I'm being interviewed in the Facebook group Spanish Numismatics and Notaphily. New numismatist in Gijón

1. Francisco, every great collector has a beginning. How did you get started in notaphily?

I started by inheriting a small collection of Spanish banknotes from my maternal grandfather, which my mother gave me when he passed away. I still keep those banknotes safe. It's true that I never felt compelled to continue his collection, I won't lie about that.

One day, more than 10 years ago, I was struck by an eBay advertisement and saw a lot of 100 banknotes for 35 euros. I hadn't collected anything since childhood trading cards, and I decided to buy them. When I received them, I felt the thrill of collecting again and realized that banknotes reflected part of the history of different countries, and I loved that.

My number one hobby has always been traveling, and I've been fortunate enough to visit more than 100 countries in my lifetime. For a year, at 26, I quit my engineering job at a major multinational engineering company and traveled the world with a backpack. Back then, there were no mobile phones, and it was the greatest adventure of my life.

Let's say that reliving those trips through banknotes got me hooked, and I decided to collect one banknote from each country. Then I decided to collect polymer banknotes and commemorative ones, and later banknotes from the United Kingdom and Queen Elizabeth II. Brexit happened, and because everything was getting stopped at customs and the cost involved, I had to abandon that collection.

It's always been hard for me to focus when collecting, and it still is. I see banknotes that catch my eye, for whatever reason, and if I can buy them, I do... I know this goes against the recommendations of most experts who preach specialization in a particular theme over dabbling... But, I like to snack between meals, and I'm happy with it. That's why I try to focus on Ibero-American banknotes, but especially on 5 countries: Argentina, Venezuela, Cuba, Brazil, and El Salvador, for which I collect all variants and prefixes.

Collecting all prefixes gets a bit boring, it must be said, it's like doing a very large word search puzzle, haha. Many people think that collecting modern Cuban and Venezuelan banknotes is collecting "crappy" banknotes. I don't think they realize that there are many rare modern variants available at a good price, due to the countries being a bit messy in their issuance, and that you can build a collection of modern rarities with very little investment.

2. Collecting Ibero-American banknotes is fascinating and full of history. What attracts you most to this particular region?

What attracts me most to collecting them is being able to learn about their countries and history, which ultimately isn't that different from our own.

3. Over the years, what would you say has been the most difficult piece to acquire for your personal collection and why?

Unfortunately, I don't have any rare banknotes. A rare banknote is one whose existence is not reported in more than 5 units. All the banknotes I have are considered common, and if you put money on the table, they appear in hours. What I find most difficult is finding a modern prefix or a modern replacement, not because it's rare, but because few people collect those, and they are not seen for sale.

4. For you, is banknote collecting a financial investment, historical preservation, or pure passion?

Above all, a financial investment. I am aware that life has its ups and downs, and it's important to buy things that, if you ever need liquidity, you can easily sell without losing money. That's why I prefer to pay a little more for first prefixes, low serial numbers, and replacements, than for any banknote with a random serial number.

🌐 Iberoamericana Banknotes and the role of an authorized PMG dealer

5. How did the idea of making the leap from collector to professional with your website Iberoamericana Banknotes come about?

First, I need to explain two things: for over 16 years, I've been a civil servant teacher of Machining and Machine Maintenance at Spain's largest civil building: the Labor University of Gijón. Shortly after COVID, I decided I was going to become a professional in notaphily, but then…

I had a daughter, and everyone knows what that entails, so I put the idea aside. More than a year and a half ago, I requested compatibility to engage in private self-employment, registered as a freelancer, and began my journey selling online to collectors I've met over the years, mostly through social media.

It's only been 6 months since I decided to get the website up and running, which I created myself, to have everything a bit more organized, as selling through private conversations takes a lot of time. That's how www.iberoamericanabanknotes.com was born.

6. When visiting your website, we see a very specialized catalog. How do you manage the search for international pieces to stock the website, and what guarantees do users look for when buying collector banknotes there?

First of all, I want to mention two things: the website is in Beta phase, meaning it's in testing mode, and the stock on the website represents only 1% of what I have for sale. I've only uploaded graded banknotes because I could use the photos from the PMG Population Report, instead of photographing everything, which takes much longer. In other words, it's not that the website is primarily for selling certified banknotes, but I started there because it was quicker and less work for me.

How do I stock the page? Well, I believe that over the years I've met many collectors through social media, and in the last 4 years, many in person, mainly at the world's largest banknote fair in Maastricht. My work on social media for over 9 years has allowed me to visit fairs in the last 4 years as press. I also continue to travel as much as I can, despite having a young daughter, and I always make time during my trips to meet with local collectors.

7. In addition to the online store, your web platform serves as a meeting point and consultation resource. What importance do you place on historical dissemination and informative content within Iberoamericana Banknotes?

Sometimes I think I should sell more and write less. I'm lucky that I don't need to sell banknotes to make a living because I have another job, so if I feel like spending an afternoon writing or reading something, I do it. I'm not an expert in anything, I always say that, but I'm lucky enough to know many experts and not be ashamed to ask them questions. I like to gain knowledge through not knowing!

8. Being an authorized dealer for PMG (Paper Money Guaranty) is a mark of prestige in banknote certification. What requirements or challenges did you undertake to achieve this certification?

When I applied more than 7 years ago, I think there were only 3 or 4 authorized dealers in Spain. I did it at the same time as a great friend of mine, the Colombian living in Canada, Mauricio Acosta. He was the one who, more than 8 years ago, advocated for certification in Colombia when no one else did, and he taught me how to properly examine banknotes. I was lucky to learn this from him. Getting it was very easy; I had to send about 5 references from industry professionals who would endorse my application, and little else.

Anyone can be one; I don't think it provides any extra prestige to anyone. If we mention that we are Authorized Dealers, it's more to reassure customers and make them feel comfortable working with us. Prestige is earned or lost when deals are made and problems arise. Everyone can make mistakes. If you solve them well, you gain prestige; if you're a slob, you lose it.

9. How has the arrival of PMG's grading and encapsulation system changed the notaphily market?

I believe it has helped people to look more closely at the condition of banknotes and to protect them better. It is our responsibility as collectors to leave banknotes in the best possible condition for future collectors. I respect all types of collectors. Only 1% of my collection is graded. What is clear is that grading companies are here to stay because the market demands it. It is true that PMG's monopoly is overwhelming, and it would be good if other certifiers could reach their level. This would make them compete, not become complacent, and improve their grading system for the benefit of collecting.

🏪 The new project: numismatic store in Gijón

10. You're about to open a numismatic store in Gijón focused on banknote collectors. What motivated you to take this step in such a digital age?

Exclusively for banknote collectors? We'll see... but I'll probably be the only one there, haha.

There are several reasons. The first is that as my family grows, my apartment is becoming too small. The arrival of my daughter and my mother-in-law means I have to look for more space elsewhere. Buying a bigger apartment, nowadays, involves a series of expenses and purchase taxes that practically cover the acquisition of a commercial space. That's why I've acquired one near my home in Gijón, to, let's say, have my own territory.

On the other hand, I want to try to do something a little different, something that brings notaphily to more people, although we'll see how it turns out... If new collectors aren't created, there will be no one to buy the banknotes from our collections in the future... It all seems very easy, but entrepreneurship in Spain is really difficult.

11. What experience or atmosphere do you want collectors to find when they walk through the door of your new store?

I want them to realize they've never been to a place like this. Like the Disney World for banknote collectors, haha. Seriously though, I want them to want to come back. That's enough for me.

12. In addition to buying and selling banknotes, will the store offer other services such as advice, appraisals, or receiving pieces for PMG?

Yes. All that will be possible and many more surprises.

13. Beyond a point of sale, do you envision this new location as a club or meeting center where enthusiasts can share their knowledge and discuss notaphily?

Without a doubt. I like to do things. They say I'm a bit hyperactive. I'm sure we'll hear that something good for notaphily is happening in that place.

🔮 Future vision of the antique banknote market and notaphily

14. What trends do you currently observe in the banknote collecting market in Spain and Latin America?

I've never seriously collected Spanish banknotes, so I can't comment on that. I'd prefer someone with more knowledge than me to answer that question. In Latin America, and specifically in Colombia and Mexico, I believe prices have skyrocketed enormously in the last 10 years. I think there might be a bit of a bubble, aided by collectors from those countries who now reside more comfortably in the United States. We'll see.

15. To conclude, Francisco, what is the great dream or ultimate goal you still have to achieve in the world of notaphily?

My ultimate goal, perhaps a very ambitious one, is to be remembered by banknote collectors when I die, not for leaving them pedigreed banknotes in their collections, or for my knowledge of the subject, but for having helped them improve their collections and become better collectors.