Discontinued money and obsolete money

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In foreign countries, money gets a completely new look from time to time, and the previous design is eventually retired from circulation. Not only do they stop printing it, they also may stop accepting it as a form of payment. In other words, the previous designs get phased out over time.

Discontinued money is the kind that is no longer being printed or widely distributed by official banks in a particular country. Most discontinued bills from around the World cannot be used to pay for things, but they may have value to collectors of historic currency, provided they meet certain minimum requirements. Generally, the value of discontinued money depends on condition of preservation, and type or variety.

Obsolete money is discontinued money which can no longer be redeemed by any official means. Obsolete money can have instrinsic value to collectors of World currency, based on type and state of preservation.

Some discontinued or obsolete money is extremely valuable because it is a very rare type and also because it is extraordinarily well preserved under the circumstances. However, each case is different. Supply and demand in the collectibles market will be the ultimate defining factor.

Collectors all over the World actively seek all sorts of discontinued and obsolete bills for their collections. Currency from the past has a mysterious allure to it, because it is an important part of the history of a country or region. Money and finances greatly influence all social, economical and political aspects in the destiny of a people. Old currency can serve as a tangible reminder of important events and of entire countries that are no longer in existence.

The hobby of collecting discontinued or obsolete money is very popular around the World, but in the United States of America, it is just in the beginning stages.

In the United States, there are no obsolete American dollars, only discontinued money with very old designs. All United States currency ever issued is redeemable indefinitely, but this appears to be a guarantee that exists only in the case of American dollars, and perhaps a handful of other currencies. Note: Confederate money from the Civil War Era is not United States money, and it is no longer legal tender anywhere, not even in the Old South.

For obsolete money to have collectible value, it usually must be in crisp uncirculated condition. To a collector, the phrase crisp uncirculated means that the bill has never been folded or creased, and that all of its four corners are perfectly straight, clean, square and sharp. In addition, there are other characteristics that define a crisp, uncirculated bill, which collectors look for.

In order to estimate the market value of discontinued or obsolete money, it is absolutely necessary to contact a reputable foreign currency specialist, and show him or her the bills in person, for a proper inspection. Your local coin dealer may have the name of someone who specializes in collectible currency. Estimates cannot be given over the Internet, the phone, or the mail.

If you intend on selling your discontinued or obsolete money to a coin dealer, merchant or trader, then you will receive the wholesale price for your items. On the other hand, if you sell your items to a collector, then chances are greater of receiving the current retail value of the bills, based on the market at the time.

Even after your discontinued or obsolete money is properly identified, evaluated and appraised, bear in mind that its ultimate value will be the price that a dealer or collector is willing to pay.

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