 100 different world notes
for $20 or so. You'll be getting a bunch of el cheapo pieces that you'll
ultimately outgrow, but it's a fun way to see a bunch of different designs
without spending a lot of money.


Are there any online (reputable) dealers that do this? I have not made it to
a local dealer I found which is actually a "gun and coin" shop. I wonder how
into the coin part of it he is, a picture of the shop shows a rack of gun
magazines at the counter. But at least my husband will tag along with me,
he'll have something to look at. eyeroll

The dealer is very nice in emails and told me to come in sometime and take a
look. He didn't specify what they have, just that there are bins of foreign
coins for 15 cents. I'm sure I'll find something in there I like, as long as
they're not all Canadian pennies or something.

I can't afford anything more right now because I just bought something else,
but was wondering if any of you have any particular preferences for online
stores (dotcom websites, not Ebay stores, unless there's an exceptionally
good seller) to buy coins from- and again, this is not for pricey rare
high-dollar coins. Maybe this will help the original poster out as well.
What *I* am looking for in an online store- reasonable shipping prices and
reasonable prices for their items, not absurdly overpriced common items. But
I'm looking for stores that sell foreign common currency reasonably so one
can get a wide range of countries, and also I would like to be able to buy
some sets that came from the US Mint (proofs) that I missed out on without
paying 3 times over for it...etc.

I'm interested in starting foreign currency/coins from several
places/regions in particular- Caribbean and South Pacific islands,
Australia, England, Ireland, Scotland, (especially Ireland)... I placed a
small order for US stuff from goldeneaglecoin.com but have not received the
order yet to comment. I see other online stores with higher prices for the
same stuff...if not the US Mint website, where do you order from?

"WheatPenny" wrote
A catalogue is essential to avoid being overcharged, since a lot of
the stuff on ebay is overpriced. I sue the catalogue price as a
"ceiling price (i.e., never pay more than that for anything).


I am not sure I have seen anything on Ebay yet that is NOT overpriced by at
least 3 times what it should be and often more. It wouldn't be so bad if you
are missing one or two pieces from having a complete collection of something
and you might be ok with paying the price just to complete your set but
darn...not knowing anything about coins yet I will pull up an auction, and
then go search for its value elsewhere and it always seems to be at minimum
3 times higher plus outrageous shipping.

And another thing-- I can't afford a busload lot of anything, so how in the
world can sellers charge- with a seemingly straight face- $25 shipping for a
few pounds of coins?? When their coins are already priced high enough that
they profit even with FREE shipping? I still say the most bizarre was ONE
roll of 50 pennies going for $11.95 shipping. But I've seen something like,
oh....10 rolls list a $25 shipping charge. And it was from my state.

Unfortunately the IBNS is not run by "real" collectors but by those on some
kind of ego/power trip.

Membership has no relation to how "real" a collector you become.

Billy


"Owen W. Linzmayer" wrote in message
...
If you want specific notes, your best bet is to buy from eBay or a local
dealer.

If you just want to get your feet wet and get a great sample of
inexpensive
world notes, many dealers offer starter packs of 100 different world notes
for $20 or so. You'll be getting a bunch of el cheapo pieces that you'll
ultimately outgrow, but it's a fun way to see a bunch of different designs
without spending a lot of money.

Good luck, and be sure to consider joining the IBNS eventually when you
become a collector for real.


On 4/3/07 10:14 AM, in article
, "WisdomSeeker"
wrote:

1. Where do you purchase your foreign currency?

I need some help to get started.

Long version of the story...
I started working on a prototype for an educational simulation and
needed to purchase some quantity of inexpensive foreign notes and
coins from several countries. I contacted my bank (a secure and
trustworthy source) and have ordered some VND from Vietnam. However,
my bank does not offer GHC from Ghana or IRR from Iran or LAK from
Laos or ZWD from Zimbabwe, etc.
And unfortunately, the exchange rate that my bank offers is not as
good as the exchange rate on Yahoo, Blommberg, etc. (but at least I
do not have to pay a shipping charge). Also, unfortunately, my bank
does not allow me to specify the specific denomination of bills that I
want (which I think will turn out to be a BIG problem).
Also, unfortunately, my bank does not offer coin at all (I guess
because of the shipping costs).

So, as I was looking for more inexpensive currencies that my bank
could actually get, I started investigating African countries and
stumbled across the notes for South Africa. Which are not inexpensive
enough for my prototype but seem very cool. So, I think that the bug
has bitten me. And now I am interested in obtaining currency not only
for my prototype but also interested in obtaining a wider range of
currency to start my collection.

So, then I started wondering how note collectors purchased their notes
and are there better sources (than my bank)?? And how do coin
collectors obtain their foreign coins? I am guessing that shipping
costs make obtaining foreign coins EXTREMELY expensive?

So, can you tell me how/where you buy your foreign notes/coins? And
can you point me to any free resources where I can study how to go
about starting this hobby?

Note that I am not interested in doing foreign exchange to generate
vast sums of money. And I am not interested in making this a
business. So, please do not bother to spam me with those kinds of
offers. Also, not interested in gold/silver, etc.

On Wed, 4 Apr 2007 15:01:51 -0400, "blue"
wrote:


"WheatPenny" wrote
A catalogue is essential to avoid being overcharged, since a lot of
the stuff on ebay is overpriced. I sue the catalogue price as a
"ceiling price (i.e., never pay more than that for anything).


I am not sure I have seen anything on Ebay yet that is NOT overpriced by at
least 3 times what it should be and often more. It wouldn't be so bad if you
are missing one or two pieces from having a complete collection of something
and you might be ok with paying the price just to complete your set but
darn...not knowing anything about coins yet I will pull up an auction, and
then go search for its value elsewhere and it always seems to be at minimum
3 times higher plus outrageous shipping.


I've gotten a lot of pretty good deals on ebay I got an 1842 SL dolar
, VG for $75, some notes worth in the dollar range for 25 or 30
cents, etc




And another thing-- I can't afford a busload lot of anything, so how in the
world can sellers charge- with a seemingly straight face- $25 shipping for a
few pounds of coins?? When their coins are already priced high enough that
they profit even with FREE shipping? I still say the most bizarre was ONE
roll of 50 pennies going for $11.95 shipping. But I've seen something like,
oh....10 rolls list a $25 shipping charge. And it was from my state.


Try to buy multiple items from people who combine shipping to save on
that, and of course avoid the ones with that $25 shipping
(unles you're having it hand delivered by the postmaster general in a
gold-plated box)...

While I agree that you should arm yourself with the Standard Catalog of
World Paper Money (SCWPM for short), I don't agree with the pricing.

Pricing in the catalog has been widely criticized for good reason. Some
items are overpriced, others are underpriced. As with anything else in life,
compare prices at multiple sources before spending any real money on a note
you want. Good mail order dealers tend to price fairly and don't rip off
unsuspecting newbies the way eBay sellers often do.

Also, if you can wait a month or two, hold off on buying the catalog. Krause
is about to release the 13th edition of the SCWPM Volume III, Modern Notes.
No sense buying 12th edition if an update is right around the corner.


On 4/4/07 9:14 AM, in article ,
"WheatPenny" wrote:

On 3 Apr 2007 10:14:39 -0700, "WisdomSeeker"
wrote:

1. Where do you purchase your foreign currency?

I need some help to get started.

I started my collection with a 600 piece all-different lot (basically
amounts to an "instant collection"
then started buying individually on eBay


if you decide to start with a lot like that, make sure it actually
says "all different". Some large lots have duplication, for example
1000 notes containing 10 each of 100 different notes.
Also I'd recommen getting the biggest lot you can afford.

Also get a copy of, at the very least, Vol 3 of the standard catalogue
(it lists all the recent and current isues from 1961 to the present).
A catalogue is essential to avoid being overcharged, since a lot of
the stuff on ebay is overpriced. I sue the catalogue price as a
"ceiling price (i.e., never pay more than that for anything).