Numismatics

Numismatics

Numismatics is the study & collection of coins & coin-like objects that people used as currency all over the world.

The term broadly refers to the study of the money & other payment methods that were used to make payments.

The English term Numismatics was first used in 1829, derived from the objective “numismatic”.

• Numismatics refers to the research of production and the way people have used coins, tokens, currencies, and other objects throughout history.
• It involves the study of the physical attributes of coins and other payment methods, such as metallurgy, appearance, year of manufacture, and place of production.
• Numismatics is sometimes referred to as the “hobby of kings” since it was associated with kings, emperors, and other ancient rulers.
• Numismatics is the discipline of studying those coins and currencies to understand their physical attributes and history, culture, and economy of that era.

History of Numismatics: The collection of coins can be traced back to the early rulers like Caesar Augustus. Petrarch is credited as the first Renaissance collector, with evidence from letters that he authored, detailing how he was approached by vine diggers who asked him to buy their coins and identify rulers on the coins they carried.

“De Asse,” was the first text to be published on the history of the coin. It was published in 1514 by Guillaume Bude. Some of the documented early coin collectors were prominent people in the society who included emperors, nobility, and kings.

Some of the notable coin collectors included Pope Benedict VIII, King Henry IV of France, and Emperor Maximilian of the Holy Roman Empire. It explains why the practice of coin collection was called the “Hobby of kings.”

In the 19^th century, coin collectors started organizing themselves in professional societies, which also published journals to document coins found within their territories. The American Numismatic Society keeps a collection of over 800,000 coins, medals, and currencies, dating back to 650 BCE, and a library with over 100,000 books. Other professional societies established across the world including

• The American Numismatic Society
• The Royal Numismatics society
• The Canadian Numismatic Association
• The Israel Numismatic Society
• The Royal Numismatic Society of New Zealand
• The Numismatic Association of Australia
• The Czech Numismatic Society
• The Numismatic Society of India

Modern Numismatics: Modern numismatics involves the research of the production and usage of money, medals, and currencies from the 17^th century onward to determine the relative rarity of the coins they study. Researchers are also interested in the varieties, mintage figures, mint-made errors, and social, political, and economic content of coin minting.

The modern study of coins has been made convenient by the presence of the internet and modern communication methods that make it easier to research the history of coins and share knowledge with other researchers. Coin enthusiasts and researchers have established local coin clubs and societies to share ideas and history from across the world. The internet has also made research materials on coin history freely searchable by numismatists.

The following are the sections of modern numismatics

Exonumia: Exonumia is the study of coins, tokens, medals, and other coin-like objects. The objects may include elongated coins, souvenir medals, and wooden nickels. A large category of Exonumia focuses on commemorative military awards and classifies the awards and medals by the military excursion or event they commemorate.

Notaphily: Notaphily is the study of paper money that is used as a currency. Numismatists have been collecting paper money since its introduction as a form of currency by governments around the world. In the 1970s, established nations such as the United States, France, and Germany established notaphily as a branch of numismatics to record catalogs of paper money in the countries.

Scripophily: Scripophily refers to the study and collection of securities, such as stock certificates and bonds. Numismatists collect stocks and bonds due to their interesting historical contexts and their inherent beauty. Old bonds and stock certificates may include beautiful engravings that coin collectors store as pieces of art.

Numismatics In India: The Numismatics Society of India was founded in the year 1910 in Allahabad. In 1957, it was shifted to Varanasi in the college of Indology, now known as the Department of Ancient Indian History & Archeology-Banaras Hindu university.

Indian Institute for Research in Numismatics Studies:  Indian Institute of Research in Numismatic Studies is located near the town of Nasik in Maharashtra state India. Known locally as the Coin Museum or Money Museum, it is primarily a research Centre with one wing dedicated to a public gallery.

Nasik-Trimbak Road, Near Anjaneri Village, Maharashtra-422 213

Indian Institute of Research in Numismatic Studies, Nasik offers various Graduate & Post Graduate courses. This is affiliated with Pune University.

Oldest coins in India: Kosala and  Magadha coins can be the oldest ones from the Indian Subcontinent dating back to the 7th century BC and kosambi findings indicate coin circulation towards the end of the 7th century BC.

Vima Kadphises was a Kushan emperor from approximately 90–100 CE. He was the Kushan emperor to first introduce gold coinage.

Conclusion: In every Indian home you may find rare old coins. Know their origin & value. collecting ancient coins can be a good investment if their melt value is significant. Also, due to their rarity and history, they can sometimes exchange for more than their nominal face value. All this lets investors expect a better return from such coins.

Anil Tadmari