Numismatics is the collection of currency, including coins, paper money, tokens and other related objects. The discipline itself also includes the study of money, and in retrospect, it is almost like an art form which began with the creation of money. Many objects have been accepted as coins in the early ages, such as shells, metals, cocoa beans and even large stones.
A numismatist is described as a person who studies coins or collects coins. It can be an expensive endeavor, as some coins are known to be sold at exorbitant sums, which exceed the one million dollar threshold.
Are numismatists and collectors the same?
The short answer is that they can be the same, but in some highly specialized instances, they may not be. Some individuals simply collect coins, with no expertise at all. They are just average Joes with a passion for money, which explains why this art is so popular. There are other experts who not only collect money but study it too.
The two definitions can be used interchangeably, as most people do, although in some instances they have to be used separately, as numismatists care more about the chronology of things and about accuracy than they do about excitement.
Why is this hobby so attractive?
Simply put? Because it is stimulating and educative. There are plenty of benefits to numismatics and coin collecting, and they play an essential role in advancing the accumulated knowledge of coins and currency in our societies.
Believe it or not, professionally collecting coins can be something very fruitful if you follow the right steps. Many coins gain value over time, so even if you invest quite a large sum in them, you’ll most likely double the money you make in a few years.
There’s also a lot learned from collecting these small pieces of history. Studying the coins you buy and their past can lead to fascinating discoveries and to you learning about history and politics. They are especially well suited for history buffs.
Other people invest in them because they have a taste for rare objects. Some coins can only be found in amounts that don’t exceed the number ten, although those belong in museums and not in private collections. Getting your hands on them can also be challenging, which is another factor that adds to the appeal of coins.
The bottom line is that coin collectors have been around us since before the Roman Empire, and they are not a dying breed. On the contrary, they are becoming wealthy individuals, especially those who own collections passed down through the generations, as those have an immense potential if they are complete and if they contain rare coins.