Jamie Yakes - August 26, 2008

Probably the toughest decision any collector will make is what they would like to collect. Some get lucky as the idea falls in their lap. Some get a glance at that one note at a show or in a dealer's shop and their mind is made up. Others go through trial and error: starting here and ending there, certainly taking some lumps along the way. But there is no right or wrong way to decide. Should you focus on one type or spread around? Do you like modern currency, say from the 20th century, or does Civil War paper excite you more? The limits are endless, as they say.

I took a path common to many collectors. After starting with my specialty, $5 small-size currency, I was starting to get "bored." Now this boredom was not from collecting and studying $5 notes, but from the monotony of not collecting anything else. I am a staunch proponent for specialization, as it brings with it many benefits, but even the specialist in me needed a break every now and then.

As a big military history buff, I became interested in combining this interest with numismatics. Of course, this was nothing new, as there is a strong fraternity of military numismatists who live and die by this stuff. But for me it was new and exciting. Specifically, I started collecting Allied Military Currency, and soon moved into Military Payment Certificates. But my absorption did not stop there. One of the fascinating things about collecting paper money is the direct and personal connection it has with geographical locations — just ask any national bank note collector. Yes, my interest continued into my home state, starting not with nationals, but with depression scrip. Depression scrip was issued during the 1930s as a means for business activity to continue in lieu of Roosevelt's bank holiday. There is a strong following for this material, but it has yet to really break into the mainstream. And a young set of nationals has also started to build in my collection.

So, here in 2008, there is no less than five sets being built under my wing. While the majority of my time and energy is focused on my primary specialty, there is no less interest in learning as much as I can about the others. In fact, they provide a nice outlet for relief at times, something different. And this is exactly how I would answer the new collector's question about what they should collect: Whatever you want! The people I met along the way influenced many of my sets, but in the beginning it was me who made that first decision. You need to start somewhere.

So look around. There are so many online and print resources for you to view just about any type or genre of currency. The Internet message boards can provide an almost instant and endless supply of ideas from seasoned collectors. And of course, the established collectors clubs and societies can put you in contact with other collectors and outlets for information.

Just remember that only you can choose to collect what will make you happy!