Remember a few weeks ago, we talked about how numismatics also applies to currency, not just coins.
Did you know anyone can issue currency in the United States provided it does not look like our federally printed currency? And, have you heard, several cities and communities have begun issuing their own scrip?
Take a look at this MSN Money article on cities printing their own cash.
Some collectors (numismatists) specialize in paper currency, and some concentrate even further on depression era scrip.
For more information on the historical, depression era scrip, visit this site. They provide more information, especially the definition and pictures of depression era scrip.
Cities printing scrip today are doing it for many of the same reasons local scrips became popular during the depression.
The MSN Money article talks about the difficulty of printing and circulating the local scrips. The major challenge stems from the local nature of the currency. When in-town businesses have to pay out-of-town suppliers, they need a currency accepted by the out-of-town businesses.
In some cases, it appears the scrip is only accepted at a few businesses. However, as the article comments, “When the Treasury prints billions to bail out banks and automakers, people look for alternatives. These folks may look nutty now, goes the quip, but wait till the dollar goes the way of the Argentine peso. Then you’ll be exchanging a wheelbarrow of cash for a bay buck, local currency boosters say.”
Note, a bay buck is one of the new scrips. Plus, they recognize their scrip can be collectible. Take a look at this site titled Collectors take Note.
But, could all of these new scrips, quite a few of them, become collectibles for the people who enjoy studying and collecting paper money?
Could their collectible value surpass their purchasing value?
If you are not into collecting paper currencies or scrips today, make sure you do your homework. As with almost any collectible, some scrips are more valuable than others. That will be true with the new scrips as well.
You could pay the current prices for the scrips and win big in a few years. On the other hand, you could pay the current price and lose money in the future.
But, life’s a risk, too. Just make sure you investigate and determine if and when you want to collect these scrips.
And, if you’re just a collector at heart, some of the scrips are nicely done and could be collected for their artistry.