June 7-10 2012

I always like going to Memphis as it remains the largest gathering of paper money aficionados anywhere. The 2012 International Paper Money Show was no exception albeit with somewhat subdued numbers of people this year. I’m not quite sure why, but perhaps it was the escalating airfare or perhaps the entrance to the show fees of $7 / day or $20 / show. Certainly the latter kept casual people out that might be beginners – they may not spend a lot of money, but I and some dealers do carry $10, $15 and $20 stuff in addition to the four and five figure material.

History of Collecting Confederate States of America Paper Money - 1865-1945 by Pierre Fricke and Fred Reed See http://www.csaquotes.com/csabooks.html Pierre Fricke and Fred Reed announce the publication of History of Collecting Confederate States of America Paper Money – Volume 1, 1865 to 1945. With 340 pages of well-illustrated stories and history, this book is a must for anyone interested in collecting Confederate paper money, Southern history, or coin and paper money collecting.

In the past year, an ounce of gold has crossed the $1,500 threshold and has hit new records, approaching $2,000 at one point. Believe it or not, in terms of gold equivalency, the US dollar is now worth less than the value of $1 Confederate on the eve of General Lee’s surrender in the Civil War. Ben Bernanke may not be worried about inflation, but the South experienced a nasty bout of hyperinflation with lingering effects due to its loose monetary policy.

I attended the William H. Kelly Confederate paper money sale held in conjunction with the FUN show in Orlando. Heritage auctions conducted the sale on Thursday night, January 5, 2012. William Kelly collected over the last quarter century of the 20th century focusing on building four complete Confederate money type sets, building eight sets of Montgomery notes, and adding a number of major rare varieties to his collection – making the Kelly collection one of the major collections offered (both publicly and privately) over the past century.

In this month’s article I will explore the vagaries of pricing along with the calls and emails I get whenever I lower the price on a note in “The Standard Guide to Small Size U.S. Paper Money, 1928 to date” (SGSS). This seems to be a common occurrence with each new edition of the SGSS. Interestingly, however, I don’t remember anyone ever calling to inquire about a price that went up! The question and answer exchange below regarding a specific price decrease caught a SGSS reader a bit off guard. “Scott, Hello. I ordered and have been comparing your 10th edition to the 9th edition.