Numismatic or Circulation

Thank you everyone for sharing you thoughts in my first ever posting, I appreciate it. My interest in coins is growing daily and here's why. I am currently conducting some research regarding the motivation of coin collectors on behalf of the Royal Canadian Mint.

So, that being said, I have another question for you all. If you are currently collecting only circulation coins, why have you chosen not to collect numismatic coins?

Thanks again

Rob

PS - My understanding of the term 'numismatic' refers to those coins that are pressed with no intention of being put into circulation.

 

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Hi Rob,

Circulated coins are numismatic items.

I like them because they are beautiful, interesting, and affordable. (Well, sometimes )

 

Hi Jody

Thanks for the comment, by the way I've added to my first post describing my definition of numismatic vs. circulation.

Knowing that, is do you collect only circulation coins?

Thanks

Rob

 

Hello Rob

I collect both Types ,,, Proofs and business strike coins.

Rick

Check your PM's

 

Collecting coins is as diverse as the individual doing the collecting. Often, people change how they collect or what they collect. I have watched my customers over the years, and some have moved from buying low end coins to high end registry set coins, and it also works the other way. Coins have so much to offer. Some are collected because they are big and pretty, and some because they are rare and valuable. Some do it because they have the fascination with buying money.
No matter what brought them to the decision to collect, there is no wrong way to acheive it. I have seen people who only buy coins that are circulated because they want to hold the coin in their bare hand. That has a lot of appeal. If you really want a good perspective on the joy of collecting, ask a child. They will offer you the most amazing stories and for the most part, show the greatest enthusiasm about their collection.

 

I collect only business strikes and have little of no interest in proofs, commemoratives or bullion for bullions sake. All it takes to acquire a proof or commemorative coin is the money. Business strikes on the other hand take time and patience, and of course a little money. But they have a purpose and a history that goes with each coin. They were produced to be handled and circulated.

I also care little about rarieties. Why tie up all your funds in one coin just because it may be worth more some day. OK, it will be worth more, but that's not why I collect, but I'm probably in the minority. Collecting for me is a way to become more in touch with the history the coin was a part of, rather than just hording as many shinny, round metal disks as I can. But hey, that's just me. I also collect chopmarked, counter marked, holed, cleaned and toned coins. The coins that no one wants because they're damaged goods.

Different strokes,....

 

I'm a collector of buisness strike coins, most are pre 1960, and my main interests are barber coins, and the seated liberty series. I do however buy proof coins, but, only nicely toned ones, I stay away from commemoratives, I haven't ever purchased one in my life. I stay away from gold bullion, but, I'm into the silver bullion a little bit.
I can't really say that I collect coins for historic reasons, unless they are from the times when castles were around, and the history goes back to that whole mythological themes of knights and dragons and the such....
I mostly just collect the coins I do because... well... They are pretty

 

i like to get proofs because they are so beautiful with the deep fields and satiny devices. it's like the device is just floating on a sea of black.

i like circulations coins because, like ND said, it's SO neat to hold something that old or pretty and think of where it's been and who used it. the cost of a circulated coin is usually a heck of a lot less than the same coin mint or proof condition, so that is also a factor.

 

I am another one of those who collects both.The RCM makes so many attractive -non circulating -coins that I have a problem resisting them. I paticularly like the coloured maple leafs (like my avatar), the golden flowers and some of the hologram coins.

 

I'm not into morgans anymore, but, when I did buy them, when they were "nice" I paid about 20 bucks, is that the ongoing price for that there piece you showed me???

 

I thought so .... But seriously, could I get it for under 100 buck? Maybe not one in that good of shape, but... you know, a decent looking one?

 

Another distinction might be to identify some coins as „non-circulating legal tender“ coins. That is, coins which are produced with no intention of that coin (design) ever circulating. Most US commemoratives fit that bill. While I prefer circulating coins (not necessarily CIRCULATED, but coins meant to be circulated) I do pick up a few commems now and then. There are extreme cases, though, where some countries outsource commem coin production to companies inother countries, and they only make the coins to sell to collectors, and in some cases they even demonetize them shortly after issue.

 

Well, I question the validity of that distinction. Who made that up? It sounds like marketing talk from some mint. "Numismatic" refers only to the study of money. I define numismatics as: "The art and science that studies the forms and uses of money."

Do you mean Proof coins, Mint sets, or commemoratives, or something else?

A proof coin is the highest state of the coiner's art. Proof coins have always been highly regarded and like most collectors, I have a few that exhibit those important qualities. Some people are "hot" for them in general, but I am not, nice though they all are.

Mint sets are another little area, where, again, I have a couple, but it is not something I pursue, though may collectors do.

The same holds true for commemoratives.

I agree that collecting "circulation" coins takes some skill. Anyone can write a check to your national mint or central bank and get something brand new and shny in a box. Knowing how to grade -- and that includes knowing how to grade Uncirculated and Proof coins -- is an important test for a true collector, someone who is a numismatist, instead of a random accumulator.

Older material is truly historic, having passed the test of time. For me, a Victoria Young Head penny has more historicity than an Olympic coin from 2004.

Also, if you follow some of the threads in World Coins, you will see that I have an interest in ancients. My collecting range has always been modest and I have not actively collected for several years. However, it just seems to me that if you really have a passion for The Olympics, the proper course is to save, say $25 a month or $25 a week, and at the end of some time buy a real Olympic coin from ancient Elis, rather than to squander small sums to get modern shiny stuff of doubtful merit.

(That said, I have a nephew who plays baseball and an Olympic "Baseball" coin would be ideal for Christmas, now wouldn't it?)

 

The most exciting thing about coins to me is their ability to pass from person to person randomly. They pick up little signs of their travels and travails as they go with each exchange sloughing off a little more metal. They can get "stuck" in a piggy bank or behind a laundromat washer for years and then resume what they had been doing. Each coin has many tales to tell about where it's been and how it got there. It tells about the entity which issued it and their stories taken together tell about what people are doing. It is these coins which are most exciting and which make the best collections for me. The greatest thing about US (and Canadian) coins is that they circulate unimpeded. There aren't large numbers of people grabbing out one of everything. There aren't many people saving '68-D quarters (or '91 Can. quarters) because they aren't often seen. My favorite collections of these are in the finest grades largely because they are more attractive but also because it is only in the higher grades that the coins are scarce or rare usually.

This doesn't mean I don't like or collect the NCLT issues. I do. Some of these are made in small numbers and are very beautiful. They often commemmorate important events or fit in with a collection theme. I just don't feel compelled to collect one of each of these like with the circulating issues.

It's curious just how ignored the circulating coinage has been throughout the world for the last half a century. It's not only collectors who hold these coins in utter disdain, it's also been the mints and the authorities which issued them. This attitude has led to the creation of large numbers of rarities and it is an attitude which has yet to be completely dispelled.

Mints could do far more to promote the collection of circulating coinage. My mother remembers a pamphlet she got with child rearing tips when my brother was born that suggested getting kids interested in coins. It can't be located but she remembers it was the GPO and she encouraged him to collect. I merely followed in his footsteps. While this sort of program may not be indicated the mint could at least make all the coins available for sale. Other than in the mint sets they just don't sell circulation cents and dimes at all. They don't offer any folders or albums except for the special issues, despite the fact that the private sector didn't offer albums either until just this year!

There are lots of things the mint could be doing and lots of very inexpensive quality improvements which could be made to facilitate or encourage people to collect. When you consider the high face value many people would accumulate then one has to believe it's in their self interest.

 

Exactly! There is the fascination! When you hold a circulated coin, it is not abstract "history" that you hold, but the lives of the people who carried the coin.

That said, of course, you are the Clad King and those 1968 Quarters are your domain. Myself, I was thinking more of Victoria Young Head copper pennies, but to each his own.

 

...or at least the pretender to the throne.

The British copper pennys make a great collection and one of my favorites. I wouldn't hesitate to add an uncirculated coin to the set if it were affordable.