Coin Collecting Facts
Coin collecting is a fun hobby and also a great way to learn about history. It gives you a chance to put together a collection that is worth some money or has sentimental value.
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History
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Coins first were minted about 650 B.C. to replace the use of weighed precious metals in the buying and selling of goods. Coins helped reduce the risk that unscrupulous merchants and traders would alter measurements. Coin collecting has found its way into many eras and cultures, including 14th century Italy, where poet and scholar Francesco Petrarca brought attention to the hobby. While some consider him one of the first coin collectors, Roman historian Gaius Suetonius wrote in "De Vita Caesarum" that Emperor Augustus Caesar collected foreign coins and gave them as gifts.
Educational Benefits
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Coin collecting helps you learn about minting technologies, the history of economics and the history of the images on the coins.
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Coin Features
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Coins have been minted from a variety of minerals, including gold, silver, copper and steel. They often bear the likeness of a famous leader, but they can carry the image of just about anything, depending on where they were made.
Identification
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Most modern coins carry a date and include the country in which they are minted. Older coins may be harder to identify without a coin guide. Start by identifying the language of the words on the coin, or any images. Also consider the coin's metal content, weight and color.
Grading
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Dealers and collectors have established a grading system for coins. Uncirculated coins have not been used in circulation; Extremely Fine coins have slight wear; and Very Fine ones show some wear on raised surfaces, with much of the detail still visible. Coins in Fine condition have considerable wear, but the remaining features are sharp. Fair coins are worn, but the inscriptions and features are still distinguishable. Poor ones show excessive wear, with some inscriptions or features completely worn away.
Fun Fact
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The study of coins and paper money is called numismatics.
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References
Resources
- Photo Credit dichoecho, Flickr.com
