Foreign Currency – Collecting Foreign Banknotes, Part 2

Foreign currency may mean big bucks for those people trading across borders and over oceans. The import/export business and those who invest in countries abroad all rely on foreign currency exchange rates. But there is another type of people who have an interest in foreign currency – the collectors.

Foreign Currency Collecting – What's the Cost

If you're thinking of starting out as a collector of foreign currency banknotes, it's fair to have reservations and concerns about the potential cost. After all, foreign currency banknotes, even if they are no longer in circulation or in use, is money, and money is well – money! But collecting old foreign currency is in fact within the budget of many hobbyists and enthusiasts. If you choose a country that has for example a high rate of inflation, the foreign currency is much lower in value compared to the British pound.

Foreign Currency – What's Affordable, What's Collectable

The US dollar is particularly collectable at the moment, but other countries whose foreign currency has high inflation include:

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  Afghanistan
  
  
  


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  Iraq
  
  
  


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  Peru
  
  
  


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  Croatia
  and Bosnia Herzegovina
  
  
  


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  Kenya
  
  
  

It's possible to buy foreign currency for as little as 50p – and many banknotes could increase in value over the years for their historic value. Foreign currency of particular interest right now is the banknotes from Iraq. Old foreign currency from Iraq was destroyed and is now obsolete. The notes, a large selection of which featured images of Saddam Hussein, were destroyed by US forces on October 15 2003. The foreign currency bills are therefore in high demand and of historic significance.

Foreign Currency – Bargains and Profits

Countries that suffered runaway inflation such as Germany and Hungary are also affordable on collectors markets. In the early part of the century, the inflation rates meant much foreign currency was less valuable literally then the paper it was printed on. But they are still highly collectable – often featuring beautiful designs and art. It's still possible to buy these notes for under a £1. You can even find foreign currency notes for around £10 dating back to the French Revolution. Of course the rarer the note, the more its worth to collectors – but collecting foreign currency banknotes means there is always an opportunity to find bargains and make profits.

Foreign Currency Exchange Ltd is a commercial currency brokerage based in the UK. We help thousands of clients move hundreds of million pounds across the globe every day. From large businesses to private individuals who wish to send regular payments abroad, you can save money with us by getting better currency exchange rates than with your bank. The Foreign Currency Exchange buys currency at wholesale rates and can help you save money with our fast secure service. For more information contact us now, telephone +44 (0) 20 7989 0000 or email info@fcexchange.co.uk