Postal Notes are Scarce, but Not in High Demand, Point Out Old Money Dealers, Antique Money

NORCROSS, GA, June 05, 2013 (Press-News.org) According to rare currency dealer Antique Money, postal notes were created by the U.S. Post Office in 1883. They acted as money orders, allowing people to send relatively small amounts of money without mailing actual cash.

Why Were Postal Notes Issued?
Postal notes were useful at a time when most people did not have checking accounts and bank checks were expensive. Postal notes replaced the fractional currency notes that were used during and after the Civil War rather than coins, which were in short supply.

When someone purchased a postal note, the postal clerk would punch the appropriate numbers on the note to indicate the note's value. They were valued in amounts from one cent to $4.99 and cost three cents to purchase. Because they were payable to the bearer, anyone who found one could cash it. Postal notes frequently disappeared from postal offices, and postal clerks in particular were blamed.

The Value of Postal Notes
The most valuable postal notes are those issued in 1883 and 1884. They were printed on gold color paper, as opposed to later issues, which were gray. The gold-colored notes are referred to by rare money collectors as Type 1. Many of those that survive today were saved as souvenirs by local postmasters, often payable for very small amounts, and purchased on the last day of issuance. Postal notes that have an amount designated by numbers being punched out are worth more than those without an amount since they were not given a monetary value until they were purchased.

As with old money, a postal note's value is based on factors like denomination, serial number, location of issuance, and condition. Generally, postal notes from western states and territories, southern states, and small towns are less common and more valuable than postal notes from large cities or from New England and the Midwest. Notes with a serial number of "1" are especially valuable.

Manning Garrett, Owner of Antique Money, says that his company buys postal notes and is particularly interested in the 1883 and 1884 issues. According to Garrett, "They are not especially popular with a currency dealer since they are not actually money. However, we are interested in buying them - particularly the rarer varieties."

For more information on postal notes and the old currency buyers, visit their website at http://www.antiquemoney.com.

About Antique Money:
AntiqueMoney.com is the top buyer of old money in the U.S. They specialize in rare bank notes, large size currency and other collectible money. Since they are both collectors and resellers, AntiqueMoney.com is always looking for collectible currency for their inventory and collection. Free appraisals and offers are available to anyone interested in finding the value of and/or selling antique paper money.

For more information, please visit http://www.antiquemoney.com.

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