| Numismatics is the scientific study of | | | | coins are Pontif Boniface VIII, Italian poet |
| currency and its history in all its varied | | | | Petrarch, Emperor Maximilian of the Holy |
| forms. While numismatists are often | | | | Roman Empire, Louis XIV of France, Ferdinand |
| characterized as students or collectors of | | | | I, Elector Joachim II of Brandenburg who |
| coins, the discipline also includes a much | | | | started the Berlin coin cabinet and Henry IV |
| larger study of payment media used to resolve | | | | of France to name a few. |
| debts and the exchange of goods. Lacking a | | | | |
| structured monetary system, people in the | | | | The 19th century was the most productive in |
| past as well as some today lived in a barter | | | | building up national collections and in |
| society and used locally found items of | | | | publishing catalogues. Theodor Mommsen |
| inherent or implied value. Early money used | | | | fostered the idea of a general corpus of all |
| by primitive people is referred to as "Odd | | | | Greek coins from all collections. An idea |
| and Curious," but the use of other goods in | | | | which is still not possible to be realized. |
| barter exchange is excluded, even where used | | | | |
| as a circulating currency (e.g., prison | | | | In 1931 the British Academy promoted the idea |
| cigarettes). The Kyrgyz people used horses as | | | | of the sylloge, systematic publications of |
| the principal currency unit and gave small | | | | single collections, according to mints and |
| change in lambskins.[1] The lambskins may be | | | | each coin illustrated. Some hundred volumes |
| suitable for numismatic study, but the horse | | | | appeared until today. The idea was taken over |
| is not. Many objects have been used for | | | | by scholars of medieval Britain and in 1993 |
| centuries, such as conch shells, precious | | | | in the field of Islamic numismatics. |
| metals and gems. | | | | |
| | | | In the 20th century as well the coins were |
| Today, most transactions take place by a form | | | | more and more seen as archaeological object. |
| of payment with either inherent, standardized | | | | After World War II in Germany a project |
| or credit value. Numismatic value may be used | | | | "Fundmünzen der Antike (Coin finds of the |
| to refer to the value in excess of the | | | | Classical Period)" were launched, to register |
| monetary value conferred by law. This is also | | | | every coin found within Germany. This idea |
| known as the "collector's value." | | | | found successors in many countries. |
| | | | |
| Economic and historical studies of money's | | | | Modern Numismatics |
| use and development are separate to the | | | | |
| numismatists' study of money's physical | | | | In modern numismatics are the study of the |
| embodiment (although the fields are related; | | | | coins of the mid 17th to the 21st century, |
| economic theories of money's origin depend | | | | the period of machine struck coins. Their |
| upon numismatics, for example). | | | | study serve more the need of collectors than |
| | | | historical studies and it is quite often |
| Coin collecting has existed since ancient | | | | successfully pursued by amateur scholars than |
| times, it is known that Roman Emperors were | | | | by professional scholars. The focus of modern |
| among some of the earliest coin collectors. | | | | numismatics lies frequently in the research |
| It is called the "Hobby of Kings" and | | | | of production and use of money in historical |
| rightfully so due to its most esteemed | | | | contexts using mint or other records in order |
| founders. Numismatics reached its apex due to | | | | to determine the relative rarity of the coins |
| the great demand during the late Middle Ages | | | | they study. Varieties, mint-made errors, the |
| and the early Renaissance. In this period | | | | results of progressive die wear, mintage |
| ancient coins were collected a great deal by | | | | figures and even the socio-political context |
| European royalty and nobility. It is known | | | | of coin mintings are also matters of |
| that Roman Emperors Augustus and Julius | | | | interest. |
| collected Greek coins. Other collectors of | | | | |