In my experience, coins are special since most people collect them due to the desire to own bits of history. There is a collective fascination in owning these portable items. Coins are miniature works of art, they show how we’ve evolved, and have a beauty all of their own.
Collectors love looking at these shiny metal objects and also filling their albums with them because they give a sense of pride. The pieces are not only mediums of exchange, but they are also fascinating proofs of our ingenuity as a species.
Beauty is in the numbers
The world’s first coins, according to historians, were minted in ancient Lydia, or what is now known as western Turkey, around 700BC. They closely resembled our own currencies, but at first, the pieces weren’t super embraced, as people still used cattle and other goods to trade.
Speaking of numbers, according to the Royal Mint of The United Kingdom, in 2014, there were more than 29 billion coins in circulation in Britain. This number is surprising especially since coins like the penny are worth less than what it costs to manufacture them.
In the year if 2017, the United States produced over 8 billion circulating coins, which is insane since most people can’t stand them. These new pennies, dimes, nickels, quarters, and dollar coins are all manufactured at the Philadelphia and Denver Mints, all highly guarded facilities.
They are popular among collectors
The most thriving coin collecting scheme by any Mint in the civilized world was the 50 State Quarters affair in the USA. It was created to support a new generation of enthusiast coin collectors, and it instantly became the most successful and appreciated numismatic program in history.
Roughly half the population of the country is estimated to have collected at least one-quarter of the series. Needless to say, they are now highly sought-after and very pricey – that is you can get your hands on them, as collectors don’t put them up for sale very often.
The world’s most expensive coin
It was a rare flowing hair silver dollar, a piece that experts assumed to be the first one to be struck by the United States Mint. Recently, it was sold for over $10 million, a sum which includes commission.
Another rare coin, the British 1933 penny, was sold for an outrageous sum. There was no actual demand to strike pennies in early 1933, and as a consequence, you can barely find any on the market. If you find one by mistake, you can consider you’ve stricken gold even if they are made of cheap metals.
The Royal Mint Museum and as well The British Museum were given some of these rare coins to keep. It is thought that no more than six or eight were struck in total, a thing that explains why they are so rare and expensive. All of these things added up explain why coins are special and treasured by collectors.