The Case for Banknote Numismatic Programs: Why and How

 

Currency Research (CR) believes there is a missing component in the world of banknotes that if properly planned and executed could greatly benefit Central Banks and all other industry stakeholders, including the general public. The act of collecting (stamps, coins, and cards to name but a few examples) has been around for hundreds, if not thousands, of years. Stamp collecting alone is estimated to be a billion dollar industry. Coins produce millions in revenue and profit for mints, governments, and commercial institutions. And yet, at present most countries lack a comprehensive banknote numismatic strategy and program, although many Governments have embraced philatelic and coin numismatic programs for Mints and Post Offices respectively.

In past years various Central Banks have issued banknote collectables, using the profits for a range of purposes including charitable donations and new production facilities. However, these runs of banknote collectables were primarily either single releases or a small subset of products with limited distribution. Banknote production technology has now advanced, including features such as serial number writing, reading, and sorting to facilitate the customization and individualizing of each banknote. 

CR believes the key obstacles to creating successful banknote numismatic programs today are both an unclear understanding of the numismatic opportunities and the lack of guidance for establishing and, more importantly, maintaining a viable and sustainable program for single releases and into the long term. CR addresses this need in The Case for Banknote Numismatic Programs: Why and How by first detailing the tangible benefits of numismatic programs and then outlining what is required to implement a banknote numismatic program within a Central Bank.

CR’s past experience and involvement in many numismatic projects, as well as the expert advice received from current and past central bank and industry individuals, inform this dynamic guide on how to develop and sustain a successful banknote numismatic program.