Coin collection
The art of collecting or studying various coins is known as numismatics and the person is known as a numismatist. Numismatic was derived from a Latin term called ‘numisma’ which means “money.”
The hobby of coin collecting dates back to 2000 years to the times of ancient Greeks and Romans.
Importance of coin collection:
Coin collection can be turned into a good investment. The retail value of a coin drops seldom below its face value. Most importantly, cons whether domestic or foreign, new or old will have the same value as the metal. In fact the value of many coins increases while their supply remains unchanged. Coins also have historical importance. The inscription on the coin is quite a storehouse of information about the time when the coins were published. Coins bear the names and images of famous historical figures and buildings that have long disappeared. The date on a coin is very important as it helps to identify the time of mint age. For mostcoins the date represents the actual time of striking. All 1909 Indian cents were struck in 1909, and all 1951-S Franklin half dollars were struck in 1951. However, 19,570 silver dollars were coined in Philadelphia in the year 1804 these are believed to have been struck from dies dated 1803 and earlier.
Ways of collecting coins:
One of the easiest ways to collect coins is by collecting those which are in circulation. You can take help of books written on coin collection to start your hobby and take useful tips. Collectors grade coins according to the following standards:
Proof: Coins struck with polished dye on polished blanks
Uncirculated: Coins which do not show any sings of damage
Extremely fine: Coins with no clear cut signs of wear and tear
Very Fine: Coins showing very little sings of wear but with sharp, clear details
Good: Coins which are relatively worn out but the details still visible
Fair: Badly damaged coins
Poor: Extremely badly worn but with distinguishable design
Happy collecting and once you have a good collection, you have have your coins on display!