Notaphily

[citation needed] Notable early collectors include Maberly Phillips (1838-1923), Henry Strakosch (1871-1943),[1] Fred Catling 1873-1947), Arnold Keller (1897-1972) and Albert Pick (1922-2015).

[2] While people began collecting paper currency more systematically in the 1940s, the turning point occurred in the 1970s when notaphily was established as a separate area by collectors.

At the same time, some developed countries such as the United States, Germany and France began publishing their respective national catalogues of paper money, which represented major points of reference literature.

In addition to that, the value for a specific note in the world paper money catalog is listed for UNC condition.

As a result, buyers are at risk of grade inflation, in that a dealer failing to notice a fold in an AU note and passing it off as UNC will undoubtedly feel justified in charging a higher price.

Bank notes below VF are usually considered undesirable in a collection, and are generally purchased where better-quality examples are either unavailable due to their scarcity or simply beyond the collector's budget.

Similar to the issues surrounding the transition that occurred within the coin collecting field many years ago, controversy exists about the need or value of TPG notes.

It also serves to help protect the collector against unethical activities designed to increase the worth of the note by pressing out folds, washing, repairing tears, or other alterations typically viewed as unacceptable thereby lowering the value of the item.