When did the modern world coin era begin?

Most US collectors will tell you modern coins began in 1982 with the reintroduction of commemorative coins. Some will say it began in 1965 with the elimination of 90% silver coins.

What about world coins? I once saw the year 1600 being claimed as the beginning of the modern era for world coins. That was from a European auction catalog loaded with medevil stuff. Others would say it began with Matthew Bolton and steam struck coins. Many would say around 1970 when the first NCLT coins first started to appear.

I base my own demarcation point on the artwork of the coins involved. I would say 1939 was the last year of "great" coinage design, and most everything since then has been kind of lame. To be sure there are some great coin designs since then, but almost everything was great from 1939 and earlier. Afterward it was the exception not the rule.

When does the modern era begin as far as you are concerned?

 

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It really depends on what country you are talking about.

For instance, in Japan there is a clear cut line of demarcation between cast coinage and milled coinage - 1867, the third year of the Meji Restoration, when by Imperial edict stamped coins, produced by machinery imported from England, replaced cast ones, and the denomination "yen" was created.

Across the Sea of Japan it's not that clear. In China milled coinage started appearing in the final days of the Empire, and pretty much became the standard in 1912, the same year the Republic was declared.

Other countries? Other dates.

 

Humans have spent at least 40,000 years living and adapting their enviroment to meet their needs. We've had agriculture for 12,000 years and cities as long. We invented writing over 5,000 years ago and began refining metals about the same time.

Coins have been around a mere 1700 years.

They are all moderns.

 

I'd say coins that belong to the "modern" times we live in are "modern coins". And there are also "ultra moderns". For the U.S. the ultra moderns are basically the era of clad coinage from 1965 to date. The moderns are mostly 20th century coinage to 1965. I think some 20th century coins now can no longer be termed modern due to their being linked to eras that are near bygone -- like the barbers.

In Europe Euros are ultra modern and currency from about 1940 - 1970 start time (depending on which country) to year 2000 miight be considered modern.

 

If we define "modern" as something that does not meet our individual design taste buds, then a discussion makes hardly any sense. Fortunately our coins today do not look like coins of the 19th or 20th century. In European history we could say there is Ancient (before 500), Medieval (500-1500), and Modern (after 1500) - give a century here, take one there.

We could apply that to coins and say that "modern" coinage starts with the Guldiner and Taler coins. But since coins were not really used much in medieval Europe, drawing that line does not seem very helpful to me. In France we could say that modern coinage begins with the end of the Ancien Régime. Another good dividing line for many European countries is roughly 1950. In arts and architecture many use the term "modern" when referring to a phase that ended about 100 years ago, but I have not heard or read about postmodern coinage. So for me modern European coinage covers the time between some point in the middle of the previous century and today. Comes in handy also because I primarily collect from that period ...

Christian

 

First, what does NCLT stand for?
Second, for me when I think of modern it is when world coins started to take on what I would consider a modern look instead of the more classical look. I know that's hard to describe, but before World War II many coins had a classical look, and not long after they started to look much more modern. Another criteria is when countries like Britain changed to decimal coins from their old coin. For me the modern British era starts in 1971. For many countries I'd say it was at the end of WWII. So it depends on country for me.

 

If using the word "modern" to delineate more current coins versus other machine struck coins, (not comparing them versus medieval or ancients), I would say my default position on world coins in post WWII. So many major changes happened because of the war, and it was in this timeframe PM was eliminated worldwide from circulation. Also, the number of coins collect skyrocketed, so BU examples after WWII are much more comman than before WWII.

That is my default position, of course on a country by country basis it could change.

Btw, I have never really heard anyone refer to 1982 as the beginning of modern coins in the US. The start of the new commemorative series, yes, but I have always heard 1965 for the date of US "modern" coinage.

 

I agree with medora, I have never heard of the 1982 cut-off before.

NGC and PCGS both consider 1955 the cut-off for "modern" for grading purposes of US coins. For non-US coins, NGC considers "after 1970" as the cut-off for modern. I'm not saying these dates mean anything, but just adding the information to the discussion.

Other definitions I have heard people use, but not consistently are:

Modern: The date after which all regular circulation coins of a country no longer contain any precious metals. For the US that would be 1965 and after. The key being "regular" circulation coinage. Still this is arbitrary, and 50 years from now it will seem awfully odd to be calling 100-year old coins "modern".

 

Not disagreeing much, like I said per country can vary. I would say, though, that most of those things you mentioned were pretty darn close to 1945, enough for it to be, in general, a decent point to start the discussion.

Also, like I said, there was a sea change in collecting habits before and after the war. I also use that as a justification for my admittedly rough and more importantly self imposed guideline.

 

Many countries would have different dates. British and Irish coins in a "modern" era would begin with decimalization in 1971. In Australia, decimalization occured in 1966, while in New Zealand it happened in 1967.

Our Canadian friends would most likely be in 1968 when the remaining silver content was dropped to all nickel planchets. You could also make the case for 1937 and beyond coinage when the current reverse designs were employed.

A modern series in the USA would be the rise of clad coinage in 1965.

Monetary reforms or political change would be convenient breakpoints in many countries. The creation of the Euro in 1999-2002 is a very important period in the European Union.

In South Africa, it was the elimination of the vestiges of dominion status and the creation of the republic in 1961 as well as decimalization in 1960. In Russia, the break-up of the Soviet Union into its 15 constituent parts would be "modern" breakpoint.

There would be many, many examples.

 

NCLT is non-circulating legal tender. Somewhere along the way someone decided it was OK for a government to make coins that bear a face value but sell that coin for a higher value as a profit making enterprise. One example would be the US commemorative half dollars that were sold at a world's fair. A few of them actually did circulate. I recall setting aside a few Washington/Carver halves when I was a kid in the 50's but they may have been stolen by kids and spent rather than really being intentionally circulated. For years the government issued proofs or other nicer versions of standard coins but, in the day, I did not consider them different and thought it was OK if I wanted a really nice P mint cent to use one out of a proof set. More recently I hear people arguing that the famous Eliasburg collection was not really complete because he did not include a business strike of coins that he had in proof.

To me real NCLT started when coins were made intentionally impossible to circulate and were not released in their home countries. These coins are sold under license from some third world country by commercial mints but released only to collectors in the countries with money to burn as collectibles rather than examples of the money use in that country. I don't consider NCLT to be coins.

Since I don't collect modern coins I don't have an opinion as o new terms to divide modern and more modern. I do agree with the end of medieval-start of modern line being when machines were used to make coins rather than big guys swinging hammers.

 

Nah, most of the coin issues from the war years, especially in Europe, were junk. Struck on aluminum bronze or other junky metal like stainless steel. The only way I could deviate from 1939 to include coins up to 1950 would be the inclusion of the 1950 coins from Somalia. But even those, as terrific as they are, were designed by Giuseppe Romagnoli, a guy whos best work dates from the 1920s and 1930s.

http://numismatica-italiana.lamoneta.it/zecchieri/Giuseppe Romagnoli

Great site btw... enjoy.

 

I personally chose either 1920 or WWII as the start of modern coinage, depending upon the country. Others say 1967 or thereabouts, when most countries ceased issuing silver coinage. For the Asian countries, I choose around 1800 or so .. still some squared cash and small yen around, but getting into firmly milled coinage. For antiques, I use 1892, when all exporting countries had to put a country or origin on their wares if it went to the States. For most "Western" democracies, I use WWII.

 

the restoration of the monarchy in the uk in 1668 saw the total move from hammered coinage to milled coinage, but during the reign of elizabeth I there was on issue of a milled sixpence and shilling. but the mint returned to hammered coinage.

 

To me modern is when hanmmered coins changed to milled coins , I think in the 17th century . But really it kind of depends on what criteria you use and it should be broken down into smaller catagories like using closed collars presses , then theirs an ultra modern when the US eliminated all precius metals . Guess it's how you define modern .

 

when i think of "modern" i think 1965 and newer for us coinage.

cody

 

Thanks for the explanation. So Liberian coins would be a good example of this. Not the old ones, but the George W Bush, space shuttle/Hall of Fame baseball players, etc.

 

Modern Era IMO began in 1960 when you had Macmillan give a speech of winds of change blowing through this continent and started the dismantling of the British empire. That signaled the end of colonialism and we saw a new era of nations enter world stage and start issuing coins'.