![]() ![]() Likewise, as with most collectibles, a coin collection does not produce income until it is sold, and may even incur costs (for example, the cost of safe deposit box storage) in the interim. As with all types of investment, the principle of caveat emptor applies, and study is recommended before buying. Investors buy with the expectation that the value of their purchase will increase over the long term. Prices drop for coins that are not in long-term demand, and increase along with a coin's perceived or intrinsic value. As with stamps, precious metals, or other commodities, coin prices are periodical based on supply and demand. Possibly the most common type of collectors are the hobbyists, who amass a collection purely for the pleasure of it with no real expectation of profit.Īnother frequent reason for purchasing coins is as an investment. The motivations for collecting vary from one person to another. Two 20 kronor gold coins from the Scandinavian Monetary Union As one of the oldest and most popular world pastimes, coin collecting is now often referred to as the "King of Hobbies". The first international convention for coin collectors was held 15–18 August 1962, in Detroit, Michigan, and was sponsored by the American Numismatic Association and the Royal Canadian Numismatic Association. Coin shows, trade associations, and regulatory bodies emerged during these decades. The market for coins expanded to include not only antique coins, but foreign or otherwise exotic currency. During the 19th and 20th centuries, coin collecting increased further in popularity. Numismatics as an academic discipline emerged in these centuries at the same time as a growing middle class, eager to prove their wealth and sophistication, began to collect coins. But rational, Enlightenment thinking led to a more systematic approach to accumulation and study. Perhaps because only the very wealthy could afford the pursuit, in Renaissance times coin collecting became known as the "Hobby of Kings." ĭuring the 17th and 18th centuries coin collecting remained a pursuit of the well-to-do. ![]() Some notable collectors were Pope Boniface VIII, Emperor Maximilian I of the Holy Roman Empire, Louis XIV of France, Ferdinand I of Spain and Holy Roman Emperor, Henry IV of France and Elector Joachim II of Brandenburg, who started the Berlin Coin Cabinet (German: Münzkabinett Berlin). Following his lead, many European kings, princes, and other nobility kept collections of ancient coins. The Italian scholar and poet Petrarch is credited with being the pursuit's first and most famous aficionado. During the Renaissance, it became a fad among some members of the privileged classes, especially kings and queens. Ĭontemporary coin collecting and appreciation began around the fourteenth century. While the literaly sources are scarce, it's evident that collecting of ancient coins persisted in the Western World during the Middle Ages among rulers and high nobility. According to Suetonius in his De vita Caesarum ( The Lives of the Twelve Caesars), written in the first century AD, the emperor Augustus sometimes presented old and exotic coins to friends and courtiers during festivals and other special occasions. It also seems probable that individual citizens collected old, exotic or commemorative coins as an affordable, portable form of art. ![]() Evidence from the archaeological and historical record of Ancient Rome and medieval Mesopotamia indicates that coins were collected and catalogued by scholars and state treasuries. However, the collection of coins for their artistic value was a later development. People have hoarded coins for their bullion value for as long as coins have been minted.
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