Just because an item seems rare in the United States, this does not mean that it holds numismatic value above the legal-tender amount in the issuing country. Just like U.S. coinage and currency issues, foreign money holds numismatic value based on rarity and condition. You can ascertain a retail value range from Standard Catalog of World Coins and the Standard Catalog of World Paper Money both published by Krause Publications. These sources are often found in libraries and bookstores or you can order them directly from the ANA MoneyMarket. You may also want to consult a local ANA-member dealer for evaluation.

It does seem a bit odd that a coin from an Asian country would bear a denomination that is usually attributed to Spanish countries, but there is an explanation. The Philippines were held by Spain until the end of the 19th century, when the islands were ceded to the United States after the Spanish-American War. However, the monetary system remained unchanged.

The islands were invaded by Japan during WWII. Originating from this time period we find occupation currency announcing the Japanese government, written in English, but bearing Spanish denominations. Although the Philippines became a self-governing commonwealth of the United States in 1935, monetary reform did not occur until after 1965.

Such notes are inflationary currency from the Weimar Republic in Germany after WWI. Due to war reparations, this period in German history is marked by extreme economic depression and high inflation. The high denomination of the notes is evidence of the government’s efforts to combat the rampant inflation. Notes were printed in denominations of millions and even billions. While these notes no longer carry legal-tender value, since the Weimar Republic in longer a functioning government, some hold collector value. The Standard Catalog of World Paper Money; 1901 to Present has an excellent section detailing these issues.

Theresienstadt (Terezin), a Jewish ghetto created by the Nazis, was located in Czechoslovakia. It was built specifically as a high-profile camp for prominent Jews, WWI veterans and heroes and the wealthy. It also served as a stopover for prisoners on their way to one of the death camps in Poland. Terezin was a "model" ghetto and was designed and maintained to impress the International Red Cross. It was the only concentration camp to allow visitors. The elaborately printed notes, featuring an engraving of Moses, made the money seem quite impressive; in reality the notes were just for show and only good for library rentals.

Until the early 1970s, the notes issued from this camp were thought to be quite rare and so held a high collector value. However, in 1973 941 complete sets were sold at auction. Also, shortly after WWII, when bulldozing the remains of the ghetto, a soldier found enough 20 Kronen notes to fill a suitcase. These notes have been distributed as well.

Since collector value is heavily based on rarity and condition, these finds caused the market values to drop dramatically. Current published listings show a collector value of approximately $10 for each note in new condition, and no premium for a full set.

While mediums of exchange have existed for all time, the first coins, as we know them, were struck under King Ardys, (652-615 B.C.) ruler of Lydia; located in modern-day Turkey. The coins were struck from electrum, a naturally occurring alloy of gold and silver that was found in quantity in the mountains and streams of the country. The obverse design was incuse, or sunk into the coin, and the reverse was left blank.

King Croesus of Lydia (561-456 B.C.) produced "standardized" gold coinage bearing an obverse design of the royal symbol of two facing lions, and a bull on the reverse. Surprisingly, the coins of Croesus were of 98 percent pure gold, an amazing feat given the primitive means available to process precious metal at the time.

Ptolemy I (323-285B.C.) of Egypt was the first ruler to place his own image on the coins issued under his authority, a practice that continues to present day.

The same rules of numismatics govern ancient coins as well. Collector value is based on rarity, condition and market factors; age does not contribute to value. Since mintage figures are unknown, there is a relative amount of uncertainty involved in collecting ancients. A valuable coin previously believed to be rare can have its value usurped by the discovery of a hoard of the same type of coin. There are many sources specific to the study of ancients. Some can be found in public libraries, but the ANA MoneyMarket carries a full line of publications that can help you identify and evaluate your ancient coins.