Memphis attracts paper fans

I’m on the road again, heading to Memphis, Tenn., to attend the International Paper Money show that has been held there annually since 1977.

I will not be alone. As the premier paper money event in the nation, it will attract a large group of avid paper money collectors. They will not be deterred by the high price of gasoline or the level of inconvenience at the airports.

The market remains hungry for fresh material and the only chance of finding it is to be the first one in line as your favorite dealer source sets up today on the bourse floor at the Cook convention center.

Lyn Knight’s auction also begins tonight and it is not short of desirable material.

Currently, the paper money market is suffering from the problems of success. There are more buyers with money than ever before and they are chasing a limited supply of notes.

Perhaps the irony in this is that when the show was founded, it was located in Memphis as a cheap and easily driveable venue for people who were engaged in an activity that was then coin collecting’s poor relation.

Anyone who bought any significant pieces in 1977 can now add a couple of zeroes to the price.

What will collectors in 2039 be saying about the notes purchased this year?