Society of Paper Money Collectors, Inc. Announces New Membership Rates and Decision to Continue to Make Old Lifetime Membership Rates Available through Year End at Website Only

Boston, MA

Pierre Fricke, President of the Society of Paper Money Collectors, Inc. today announced that the Society has reached a decision to increase its annual and lifetime rates for its U.S., Canadian and Overseas members. Rates for U.S. residents as receive the magazine in hard copy form will increase to $39.00. Canadian and Mexican recipients will now pay $50.00, and those residing elsewhere pay $60.00. These increases were approved by the Society’s Board of Governors earlier this year and are now in effect. The Board also made a decision to increase life membership rates to $800 for U.S. residents as receive the magazine in hard copy form,  Canadian and Mexican recipients will now pay $1,000.00, and those residing elsewhere $1,200.00.These rates are also effective immediately unless members wish to avail themselves of the option to join as a life member or convert to life membership at the Society’s website [www.spmc.org], in which case the “old” life member rates will remain in effect [$600.00 U.S., $700.00 Canada and Mexico, $800.00 elsewhere] until December 31st of 2013.

The Society’s “paperless” memberships are priced at $14.00 [junior], $20.00 [regular], and $400.00 [life], and in keeping with their nature, can be purchased at the Society’s website, www.spmc.org. Those interested in joining at the website are encouraged to click on the Membership tab on the home page, and choose their desired options from that portion of the site. 

Commenting on the announcement, Mr. Fricke stated, “The Officers and Board of the Society came to this inevitable decision after several years of making every effort to reduce and/or manage costs without diminishing the quality of our award winning journal, Paper Money, or the benefits we provide to our most important constituents, our members. We are proud to remind our members that we have not increased member rates in any way for over a decade, but after much thoughtful discussion, the board has concluded that increases in costs and the current financial environment make this decision inevitable and prudent.”

President Fricke added that “Members and prospective members should be aware of two aspects of the Society’s rate structure which may soften the impact of these changes. The first is short term, lasting only until December 31st of 2013, and consists of the decision to maintain the Society’s life member rates at the ‘old prices’ until the end of 2013 for any new or converting member as uses the Society’s website to join or convert. However, after the first of the year, this option will disappear.”

The second feature of which Members and prospective members should be aware is the significantly more economical alternative of joining the Society as a paper- less member, receiving the journal in electronic rather than paper form. Delivery of the Society’s principal benefit  in this form allows for substantial savings to the Society, and the web-based membership price structure was not affected by the Board’s recent action. Governor Shawn Hewitt, who oversaw the design and implementation of the Society’s web-site, confirmed that “We recognize that there are an increasing number of our present and new members who prefer the delivery of our Journal in electronic form, both from a convenience and from a pricing standpoint. One of the benefits of the development of this channel to our members is its insularity from many of the costs associated with the traditional manner of delivering Paper Money, and this is reflected in our ability to keep these prices unchanged for the present time.”

The Society of Paper Money Collectors, Inc. is a not-for-profit organization founded in 1961, and is dedicated to promoting, stimulating and advancing the study of paper money and other financial documents in all their branches along educational, historical and scientific lines. In addition to publication of an award winning journal, the Society funds original research, publishes books, and provides a wide array of educational and recognition programs in the paper money field. Interested parties are encouraged to visit the organization’s website, www.spmc.org, and mail inquiries are directed to Pierre Fricke, P.O. Box 1094, Sudbury, MA 01776.

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