I asked for help re: info on pre-Euro banknotes to collect
here. A member on another forum posted that it would be wise to look out for short dates issued for French notes, and single vs double letter prefixes on Portuguese & Spanish issues. This rule also applies to banknotes from the Philippines so that single letter prefixes are much scarcer than double letters, such as this 200 Piso:

Any note that undergoes a design change is a must for me. There are many & this
P-157 50 Francs is a great example. A few modifications were applied to
P-157A so the former is more desirable. Many collectors go for first prefixes (especially Great Britain) but I like to find out which were short & sometimes the last prefix is preferable.
Numista has been very helpful in finding info on currency that is less common. I also look for notes that have had security strips added & try to get the earlier version. I have found Bank Note Museum very helpful in narrowing down which notes (tougher variants) I want to acquire.
As a general example:
If you look at Canada's
P-101 you can see that the prefix AOF had a run of 3.8M vs the typical 10M prefix & Numista provides frequency so you will see that only 1.8% of the entries are of this prefix -thus tougher & more collectible compared to
P-101A. However prefix APM (with security strip) is actually less common than the AOF as it was a short prefix (less than 0.5M). It takes time to really get to know what is collectible.
For more expensive collectible banknotes discover how the nation's bank designate replacements (Z prefix for many countries) & these are excellent variants to collect also IMO. I also tend to gravitate towards lower serial numbers & higher grades.