What is notaphily? A guide for beginner banknote collectors

Notaphily is a passion for collecting banknotes and other paper money from different countries and eras. It is a "multidisciplinary" hobby – at the intersection of history, art, economics, printing technology, and... detective-like attentiveness. If you want to discover the appeal of banknote collecting and how to get started, this guide is for you.

Table of contents

• Notaphily and notaphily—are they the same thing?
• Where did the popularity of banknote collecting come from?
• Why are banknotes so fascinating?
• What affects the value of a banknote?
• Notaphily in the digital age
• What exactly can you collect?
• How to start your adventure with note collecting – a 7-step plan
• Storage and safety
• Banknote numbering – a brief guide to the "secret language"
• Notaphily as an investment – common sense above all else

Notaphily and notaphily—are they the same thing?

In Polish literature, you will encounter two terms: notafilia and notafilistyka. In practice, they are used interchangeably—both refer to the collection and study of paper money. Notafilia is also sometimes treated as a specialized branch of numismatics (whose main area of focus is coins).

Where did the popularity of banknote collecting come from?

The heyday of banknote collecting came in the 20th century. This passion was fueled by, among other things, emergency currency (Notgeld) issued during World War I and the early 1920s, as well as rapid changes in monetary systems in many countries. Over time, a rich infrastructure developed around banknotes: catalogs, collectors' societies, grading companies, and the auction market.

Why are banknotes so fascinating?

For collectors, historians, and designers, banknotes are much more than just a means of payment. A single banknote can combine:

• History and national symbols (portraits of rulers, heroes, buildings, emblems).
• Art and design (composition, typography, color scheme).
• Printing techniques and security features (steel engraving/intaglio printing, watermark, security thread, microprinting, optically variable elements).
• Economy (denominational changes, inflation, currency reforms).

What affects the value of a banknote?

The price and collectible appeal are usually determined by:

• Condition – from circulated to UNC (uncirculated, no signs of circulation). In professional circulation, a numerical scale is used (e.g., 1–70).
• Rarity and circulation – how many were produced and how many have survived.
• Demand – popularity of themes, country, historical period.
• Variants and printing errors – variations in paper, signatures, dates; spectacular errors are sometimes rarities.
• Numbering – so-called "fancy serials" (very low numbers, "radars" 1234321, "solids" 1111111, "ladders" 1234567) can significantly increase value.
• Replacement banknotes – specially marked replacement copies printed to replace defective sheets (the marking method depends on the country and issue).

Note: banknote numbering is not linked to ISO 4217 currency codes – it is a separate system (e.g., PLN and USD are currency codes, not numbering schemes). In many issues, the letters and numbers in the number indicate the series, issue, or printing works, not the currency code.

Notaphily in the digital age

The 21st century has given collectors powerful tools:

• Online databases and catalogs, as well as applications for maintaining your own records.
• Auction houses and platforms with the ability to filter emissions and prices.
• Grading (e.g., encapsulation and assessment on a scale of 1–70) facilitates verification of condition and increases trading liquidity.
• Communities – forums and groups where you can verify information, learn, and exchange experiences.

It is worth remembering that digital tools help to compare authenticity features, but they cannot replace professional inspection—a photo will never provide 100% certainty.

What exactly can you collect?

The world of paper money is vast—and it doesn't end with "ordinary" banknotes:

• Circulating and collectible banknotes – various countries, periods, themes.
• Special and commemorative issues – anniversaries, events, limited edition issues.
• Emergency money, vouchers, cash checks, treasury tickets—fascinating historical material.
• Specimens and test prints – display copies with the word "SPECIMEN" printed on them or reference samples.
• Promotional materials – brochures and folders documenting design and technology.

What about coins? That's the domain of numismatics – many collectors combine both passions. If you are also interested in coins or investment gold, you can naturally build your collection in parallel.

How to start your adventure with note collecting – a 7-step plan

• Select a range: country, era, topic (e.g., fauna, architecture, Polish banknotes after 1995, 20th-century Africa, etc.).
• Set your budget and pace of purchases—it's better to buy one great item than five mediocre ones.
• Use catalogs (printed and online) to learn about varieties, brands, and approximate prices.
• Buy from trusted sellers – auction houses, reputable stores, dealers with good reviews.
• Pay attention to condition – learn to recognize creases, discoloration, and repairs. Consider purchasing copies with professional grading.
• Keep records – numbering, series, purchase price, source, photos; this will help with further decisions and possible resale.
• Appreciate maintenance – proper storage is essential for preserving value.

Storage and safety

• PVC-free sleeves and holders (e.g., made of Mylar/PP), format adapted to the banknote.
• Constant conditions – low humidity, no harsh light; avoid extreme temperatures.
• No tape or staples – do not "repair" the banknote yourself.
• Handle with care – clean, dry hands; do not bend or roll.
• Insurance and documentation – for more valuable collections, consider taking out insurance and making a detailed inventory of the collection.

Banknote numbering – a brief guide to the "secret language"

• Letter and number series: indicate the print run, sometimes the printing house or issuing bank.
• "Fancy serials": sequences attractive to collectors (0100001, 1234567, 7777777, "radars").
• Low/high numbers: very low or particularly "round" numbers tend to be rewarded.
• Replacement banknotes: specially marked (e.g., with symbols, letters/prefixes) copies introduced to replace defective sheets – depending on the country.

Conclusions? The number is not just decoration—it is the identity of the banknote. It allows you to identify the issue, series, and sometimes special features of a given batch.

Notaphily as an investment – common sense above all else

Banknotes can increase in value, but not every purchase is an investment. Think long term, diversify, and above all, buy what you understand and what you really want to have. Quality, rarity, and documented provenance usually defend themselves best.