Money merchant hits right note

I found this news article from many years ago among our files and decided to share this little bit of our history. The news article transcript is below.

Richard Fahy’s banknotes advisory service in Lane Cove has proved a hit

Money merchant hits right note

by MONIQUE BROOKS

OWNING a rare and dated bank note is better than money in the bank, according to banknote consultant and owner of The Right Note, Richard Fahy.

Richard, and partner Bernie Low from Lane Cove, run Australia’s first home advisory service,to evaluate notes and provide advice on storage and retention buying.

Both men worked at a numismatics company which specilised in bank notes and coins.

They established their business in January and Richard says he’s worked every day since.

He said that in the past seven years bank notes dating back to 1913 had appreciated by 10 to 15 per cent and last year by 30 per cent.

In his collection Richard has some of the first notes to be produced in Australia, notes from the King George V, pre-federation, pre-decimal and decimal periods.

Interested clients call and tell them the service required and then a portfolio will be put together, including client options such as prices, certificates of authenticity and grade.

The grade refers to the note’s quality — the less creases or folds, the more it is worth.

The highest quality notes are ones that have not been circulated — never put in someone’s pocket or shop till.

Richard has bought all his notes from collectors, auctions and investors.

He said the reason for his company’s success was that people didn’t have the time to travel into the city to look at a note that might interest them.

“Serious collectors regard their collections, not only as a fascinating hobby but as an investment,” he said. “Australian bank notes continue to outperform most other collectible investments, increasingly being compared to fine art and antiques.”

No doubt this interest would increase with the last $100 note being printed later this year, the last Australian paper note ever to be printed.