Misplaced Pages

#624375

22-444: It is believed that people have been collecting paper money for as long as it has been in use. While people began collecting paper currency more systematically in the 1940s, the turning point occurred in the 1970s when notaphily was established as a separate area by collectors. The term was coined in 1970 by Robert Stanley, a linguist then employed as Public Relations Manager of the collectors and investments firm Stanley Gibbons , in

44-429: A VF one. For notes seldom found in uncirculated condition, the premium may be even higher. The difference between Gem Uncirculated and Uncirculated can also be substantial. As a result, buyers are at risk of grade inflation , in that a dealer failing to notice a fold in an AU note and passing it off as UNC will undoubtedly feel justified in charging a higher price. Bank notes below VF are usually considered undesirable in

66-478: A collection, and are generally purchased where better-quality examples are either unavailable due to their scarcity or simply beyond the collector's budget. Common notes in such poor condition, however, are effectively unsaleable for anything above their face value (assuming they are still legal tender). Various third party grading companies (TPG) offer the service of authentication, grading and cataloging of common varieties of paper currency. These TPGs typically use

88-518: A few other countries including Japan, Britain, France, and the US. A Defence canteen order was a variant of a postal order used in Australia during World War II . Purchased at a post office, it was payable to an enlisted person in goods from a canteen rather than being a cash instrument. Postal orders are gaining in popularity as collectibles, especially among numismatists who collect banknotes. There

110-412: A note in a slab can provide some additional comfort for the owner in justifying the purchase and cost. It also serves to help protect the collector against unethical activities designed to increase the worth of the note by pressing out folds, washing, repairing tears, or other alterations typically viewed as unacceptable thereby lowering the value of the item. The vast majority of banknotes are sold using

132-466: A note with a noticeable counting fold). Certain vendors and auctioneers break the UNC grade down further, into three grades: Most collectors will always prefer an Uncirculated note, and these notes command substantial premiums over lower grades. A note in UNC condition is generally worth up to ten times more in this condition compared with merely VG (Very Good). An UNC note can be worth three times as much as

154-439: A seventy-point grading scale to describe the note. Additional notations may be made for exceptional paper quality or other varieties. Following examination, TPG companies typically encapsulate the currency in what is commonly referred to as a "slab." Similar to the issues surrounding the transition that occurred within the coin collecting field many years ago, controversy exists about the need or value of TPG notes. Without having

176-538: A successful attempt to formalise and encourage interest in the area. The term 'philanoty' had been considered, but 'notaphily' was preferred because of its assonance with the familiar 'philately'. At the same time, some developed countries such as the United States , Germany and France began publishing their respective national catalogues of paper money, which represented major points of reference literature. In 1961, The International Bank Note Society, (IBNS),

198-591: Is an active numismatic organisation in the UK called the Postal Order Society that was established in 1985 with members both domestically and overseas. They hold twice-yearly postal auctions of postal orders and related material from across the British Commonwealth. Despite competition from cheques and electronic funds transfer , postal orders continue to appeal to customers, especially as

220-655: Is payable to the named recipient at another post office. A fee for the service, known as poundage , is paid by the purchaser. In the United States, this is known as a postal money order . Postal orders are not legal tender , but a type of promissory note , similar to a cheque . The postal order is a direct descendant of the money order , which had been established by a private company in 1792. During World War I and World War II, British postal orders were temporarily declared legal tender to save paper and labour. Postal orders can be bought and redeemed at post offices in

242-766: The United States Postal Service , and the United States Postal Service requires a purchaser to know, in advance, where presentment of the instrument will occur. Only special, more expensive United States International Postal Money Orders may be presented abroad. In the United States, international money orders are pink and domestic money orders are green. Canada had its own postal orders (called postal notes) from 1898 until 1 April 1949, when these were discontinued and withdrawn. A British Forces Post Office in Suffield, Alberta

SECTION 10

#1732780122625

264-433: The UK, although a crossed postal order must be paid into a bank account. Until April 2006 they came in fixed denominations though an amount of any value less than the next higher fixed denomination could be produced by adding one or more postage stamps in the space on the postal order that was designated for that purpose, but due to increased popularity they were redesigned to make them more flexible and secure. They now have

286-890: The Uncirculated–Poor grading system, and are never graded with any third party. Postal order collecting has become a branch of notaphily, especially in England since the 1980s. Some countries, such as Basutoland , the British Somaliland Protectorate , and Northern Rhodesia never issued their own banknotes, however, they did issue their own postal orders. Great Britain , the Isle of Man , and Northern Ireland also issued Old Age Pension Orders as well as postal orders. These have become collectible in recent years. People collect paper money by: Paper money Too Many Requests If you report this error to

308-502: The Wikimedia System Administrators, please include the details below. Request from 172.68.168.237 via cp1104 cp1104, Varnish XID 200699737 Upstream caches: cp1104 int Error: 429, Too Many Requests at Thu, 28 Nov 2024 07:48:42 GMT Postal order A postal order or postal note is a type of money order usually intended for sending money through the mail. It is purchased at a post office and

330-423: The ability to closely examine and feel the note due to it being sealed inside the slab, many collectors are not comfortable accepting the opinion of others as to the grade and may either elect not to purchase the note or to cut it out of the slab for examination. Additionally, many noted mistakes in grading by third party grading services have been discovered. However, for collectors less adept at grading, purchasing

352-409: The banknote edition] The following note would thus be cataloged as "Yugoslavia P-87." An important aspect of collecting banknotes is the condition of items. Banknotes in perfect condition (without any damage), that usually haven't circulated are rated as uncirculated (UNC) and that is the highest classification for a value that a banknote can have. In addition to that, the value for a specific note in

374-513: The definition of it. Albert Pick is also the author of the capital part of the Standard Catalog of World Paper Money , now a three-volume set which consists of thousands of pages of almost the entire collection of the world paper money that has ever existed and is updated annually. Almost every note of every country and many special and regional issues are cataloged following a unique format for each entry: [Country Name]P[unique number for

396-464: The payee and value added at the time of purchase, making them more like a cheque. There is a fee for using this form of payment. The maximum value of postal order available is £250.00 for a fee of £12.50. The use of postal orders (or postal notes in some countries) was extended to most countries that are now part of the British Commonwealth of Nations, plus to a few foreign countries such as Jordan, Egypt and Thailand. United States Postal Money Service

418-526: The world paper money catalog is listed for UNC condition. Banknotes are usually graded on a descriptive scale of grades. These grades vary somewhat internationally, and as time goes on more grades have been added. The grades specified by the International Bank Note Society are as follows: In addition to these grades, it is common to indicate an in-between grade, such as AU-UNC, which is a note that falls between AU and UNC, (e.g.,

440-436: Was formed as an international association of banknote collectors. Nowadays it has thousands of members from around the world. The IBNS publishes the quarterly IBNS Journal, holds regular mail bid auctions, and promotes lectures at congresses. The major contributor to this study has been Albert Pick who published some of the earliest catalogues of paper money and through them explained the objective of collecting paper money and

462-403: Was introduced in 1864 by an act on Congress as a way of sending small amounts of money through the mail. By 1865 there were 416 post offices designated as money order offices that had issued money orders to the value of over $ 1.3 million and by 1882 they had issued orders valued at $ 113.4 million from 5,491 money order offices. Currently they facially appear as a draft against an account held by

SECTION 20

#1732780122625

484-558: Was issuing British postal orders as late as July 2006. Chinese Imperial Post began issuing postal orders since 1897, the so-called "remittance certificate". After purchase, these certificates are payable at main post offices in China and usually bearing franked postage stamps represented as fee. Since 1925, a set of special stamps were used by post offices to issue secured postal orders. Since 1929, Chinese Post were capable of selling international postal orders cashable under UPU protocol at

#624375