Research Grants

Society of Paper Money Collectors

Research Grants

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The Society of Paper Money Collectors (SPMC) promotes the study and appreciation of paper money and related financial history. As a non-profit organization, the SPMC provides grants for research, publishes a bimonthly journal, sponsors exhibits and lectures at regional and national venues, and supports education and outreach to the greater numismatic community. The SPMC offers research grants to support research projects leading to publications of the following types:

  • Journal articles, appearing either in Paper Money or other publications approved by the SPMC Board of Governors.
  • Books and monographs.
  • Master’s theses and doctoral dissertations pursued at academic institutions approved by the SPMC Board of Governors.

Matching funds for projects approved by other organizations whose missions are congruent with those of SPMC may also be available.  

Amounts of previous grants have been typically in the range of $100 to $2500, but amounts awarded may exceed this range at the discretion of the Education, Research and Outreach committee.

Grant Guidelines: Terms and Conditions

  1. Grant funds may be used to defray expenses related to travel, lodging, equipment, photocopying, and other incidental expenses incurred during the course of a research project.
  2. Grant funds may not be used to finance salaries of either the researcher or any hired assistants.
  3. Most grant disbursements will occur on a “reimbursement of expenses” basis rather than as an advance of funds.  If advance funds are desired, it should be so noted on the grant application and reasons given as to why.  The Board of Governors reserves the right to only release funds upon receipt of approved expense receipts.
  4. Funds disbursals will be undertaken by the SPMC rather than submitting funds to a third party for disbursement.
  5. Funds disbursals that take the form of matching grants with other sources of institutional funding require a letter of support from an officer of the original funding institution.
  6. Recipients of funds do not have to be members of the SPMC, but applications from non-SPMC members require a letter of support from at least one member of the SPMC’s Board of Governors. Additionally, applications in support of masters or doctoral level research require reference letters from the researcher’s academic thesis advisor or dissertation chair.
  7. Funded research projects must contribute to the SPMC’s educational mission, as described above. Further, the SPMC also reserves the right to require grantees to give the SPMC’s journal, Paper Money, the first opportunity to publish any article resulting from the research of the grantee. If, per agreement of the Board of Directors, the SPMC’s journal Paper Money is not the primary publication for disseminating a project’s research results, then the grantee must submit to Paper Money’s editor a brief summary of results (800 words minimum) that outlines the project’s findings and its numismatic significance. Articles submitted for publication in Paper Money will be published according to a timetable determined by the editor.
  8. All research results published in whatever form, or theses and dissertations filed, must contain language, as a foreword or afterword, acknowledging SPMC support (e.g. “this research was funded in part by a grant from the Society of Paper Money Collectors”).
  9. Grantees should understand that acceptance of an award from the SPMC creates a legal duty on the part of the grantee to use the funds in accordance with all provisions and conditions attached to the grant. Non-compliance may result in the revocation of the grant. The SPMC reserves the right to terminate or suspend a grant at its discretion.
  10. Decisions to approve expenditures will be made by a three-fourth’s majority vote at annual meeting of the Board of Governors of the SPMC, upon recommendation by a majority vote of the SPMC’s Education, Research and Outreach Committee, but the Board can consider requests at other times as per Board policy. 
  11. All grant disbursals will be reported as necessary in accordance with the relevant tax and accounting laws.

Email completed grant applications to or mail to:

Shawn Hewitt
SPMC Grant Applications
Box 580731
Minneapolis, MN 55458-0731