WORLD BANKNOTE AUCTIONS: 2023 REVIEW

With 2023 coming to an end it is time for a brief look back on the past year and more importantly, a look forward to 2024 and beyond. Here at World Banknote Auctions we look back on a fantastic year, with tens of thousands of different lots offered in our auctions, and an overall sell-through rate of well in excess of 90% and many record-setting sales. We expanded more into US Currency and were able to offer a number of fantastic collections, including parts 1 and 2 of the Navy Commander Collection of National Banknotes and the Louisiana Bayou Collection of High Denomination notes. On the world side we offered the Isabella Chang Fong and Ian Marshall Collection of Jamaica, the catalog of which will no doubt become an important reference work on the banknotes of that country.

If there is one keyword that comes to mind when discussing the paper money market in 2023 it would be, in my opinion, maturing. With the Covid-era now behind us (which saw a sudden and dramatic increase in demand for collectibles as a whole) it seems like the past four years has seen a dramatic swing in demand for paper money. New collectors have entered the market, and new registrations on our website have been steady in the past year, indicating a continued interest in paper money as collectibles. The crazy increase in prices that we have seen, however, has slowed down and a correction is evident in some areas, particularly for relatively common notes in better grades. Rarities continue to be in demand, and certain countries outperform others (the recent uptick in demand for notes of Persia and Iran as the prime example), but collectors are realizing that paying top dollar for every single note is no longer necessary, as another one is likely to come along. This is not necessarily a bad thing, and as a whole, prices are still higher than they were before 2020, especially for notes in better grades with fully original paper (something that is becoming more and more important).

World Banknote Auctions was recently named one of the top 100 Most Influential Companies by Coin World, something of which me and the entire team is extremely proud. Looking ahead to 2024, we have a couple of exciting things planned for the new year. We are continuing to implement changes to the website to provide a better experience. Soon, you will be able to purchase banknote collecting supplies in our online store, to be followed by direct sales of select better US and World Currency. We are currently updating our backend system and hope to rollout a new system in the next few months that will provide a better experience for both consignors and buyers. World Banknote Auctions has always focused on its detailed listings, high-quality catalogs and buyer-friendly policies, which include a low 15% buyer's premium for online sales and flat-rate shipping. On the consignment side, we continue to offer no seller's commission on any consignments, along with no other fees that are often found elsewhere, such as listing fees, catalog fees or imaging fees. We also continue to offer dedicated catalogs for advanced collections.

Besides our regular US and World Currency sales we have a couple of special sales already planned for 2024. In the first quarter we will offer selections from the Howard Daniel research collection of South-East Asia. Howard Daniel was one of the eminent researchers of the (paper) money of that area and published several important catalogs on the region. In late 2024 we will offer the first part of the Eric Agnew collection of California Financial History. Focused on National Banknotes of California, this is the most complete and advanced collection of the Golden State ever brought to the market and is sure to become a classic and important catalog once published.

This leaves me with wishing all collectors all the best for 2024, happy collecting, and don't hesitate to reach out with any questions, comments and concerns.

To visit the WBNA website, see:
https://www.worldbanknoteauctions.com/

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