What is Numismatics?
As complicated as
the word looks, its meaning is quite simple. Numismatics
(new/miz/mat/ticks) is the study of coins, tokens, currency,
and other similar objects (such as medals). Anyone who
studies, or collects, any of these items is known as a
numismatist (new/miz/muh/tist). It might surprise you to
learn that numismatics, or coin collecting, has been around
for centuries--as early as 25 B.C. In ancient times,
numismatics was known as the "hobby of kings." Today, anyone
can be a numismatist. In fact, coin collecting is the
second-most popular hobby in the United States behind
gardening. It is estimated that more than 150 million people
collect the new state quarters, drawing increasingly more
interest to the hobby.
Starting your own collection is easier than you might think. Chances are you already have a collection started. You might be saving a few of those state quarters or maybe you have a few foreign coins from international vacations. One of the questions most frequently asked by new collectors is, "What should I collect first?" Unfortunately, there isn't a defined path for you to follow. What you collect should be based on three main factors: (a) financial limitations, (b) time commitment, and most importantly, (c) personal interests.
You might ask why the last factor is the most important. This is simply because there are many different approaches to numismatics. For example, if you enjoy world history, you might enjoy collecting ancient or foreign coins. If precious metals interest you, then you might prefer the wide variety of gold, silver, and platinum coins available. This, of course, is not a set of guidelines you must follow, but rather a way for you to think about what you might want to collect and to help you choose the path you want to follow.
Keep in mind you do not have to be rich to collect. There are several sets that can be put together relatively inexpensively. Lincoln Cents and Roosevelt Dimes are among the most popular, and easiest, collections to begin with. Their long production history and large mintages make them easy and relatively inexpensive to obtain, even in higher grades. They provide you with a good foundation for future collections and are beneficial to your education and experience with coins and grading.
Now that you know the basics of numismatics, once you feel you are ready to start collecting, go for it! Remember to take it slow as you get started, but more importantly, have fun!
