Investing in old currency rather than stocks

Tools

Story Published: Nov 25, 2008 at 6:49 PM MST

Story Updated: Dec 18, 2008 at 3:02 PM MST

By Wes Horrocks

Video

POCATELLO - Have you ever seen a $10 bill that's actually worth several thousand dollars?

Well many people are now looking for them as a way to invest rather than relying on the stock market.

When the U.S. Mint started issuing state quarters 6-million new people began collecting coins.

Now that the economy is struggling, those collections can be a big help. Jeff Smith, President, Treasured Stocks.com said, "Some of the currency pieces that we've sold five years ago have gone up 20%."

Smith runs an online company called Treasured Stocks.com. He routinely helps people learn how to make sure they are getting a good investment. Smith said, "If it's graded in a holder then they know exactly what they're getting."

In fact, demand is so high for rare coins that even pawn shops are getting calls every single day. Dan Williamson, former owner of Shamrocks Rare Coins said, "Over the past 60 days there has been more traffic than there has been for many, many years."

Currency and coins fluctuate in price based on their rariety and condition.

On some of these notes you can actually still feel the ink even though they're 100 years old.

Dealers are excited as more people get involved with collecting because it means more items are becoming available. Smith said, "Over the last six or seven years the coin market has been steadily rising. The coins have been going up, because there has been more collectors.

Regardless of the reason people start collecting, most aren't going to stop anytime soon. Williamson said, "It's a good investment. At the same time you can enjoy it."

If you're interested in starting a collection it's important to research any items you want to buy, and the person selling them to make sure it's worth it.

Current Weather

Current Temp 37.0 °F

Fair

Video

More Weather

Current Weather

More Weather

Upload directly from your mobile device.

Learn how

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.