At Indigo Precious Metals, we deal in everything from gold and silver to platinum and palladium. But, we also handle precious coins. Some of the oldest coins in existence are incredibly valuable, worth thousands of dollars. But why are coins so special? Today we look at the popular, though often misrepresented, pursuit that is numismatics, or coin collecting. Here we ask, how has it evolved, and why is it worthwhile?
Coin collecting has been around for thousands of years and is one of the oldest hobbies in human history. Coins are unique artifacts that reflect the time in which we produced them. They haven’t always been around, however, as early peoples traded precious metals, herbs, crops, livestock and so on. Currency, particularly coins, is unique because it is synonymous with civilization. Early American colonists had no need of currency out in the wild, bartering with Native Americans instead. But as civilization continued to expand, the necessity for minted currency soon became clear.
Read on to learn more about the history of numismatics and why it is important. If you want to learn more about Indigo Precious Metals, visit our website https://www.indigopreciousmetals.com/.
The History of Numismatics
When you think of coin collecting, Roman coins might first spring to mind. In the UK, you can find them in fields and riverbeds, some thousands of years old. The Roman period was a particularly important time as it gave rise to the earliest practice of numismatics. Many of the coins in circulation around the time of Emperor Augustus were based on earlier designs. This tells us that they actively stored and preserved coins as tokens of their era, to complement the records concerning the period. Similarly, coins from the Byzantine era also featured lavish visual designs based on coins minted in previous centuries.
Throughout the centuries, great historical figures have dabbled in numismatics. Throughout the great poet Petrarch’s travels, he was a prominent numismatist, said to collect coins from the places he visited while traveling. This is a popular trend that continues even today. Moreover, US presidents John Quincy Adams and Thomas Jefferson were also enthusiastic coin collectors. The US Mint was first established in 1762 and Adams used his numismatics expertise to guide its early development of currency. For centuries, numismatics has been a pursuit of aristocracy from countries all over the world. But it was the Victorians who developed a thriving industry based on the hobby, which continues today. Internet-based coin dealing is a highly lucrative industry, with gold and silver coins often prized in times of economic unrest.
Why Collect Coins?
What is the allure of coin collecting? Why is it important? Coins allow you to learn a great deal about your own country and others. A coin’s value (most of which comes from its metal content) and mint design are not simple decisions made on a whim. The country’s political climate, economic health, and social condition all impact how and why we make coins. Practicing numismatics is about much more than investment in a coin’s bullion value. It provides you the opportunity to preserve a piece of history and learn how it came to be.