What is Numismatics? In simple terms it is the study of money, usually encountered as pieces of metal with effigies or symbols on them, though other objects, less easily identifiable as money have also been used. A good example of the latter is the Cowrie shell which was used as currency in West Africa and around the Indian Ocean until the mid-19th century. The history of money is also covered by the term numismatics. Since approximately 500 BC, money has developed as a means of payment for traded goods, with coins struck in specific denominations, usually made from metal alloys to standards laid down by the issuing body. Initially, gold and silver coins such as the Roman Aureus and Denarius were typically struck for the upper echelons of society as their value was too great to be of use as payment for goods encountered in subsistence living, but once the use of coin was extended to the common man as a replacement for barter, base metal coins were introduced to reflect the lower transaction values. In Roman times, the latter meant bronzes, with various denominations such as the Sestertius, Dupondius, As or Quadrans struck. As with the coins struck in precious metals, they were used as both a means of facilitating trade and as a propaganda tool. Although produced in vast numbers and used by all, they did not survive well as they were used for transactions rather than as a store of wealth and consequently rarely hoarded. Such pieces that do survive in superb condition are both desirable and wonderful works of miniature art. For nearly 300 years, from Augustus (BC 27) until Postumus (AD 268) the minting of the Sestertius became a new form of mass propaganda, a currency for the “plebeian”, the average Roman person but as mentioned above used by all. The coins were art in a small format, though with the size of a Sestertius being more than an inch in diameter, they were a relatively large canvas for the coin engraver to work with. Usually they depicted the history of military success, the proudness of Rome, buildings, Gods, heroes, emperors haranguing the troops, celebrating victories, captives and more. The obverse (heads side) usually had a bust or busts that in all probability were a real likeness to the Emperors and Empresses portrayed. We can only assume this as there are no contemporary reproductions attesting a likeness to any individual, though the variation between emperors’ portraits, but the consistency of portraits within a period of rule suggests they ought to be reasonably so. They were coins that were circulated throughout the empire in vast numbers and assisted in the payment of commerce. The bronze coins had a unique attraction in that due to the metal they attracted incredible patinas, colours created through the earth they were hoarded or lay in. How old is the habit of collecting coins and by extension the study of numismatics? The Romans themselves had a penchant for collecting, as both Pliny and Plutarch tell us that there were those who were prepared to buy coins no longer in circulation at prices higher than their face value. This little snippet of information might suggest that people have always been interested in collecting and studying coins, but the truth is we can only go on the recorded history in this instance. In 1906, the Prof. Sarti sale of Roman coins contained examples from the Bolsena hoard. This included 4000 Roman coins of every emperor from a period covering 200 years. Quality sestertii and more in an excellent state of preservation that may have been an example of an early numismatist’s collection ? At this sale in 1906 it was recorded “this sale the rarity of names seen was completely neglected, prevailing absolutely the modern theory that conservation not only applies to everything, but is the only element of judgment” As ever, quality was paramount to the collector.
Quality of coins is certainly important but for me it's only one aspect of the decision for bidding or buying.
It's a super-cool addiction ... I love it (but it's an addiction) It is a very interesting way of studying & viewing history and carefully choosing and sorting very sweet metallic art-examples ... it is a wonderful hobby (too bad about the addiction part)
I'm a student of history and coins are a tangible connection to that history. I can find as much interest in a $30 coin as a $300 one. If coins didn't exist, I would probably be collecting some other items from the eras that intrigue me. I'm rather a purist when it comes to the definition of numismatics. It's a branch of the science of archaeology. Collecting for the sake of market value has nothing to do with numismatics, by my definition. That's the realm of speculation and investment.
I was an art major also, but I got into collecting coins because I first got into buying pre-64 silver coins. I bought some bullion and slowly got more and more into the interesting types of coins out there and the art aspects of them. Eventually I branched out into exonumia and all sorts of foreign coins. I find it a very rewarding hobby, and to me it's a lot like a treasure hunt. I call myself "mildly numismatic", but it's a progressive disease.
No to 1 and no to 2! (1)Are you really denying the existence of the thousands of Imperial portraits in paint, bronze and marble that are displayed in museums around the world? Yes, there are no photographs but the appearance of many emperors is pretty well documented. (2)In 1906 the collection world was emerging from the previous emphasis on rarity and entering the newly fashionable emphasis on condition. Take as an example of the previous (to 1906) generation's rarity emphasis the 1834 two volume set of books A Descriptive Catalog of Rare and Unedited Roman Coins by J.Y. Akerman which took over 1000 pages to list all the rare Roman coins (but none of the common ones) known to the author and went further to rank them listing which were rarest of the rare and which were only rare. We currently are in a period where most collectors value grade to the point that they pay several times the MS66 price for an MS68. When I last collected US in the 1950's we recognized grades of Uncirculated and Brilliant Uncirculated but the average collector on the street never thought about breaking it down further. Times change. Currently there are people paying huge sums for the best known examples of common ancients but we have no way of knowing what fad will grip collectors of the next century. Certainly the EF will sell for more than the VF but whether it will retain the current proportions or not is a matter to be seen. Currently there is also a bit of an avoidance for rare coins that are not on the popular lists of rarities. It is a fact that price follows demand rather than rarity and many of us have relatively cheap coins more rare than the EID MAR denarius (most popular ancient unless you count the Athenian owl and Tiberius Tribute Penny which are as common as can be). The old joke is that the third known example of a coin went unsold because there are only two people who care and they each have one. Will rarity come back into fashion? Maybe, maybe not. I can not accept as gospel the commercial fashion guru of 1906 any more than Mr. Akerman's opinions from his book (which is not worth much today for a well printed and illustrated work of that age).
