Being "right on the money'' is something of a hallmark for American author Dr. Nelson Page Aspen who is back in Bermuda for the launch of his updated book on the Island's currency.

A History of Bermuda and its Paper Money contains colour prints of the 150 or so notes printed since 1914 when the Island made the break from using British currency.

Anyone owning all the original notes plus the specimen and aborted notes could be sitting on a potential six-figure sum says Dr. Aspen.

He explains: "The second pound note printed in Bermuda -- known as the number two note -- went for $6,000 a couple of years ago.

"I believe the first one is at the Bank of Bermuda -- that would be worth at least $10,000.'' And a trawl through attics will certainly pay dividends if you unearth any of the 10,000 first issue one pound notes.

"Even a used note would be worth well above $3,000.'' Bermuda first came to Dr. Aspen's attention when he shared a room at Citadel military college in South Carolina with Joshua Stubbs, brother of the late MP John Stubbs. "I was with him in 1947 and he invited me over but I didn't make the trip until 1959.'' But he found there were few serious collectors of Bermuda currency. He explains: "Worldwide there were just five in 1979 and there was no archive.'' "But Bermuda money is so remarkable. There are scenes covering the island's history and sights -- Somerset Bridge, Flatts, the Cahow, Ely's Inlet.

"You could talk about those notes for 25 minutes -- or at least I can.'' "I have about 110 out of the possible 150 but (former MP) Dr. David Saul is a bigger collector. He's almost got the complete collection. He's got two of everything because he's got two children.'' However, the love for collecting currency rarely runs in the family rues Dr.

Aspen.

The retired orthopedic surgeon explains: "Most children rarely pick up the hobby -- they would rather sell the collection and have the money.'' However, if you can bare to hang on the ultimate rewards can be even greater.

"It's a hobby but it's also an investment.

"If you are collecting something for 25 years and you put it in an auction it's unbelievable how it increases in value.

"A collection which costs $100,000 can go for $3,000,000 at an auction.

"Of course the auctioneers take 15 percent.'' But the 75-year-old, who served as a navy doctor in World War 11, Korea and IndoChina, said his lifelong hobby has not led to great riches.

"`I think I have probably lost money overall.'' Bermuda, on the other hand, has been a big gainer from Dr. Aspen's passion -- he visited every month between 1980 and 1985 to help set up a museum in Burnaby House with the Bermuda Monetary Authority.

Since then interest in the Island's cash has mushroomed with 2,500 collectors around the world.

The West Chester, Pennsylvania resident says: "It's so much more interesting than American money -- that's the ugliest in the whole world.'' Write stuff: Author Dr. Nelson Page Aspen with the updated version of his A History of Bermuda and its Paper Money, which was published this week.