Whether you prefer rare paper currencies, autographs, or postcards, collecting paper collectibles can be a great hobby. Over the years, however, certain myths have pervaded the minds of collectors and dealers, often resulting in inflated prices or otherwise unfair transactions. Here’s a brief look at some of these myths and why they’re wrong:
- Verbal Authentication Is Sufficient
Whenever you come in possession of a letter written by a historical figure, or a perhaps an old postcard, it really helps to get documentation regarding its authenticity. Even if you completely trust the person who sold you the letter or postcard, most dealers prefer a written certificate over verbal confirmation of the item’s authentication.
- Deceased Celebrities’ Autographs Are More Valuable
Since artists’ paintings go up sharply in value after death, many people believe the same to be true of celebrities’ autographs. However, while autograph prices may go way up immediately after a celebrity’s death, the prices usually go way down after a week or two, once the demand is reduced.
- Counterfeits Are Easy to Spot
Over the years, countless individuals have attempted to cheat the system by counterfeiting bills. Unfortunately for collectors, many of these worthless counterfeits are incredibly difficult to discern from the real thing. Before you take your paper money to a dealer, you should consider seeing an experienced appraiser to ensure your collectable is real.
- Misprints Are Worthless
As it turns out, most paper money collectors are willing to pay a lot for misprinted bills. Misprints are often worth much more than their correctly printed counterparts simply because there are fewer of them. If you have your hand on a misprinted bill, either from yesterday or 50 years ago, you should be able to sell it for much more than its face value.
If you live in the Rockville area and have questions about paper collectibles, contact your local coin dealer, Coins of the Realm. Whether we’re buying or selling, we always negotiate fair prices with our clientele! To learn more, call us today at (301) 340-1640.