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Wednesday, May 1, 2024

5/1/24 Report - History and Demise of Checks. Finding Paper Money. You Can't Take It With You.

 Written by the TreasureGuide for the exclusive use of the Treasure Beaches Report.

Old Check From TigerTrader on CoinTalk.net
See Old Check Collectors Share Your Checks! | Coin Talk


I can't believe I overlooked this. People collect old checks. And I recently found some from the 1930s and thought they were pretty neat, but even at that, I never thought of checks as being collectibles, which is strange since I look at so many things that way.  I must have gone batty from all the work.

Check collecting is generally accepted to be a branch of bank note collecting. Many checks are collected because of the name of the bank on which they are drawn, vignettes that appear on the checks, or because of the signature that appears on the check.

Source: The Demise of Checks is at Hand - Numismatic News

In the same article...

Checks appear to have originated as ancient Roman praescriptiones. Checks gained popularity among Muslim merchants during the ninth century. These traders invented the sakk, a paper document instructing a merchant’s bank to make a payment from that merchant’s account. The sakk was safer than carrying large amounts of physical coins. Checks came into use in Europe during the 15th century and during the late 17th century in the United States...

At the same time, the Reserve Bank of Australia said, “The share of bank notes used for transactional purposes is estimated to have fallen by five percentage points since early 2020, while cash use in the shadow economy has increased slightly and the proportion of bank notes that are lost has remained unchanged. Overall, the majority of bank notes on issue are currently used for non-transactional purposes, consistent with pre-pandemic trends.”...

I've done a few posts on finding bills. I've found bills floating by in the water while metal detecting as well as in seaweed lines. If you metal detect carnival grounds just after the carnival pulls up and leaves, check any fence lines on the downwind side of the grounds. Also check between the pages of any old books. You never know what you might find there. I've found some nice things hidden in the pages of old books.


Of course some old books can be very valuable too.\

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A few days ago I started a post on the stages of a metal detecting hobby.  I talked a little about how my metal detecting changed over the years.  When I began, I tried to find as many coins as I could, but eventually I changed my primary target and focused on gold jewelry.  Later my primary focus became old shipwreck coins and artifacts.  

Although my primary focus changed from time to time, I was always open to whatever was available.  If I found a spot that was producing one kind of thing I'd work it, but I would quickly switch if a better opportunity opened up.

The diversity of my finds was more varied after I moved to the Treasure Coast.  I discovered places that produced fossils in great numbers at times.  And then I got into bottle hunting after the 2004 hurricanes.  I was doing so much repair work on both my house and helping others, that I had very little time for metal detecting, but I discovered that without even taking time to drive to the beach I could find a lot of old bottles as a result of erosion caused by the hurricanes.  I would have preferred to spend the same time hunting the treasure beaches, but I had other things to do, and hunting buttles helped ease my urge to hunt.  In recent years, due to other responsibilities, once again I couldn't find much time to get out and hunt the beaches, so bottle hunting provided some convenient relaxation and enjoyment.

After recently spending a few weeks emptying my mother's house to get it ready to sell, I couldn't help being impressed by how all the objects accumulated over a lifetime suddenly became orphaned.  I had to get rid of many things, some of which had been held in the family for generations.  It wasn't easy for someone like me.  

Objects carry history, and many of these objects carried a very personal history.  There were things I grew up with, things my parent's had in their younger years, and in some instances, things from my grandparents that were passed down.  Some were no longer in good condition, but they still held a place in my family history.  

One thing I discovered that now means nothing to any other person alive was my mother's master's thesis.  She started college when I went to high school.  Going to college and getting degrees so she could help send her children to college was important to her.  And her masters was an important milestone in her life.  I looked at the bound thesis and knew there was no one else alive that would think it was anything important now that she was gone, but I knew what it meant to her and had trouble getting rid of it.  It was a struggle.  I picked it up and decided to keep it several times before finally getting rid of it.  My master's thesis will probably be next.  It sits in a box in the garage.  I kept it without knowing why.  It had trouble throwing it away, but think I am now ready.

I remember walking to Marchbanks Business Service in downtown Louisville to get my thesis professionally typed.  I had been typing it on messy onionskin paper.  (There is a good chance you don't know what onionskin paper is.)

 It was in an area of Louisville in the nineteen sixties where there had been race riots.  

I wondered if I remembered the name of the business correctly and looked it up.  I was correct.  I found the obituary of the owner, Lena Marchbanks who died at age 80 in 2010.  

Funny how objects hold memories and serve as important landmarks in lives.  The business service wasn't far from the draft board where I caught the bus to go to Fort Knox to take my physical when student deferments were removed when they needed more recruits for the Viet Name war.  I'm getting a Forrest Gump feel here.

(As a side note, another thing some odd person might find interesting is how the charts and graphs for the thesis were made in the days before such things were created with a computer.  You actually got black vinyl lines, asterisks, circles, triangles, etc. and carefully placed them on the page.  Of course, you could do it like a draftsman if you had a steady hand, but the tape worked well and photocopied well.  I think that is something that is probably lost in the ash heap of history, not being significant enough to be recorded anywhere.)

So I started out talking about old objects and that is what many of our finds are.  Some are older than others.  And some have more meaning and personal significance than others.  And some might even have considerable economic value.  And those that are treated well and treasured will possibly be passed on to another owner.  Its been said that we are only temporary caretakers for our treasures.

As important as it is to document and conserve good finds, if you are successful, they will outlast you.  You study and enjoy them for a while, but knowing you will not have them forever, you might start thinking about a distribution plan.  Think about where you would want your treasures to go.  Distribute some of them early - especially if you find a good home or someone that will really appreciate them.  If you have a lot of finds, you don't want to leave the job to your spouse or kids unless they take an unusual interest and really appreciate your finds as much as you do.  And that isn't likely, although it is possible.

One of the things that makes your finds special to you is the experience of hunting and finding them.  There is a story behind your finds that only you know.  They probably mean more to you than most other people.  

Be on the search for the right place for your finds.  If you are lucky, some might go to a museum or a top-notch collector. I was always happy when I could send a find to a museum or to become a part of a high-end collection.  

Maybe I told this story before - I'm not sure - but I was getting rid of some bookshelves my dad made out of the leftover knotty pine wood he used to panel some of the rooms in the house he built.  An older couple saw the shelves and remarked how they were made of real wood, unlike most of the stuff you see these days.  The fellow asked me who made the shelves, and I told him the story.  I was really glad that someone appreciated the shelves the way I did and I was able to tell the story behind them.  That made it easier to let them go.

I've recently been forced to deal with the issue of what the things that are left over after a lifetime.  And I had to face the reality.  At this age or stage of my metal detecting, I look at finds from that perspective, knowing that I can't take them with me.  I think it is good to think about that and manage your collection of finds accordingly.

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Looks like a week of small surf coming up.

Good hunting,

Treasureguide@comcast.net


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