Currency collections. Tips for how to keep them souvenir worthy

Perhaps you have leftover bills from trips to other countries tucked away in a drawer. Perhaps, your souvenir bills are in an envelope or a plastic baggie. Maybe some of the bills are so dirty and worn, they’re a bit scary to touch. Or maybe you have quite the collection in an archival box, shoebox-sized like Ron Wise.

According to this article published in the Seattle Times, Wise has more than 10,000 bills and knows which ones are his favorites and how to keep the collection looking pristine.

The value of a currency lies partly within the shape its in. That wrinkled, sad looking dong I kept from Vietnam has sentimental value, but isn’t a collector’s item, for example.

A collector wants bills that are pristine and crisp, not crumpled or torn. To get such bills, before you leave a country buy currency at an airport money exchange. You’ll pay more, but you’ll have a better looking item. (So, that’s how I could have rupees that look more like those in the photo!)

Another suggestion for acquiring crisp, clean bills is to buy currency by using an ATM machine with a credit or debit card. Once you get your lovely bills, Wise suggests putting them between pages of a hardcover book or in an envelope placed in a magazine that you don’t fold until you get them home.

Once home, store the bills in archive quality plastic holders or an archival box, and keep the collection in a low humidity. Humidity can cause damage.

If you frame the currency, hang the frame out of direct sunlight and consider using glass that prevents UV rays from damaging the bills.

If you want to find out about other people’s currency collection and share your own, head to Wise’s website World Paper Money Homepage.

Still, there is something a bit precious about my sad-sack dong and rupees. I can only guess how far they’ve traveled.

Where’s all the change in Argentina?

I hate coins. They’re a pain to carry around and I always end up dropping them all over the place while I fiddle to put bills back into my wallet. Yet I do realize they serve a purpose – any time I’m cursing myself for running out of quarters at the laundromat I’m reminded of this fact.

The citizens are Argentina have a love/hate relationship with their coins as well. Though the country recovered remarkably well from an economic meltdown in 2001, recently Argentines have been experiencing a severe shortage of proper change at many banks and local businesses. At many stores, merchants will flat-out refuse customer business unless they have correct change, displaying signs that read “No hay monedas.” Taxi drivers routinely flaunt the metered fare, accepting less money for their route or resorting to overcharging customers.

What’s a visitor to Argentina to do about it all? Locals recommend anyone hoping to take a taxi ensure they have small bills on them – you’re likely to get either a look of horror, or flat-out denial if you try to break anything bigger than a 20 peso note. The same goes for stores as well – be prepared to not get back the difference if it’s less than 5 or 10 centavos. And if you can, use a credit or debit card. Ultimately like many travel situations, a little patience goes a long way. This is after-all Argentina, one of the jewels of South America. You’re not going to let a little pocket change get you down, are you?

[Via Buzzfeed]

Euro notes in Spain have highest traces of cocaine

Money is probably the most contaminated thing you come in contact with on a daily basis, just because of the sheer number of people whose hands it goes through every day. It carries virus’s and diseases, and even traces of drugs.

Spain is known to the largest consumer of cocaine in the world, so it’s of little surprise that the money circulating there has high traces of cocaine. On average, Spanish notes contain 155 micrograms of the drug. The cocaine-money exchange, along with the fact that Euro bills are used to snort the stuff, are the main contributing factors. According to a report in the BBC, Spain has over 1 billion notes in circulation, of which an estimated 142 million have been used to snort cocaine.

Apparently, it’s cheap to buy cocaine in Europe (€60 a gram) because of efforts too boost production by Colombian paramilitaries who need money for weapons, and Spain is the main country through which they smuggle the drugs in. In fact, yesterday the Spanish government busted a Venezuelan-registered ship carrying 2.5 tonnes of cocaine and arrested 11 people of which 6 were Spaniards.

U.S. bills come as a close second with the notes containing an average of between 2.9 and 28.8 micrograms; however, in 1996, upto 1,300 micrograms were found on some of the bills.

The Israeli shekel: Giving the euro a run for its money

There’s been a lot of talk about the poor dollar to euro exchange rate, but it might not be the European currency that travelers should be concerned about. In fact, in terms of economic gains against global currencies, it looks like the Israeli shekel is currently the world’s strongest currency.

Since the beginning of 2008, the shekel has made significant gains against most of the world’s major currencies; 15% against the U.S. dollar, as well as just a little more against the British pound and the Canadian dollar, 8% against the Swedish kroner and 24% against the South African rand. And against the euro? The shekel has strengthened by 9% against the European currency. But even with a strong currency, Israel still hopes to attracts flocks of tourists, 2.8 million this year alone.

How to get your piece of a $336 million settlement if you’ve used an American credit card abroad

If you’re an American and have used your MasterCard, Visa or Diners Club card to make purchases in a foreign country, you’ve probably just received in the mail the same thing I did a few days ago: a settlement letter from the US District Court.

It turns out that American credit card companies collectively decided upon a “Foreign Transaction” fee of 1-3% for every purchase made in another country. According to a recent class action lawsuit, this is in violation of antitrust laws. But that’s not all. The credit companies then decided to bury the fee by not disclosing it on billing statements. Very bad!

When furious cardholders finally discovered this, they fought back and won a $336 million settlement. What does this mean to you? If you’ve traveled abroad and used your credit card between February 1, 1996 to November 8, 2006, that makes you eligible for part of the settlement.

Card holders can choose between three options:

1. Easy Refund: a quick $25 in your pocket regardless of what you spent.
2. Total Estimation Refund: This is 1% of your estimated foreign transactions providing you spent a minimum of $2,500 aboard
3. Annual Estimated Refund: This is only available if you’ve had “extensive foreign travel or foreign transactions” and are willing to provide “year-by-year information.” Refunds will range from 1-3%.

This won’t stop the fees in the future, however. They will still exist, and be called out on your statement. One option to avoid this, however, is to opt for the Capital One card which doesn’t charge such fees and, as a result, the company is breathing a heavy sigh of relief for not being included in the $336 million settlement.

Related: Hidden Credit Card Charges