Although it is impossible to identify the beginning of coin collecting, it is believed that the hobby soon started after the first coins were minted around 650 B.C. Goods were once exchanged for carefully weighed precious metal like gold or silver. Because of dishonest dealers trying to steal things by passing out a lower quantity of metals, the barter system that was once used was replaced by coins made of standardized weights of precious gold. Coins quickly became the newest form of payment for goods.
It was the Greeks who in the fifth century began to commission artists to design the faces and figures on their coins. They commonly used depictions of gods, goddesses, and mythical heroes. Alexander the Great began the popular trend of using realistic designs on the coins instead of idealistic representations.
Francesco Petrarca, a fourteenth century Italian scholar and poet nicknamed the father of the Renaissance, was the first coin enthusiast to bring attention to coin collecting and probably was the most famous coin collector. The hobby, adored for its art and value, soon became popular with popes also during the Renaissance period. They soon turned it into a passion. Evidence also points to Roman emperors who used to pay higher prices than the face value for the coins that were not in circulation. Coin collecting was soon referred to “The Hobby of Kings”, a tile given by the enthusiastic renaissance nobility. Kings like Louis XIV of France, Ferdinand I, and Henry IV of France were also great coin collectors. Elector Joachim II of Bradenburg started the Berlin coin cabinet.
The first international convention for coin collectors was held on August 15th through the 18th in 1962 in Detroit, Michigan. It was sponsored by the American Numismatic Association and the Royal Canadian Numismatic Association. It was estimated that 40,000 people were in attendance.
The United States didn’t officially start minting coins until the beginning of 1792 with the passing of the Coinage Act. The act legalized the United States dollar as the official unit of monetary exchange throughout the states. The Philadelphia Mint was the first to manufacture US coins when it coined the US Silver Dollar. It was then joined by the Denver Mint in 1906. The San Francisco Mint and the West Point mint mainly produce proof sets and gold coins. Every coin in the United States is marked with a P, D, S or W, depending on the mint where it was produced.
Today there are millions of people fascinated by coin collecting and several different museums that showcase valuable and rare coin collections. These museums include the Smithsonian in Washington D. C. as well as the American Numismatic Society in New York City which was established in 1891 to encourage education concerning coin collecting. Numismatists enjoy the thrill of potentially finding something rare and valuable but also appreciate the coins themselves for their aesthetic and historical value.
