An interesting article on bitcoins, a kind of virtual currency.
It gives an interesting angle on virtual currency and shows some facts in terms of human behaviour and perception towards collectibles and alternative sources of currency. Enjoy the read!
Forbes article on Bitcoins
Paul's Numismatic Passions
Wednesday, 11 December 2013
Tuesday, 19 November 2013
Tips on Proper Currency Storage
Hi,
How have you guys been. I hope you have been enjoying reading my blog posts. Back to work this week and been pretty busy. But there is always time to blog about my passion.
I have been having a few requests recently on writing a post on proper currency storage and what to do to ensure that the notes that you hold in your collection withstand the test of time and remain in pristine condition.
Before you understand how to store your notes, it's important to know what are the various kinds of damage to your notes and what are those causes. I will then share some important yet simple ways to properly store your notes to allow you generations of enjoyment.
1. Foxing
- Foxing is actually a collector's usual way of describing a note that has discoloured over time. Typically the note will experience brown spots or shades and is usually caused by mold or fungal growth on the paper. It may also be caused by natural paper oxidation especially on older notes. Foxing is a natural ageing process of the note and may not be uncommon even for extremely well kept notes.
- Below is a picture of a note with natural foxing. Notice the brown spots on the bottom left of the note below the serial number.
How to prevent or reduce foxing?
- To reduce fungal or mold growth it is important to reduce or eliminate moisture from the environment that the note is stored. This will help prevent mold from existing in the environment.
- As per my picture below I have a Thirsty Hippo placed in my safe to absorb all moisture in the enclosed environment. This greatly helps reduce moisture and thus potential mold growth.
2. PVC Damage
- Another relatively common currency damage that occurs but is not frequently realised by collectors is the forming of a waxlike substance on the note. This is caused by storing the note in most normal plastic sheets or folders which usually contain PVC.
The PVC deteriorates and then reacts with the note over a long period of time and emits acids and gases which will transfer into the paper. This will cause the notes to appear as if soaked in oil, or so brittle as to shred at the slightest touch.
How to prevent or eliminate PVC damage?
- The other option available is to purchase plastic holders or sheets that are made of inert materials. A common and favourite option amongst collectors are Mylar sheets, although they can be hard to locate and not a very cheap option. Another less common but more expensive option is to use Polyethylene a softer, clear inert plastic often used in sleeves for photographs or other display mounts.
3. Note Inherent Vice
I hope the above tips and sharing have been useful for you. I sincerely hope it will help preserve your precious collections and help showcase them for many years to come. Please drop a positive comment if you like this post and many thanks for your encouragement!
Best,
How have you guys been. I hope you have been enjoying reading my blog posts. Back to work this week and been pretty busy. But there is always time to blog about my passion.
I have been having a few requests recently on writing a post on proper currency storage and what to do to ensure that the notes that you hold in your collection withstand the test of time and remain in pristine condition.
Before you understand how to store your notes, it's important to know what are the various kinds of damage to your notes and what are those causes. I will then share some important yet simple ways to properly store your notes to allow you generations of enjoyment.
1. Foxing
- Foxing is actually a collector's usual way of describing a note that has discoloured over time. Typically the note will experience brown spots or shades and is usually caused by mold or fungal growth on the paper. It may also be caused by natural paper oxidation especially on older notes. Foxing is a natural ageing process of the note and may not be uncommon even for extremely well kept notes.
- Below is a picture of a note with natural foxing. Notice the brown spots on the bottom left of the note below the serial number.
 |
| Foxing on bottom left of note |
How to prevent or reduce foxing?
- To reduce fungal or mold growth it is important to reduce or eliminate moisture from the environment that the note is stored. This will help prevent mold from existing in the environment.
- As per my picture below I have a Thirsty Hippo placed in my safe to absorb all moisture in the enclosed environment. This greatly helps reduce moisture and thus potential mold growth.
 |
| Thirsty Hippo in my Safe |
2. PVC Damage
- Another relatively common currency damage that occurs but is not frequently realised by collectors is the forming of a waxlike substance on the note. This is caused by storing the note in most normal plastic sheets or folders which usually contain PVC.
The PVC deteriorates and then reacts with the note over a long period of time and emits acids and gases which will transfer into the paper. This will cause the notes to appear as if soaked in oil, or so brittle as to shred at the slightest touch.
How to prevent or eliminate PVC damage?
- This is my favourite option. Just send your quality note to a grading house like PMG for grading and problem solved. The pouch that PMG or any professional grading house uses is made of inert material which doesn't contain any PVC.
Clear enclosures for your collections should be made from an inert, clear material. Inert means chemically stable—it will not react chemically with other materials (such as your collection).
 |
| Note stored in PMG folder made of inert material |
- The other option available is to purchase plastic holders or sheets that are made of inert materials. A common and favourite option amongst collectors are Mylar sheets, although they can be hard to locate and not a very cheap option. Another less common but more expensive option is to use Polyethylene a softer, clear inert plastic often used in sleeves for photographs or other display mounts.
3. Note Inherent Vice
- This is also a relatively common note damage and I'm sure this had been experienced by some of us before. Note inherent vice is a professional term used by archivers and is just a term to describe the kind of damage that is caused when two materials are in close proximity with each other and have an adverse reaction.
This is most commonly seen when two or more notes are stacked and stored together. Over time as the notes react to each other the deterioration will cause the paper to turn yellow or brown and become brittle. With this break down of the cellulose fibers, the paper literally falls apart slowly over time.
This is most commonly seen when two or more notes are stacked and stored together. Over time as the notes react to each other the deterioration will cause the paper to turn yellow or brown and become brittle. With this break down of the cellulose fibers, the paper literally falls apart slowly over time.
How to prevent Note Inherent Vice?
- Store your notes individually, simple as that! Even for a series of running number notes it is important to store each note individually in proper inert plastic folders.
- If you have a large series of running number notes a good alternative way is to slot in individual Mylar sheets between your notes.
 |
| Mylar sheet between two notes |
I hope the above tips and sharing have been useful for you. I sincerely hope it will help preserve your precious collections and help showcase them for many years to come. Please drop a positive comment if you like this post and many thanks for your encouragement!
Best,
Paul's Numismatic Passions
Saturday, 16 November 2013
Charity Auction
Just did a mini charity auction with the proceeds donated to the Singapore Red Cross's efforts for Typhoon Haiyan in the Phillipines.
The item that was up for bidding was from my personal collection, a solid 7s Singapore $50 Portrait note. It went for S$185 to the highest bidder on my facebook group page, Paul's Numismatic Passions.
Really glad and humbled to have been able to do a small part for humanity and leveraging on our passion to help others in greater need. My heartfelt thanks goes out again who actively participated!
Paul's Numismatic Passions
The item that was up for bidding was from my personal collection, a solid 7s Singapore $50 Portrait note. It went for S$185 to the highest bidder on my facebook group page, Paul's Numismatic Passions.
Really glad and humbled to have been able to do a small part for humanity and leveraging on our passion to help others in greater need. My heartfelt thanks goes out again who actively participated!
Paul's Numismatic Passions
Friday, 15 November 2013
PMG Exceptional Paper Quality (EPQ) - Worth the Fuss?
Hi
Yes my subject title is right. I'm wondering......is the EPQ designation by PMG worth all the fuss and possibly a higher premium value on the note? My writeup below is focussing on PMG. Do note that other rating agencies also use a similar acronym like PPQ short for 'Premium Paper Quality' used by PCGS Currency.
Background
The EPQ designation was formulated to be used on their pouches by PMG in November 2005. The definition of EPQ as taken from their website is:
PMG uses the designation Exceptional Paper Quality (EPQ) for notes that, in the opinion of PMG graders, are original. By original, we mean that a note has not been physically, chemically, or materially processed to lend the appearance of a higher grade. PMG graders examine the embossing, inks, and overall integrity of each note to make the determination whether it will qualify for EPQ. Notes exhibiting normal wear-and-tear for their respective grades are eligible; normal wear may include factors affecting grade such as counting marks and folds. Notes receiving the EPQ designation must furthermore be unrestored. A restored note has had non-original material added to bring its appearance to a known or assumed state.
Commentary
What does the above mean? Does this mean that notes without an EPQ designation have been adversely processed before? But if so, wouldn't the note have received a 'Net' grade instead with the relevant adverse reason provided.
This is in my opinion one of the largest paradoxes in the currency grading industry, which I shall attempt to better answer.
I found this explanation from this website below which in my opinion bests answer this question:
PMG EPQ explained
Many people ask about the difference between PPQ/EPQ notes and the others. First off, we dealers refer to them as Q'd (pronounced Queued ~ google it to pronounce it) and Flat. The grading services either assign a Q (PPQ or EPQ) or it's known as Flat. The term Flat came about because a typical rule of thumb is that Flat notes lack the originality of the "paper wave" -- the naturally ocurring wave that original paper money has (yes I know that's redundant). Flat notes occur because of the way they were stored, or they have been pressed flat intentionally. Sure the Q'd notes bring a little more money but the flat notes can be just as appealing to the eye!
Conclusion
So conclusion, are notes that have been rated EPQ worth the extra premium? Most probably yes. However a note that doesnt have a EPQ designation doesn't necessarily mean its adverse. It could have been due to pressing or the way the note has been stored that may have caused it to lose its natural paper wave. I have seen the so called waves on notes and it actually occurs due to the natural aging of notes, together with foxing. However please note that in my opinion notes that do not have the EPQ designation are in no terms adverse. In fact these notes are still very valuable and collectible. I asked one of the owners of one of the main local auction houses before, if he had to choose between a lower graded note of lets say 58 EPQ or a note that is graded 62, he would choose the higher grade anytime.
So to conclude, use the EPQ designation more as a guide to signify the ability of the previous owner to have kept the originality of the note well and possibly help add some increased premium to the value of the note. That's all there is to it and it shouldnt result in a crazy price premium that doesnt make sense.
Hope the above sharing has helped shed some learnings on this paradox.
Sincerely
Paul's Numismatic Passions
Yes my subject title is right. I'm wondering......is the EPQ designation by PMG worth all the fuss and possibly a higher premium value on the note? My writeup below is focussing on PMG. Do note that other rating agencies also use a similar acronym like PPQ short for 'Premium Paper Quality' used by PCGS Currency.
Background
The EPQ designation was formulated to be used on their pouches by PMG in November 2005. The definition of EPQ as taken from their website is:
PMG uses the designation Exceptional Paper Quality (EPQ) for notes that, in the opinion of PMG graders, are original. By original, we mean that a note has not been physically, chemically, or materially processed to lend the appearance of a higher grade. PMG graders examine the embossing, inks, and overall integrity of each note to make the determination whether it will qualify for EPQ. Notes exhibiting normal wear-and-tear for their respective grades are eligible; normal wear may include factors affecting grade such as counting marks and folds. Notes receiving the EPQ designation must furthermore be unrestored. A restored note has had non-original material added to bring its appearance to a known or assumed state.
Commentary
What does the above mean? Does this mean that notes without an EPQ designation have been adversely processed before? But if so, wouldn't the note have received a 'Net' grade instead with the relevant adverse reason provided.
This is in my opinion one of the largest paradoxes in the currency grading industry, which I shall attempt to better answer.
I found this explanation from this website below which in my opinion bests answer this question:
PMG EPQ explained
Many people ask about the difference between PPQ/EPQ notes and the others. First off, we dealers refer to them as Q'd (pronounced Queued ~ google it to pronounce it) and Flat. The grading services either assign a Q (PPQ or EPQ) or it's known as Flat. The term Flat came about because a typical rule of thumb is that Flat notes lack the originality of the "paper wave" -- the naturally ocurring wave that original paper money has (yes I know that's redundant). Flat notes occur because of the way they were stored, or they have been pressed flat intentionally. Sure the Q'd notes bring a little more money but the flat notes can be just as appealing to the eye!
Conclusion
So conclusion, are notes that have been rated EPQ worth the extra premium? Most probably yes. However a note that doesnt have a EPQ designation doesn't necessarily mean its adverse. It could have been due to pressing or the way the note has been stored that may have caused it to lose its natural paper wave. I have seen the so called waves on notes and it actually occurs due to the natural aging of notes, together with foxing. However please note that in my opinion notes that do not have the EPQ designation are in no terms adverse. In fact these notes are still very valuable and collectible. I asked one of the owners of one of the main local auction houses before, if he had to choose between a lower graded note of lets say 58 EPQ or a note that is graded 62, he would choose the higher grade anytime.
So to conclude, use the EPQ designation more as a guide to signify the ability of the previous owner to have kept the originality of the note well and possibly help add some increased premium to the value of the note. That's all there is to it and it shouldnt result in a crazy price premium that doesnt make sense.
Hope the above sharing has helped shed some learnings on this paradox.
Sincerely
Paul's Numismatic Passions
Tuesday, 12 November 2013
Collectors Auction House Review
Hi
I received an email today from Numismatic Guaranty Corporation or NGC for short. The email was from a relatively new online auction house, Collectors Auction House.
I did a read up on their website and had some correspondence with someone from the house. I think its a great idea as they allow buying and selling of notes purely via an online platform, primarily via Liveauctioneers.com.
For those of us who choose to bid purely online, this presents an opportunity to significantly reduce both buyer and seller costs. I've attached the auction cost details via an email correspondence screenshot below.
Of course, this definitely doesnt mean that the brick and mortar auction houses are a thing of the past. For most of us who prefer to see the physical note and prefer to deal with the traditional big houses, the traditional auction houses are still the most welcome option. Also, from the values transacted so far the traditional auction houses still have managed to garner much higher auction values for sellers.
Nevertheless, this still presents an excellent and viable alternative for those of us who usually bid online and would like to give a new player an opportunity to establish themselves further. A result is a growing presence for them and significant discounts for both buyers and sellers. This to me is a win-win scenario and as always, who doesn't like this?
Conclusion:
Traditional auction houses are still here to stay, but the emergence of pure online players like Collectors Auction House present significant opportunities for the numismatic community.
This would only help grow and preserve the interest and presence of currency collections for many generations to come.
*All comments are proprietary, objective and formed by me and there has been no endorsement by any organisation. Please form your own views and analysis in making your numismatic decisions.
For more details of this auction house please visit:
Collectors Auction House
Sincerely,
Paul's Numismatic Passions
I received an email today from Numismatic Guaranty Corporation or NGC for short. The email was from a relatively new online auction house, Collectors Auction House.
I did a read up on their website and had some correspondence with someone from the house. I think its a great idea as they allow buying and selling of notes purely via an online platform, primarily via Liveauctioneers.com.
For those of us who choose to bid purely online, this presents an opportunity to significantly reduce both buyer and seller costs. I've attached the auction cost details via an email correspondence screenshot below.
Of course, this definitely doesnt mean that the brick and mortar auction houses are a thing of the past. For most of us who prefer to see the physical note and prefer to deal with the traditional big houses, the traditional auction houses are still the most welcome option. Also, from the values transacted so far the traditional auction houses still have managed to garner much higher auction values for sellers.
Nevertheless, this still presents an excellent and viable alternative for those of us who usually bid online and would like to give a new player an opportunity to establish themselves further. A result is a growing presence for them and significant discounts for both buyers and sellers. This to me is a win-win scenario and as always, who doesn't like this?
Conclusion:
Traditional auction houses are still here to stay, but the emergence of pure online players like Collectors Auction House present significant opportunities for the numismatic community.
This would only help grow and preserve the interest and presence of currency collections for many generations to come.
*All comments are proprietary, objective and formed by me and there has been no endorsement by any organisation. Please form your own views and analysis in making your numismatic decisions.
For more details of this auction house please visit:
Collectors Auction House
Sincerely,
Paul's Numismatic Passions
Monday, 11 November 2013
Singapore Orchid Prices
Hi,
As you would know the recent auctions have resulted in a marked increase in the prices of Orchid notes especially those signed by GKS. Below is a catalogue shared by a fellow collector Alan, of the 2012 prices of Orchid notes and are in Ringgit terms.
Using the above as a benchmark and coupled with the recent auction activity and prices in 2013, this is my analysis of where the prices are at now and for the following year.
My analysis is on the conservative scale, priced in SGD and specifically for GKS signed UNC notes. You can determine the proxy price of the other orchid notes accordingly from the below.
Nov 2013 Nov 2014
$1 GKS Orchid S$30 S$40
$5 GKS Orchid S$4,000 S$4,500
$10 GKS Orchid S$500 S$600
$50 GKS Orchid S$500 S$700
$100 GKS Orchid S$3,000 S$4,000
S$1000 GKS Orchid S$2,000 S$2,500
Paul's Numismatic Passions
As you would know the recent auctions have resulted in a marked increase in the prices of Orchid notes especially those signed by GKS. Below is a catalogue shared by a fellow collector Alan, of the 2012 prices of Orchid notes and are in Ringgit terms.
Using the above as a benchmark and coupled with the recent auction activity and prices in 2013, this is my analysis of where the prices are at now and for the following year.
My analysis is on the conservative scale, priced in SGD and specifically for GKS signed UNC notes. You can determine the proxy price of the other orchid notes accordingly from the below.
Nov 2013 Nov 2014
$1 GKS Orchid S$30 S$40
$5 GKS Orchid S$4,000 S$4,500
$10 GKS Orchid S$500 S$600
$50 GKS Orchid S$500 S$700
$100 GKS Orchid S$3,000 S$4,000
S$1000 GKS Orchid S$2,000 S$2,500
Paul's Numismatic Passions
Sunday, 10 November 2013
Numismatist Shops in Singapore
I've collated a list of Numismatic shops in Singapore for your currency hunting. This has been sourced from www.eguide.com.sg. Do add more comments if you know of other shops as well.
Cheers!
Cheers!
The Singapore Mint Coin Gallery
65662626
Jurong East, Singapore
- Coin Dealers
- -
- Gold Coins
- -
- Bank Notes Dealers
Far East Stamp & Coin Centre
63396808
High Street, Singapore
- Coin Dealers
- -
- Gold Coins
- -
- Bank Notes Dealers
Clifford Numismatic & Collectible Centre
63373898,62231044,62249192
High Street, Singapore
- Coin Dealers
- -
- Gold Coins
China Jia Long Coin & Antiquities
62952777
North Bridge Road, Singapore
- Coin Dealers
- -
- Gold Coins
- -
- Bank Notes Dealers
Numis-Phil (S) Pte Ltd
62254489
Jalan Kayu, Singapore
- Coin Dealers
- -
- Gold Coins
- -
- Bank Notes Dealers
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