Prices of banknotes?

The cheapest way to get banknotes, without doubt, is to find them on grandmothers attic or well hiden in an old book of the grandaunt. That sounds very adventurously, but happens more often than one would believe. But there comes the time at which you have - with more or less success - plundered all attics, cellars and old books of your relatives. Then it is time to search for other sources.

The easiest and fastest way to get banknotes is to buy them from a trader. A lot of coin traders nowadays also offers banknotes in their store. Usually they are arranged in albums and provided with information about their grade and price. You can also buy banknotes in the internet, because in the meantime some traders have their own webshop. An overview of traders austrian banknotes offers the list of traders.

For people, who like to get up early in the morning on weekend and who don´t mind to grab in a neverending number of huge boxes together with masses of other people we recommend flea markets. An overview of flea markets in Austria offers the page sammeln.at.

Another possibility are banknotes- and coin fairs. The most famous austrian fair is the Numiphil, which takes place annualy in december in Vienna.

The most important way to build a collection, beside the buying at a trader, are auctions. Here you have to differ between traditional auctions (where you have to be on the auction place physically) and online auctions (where you can attend from everywhere trough the internet). Traditional banknote auctions for example are organised by the Dorotheum and Auktionen Frühwald.

Online auctions, thats another difference to tradtional auctions, don´t take place at a certain point of time, but span over a longer period (usually up to 10 days). To bid in the auction it is necessary to create a member account first. The vast majority of all online auctions for banknotes takes place at the online auctioneer ebay. An overview of the acutal ebay austrian banknote auctions you can get here: auctions at ebay A low number austrian banknote auctions also takes place at the online auctioneer onetwosold. You can see the actual auctions here: auctions at onetwosold

The price of a banknote primarily depends on its rareness and its conservation. The actual market price are published in collector catalogs. In this you find information about the prices of banknotes in different grades.

Since the 80ies the prices for austrian banknotes have been going up dramatically and it seems like this trend will continue. The reason for this is the strongly increasing demand. Collecting banknotes in the last years is getting more and more popular all over the world and the possibilty to collect banknotes in the internet - with little time exposure and without the necessiy to leave the house - makes collection attractive to a larger person subgroup.

The prices of austrian banknotes are of different nature: Some pieces, that are from the inflation time, are available for only 1 euro or less, others, of which exist only a fiew exmemplares are traded for several thousand euros. The age of a banknote itself doesn´t mean a lot for its value! 1000 Kronen 1922 for example are traded for approximately 4 euros, the much younger 50 schillings of 1962 reach auction prices of 50 euro. So, because you can´t draw conclusions only from the age ore the design of a banknote it is very advisable to use a catalog for collecting.

Following the common grading standards for austrian banknotes togehter with a definition and an example picture (you have to klick on the picture to load the full view).

condition 1:
A perfectly preserved note, with no errors. The bankote wasn´t folded, is not dirty and has perfect edges. Is also called "bankfrisch" or "kassenfrisch" (example picture: 100 Schilling 1960, condition 1)

condition 1- (or aUNC):
A almost uncirculated banknote, which has a minimal error: For example minimal damaged edges, a very minimal staining, or a minimal, nearly invisible bow, but not all together! (example picture: 10 Schilling 1945, condition 1-, minimal damaged edges)

condition 2:
Banknote with one fold. (example picture: 20 Kronen 1919 with a vertical middle fold in condition 2)

condition 3:
Banknote which was folden twice, maybe combined with a minimal edge damages or minimal staining. (example picture: 10 Kronen 1915 with one vertical and one horizontal middle fold)

condition 4:
Banknote which shows considerable circulation, but is in fine condition. Erhaltung. Some folds, perhaps some staining (but not strong!), or minimal tears or pinholes. (picture: 100 Schilling 1927 in condition 4, you can see two strong folds, in the folds mimimal tears, edges damaged)

condition 5:
Worst grade for a worse conserved bankote. For example a banknote with strong tears or with tape repaired banknote or very dirty banknote. Only desirable if the banknote is very rare. (picture: 1000 Kronen 1919)

information regarding the grading:
From country to country there are sometimes big differences in the grading system and even in a country itself the grading always depends a little bit of the personal estimation of the seller: So, to avoid bad suprises at buying it is important to get your own picture of the banknote and to carefully prove the banknote before buying. If you buy banknotes in the internet to prove the quality it´s a good idea to demand a picture of the good in high resolution before buying.