What is numismatics answers?

Numismatics is the study or collection of currency, including coins, tokens, paper money, and related objects . A numismatist is the ones who study and collects coins.

What is the rarest mint mark on a coin?

The Rarest Mint Mark: 1870-CC The 1870-CC mint mark is especially notable for several coins: 1870-CC Liberty Seated Dollar: This coin is one of the rarest, with only 11,758 pieces minted. In high grades, it can fetch upwards of several hundred thousand dollars.

What is the hobby of collecting coins called?

Numismatics (“noo-miz-ma-ticks”) is the study and collecting of things that are used as money, including coins, tokens, and paper bills.

Is collecting coins worth it?

With coin collecting, as with collecting other items, the more rare the coin, the more valuable it is . investing in rare coins has the advantage of potentially providing significant profits. However, it also has downsides to consider, including the fact that earning money investing in rare coins takes time.

Which quarter is worth $35000?

Some 1970 Quarters Are Worth $35,000.

Why is a 1982 penny worth so much?

One reason these coins are so valuable has to do with what they are made of. As GOBankingRates previously reported, any penny minted before 1982 contains 95% copper . Copper pennies are a relatively common find in a penny roll, which lowers their value.

What year is penny worth $20,000?

That's what happened to several pennies produced in 1982, which pushed their value up from 1 cent to nearly $20,000. The penny in question is the 1982-D Small Date Copper Alloy Lincoln Cent , which sold at auction in 2016 for $18,800, according to Numismatic News.

What rare penny is worth $6000?

8) 1922 D Wheat Penny - $6,000. 9) 1914 D Wheat Penny - $5,600.

What is the rarest American coin?

1913 Liberty Head V Nickel In fact, it's among the rarest coins around. The U.S. Mint struck the Liberty V Nickel from 1883 to 1913, but just a reputed five coins were minted in the final year's vintage.

Is there a free app to identify coin value?

CoinFacts (PCGS mobile app) Many coin collectors say the first place to start for any coin collector or enthusiasts is with PCGS — offering a variety of different coin collecting apps for both iOS and Android. PCGS claims they're the industry standard for grading and valuing coins, and most users agree.

What foreign coins are wanted by collectors?

Coins such as ancient Roman Denarii, Greek Drachma, Chinese Cash coins, and Spanish Reales are all examples of old foreign coins that draw the interest of collectors worldwide. Particularly rare or well-preserved specimens, or those associated with significant historical events or figures, can be of significant value.

What is the meaning of numismatics?

Numismatics refers to the study and analysis of how people use money, as well as the collection of various types of money, coins, and other forms of consideration . The history of numismatics dates back centuries. However, coin collecting likely began at the time currency was invented.

Are numismatics a good investment?

The coins you buy could be relatively rare and in decent condition — but if they aren't in great demand, their price won't rise. This explains why some investors lose money on numismatics even when the gold price rises.

What are the disadvantages of numismatics?

Investing in numismatic coins – collectible coins with historical or artistic value – can result in higher production costs than other forms of physical gold like bullion bars or standard coins. This is because numismatic coins often have intricate designs and limited mintage, driving production costs.

Treasures in Your Pocket - American Numismatic Association (2024)

Trustworthy Sources of Information

Our technological growth is occurring at an alarmingly fast rate, and it effects everything in our world—including coin collecting. Just as you would keep your guard up when it comes to anything online, treat your numismatic sources in much the same way. There is a wealth of information available, but it is not all good. Always consider the trustworthiness of your sources. This can save you time, money and aggravation.

Do your best to explore trustworthy coin websites—the ones provided by great numismatic clubs like theAmerican Numismatic Association, theAmerican Numismatic Society,Florida United Numismatists, theGreater Houston Coin Club, thePennsylvania Association of Numismatists, theTexas Numismatic Association, and many others. The websites of publications like Coin World or Numismatic News also provide a wealth of information, and a subscription to either one or both of these magazines will keep you up to date with the current trends in the hobby. Membership in CONECA also includes a subscription to their bi-monthly magazine, ErrorScope, which contains great photos and articles about recent happenings in errors and varieties. Prominent coin grading companies have key numismatic information available online, including data about certain coins.

The following list contains some of the best websites available to numismatists. Use these websites in conjunction with the recommended books listed below. Reading only a couple of books or relying only on internet sources will not provide sufficient knowledge to do well as a coin treasure hunter. And while there are other helpful, educational numismatic websites to assist you, the sites listed here will start you out in the right direction.

• www.money.org (ANA—American Numismatic Association)

• www.numismatics.org (ANS—American Numismatic Society)

• www.whitman.com (Numismatic book company, publisher of the Red Book and CPG)

The Sad Reality of Price Guides

Keep in mind that a price guide is only that—a guide to help navigate your way through the challenging process of arriving at realistic coin prices. The figures in a price guide like the Red Book are retail prices. A dealer cannot pay full retail price; they pay wholesale prices to earn some profit. Dealers also have business expenses (overhead), such as traveling to shows and table fees. The guy at your local flea market may have some great deals, but can you be certain of his knowledge? Chances are that he is not obliged to follow a code of ethics like an ANA member. Dealing with reputable dealers may cost a little more but will pay off in the long run.

Selling coins to dealers is more difficult than buying them and is something you probably won’t feel comfortable doing until you are knowledgeable. Coins don’t always go up in value; you might buy certain die varieties cheaply but may have to sell them cheaply! Die variety collectors learn this hard lesson because even the figures listed in the Cherrypickers’ Guide are retail prices, and many dealers are not concerned with most die varieties. It is important to know relative rarity, collector demand and basic pricing. The saying caveat emptor (Latin for “let the buyer beware”) also applies to sellers—know your values so you don’t sell too cheaply.

Checking auction records is a fantastic
way to help establish fair market valuations for collectible coins. Use this information in conjunction with retail price guides. By doing this, you can become savvy enough to know when a coin is priced too high and should be avoided or priced too low and should be picked up immediately. This is another form of coin treasure hunting that can take years of dedication to reach.

Conclusion

This resource provides information to anyone embarking on a numismatic treasure hunt, regardless of age. You may experience highs and lows, but don’t give up! Study every coin that crosses your path. Prices for collectible coins rise and fall like the tides, and there is no numismatic crystal ball that will foretell the future, so no one can say with perfect accuracy what something might be worth years from now. Remember to use all of the resources you have—especially this one, Treasures in Your Pocket. Balance information online with research from trusted sources, books, and periodicals. Take advantage of the vast wealth of knowledge accumulated by our fellow collectors, researchers, and specialists with years of experience who have paved the way. Share your newfound knowledge with other collectors to help them broaden their experiences. Above all else, please enjoy our hobby. Happy treasure hunting!

Treasures in Your Pocket - American Numismatic Association (2024)

Trustworthy Sources of Information

The Sad Reality of Price Guides

Conclusion

FAQs

What is numismatics answers? ›

What foreign coins are wanted by collectors? ›