The Art of Numismatics

Numismatics refers to the study of money, banknotes, medallions, stock certificates, and token coins. Each coin or medal signifies a different time, culture, and politics. It started from the time of Julius Caesar, who was believed to have written the very first book about numismatics.

The people who study numismatics are called numismatists. Their study includes the history and appearance of the different currencies. They differ from coin collectors in a way that they can be coin collectors if they want to. Their interest involves that of the use of money, its origin and history, design, variety, and production. Their goal is to explore the different currencies used throughout the years using what is called as mint information. This refers to the place and location of production and manufacturer of the coins. Coin collectors are only involved with the collection of coins, without the study and interest of history.

Coin collection has become quite known over the years. The most popular designs are animals and famous people that signify the time or year when the coin was released. Other designs have been made, too, but they were not as popular as the famous faces and animals.

Numismatists use a coin grading system to determine its market value. The three major third party facilities that authenticate coins and bills are:

1. Professional Coin Grading System (PCGS), Newport Beach, CA

Established in the year 1986, this independent body authenticates coins through their expert and professional opinion for commercial purposes.

2. Numismatic Guaranty Corporation, Sarasota, Florida

This facility offers services which are exclusive to numismatists from the year that it was established in 1987.

3. Paper Money Grading (PMG)

PMG is a small department of PCGS which is exclusive for paper money authentication.

In the past, when collecting coins was not yet popular, three categories of coins were considered:

1. Good

This means that every detail of the coin is still intact.

2. Fine

This includes coins with intact details with a little visible luster.

3. Uncirculated

Coins that have never been sold or placed in the market and those that have intact original appearances fall in this category.

Today, the grading has developed and evolved. Letter and number combinations are used as descriptions to a certain quality of a coin. The USA uses the most comprehensive grading system for beginners, such as the MS-60 to MS-70. These numbers mean that the coin has no blemishes and the original color and strike has been maintained.

The art of knowing how to grade a coin properly requires knowledge, skill, and experience. Coin collectors should also possess the ability to grade a coin to be able to know the coin's value.

The following are some of the components being used by numismatists in coin grading:

1. Luster

This is a factor which determines if a specific coin has already been circulated. Coins with no blemishes possess a higher grade.

2. Preservation of the Surface

A very noticeable abrasion on the back of a coin will give it a lower grade, especially if it is located on the front or focal part of the coin.

3. Strike

This refers to the process of designing. The coin is stamped onto a planchet.

4. Color

Coins with preserved original colors have higher grades.

5. Appeal

Attractive coins may catch the eye of a collector, but professional opinion must still be required.

Coins signify the different eras of history, along with the people in that span of time. As a numismatist, you must have sufficient knowledge on this field. Not only will it help you with your coin collection, it will also let you appreciate the different eras of history and the societies that developed throughout time.