Everyone knows about stock investments, Forex trade and buying commodities but these three are definitely not the only investment methods worth your while. You see, there are some people who prefer to look for alternative investments like art or even wine. One of the most interesting such investments are banknotes from countries all over the globe and there are several things you need to know about how this can help you make a decent amount of money.
Look at the serial number
First of all, you need to understand that not all notes are made the same. This is a problem that a lot of people walk straight into, due to the fact that they expect the value of the note to be depicted on it. A £5 note is worth £5, right? Well, not exactly. In 2017, a £5 note from 1971 edition was sold for as much as £16,800. How? Well, due to the fact that it had an interesting and meaningful serial note. The serial note in question was A01 000004 and it is clear that this was one of the first notes printed in this edition. Due to the nature of cash circulation, it may be impossible to locate A01 000001 and A01 000002, making this particular bill into one of the most valuable banknotes in existence.
Bank of England chief cashier signature
While still on the topic of British Pound, when it comes to notes issued by the bank of England, every single bill has a signature by a chief cashier. This means that first and last editions by the cashier in question might be more valuable than you know it. The last such change happened recently (in 2018) when Sarah John replaced Victoria Cleland (chief cashier between 2014 and 2018). This is also something worth keeping an eye out for, seeing as how it could impact the value of your banknotes.
Errors due to misprinted banknotes
Sometimes, what makes a banknote unique is the error in its printing. For instance, previously, we’ve talked about the importance of chief cashier’s signature, yet, the lack of this signature may contribute to the value of the note, as well. A major flaw in the issue of image (state of head, king/queen or a former president’s head missing from a bill) could make the value of the note in question to skyrocket. Whatever it is that makes the note unique might be worth your time and attention. On the other hand, a polar opposite to this, a note in mint condition might also be worth quite a bit.
International notes worth keeping an eye out for
While collecting domestic notes might be a lot easier, those with access to a banknote auction house might want to take a look into international currencies that might have notes worth mentioning. Most notably, we’re talking about are the likes of the Zimbabwe 100 trillion-dollar bill, Indonesia 10,000 rupiah from 1975 and the United Arab Emirates – 100 dirhams from 1973. At the time, these bills might not have been worth a lot, yet, nowadays, some of the most valuable bills may reach as much as $1,000 in value.
In the end, it’s also worth knowing what the optimal course of action is for someone who gets their hand on one of these valuable banknotes. Nowadays, you can sell this item on forums like eBay or Amazon, yet, there’s also the traditional mean of going through an auction house. Also, some collectors may be interested in doing business with you directly, without an intermediary, which might maximize profits by cutting out third-party fees.