Coins of interest to collectors often include those that circulated for only a brief time, coins with mint errors and especially beautiful or historically significant pieces. Coin collecting can be differentiated from numismatics, in that the latter is the systematic study of currency.
A coin's grade is a main determinant of its value. For a tiered fee, a third party certification service like PCGS or NGC will grade, authenticate, attribute, and encapsulate most U.S. and foreign coins. Over 80 million coins have been certified by the four largest services.
People have hoarded coins for their bullion value for as long as coins have been minted. However, the collection of coins for their artistic value was a later development. Evidence from the archaeological and historical record of Ancient Rome and medieval Mesopotamia indicates that coins were collected and catalogued by scholars and state treasuries. It also seems probable that individual citizens collected old, exotic or commemorative coins as an affordable, portable form of art. According to Suetonius in his De vita Caesarum (The Lives of the Twelve Caesars), written in the first century CE, the emperor Augustus sometimes presented old and exotic coins to friends and courtiers during festivals and other special occasions.
Contemporary coin collecting and appreciation began around the fourteenth century. During the Renaissance, it became a fad among some members of the privileged classes, especially kings and queens. The Italian scholar and poet Petrarch is credited with being the pursuit's first and most famous aficionado. Following his lead, many European kings, princes, and other nobility kept collections of ancient coins. Some notable collectors were Pope Boniface VIII, Emperor Maximilian I of the Holy Roman Empire, Louis XIV of France, Ferdinand I, Henry IV of France and Elector Joachim II of Brandenburg, who started the Berlin Coin Cabinet (German: Münzkabinett Berlin). Perhaps because only the very wealthy could afford the pursuit, in Renaissance times coin collecting became known as the "Hobby of Kings."
During the 17th and 18th centuries coin collecting remained a pursuit of the well-to-do. But rational, Enlightenment thinking led to a more systematic approach to accumulation and study. Numismatics as an academic discipline emerged in these centuries at the same time as coin collecting became a leisure pursuit of a growing middle class, eager to prove their wealth and sophistication. During the 19th and 20th centuries, coin collecting increased further in popularity. The market for coins expanded to include not only antique coins, but foreign or otherwise exotic currency. Coin shows, trade associations, and regulatory bodies emerged during these decades. The first international convention for coin collectors was held 15–18 August 1962, in Detroit, Michigan, and was sponsored by the American Numismatic Association and the Royal Canadian Numismatic Association. Attendance was estimated at 40,000. As one of the oldest and most popular world pastimes, coin collecting is now often referred to as the "King of Hobbies".
The motivations for collecting vary from one person to another. Possibly the most common type of collectors are the hobbyists, who amass a collection purely for the pleasure of it with no real expectation of profit.
Another frequent reason for purchasing coins is as an investment. As with stamps, precious metals or other commodities, coin prices are periodical based on supply and demand. Prices drop for coins that are not in long-term demand, and increase along with a coin's perceived or intrinsic value. Investors buy with the expectation that the value of their purchase will increase over the long term. As with all types of investment, the principle of caveat emptor applies and study is recommended before buying. Likewise, as with most collectibles, a coin collection does not produce income until it is sold, and may even incur costs (for example, the cost of safe deposit box storage) in the interim.
Coin hoarders may be similar to investors in the sense that they accumulate coins for potential long-term profit. However, unlike investors, they typically do not take into account aesthetic considerations; rather they gather whatever quantity of coins they can and hold them. This is most common with coins whose metal value exceeds their spending value.
Speculators, be they amateurs or commercial buyers, generally purchase coins in bulk and often act with the expectation of short-term profit. They may wish to take advantage of a spike in demand for a particular coin (for example, during the annual release of Canadian numismatic collectibles from the Royal Canadian Mint). The speculator might hope to buy the coin in large lots and sell at profit within weeks or months. Speculators may also buy common circulation coins for their intrinsic metal value. Coins without collectible value may be melted down or distributed as bullion for commercial purposes. Typically they purchase coins that are composed of rare or precious metals, or coins that have a high purity of a specific metal.
A final type of collector is the inheritor, an accidental collector who acquires coins from another person as part of an inheritance. The inheritor type may not necessarily have an interest in or know anything about numismatics at the time of the acquisition.
Casual coin collectors often begin the hobby by saving notable coins found by chance. These coins may be pocket change left from an international trip or an old coin found in circulation.
Usually, if the enthusiasm of the novice increases over time, random coins found in circulation are not enough to satisfy their interest. The hobbyist may then trade coins in a coin club or buy coins from dealers or mints. Their collection then takes on a more specific focus.
Some enthusiasts become generalists and accumulate a few examples from a broad variety of historical or geographically significant coins. Given enough resources, this can result in a vast collection. King Farouk of Egypt was a generalist with a collection famous for its scope and variety.
Most collectors decide to focus their financial resources on a narrower, specialist interest. Some collectors focus on coins of a certain nation or historic period. Some collect coins by themes (or 'subjects') that are featured on the artwork displayed on the coin. Others will seek error coins. Still others might focus on exonumia such as medals, tokens or challenge coins. Some collectors are completists and seek an example of every type of coin within a certain category. Perhaps the most famous of these is Louis Eliasberg, the only collector thus far to assemble a complete set of known coins of the United States.
Coin collecting can become a competitive activity, as prompted by the recent emergence of PCGS (Professional Coin Grading Service) and NGC (Numismatic Guarantee Corporation) Registry Sets. Registry Sets are private collections of coins verified for ownership and quality by numismatic grading services. The grading services assess collections, seal the coins in clear plastic holders, then register and publish the results. This can lead to very high prices as dedicated collectors compete for the very best specimens of, for example, each date and mint mark combination.
A few common themes are often combined into a collection goal:
Collecting counterfeits and forgeries is a controversial area because of the possibility that counterfeits might someday reenter the coin market as authentic coins, but US statutory and case law do not explicitly prohibit possession of counterfeit coins.
In coin collecting, the condition of a coin (its grade) is paramount to its value; a high-quality example is often worth many times more than a poor example. Collectors have created systems to describe the overall condition of coins.
In the early days of coin collecting—before the development of a large international coin market—extremely precise grades were not needed. Coins were described using only three adjectives: "good," "fine" or "uncirculated". By the mid 20th century, with the growing market for rare coins, the American Numismatic Association helps identify most coins in North America. It uses a 1–70 numbering scale, where 70 represents a perfect specimen and 1 represents a barely identifiable coin. Descriptions and numeric grades for coins (from highest to lowest) is as follows:
In addition to the rating of coins by their wear, Proof coinage occurs as a separate category. These are specimens struck from polished dies and are often packaged and sold by mints. This is frequently done for Commemorative coins, though annual proof sets of circulating coinage may be issued as well. Unless mishandled, they will stay in Mint State. Collectors often desire both the proof and regular ("business strike") issues of a coin, though the difference in price between the two may be significant. Additionally, proof coins follow the same 1-70 grading scale as business strike coins, though they use the PR or PF prefix.
Coin experts in Europe and elsewhere often shun the numerical system, preferring to rate specimens on a purely descriptive, or adjectival, scale. Nevertheless, most grading systems use similar terminology and values and remain mutually intelligible.
When evaluating a coin, the following—often subjective—factors may be considered:
Damage of any sort (e.g., holes, edge dents, repairs, cleaning, re-engraving or gouges) can substantially reduce the value of a coin. Specimens are occasionally cleaned or polished in an attempt to pass them off as higher grades or as uncirculated strikes. Because of the substantially lower prices for cleaned or damaged coins, some enthusiasts specialize in their collection.
Third-party grading (TPG), aka coin certification services, emerged in the 1980s with the goals of standardizing grading, exposing alterations, and eliminating counterfeits. For tiered fees, certification services grade, authenticate, attribute, and encapsulate coins in clear, plastic holders. There are four coin certification services which eBay, the largest coin marketplace, deems acceptable to include in its listings: Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), Independent Coin Graders (ICG), and ANACS. Experts consider these to be the most credible and popular services. Together they have certified over 80 million coins.
In 2007, the rare coin industry's leading dealer association, the Professional Numismatists Guild (PNG), released the results of a survey of major coin dealers who gave their professional opinions about 11 certification services. PCGS and NGC were rated "Superior" overall, with ANACS and ICG deemed "Good". PCI and SEGS were listed as "Poor", while called "Unacceptable" were Accugrade (ACG), Numistrust Corporation (NTC), Hallmark Coin Grading Service (HCGS), American Coin Club Grading Service (ACCGS), and Star Grading Services (SGS).
Certified Acceptance Corporation (CAC) is a Far Hills, New Jersey coin certification company started in 2007 by coin dealer John Albanese. The firm evaluates most numismatically valuable U.S. coins already certified by NGC or PCGS. Coins which CAC deems high-end for their grades receive green stickers. Coins which are at least high end for the next grade up are bestowed gold stickers. CAC-certified coins usually trade for a premium. CAC buys and sells CAC-certified coins via their affiliated trading network, Coinplex.
Coin certification has greatly reduced the number of counterfeits and grossly overgraded coins, and improved buyer confidence. Certification services can sometimes be controversial because grading is subjective; coins may be graded differently by different services or even upon resubmission to the same service. The numeric grade alone does not represent all of a coin's characteristics, such as toning, strike, brightness, color, luster, and attractiveness. Due to potentially large differences in value over slight differences in a coin's condition, some submitters will repeatedly resubmit a coin to a grading service in the hope of receiving a higher grade. Because fees are charged for certification, submitters must funnel money away from purchasing additional coins.
Coin collector clubs offer variety of benefits to members. They usually serve as a source of information and unification of people interested in coins. Collector clubs are popular both offline and online. Online clubs usually include catalogs for providing information together with the illustration of a coin. They also include forums that help collectors engage in discussions and arranging trades between each other.
"All About Lisa" is the twentieth episode and season finale of The Simpsons' nineteenth season. It originally aired on the Fox network in the United States on May 18, 2008. Lisa Simpson becomes Krusty the Clown's newest assistant and steals his spotlight. She wins Entertainer of the Year at the Springfield Media awards, but is warned that with her sudden fame comes a new attitude towards others and herself. Meanwhile, Homer and Bart bond over their newfound love of coin collecting. The episode features narration by Sideshow Mel. It was written by John Frink and directed by Steven Dean Moore. Drew Carey guest voices as himself, appearing as a guest on Krusty's show.Brockage
In coin collecting, brockage refers to a type of error coin in which one side of the coin has the normal design and the other side has a mirror image of the same design impressed upon it.Burdette Johnson
Burdette Garner Johnson (January 2, 1885 – February 24, 1947) was an American numismatist. A long-time Missouri resident, Johnson was a coin dealer and numismatist based in St. Louis. Johnson was known best for his mentorship of future American numismatists and helped foster the coin collecting interests in the now-renowned numismatist Eric P. Newman.Coin board
There are two kinds of coin boards.Coin grading
Coin grading is the process of determining the grade or condition of a coin, one of the key factors in determining its value. A coin's grade is generally determined by five criteria: strike, preservation, luster, color, and attractiveness. Several grading systems have been developed. Certification services professionally grade coins for tiered fees.Dear John (novel)
Dear John is a romance novel by American writer Nicholas Sparks released in 2006. Its plot is an adaptation to present day's American culture of three plays Marius, Fanny and César, called la Trilogie Marseillaise written by French author Marcel Pagnol c. 1930. Sparks took inspiration from the real-life story of his cousin Todd Vance who served in the U.S. Armed Forces. It was on The New York Times Best Seller list in 2007.The story is about a romantic couple who fall in love over one summer. They are separated during the man's military service. John Tyree, the main character, has a father with Asperger's syndrome. The story is partially set in Wilmington, North Carolina where John's father was a single parent who had difficulty having meaningful conversation with his son and has an obsession with coin collecting. John knows there is something wrong with him but he has never been to a doctor to find out what it is. Feeling a lack of direction and no good fatherly influence in his life, John enlisted in the U.S. Armed Forces.John returns home on leave from the army when he gets news of his father's death. After the return he seeks out Savannah, where he is surprised to learn of her life events following her marriage to another man. It was obvious to John, Savannah, and even her new husband, that Savannah still had love for John. But he decided to let Savannah go- because he cared about her more than himself.
Although drained by battle overseas and the loss of Savannah, he realizes that due to a legacy from his father, he's able to express his love in an unexpected way.Die defect
A die defect is a unique and unintentional flaw in a coin die and is created through excessive use or polishing of the die. A die bearing such a defect is occasionally referred to as a defective die. Generally, and depending upon the magnitude of the defect, coins that are produced from these dies are considered error coins. Also, the term encompasses a wide variety of design errors that were engraved into the die originally and were slipped into circulation before the incorrect design was discovered.George Robert Ainslie
George Robert Ainslie (1776–1839) was a Scottish general of the British Army, noted for his coin collecting pursuits.Glossary of numismatics
This article is a collection of Numismatic and coin collecting terms with concise explanation for the beginner or professional.
Numismatics (ancient Greek: νομισματική) is the scientific study of money and its history in all its varied forms. While numismatists are often characterized as studying coins, the discipline also includes the study of banknotes, stock certificates, medals, medallions, and tokens (also referred to as Exonumia).
Sub-fields or related fields of numismatics are:
Exonumia: is the study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration.
Notaphily: is the study of paper money or banknotes.
Scripophily: is the study and collection of stocks and bonds.History of coins
The history of coins extends from ancient times to the present, and is related to economic history, the history of minting technologies, the history shown by the images on coins, and the history of coin collecting. Coins are still widely used for monetary and other purposes.Louis E. Eliasberg
Louis E. Eliasberg, Sr. (1896–1976) was an American financier and numismatist. A native of Baltimore, Maryland, he is best known in the numismatic community for putting together the only complete collection of United States coins ever assembled, with attention to coins in the best possible condition. Although the set was not truly "complete" by modern standards (for instance, it did not differentiate between proofs and circulation strikes, as most modern collectors and set registries do), it is still the most comprehensive U.S. numismatic collection to date.
The Eliasberg collection did not distinguish between proofs and circulating strikes and die variations were not emphasized. There were no exceptions unless one considers the 1849 Double Eagle a coin. This is generally categorized as a pattern coin and only two were made: one is on display at the Smithsonian Institution and the other was given to then Treasury Secretary William M. Meredith but its subsequent whereabouts are unknown. No one had ever accomplished this coin collecting feat before, and probably no one will ever accomplish it again. There were one or two coins unknown at the time of completion of his collection that were later discovered.
Some of the highlights of the Eliasberg collection include a 1913 Liberty Head nickel known as the "Eliasberg Specimen". The coin was later bought by an unnamed California collector for US$5 million on April 25, 2007. Another is the 1873-CC no-arrows Liberty Seated dime. This coin is also notable for being the last coin needed to complete the Eliasberg collection.He possessed at one time a 1933 $20 gold coin (one of three then known to be owned by private collectors, including King Farouk of Egypt). Upon learning that the government believed the coins had not been legally issued by the mint and was recalling them, Mr. Eliasberg voluntarily returned his coin to the government in 1952 without compensation. A trial jury in U.S. District Court determined in July 2011 that ten other 1933 double eagles claimed as property by Mrs. Joan Langbord had been obtained illegally by Israel Switt and were property of the United States government. This decision was subsequently upheld the following August but is being appealed.
A generous and knowledgeable correspondent with the coin-collecting public, which became aware of him after a LIFE magazine feature story, Eliasberg was presented with a special trophy by Numismatic Gallery Magazine in recognition of his unique achievement.He later divided his collection between his two children, who separately sold the collection in three landmark auctions.New Super Mario Bros. 2
New Super Mario Bros. 2 is a 2D side-scrolling platform video game in the New Super Mario Bros. series developed by Nintendo for their Nintendo 3DS handheld video game console. While being the third game in the series, it is a direct sequel to the 2006 Nintendo DS game New Super Mario Bros. and is the first Nintendo-published game to be released simultaneously in both digital and physical forms.
The game's plot is similar to its predecessors, focusing on Mario and Luigi's efforts to rescue Princess Peach from Bowser and the Koopalings. New Super Mario Bros. 2 has a heavier emphasis on coin-collecting than other Super Mario games, with multiple unique items dedicated to producing large numbers of coins. The game features a specialized mode called "Coin Rush" that focuses exclusively on quickly completing a series of stages while collecting as many coins as possible. Additional Coin Rush stages were made available for purchase as downloadable content shortly after the game's release.
New Super Mario Bros. 2 spans 9 worlds consisting of 6 main worlds and 3 special worlds. Those worlds total 85 complete levels, many of which have multiple exits to unlock more areas of the game to play and explore.
New Super Mario Bros. 2 received generally positive reviews; critics generally praised the game's level design, but criticized the game for being too similar to earlier New Super Mario Bros. games. New Super Mario Bros. 2 is the fifth best-selling game for the Nintendo 3DS, selling 13.08 million copies worldwide as of December 31, 2018.Peter Alan Rayner
Peter Alan Rayner (1924 – 29 July 2007) was a British author of numismatic (coin collecting) books. He was known by his second name Alan, rather than his first to avoid confusion with Peter Seaby, also a popular author, whose family firm Rayner joined at the age of 24.
Rayner lived in Harpenden, Hertfordshire where he attended St George's School, Harpenden as a day boarder. During World War II he was conscripted into the mines as a Bevin Boy, although he was eventually released owing to ill health and enlisted in the Intelligence Corps.
In 1948 he joined B.A. Seaby Limited as an assistant in the English Coin Department, and began to specialise in milled silver coins. In 1957 he helped prepare for print a second revised edition of the book called 'English Silver Coinage from 1649', written by Herbert Allen Seaby and first published in 1949. This proved to be one of the most popular books published by B.A. Seaby Limited and further updated editions were printed in 1967, 1974, 1992 and the most recent in 2015 (republished by author Maurice Bull and printed by Spink and son). The book is used by numismatists as a main reference for all English silver coinage from 1649 to the year 1992 with a three-lettered prefixed (ESC - referring to English Silver Coinage) numbering system attributable to each coin and any variant. In 1961 Rayner wrote Your Book of Coin Collecting (published by Faber & Faber London). This presented to the new collector of coins 'a complete guide to Coin Collecting'. In 1966 he also wrote the book Coin Collecting For Amateurs published by Frederick Muller Ltd of Fleet Street.
Rayner remained at Seaby's until 1974, when he left to join the English branch of the coin company Paramount. He immediately became a valued member of staff whose knowledge of silver coins was unrivalled. He also specialised in foreign coins, in particular German.
He is survived by his Swiss wife Madeleine from Schaffhausen, who caused Rayner to learn Schweizerdeutsch (Swiss German), four children and eight grandchildren.Pitcairn Islands dollar
The Pitcairn Islands is a non-sovereign British overseas territory and the New Zealand dollar is used as exchange. Pitcairn Islands began issuing its first commemorative coins in 1988. Though the Pitcairn Islands dollar is not a true currency in the strict sense of the word, and is not used as a circulation coinage, it can be lawfully exchanged as tender. The Pitcairn Islands dollar exists only because of the coin collecting market, which provides a major staple for the island nation. Having a population of only 56 according to the 2013 census, and with only one island in the group of four being populated, there is no need for local coinage. Coins consist of an important part of the Pitcairn Islands' tiny economy and help raise funds for the government's largely fixed and subsidised income.Russell Rulau
Russell Alphonse Rulau (September 21, 1926 – November 12, 2012) was an American numismatist. He was involved in coin collecting for over 60 years. From his earliest days as a casual collector, Rulau contributed to numismatics as a writer, editor and club organizer. His interest in world coins led him to create the "Coin of the Year" award. The award is presented annually by Krause Publications' World Coin News. Rulau coined the term "exonumia" in 1960.Tigranes IV
Tigranes IV (30s BC–1) was a Prince of the Kingdom of Armenia and member of the Artaxiad Dynasty who served as a Roman Client King of Armenia from 8 BC until 5 BC and 2 BC until 1 AD.Tripolis on the Meander
Tripolis on the Meander (Greek: Τρίπολις, Eth. Greek: Τριπολίτης, Latin: Tripolis ad Maeandrum) – also Neapolis (Greek: Νεάπολις), Apollonia (Greek: Απολλωνία), and Antoniopolis – was an ancient city on the borders of Phrygia, Caria and Lydia, on the northern bank of the upper course of the Maeander, and on the road leading from Sardes by Philadelphia to Laodicea ad Lycum. (It. Ant. p. 336; Tab. Peut.) It was situated 20 km to the northwest of Hierapolis.
Ruins of it still exist near Yenicekent (formerly Yeniji or Kash Yeniji), a township in the Buldan district of Denizli Province, Turkey. (Arundell, Seven Churches, p. 245; Hamilton, Researches, i. p. 525; Fellows, Asia Minor, p. 287.) The ruins mostly date from the Roman and Byzantine periods and include a theater, baths, city walls, and a necropolis. An ancient church, dating back 1,500 years, has been unearthed in 2013.Wayne G. Sayles
Wayne G. Sayles (born March 8, 1943) is an American numismatist and author, who specializes in Ancient Numismatics, especially coins of Cilicia which is located in modern-day Turkey. He is an accomplished Numismatic and Military author having published or contributed to hundreds of books, articles and papers.