Coin collectors are called numismatists. Well, some of them are. In common usage, numismatists and coin collectors are often used interchangeably.
The study and collection of coins, currency, tokens, and related items is numismatics, which includes the cultural significance, artistry, and history of currency. The numismatic field of study also encompasses production technologies, physical properties of currency, and the historical context of currency.
The study and collection of coins, currency, tokens, and related items is numismatics, which includes the cultural significance, artistry, and history of currency. The numismatic field of study also encompasses production technologies, physical properties of currency, and the historical context of currency.
Throughout human history, currency has been a limited resource, with various materials serving as mediums of exchange. Among the earliest currency forms were cowry shells, metals, cocoa beans, stones, or gems. Understanding the use and value of older currencies help us to understand their context and relevance, which provides a unique glance into history itself.
History of the Word Numismatics
The term numismatics dates to 1829 and stems from the root adjective numismatic, which means “of coins.” That borrows from the French word numismatique, which borrowed numismatis, a variant of nomisma, meaning coin, from Late Latin.
Historic Numismatists
Caesar Augustus, the first Emperor of Rome, is known as the first coin collector. He collected coins from the places he visited and conquered. The coins were given as gifts to other leaders, and Caesar gave from his rare collection to guests amid the Saturnalia festival.
One of the earliest works on numismatics is Guillaume Budé’s 1514 C.E. book, De Asse et Partibus Eius, or On the As and its Parts. (An as, or assarius, was worth one-fifth of a quinarius.) In it, passages from Pliny and others are used to explain Roman monetary terms and theories.
It was a comprehensive study of Roman measures, including coins, although it was a philosophical text advocating studying the humanities alongside Biblical theology instead of a dedicated treatise on numismatics.
Have you ever heard of coin collecting called the Hobby of Kings? Some of the earliest numismatists were royalty in the Renaissance era. In that time, European royalty and nobility began collecting ancient coins.
Heads of state and religious leaders like Pope Boniface VIII, Emperor Maximilian of the Holy Roman Empire, Louis XIV of France, Ferdinand I, and Henry IV of France were early numismatists. They played significant roles in the study and preservation of coins.
The Father of Numismatics, Joseph H. Eckhel
Many regard Joseph Hilarius Eckhel as the father of numismatics for his eight volume work, Doctrina Numorum Veterum (Teaching of Old Coins) which was published between 1792- 1798.
This essential work transformed research about ancient coins and established a science around numismatic study. Eckhel classified coins by region, type, and chronology and his system became the model for later systems.
Joseph Eckhel revolutionized numismatics into a proper science by working to synthesize scattered and confused facts into a united foundation.
Is There a Difference Between Coin Collectors and Numismatists?
Although the terms numismatist and coin collector are used interchangeably, there are some distinctions between the two.
Coin collectors often gather coins as a hobby or an investment vehicle and may not study the coins that they collect.
Numismatists study coins and approach the world of money from an artistic, historic, or social sense. They may regularly spend time pouring over books about coins and currency, studying designs, history, and policy with a focus on specific areas of interest.
Their collections are more likely to focus on historical aspects and the rarity of a coin or piece of currency than casual collectors. Numismatists are more likely to write or publish their thoughts and their findings to help others in the field.
Strictly speaking, numismatics is more broad than the field of coin collecting, as it encompasses the study and history of coins, currency, tokens, and more. While collectors may focus on acquiring coins based on their own goals, numismatists generally dive deeper into the history, context, and significance of currency.
