Cash n' carry: Foreign currency is great souvenir

Ron Wise truly loves money. He collects currency and has more than 10,000 bills in his personal collection. And he shares his paper money, and bills owned by others, on the World Paper Money Homepage (www.banknoteworld.com). Its "banknotes" link will lead you to images of more than 16,000 pieces of paper money from around the world.

Wise, a 53-year-old from Indiana, began collecting cash in 1980.

His most rare bill? "Probably a test note produced for the U.S. military for use in Vietnam. There are only 11 known examples of it in private hands. I saw that one bill sold for about $3,500."

What's the appeal?

— Foreign bills are little pieces of bona fide "elsewhere" you can hold.

— They're colorful and interesting, and every denomination is a little bit different.

— Bank notes require less special handling than coins. You don't need to worry about getting fingerprints on bills.

— They're easy to store and don't take much space: 1,000 bills may fit comfortably in a shoebox.

A favorite

"If I had a favorite country for banknotes it would be Papua New Guinea," said Wise. They don't have that many notes, but they show a bird of paradise, boars with tusks, native baskets and assorted sundries. It's a fascinating country, and their currency gives you a little window into their culture."

Is this legal?

Most countries are not concerned about cash leaving their land unless you're involved with dealer-size quantities. Tourists can come and go with small amounts of bills.

Box 'em, book 'em or mount 'em

— Store individual notes in PVC-free ("archive quality") plastic holders (they'll fit into a shoebox) or sheets (for ring binders).

— Keep them in an environment with low and fairly stable humidity. Humidity can damage a note quite quickly.

— "I haven't really had much of a problem with light exposure," Wise says, "but as with any printed product, it will eventually affect the color of the note somewhat."

— If you frame and hang them: "Keep them out of direct sunlight. I've seen offices where bank notes are framed on walls, and I've seen no ill effect from general office lighting or indirect daylight. For your frame, you may want to use a pane of glass that filters out UV rays."

Bringing bills safely home

Wise: "If you have a hardcover book, placing the bills between pages would be good way to protect them, short-term. "Or put them in an envelope and then into a magazine that isn't going to be folded. Paper is pretty resilient, but can take only so much of a bend. Try to keep your bill from getting a crease or a fold."

How can you get these?

— Visit the country.

— Or when someone you know is planning to go there, ask him or her to buy some bills for you. Or offer to buy their leftover currency when they return home.

— Buy the money through the mail from a dealer.

— Purchase the bills at a coin and money show.

Buying overseas

Foreign bills that you get as change when making a purchase may be worn or dirty. You can buy local currency at foreign airports at the current exchange rate, but you will pay an extra fee. Got a debit/credit card? Use it to get new, crisp bills at an ATM.

Older isn't always pricier

What paper money can be worth later generally is determined by scarcity and condition. In some countries, currency can lose face value. They may revalue their money, give you maybe two years to redeem it, and then declare it worthless. The U.S. is one of the few countries where any note printed by the federal government is still worth face value.

About the euro

Most European Union countries, plus others in Europe, have converted to the euro, and their previous national currency is no longer in circulation. In those nations, any paper bills you get as change will be euros. Still, old banknotes are collectibles. In euro-using countries, go to coin or stamp shops to buy old currency.

Euros are localized by country: The prefix of each bill's serial number has a one-letter, country-specific code.

Similarly, some former British colonies in the Caribbean share a pooled currency. The serial number on each bill issued by the East Caribbean Central Bank has a suffix that identifies the country of issue.