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    Coin Collecting Book For Beginners
    Coin Collecting Book For Beginners
    Coin Collecting Book For Beginners
    Ebook71 pages33 minutes

    Coin Collecting Book For Beginners

    By Rice C. McLeish

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    About this ebook

    Coin collecting is sometimes referred to as humanistic, which originates from the Greek word nummi, or "money."

     

    Coin collecting has three aspects. There are collectors seeking fun. There are coin dealers with profit as their sole motivation and then, there are some scholars who find coins to be useful artefacts for studying human sociology and archaeology. Coin collecting is more than just collecting coins.

     

    Considering the length of time that coins have been produced and the breadth of what has been issued to drive local economies, there is an almost unimaginable number of coin - and currency-related objects to collect. Most collectors begin with what is most available to them—their pocket change. Many collectors, for this reason, like to begin with the U.S. 1-cent coin. 

     

    For more information, click to order now!

    LanguageEnglish
    PublisherOmoade
    Release dateApr 11, 2022
    ISBN9798201796532
    Coin Collecting Book For Beginners
    Author

    Rice C. McLeish

    Rice C. McLeish is a renowned Numismatist, an extensive researcher, and a top expert in the field of coin collecting. He grew up sneaking away to gather coins at his grandmother's house. Rice, a resident of San Jose has participated in many coin shows over the years. He would regularly research and display coins in his collections to both family and friends. His first coin show was performed in 2002 having a large gathering. Today, he writes and displays his own coin. When he's not writing, he spends time with his wife and his do

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      Book preview

      Coin Collecting Book For Beginners - Rice C. McLeish

      Introduction

      Numismatics, or coin collecting as it is more popularly known, originated from the Greek word nomisma, which means legal currency or coin. If today we use checks, paper notes, and, quite more often, plastic cards, the ancient societies used coins for their day-to-day purchases.

      The first coins known to have been minted were from Lydia in Asia Minor, which today is part of Turkey but was under Greek influence. They date back to more than 2,600 years ago. Those first coins were made of gold and silver alloy.

      The Lydians then were keen on business, and they were able to build a wealthy society that made advances in trade and commerce. Coins from this era show the progress of coin design throughout history.

      During those times, the most common medium of payment were pieces of gold and silver ingots. Because no standards existed then and there were many dishonest merchants, each transaction involving payment in gold and silver called for a careful weighing of the medium. 

      Coins were then invented circa 650 B.C. and were minted using standardized weights of gold and silver. The government stamped it with the guarantee of value. The next century saw the development of the coins as the principal medium of business.

      It is thought that the hobby of coin collecting began as soon as the first coin was minted.  Since banks were nonexistent at the time, collecting them seemed to be a practical way to store them. They were being hoarded not only for their intrinsic value but because of their rarity too. These coins have become a family legacy, being passed from one generation to the next.

      Some scholars believe that real coin collecting began in the late Middle Ages when many European kings sought out and collected rare coins used as tenders by ancient societies. 

      One interesting fact they found out was that no two coins were identical due to striking the coins.  Coins were struck by hand then, and it was only during the 1500s that coins began to be minted using machines. Because those European kings started collecting coins, this hobby is often referred to as the Hobby of Kings.

      Coin collecting gained popularity during the Renaissance, and many enterprising people began to create many high-quality forgeries. Today, even these forgeries have been given a high value because of their quality, age and, historical significance.

      In the United States, the first coins were made of copper and were struck at the Philadelphia Mint starting in 1793, as part of the Coinage Act. Production at that time was manually done, and coins were struck one at a time.

      In 1837, Charles B. Macauley was appointed the Secretary of the Treasury, and soon a flaw was found in the copper coins.

      The Mint's director-designate, William E. Duane, was tasked with creating a new model for the coinage of all countries in America; however, due to a lack of skilled mechanics and craftsmen, it took an additional year for him to make improvements to the coining machine.

      The government eventually opened more U.S. mint branches to distinguish coins minted in each one; they established a system for mint marks on March 3, 1835, where they prescribed regulations for identifying coins stamped at each branch. They were to assure control of all coinage, and the production of coins was standard for all.

      Modern numismatics involves the study of mid-17th to 21st-century coins.  It is during this period that coins began to be struck using machines.  If ancient coins attracted interest from professional scholars, historians, and archaeologists due to their historical and archaeological significance, modern numismatics caters to collectors’ and amateur enthusiasts' needs.

      It focuses on the determination of the coin's relative rarity based on their production and use. Other matters of interest in modern numismatics include coin varieties, mint-made errors, the outcome of progressive die wear, mint marks, and figures.

      In 1858, a group of collectors founded the American Numismatic Society (ANS). This international non-profit organization upholds the preservation and study of coins and other numismatic materials such as medals and paper

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