We have talked to some of the most active influencers of the coins and banknotes collecting world.
JOSÉ ANTONIO CASTELLANOS
We need to think if a certification job justifies an increase of the banknote price twice or trice.
Besides his job as an Engineer Projects Manager, he is passionate about arts and collecting. He invests a lot of time in writing and divulging specialized knowledge through his ‘Notafilia y Escriptofilia Española encyclopaedia’ and YouTube channel. www.enciclopediadenotafilia.es /www.youtube/c/Enciclopediadenotafiliayescripofiliaespañola
What can you tell us about your Encyclopaedia and YouTube channel?
Like anyone else, I started in this world collecting coins. After a while I focused on banknotes and security documents. I could be considered a specialist in Spanish history and banknotes making process, but my real passion is the error and fakes editions. I enjoy doing inverse engineering and studying how they would have been produced. In both, the encyclopaedia and YouTube, you will find lots of information about those topics, but also about the detailed history of all Spanish money issues and debt. Both aspects can’t be separated when you try to understand Spanish economical history. As an Engineer, my weakness is paper making and artistic and productive process of banknote creation. In my opinion, this is something that every average collector should be familiar with, not only because it is interesting, but also to avoid fraud.
How do you see the market right now?
As with any other market, the numismatic one is cyclic. We came from a period of extremely high banknote prices. Internet mass use and online auctions were democratizing prices till a few years ago when they started to increase again. In general, some banknotes that have been retained are decreasing, but others are being considered top quality. I think this is going to be the tendency from now on: high quality banknotes with an exorbitant price conditioning the ones under them. In the meantime, some unscrupulous will continue to scam collectors with fake pieces. We must get rid of that part.
What do you think is behind this price spike?
As I mentioned before, it is a cyclic process. New participants, buying and selling, intensify the market and prices with commercial strategies. They also start in this world with the anxiety of growing fast. Nothing unusual in a demand and supply normal process. Something specific to the numismatic market is, on one side, merchants holding pieces and, on the other, collecting globalization. These two points are basic in a market where products are not manufactured but merely exist. Usually very demanding pieces collapse as the number of collectors is finite and the supply high. But when these demanded pieces are held, an effect of artificial shortage is created. I think this will affect favourably to the merchant at the beginning but, in the long term, it will produce disappointment among the collectors. Some of them will give up, the demand will be reduced and prices will decrease. Nobody wants to lose money and the irruption of certificate banknotes is a way of ‘creating product’. Merchants will use it to increase benefits. Another question is if a certification job justifies an increase of the price twice or trice. Another way of ‘creating product’ is manipulating banknotes to make them look better or falsifying errors. I hope this end soon enough, otherwise this will be destroyed before they think.
What is different about your channel?
I’m very proud of the job done in the Encyclopaedia. It’s been many years of investigation and study (I’d have spent over 5000 hours on it). Thanks to the Internet and all offline archives I had access to, the Encyclopaedia is in a higher level now. It is the book most complete and with the highest quality information about anything related to banknote world. If something is not there is because it doesn’t exist. There is lots of unpublished and organized information so anyone, beginner or expert, can enjoy it. It is created for everyone: lovers and history investigators, lawyers with an interest in this world, engineers or future engineers who want to learn how a banknote is made, artists and art lovers, biography followers, all profile collectors, beginners in need of a guide and many more. Everybody will find something to like, to be surprised about, or to learn.
On the YouTube channel I try to show all the information people can find in books through didactic videos or even commenting auctions. My goal is for people to squeeze this hobby reading and watching videos leaving aside all empty data you can find in every catalog (and usually mistaken). I hope in a short period of time people can enjoy even more new books and even a numismatic novel.
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FERNANDO UYARGUARI UYARGUARI
The tendency is following more evolved countries like the United States
Fernando is a scientific investigator. In his free time he collects banknotes and also postal cards and football cards. He has a blog about Notaphily and Numismatics: https://numis-nota.blogspot.com/
What is your specialty?
I don’t see myself as an expert. However, the collecting world has driven me through certain topics such Ecuado’s notaphily and numismatics. Also scientific world banknotes. In my collection I have tried to get at least one piece of every existing country and some of the extinct or former colonies. Last year I initiated myself in Ecuadorian postal cards and football cards. I’m a collector since 20 years ago and lately I’m selling world banknotes in my country too (Ecuador). On my blog, I write about world banknotes and Ecuadorian coins.
How do you see the actual market?
According to my experience in Ecuador (where I have my permanent residence) and in Spain, where I lived 6 years during my post-university studies, there are different market points of view. The tendency is following more evolved countries like the United States: look for better quality and certify pieces, create trust auction houses with warranties… Talking about Ecuador in particular, there are more and more collectors every year who are investing more money as well.
How do you see the price situation in Ecuador?
With the increase of collectors and the return home of coins that were abroad we can see a decrease in coin prices and they are more accessible. We have not lived in a numismatic bubble yet like in other countries with a more important numismatic market.
What is special about your blog?
I published information never seen before: the first Ecuadorian coin catalog, a statistic with banknotes with scientific by country and continent, the difficulties of completing a world collection including former colonies, golden Ecuadorian coins in foreign collections…
Regarding my little business, in Ecuador, I sell new banknotes, new issues of several countries, in special Africa and Oceania, very popular here because of their exotics and nice designs.
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RAÚL TRENZANO ELBAL
A few years ago we were considered fools for certifying our pieces but I predicted what is happening now.
Originally from Valencia (Spain) he has always tried to spread and divulge his passion for the collecting world. His channel ‘Notafilia y numismática española’ is every day bigger and right now he is on a professional level, but always keeping a close touch with other mates. https://www.facebook.com/groups/EXCLUSIVEBANKNOTES
What are the highlights of your channel?
I consider myself an expert in certifying banknotes. I’ve been doing it for around 10 years and we have released the first catalog with updated prices, including normal and certified banknotes. We have been very successful so far and we are almost running out of pieces. I’m always improving my technique and rarely make a mistake as I can’t afford it and neither collectors who trust me and my work. When I started to certify we were a bunch of us interested in it. We were almost considered fools but I predicted what is happening now.
How do you think the market is evolving?
Spain is just following Europe and overall the United States tendencies. The problem was that certification wasn’t popular here till now auction houses are implementing it. This was inevitable and all professionals are adapting to it. This is simply evolution.
Do you think we are inside a numismatic bubble?
Prices right now are insane, overall the higher grades. I think this is due to new collectors who, with no transition like us, are buying certified banknotes tired of unscrupulous sellers. They prefer to pay more than be scammed. Not sure if we are in a bubble but sooner or later market will stabilize again. It has happened before. It is a very volatile market.
What would you tell us about your channel?
I’m a very clear and straight person. My content is different from any other YouTube channel and I try my best to upload top quality videos, especially during the last year. I like to take care of every detail and I not only talk about banknotes per se, but artists and designs on them. I don’t like to be one more of many and that’s why it has grown quite a lot in the last few months. If you want to be different you have to be different. I don’t see it as a business because I don’t get any money yet, although I meet all YouTube requirements to monetize my content. For now it is more of a hobby and a way to show others what I know in a plain way. I think that’s the reason I ‘m not stuck. My goal is to support others and anybody will find a friend in me. That’s why I have so many friends and mates that appreciate me. I can be found on social media as Raul Trenzano Elbal, on my Facebook group of Notaphily and Numismatic or in my YouTube channel.
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DAVID LLAMAS
The price increas is due to three factors: new collectors, investors and excess of circulating money
He is focused in numismatics not only as a collector but as a trader as well. You can find him here www.numismaticallamas.es
What would you define as your specialty?
I don’t like to talk about myself like an expert because numismatics is a huge field with lots of history, pieces… I learn something new every day. It is really hard to completely control a topic. However, my bigger knowledge is about the imperial Roman coin, the Spanish monarchy and the centenary period.
Where do you think is the market heading to?
The tendency is obviously rising and honestly I don’t know where the limit is. Our market is following the American one. Tendencies, habits and prices are being notorious in our country, like in other fields. That’s something normal in a global world.
What about the huge price increase?
In my opinion, this is due to three factors: new collectors, investors and excess of circulating money. All these, and mainly wealthy investors, are provoking an unprecedented increment in prices. And as I mentioned before, it doesn’t seem to stop anytime soon. Said that, it’s true that in the medium term the demand will flat and we’ll see more affordable prices (not like before the pandemic though). We’ll see as well a change in collector’s mentality as we will find in the medium-high quality coins our main objective for our collections.
What is your business strength?
It is built over good customer service, honesty and transparency base. There is an enormous work on my web, and supporting it, my social media profiles and contacts/friends I’ve made in them. My main objective is my client’s satisfaction and tranquillity knowing what they are purchasing is authentic and they will be backed by a company with over 50 years of experience.
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PEPE BOTELLA
Auction’s final prices are completely insane
The founder and administrator of ‘La taberna de la Numismática y la Notafilia’ Facebook group. In only one year it already has around 1750 members, called ‘los taberneros’. “My job is to serve chilly virtual beers in my group giving them back a denarius or a real”. He is also a member of the ‘Friends of money house of Segovia’ association. He collects the Spanish banknotes and Spanish Civil War.
What is the best of your Facebook group?
The tavern (la taberna) was created as a free and relaxed space where new and veteran collectors could meet. We count as well with more and more well- known professionals interested in what is going on here. This is very important as I think merchants take notes of what is it said in the group. There are among us numismatic and notaphily writers and authors like José Antonio Castellano (Enciclopedia de la Notafilia y Escriptofilia Española) or Adolfo Ruiz Calleja (Blog numismático). I think the real strength of the group is the good atmosphere we have all created.
Which direction is taking the market?
I’m not in a position to predict the evolution of the market really. I think prices started to rise dramatically during the first Covid-19 wave when lots of new numismatic groups were created. We can deny the power of social media. Thanks to numismastic Facebook groups and webs market has evolved quicker. Personally I would say that after years of collecting banknotes I have decided to certify my collection. I have two reasons to do it: the II Numismatic Convention of Barcelona, organized by Carlos Alcaraz y Ruiz Calleja. There I really enjoy watching the fantastic certified collection of Juan Francisco Huerta Espada. What Juan Francisco was transmitting to the public was meaningful to me. The second reason was the opening of NCV Grading offering certification from Valencia. Those are the reasons why I’m into certification right now.
Considering the brutal price rising, would you say we are into a numismatic bubble?
I took part in the two last Aureo &Calicó auctions and the final prices are completely insane. But really I think that local Spanish War banknote is a tendency now!
Tell us what is different about your group
La taberna de la numismática y notafilia Facebook group is managed by Carlos Delgado and me. We are humble collectors that merely want to have a good time while we are online. People can see that all we do is done with love. What you can find in this tavern? Just an example, recently someone posted a video of a great 500 pesetas of 1880 without manipulation. We also have very interesting debates. Of course, you will find lots of pictures with beautiful coins and a beer or a nice paella any Sunday.
By the way, I would like to thank NCV Grading for this interview. And I want to thank as well all taberneros and, especially, Carlos Delgado (one of my pillars). I invite everybody to join us, first round is on Carlos and me.
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LUIS HERRERO
Banknotes manipulation has become a profitable business
Collector, merchant and banknotes ‘hunter. He worked for years in banknotes certification companies having the chance of being in touch with real notaphily gems from around the world. He was trained (and still is) with “the best”, Jaime Sanz. Together they travel around the world searching for unique pieces. www.billetesantiguos.es
What are your specialty and the strength of your business?
My specialty is Spanish omelet, mountain walks and examination and valuation or banknotes. I use generally the Sheldon scale and an estimation of the market price. My business highlights would be transparency, care and quality service. Among my clients there are important collectors. I learn from them daily, understanding and enjoying this hobby from different points of view. I actively participate in the Cid-Pulido collection, guarded by Jabitxu, a client and a good friend, with who I learn new things with every conversation, every wine, pintxo… Not only numismatic wise, but personally too.
How do you see the market and where is it going?
Banknotes manipulation has become a profitable business. Every day tons of adulterated banknotes enter the market and they are tolerated significantly by businesses that were supposed to detect them. In my opinion a huge bubble is being created and it will explode sooner or later.
What is all this coming from?
The price increase is happening in high quality and rare pieces. We are coming from a place where only very advanced collectors really examined their purchases (I mean overall 5 years ago and before) being victims many times of scams. Reality today is that, besides the incursion of the certification business, there is a ‘fever’ for getting spotless pieces.
What is your business leitmotif?
I successfully managed to turn my hobby, banknotes, into my way of life years ago. On many occasions I feel my client’s collections as mine and I focus my whole business on enjoying banknotes.
