Baby Boomer Pocket Change

Numismatics or How To Begin Coin Collecting

 

 I will be posting several articles dealing with the basics of coin collection. This one really points out how easy it is to start with pocket change.

 

Numismatics or How to Begin Coin Collecting by Rodrigo Pocius

Coin collecting is an interesting hobby with a long history. Julius Caesar was a coin collector. Known as numismatics, coin collecting is a challenging hobby which can be rewarding financially and educationally. Many people enjoy coin collecting for reason such as these.

To begin coin collecting, one should become versed in the standard condition and value of coins. In the industry, there are about seven different grading scales. Standard conditions for coins vary from ‘proof’ to ‘about good’. Some people begin coin collecting with the popular coin series minted by the U.S. Mint. One such series, the ‘State Quarters’ series has been extremely popular.

Begun in 1999, the State quarters were minted about every ten weeks and completed in 2008, after minting one quarter design per State. Each quarter featured a unique design submitted by each State. Each separate design featured icons and symbols related to the particular State, were released in order of the State’s endorsement of the U.S. Constitution, and proved to be popular with the general public and educational for kids and adults alike.

Currently there is a new program known as the ‘Presidential Dollar Program’ which features depictions of each of our previous Presidents. Beginning in 2007 with Washington, Adams, Jefferson and Madison, these coins will be minted at 4 per year in the order that the Presidents served.

Other sources of coins for Coin collected are available online. Coins are bought and sold 24hours a day, and you can find just about any type of coin, from ancient to modern, You can also get coin packages in bulk with unchecked coins. This can be tricky, as a good eye and developed knowledge of the craft are required to pick out gems among the hundreds of mediocre coins, but the reward can be worth the effort.

To develop your knowledge, books and software are also available. Software can help with researching value for coins.

Coin valuation can be a bit tricky as many factors are taken into consideration when placing a value on a coin. The novice should take caution at coins that look especially clean, as cleaning tends to lower the value of a coin, and could be a coin that has been in circulation. If you wish to clean one of your own coins, it is recommended that you find a professional cleaner as extreme care needs to be taken. Coin value can also depend other factors such as metal content, rarity and historical considerations. Store your coins in clear plastic bags and avoid touching them directly as acids in your skin can damage the metal over a long term and lower the value.

Starting a coin collecting hobby is very easy, just reach in your pocket and save the coins you pull out, examine them an begin looking for the history of each coin online. Develop your skills an seek out more information, guides and software, and build on what your learn. Perhaps you want to begin with a full series of quarters that can be accomplished from online sources as well. Whatever you choose to collect, be it ancient or foreign coins, the information super highway can get you to your treasure.

Coin collecting is a great hobby for the individual and for the family. It offers a way to connect with history by holding and viewing a physical piece of history. Make sure you keep your coins in a safe place as this hobby can last for many years and offer years of discussion, entertainment and education.

You can find more information and products on collecting money at CashHobbyShop Website
Article Source: Articles for Boomers

Tags: coin collecting basics, coins

History Of Numismatics-Was Petrarch The First Coin Collector?

I am learning so much. I am still reading the information in Wikepedia. I just wish I had the coin illustrated below. Wow!

Coin Collecting may have existed in ancient times. Caesar Augustus gave “coins of every device, including old pieces of the kings and foreign money” as Saturnalia gifts.^[2]

Petrarch, who wrote in a letter that he was often approached by vinediggers with old coins asking him to buy or to identify the ruler, is credited as the first Renaissance collector. Petrarch presented a collection of Roman coins to Emperor Charles IV in 1355.

The first book on coins was De Asse et Partibus (1514) by Guillaume Budé.^[3]. During the early Renaissance ancient coins were collected by European royalty and nobility. Collectors of coins were Pope Boniface VIII, Emperor Maximilian of the Holy Roman Empire, Louis XIV of France, Ferdinand I, Elector Joachim II of Brandenburg who started the Berlin coin cabinet and Henry IV of France to name a few. Numismatics is called the “Hobby of Kings”, due to its most esteemed founders.

Professional societies organized in the 19th century. The Royal Numismatic Society was founded in 1836 and immediately begin publishing the journal that became the Numismatic Chronicle. The American Numismatic Society was founded in 1858 and began publishing the American Journal of Numismatics in 1866.

In 1931 the British Academy launched the Sylloge Nummorum Graecorum publishing collections of Ancient Greek coinage. The first volume of Sylloge of Coins of the British Isles was published in 1958.

In the 20th century as well the coins were seen more as archaeological objects. After World War II in Germany a project, Fundmünzen der Antike (Coin finds of the Classical Period) was launched, to register every coin found within Germany. This idea found successors in many countries.

In the United States, the US mint established a coin Cabinet in 1838 when chief coiner Adam Eckfeldt donated his personal collection.^[4] William E. Du Bois’ Pledges of History… (1846) describes the cabinet.

C. Wyllys Betts’ American colonial history illustrated by contemporary medals (1894) set the groundwork for the study of American historical medals.

Tags: history of coin collecting

What is Numismatics?

If you talk coin collecting I am finding that you must know this term called “Numismatics”. Now, I trotted over to Wikepedia and decided to share with you what they said. In the next post I will share some history.

Numismatics (Latin: numisma, nomisma, “coin”; from the Greek: νομίζειν nomízein, “to use according to law”) is the study or collection of currency, including coins, tokens, paper money, and related objects. While numismatists are often characterized as students or collectors of coins, the discipline also includes a much larger study of payment media used to resolve debts and the exchange of goods. Lacking a structured monetary system, people in the past as well as some today lived in a barter society and used locally-found items of inherent or implied value. Early money used by people is referred to as “Odd and Curious”, but the use of other goods in barter exchange is excluded, even where used as a circulating currency (e.g., cigarettes in prison). The Kyrgyz people used horses as the principal currency unit and gave small change in lambskins.^[1] The lambskins may be suitable for numismatic study, but the horse is not. Many objects have been used for centuries, such as conch shells, precious metals and gems.

Today, most transactions take place by a form of payment with either inherent, standardized or credit value. Numismatic value may be used to refer to the value in excess of the monetary value conferred by law. This is also known as the “collector’s value” or “intrinsic value.”

Economic and historical studies of money’s use and development are separate to the numismatists’ study of money’s physical embodiment (although the fields are related; economic theories of money’s origin depend upon numismatics, for example).

Tags: coin collecting