Posted by Mike on 1/28/2012 to Miscellaneous

Whilst for the early fore-runner numismatist whose only interest was the collecting of metallic coins of intrinsic value, a good selection of published informative specialist catalogues and booklets on the subject of coin collecting were at hand, whereas although coins and paper money are alike in terms of the fulfillment of the legal requirements to facilitate commerce, that is as far as their similarity extends, there were no such authenticated catalogues or booklets available for those who preferred to collect obsolescent paper bank notes.
The widespread and increasingly growing hoby of collecting World Bank Notes which was rapidly gaining precedence, had long been inhibited due to the scarcity of knowledgeable documentary publications on the subject. Almost 4 decades passed before the first comprehensive standard catalogue of World Paper Money, authored by Albert Pick ( P. prefix referring to catalogue note numbers) which lists details of the paper currency notes issued by approximately 300 countries of the World, dating from 1650 to1960, was published in 1975.

Flying Money
In relatively recent years the multitudinous bank notes of the Chinese provinces have become much more of a specialised subject.
The developement of this form of currency began in the 7th. century A.D. by as early as the 10th. century the Chinese had established a bank note clearing system.
Marco Polo the Venetian explorer traveled to China in the 13th. century, he made note that the Chinese were using paper currency, which they referred to as 'Flying Money' as it was light weight and could easily be circulated throughout the Chinese provinces.This finding was not given any rating of importance in Europe, the Europeans were not able to comprehend the idea of conducting commerce in any way other than by exchange of coins livestock or commodities. In the western hemisphere the concept of paper currency remained dormant. Within Marco Polo's report of his journey and exploration of China his referrence to this form of currency was
not given credence until the 14th. century, Ming Dynasty, 1368 -1644.

The 1 kuan note of the Hung We era (1368-99) made of mulberry paper, produced from the bark of the mulberry tree. This is the earliest obtainable flying money:

World Banknotes Page 2