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Electrum coin from Ephesus, 520-500 BCE. Obverse: Forepart of stag. Reverse: Square incuse punch
Numismatics is the study or collection of currency, including coins, tokens, paper money, medals, and related objects.
Specialists, known as numismatists, are often characterized as students or collectors of coins, but the discipline also includes the broader study of money and other means of payment used to resolve debts and exchange goods.
The earliest forms of money used by people are categorised by collectors as "odd and curious", but the use of other goods in barter exchange is excluded, even where used as a circulating currency (e.g., cigarettes or instant noodles in prison). As an example, the Kyrgyz people used horses as the principal currency unit, and gave small change in lambskins; the lambskins may be suitable for numismatic study, but the horses are not. Many objects have been used for centuries, such as cowry shells, precious metals, cocoa beans, large stones, and gems. (Full article...)
On January 9, 1925, Vermont Senator Frank Greene introduced legislation for commemorative coins to mark the 150th anniversary of Vermont declaring itself fully independent in 1777 and of the American victory at the Battle of Bennington the same year. His bill passed the Senate without difficulty, but in the House of Representatives faced an array of problems. Treasury Secretary Andrew W. Mellon sent a letter opposing the bill and dispatched three Treasury officials to testify against it, arguing that the public was being confused as special coin issues entered circulation. The committee's resolve to have no more commemorative coins—after this one—did not impress the full House, which added two more half dollars to the legislation to mark other anniversaries. The Senate agreed to the changes, and President Calvin Coolidge signed the authorizing act on February 24, 1925. (Full article...)
The coin stems from the desire of the Columbian Exposition's organizers to gain federal money to complete construction of the fair. Congress granted an appropriation, and allowed it to be in the form of commemorative half dollars, which legislators and organizers believed could be sold at a premium. Fair official James Ellsworth wanted the new coin to be based on a 16th-century painting he owned by Lorenzo Lotto, reputedly of Columbus, and pushed for this through the design process. When initial sketches by Mint Chief Engraver Charles E. Barber proved unsatisfactory, fair organizers turned to a design by artist Olin Levi Warner, which after modification by Barber and his assistant, George T. Morgan, was struck by the Mint. (Full article...)
Image 3 The Indian Head gold pieces or Pratt-Bigelow gold coins were two separate coin series, identical in design, struck by the United States Mint: a two-and-a-half-dollar piece, or quarter eagle, and a five-dollar coin, or half eagle. The quarter eagle was struck from 1908 to 1915 and from 1925–1929. The half eagle was struck from 1908 to 1916, and in 1929. The pieces remain the only US circulating coins with recessed designs. These coins were the last of their denominations to be struck for circulation, ending series that began in the 1790s.
PresidentTheodore Roosevelt, from 1904, vigorously advocated new designs for United States coins, and had the Mint engage his friend, the sculptor Augustus Saint-Gaudens, to design five coins (the four gold pieces and the cent) that could be changed without congressional authorization. Before his death in August 1907, Saint-Gaudens completed designs for the eagle ($10 piece) and double eagle, although both required subsequent work to make them fully suitable for coining. (Full article...)
Image 4 The Eisenhower dollar is a one-dollar coin issued by the United States Mint from 1971 to 1978; it was the first coin of that denomination issued by the Mint since the Peace dollar series ended in 1935. The coin depicts President Dwight D. Eisenhower on the obverse, and a stylized image honoring the 1969 Apollo 11 Moon mission on the reverse. Both sides were designed by Frank Gasparro, with the reverse based on the mission patch designed by astronaut Michael Collins. It is the only large-size U.S. dollar coin whose circulation strikes contained no silver.
In 1965, because of rises in bullion prices, the Mint began to strike copper-nickel clad coins instead of silver. No dollar coins had been issued for thirty years, but, beginning in 1969, legislators sought to reintroduce a dollar coin into commerce. After Eisenhower died that March, there were a number of proposals to honor him with the new coin. While these bills generally commanded wide support, enactment was delayed by a dispute over whether the new dollar coin should be in base metal or 40% silver. In 1970, a compromise was reached to strike the Eisenhower dollar in base metal for circulation, and in 40% silver as a collectible. On December 31, 1970, President Richard Nixon, who had served as vice president under Eisenhower, signed legislation authorizing mintage of the new coin. (Full article...)
The first trade dollars were struck in 1873; the majority of these were sent to China. Eventually, bullion producers began converting large amounts of silver into trade dollars, causing the coins to make their way into American commercial channels. This caused frustration among those to whom they were given in payment, as the coins were largely maligned and traded for less than one dollar each. In response to their wide distribution in American commerce, the coins were officially demonetized in 1876, but continued to circulate. The production of business strikes ended in 1878, though proof coins officially continued to be minted until 1883. The trade dollar was re-monetized when the Coinage Act of 1965 was signed into law. (Full article...)
The largest denomination of United States coin authorized by the Mint Act of 1792 was the eagle, or ten-dollar piece. The large amount of bullion being brought east after the discovery of gold in California in the 1840s caused Congress to consider new denominations of gold coinage. The gold dollar and double eagle were the result. After considerable infighting at the Philadelphia Mint, Chief Engraver James B. Longacre designed the double eagle, and it began to be issued for commerce in 1850. Only one 1849 double eagle is known to survive and it rests in the National Numismatic Collection at the Smithsonian. (Full article...)
Image 7 The Liberty Head nickel, sometimes referred to as the V nickel because of its reverse (or tails) design, is an American five-cent piece. It was struck for circulation from 1883 until 1912, with at least five pieces being surreptitiously struck dated 1913. The obverse features a left-facing image of the goddess of Liberty.
The original copper–nickel five-cent piece, the Shield nickel, had longstanding production problems, and in the early 1880s, the United States Mint was looking to replace it. Mint Chief Engraver Charles Barber was instructed to prepare designs for proposed one-, three-, and five-cent pieces, which were to bear similar designs. Only the new five-cent piece was approved, and went into production in 1883. For almost thirty years large quantities of coin of this design were produced to meet commercial demand, especially as coin-operated machines became increasingly popular. (Full article...)
The coin was named after the English gold sovereign, which was last minted about 1603, and originated as part of the Great Recoinage of 1816. Many in Parliament believed a one-pound coin should be issued rather than the 21-shilling guinea that was struck until that time. The Master of the Mint, William Wellesley Pole had Pistrucci design the new coin; his depiction was also used for other gold coins. Originally, the coin was unpopular because the public preferred the convenience of banknotes but paper currency of value £1 was soon limited by law. With that competition gone, the sovereign became a popular circulating coin, and was used in international trade and overseas, being trusted as a coin containing a known quantity of gold. (Full article...)
Image 9 The Delaware Tercentenary half dollar (also known as the Swedish Delaware half dollar) is a commemorative fifty-cent piece struck by the United States Bureau of the Mint to commemorate the 300th anniversary of the first successful European settlement in Delaware. The reverse features the Swedish ship Kalmar Nyckel, which brought early settlers to Delaware, and the obverse depicts Old Swedes Church, which has been described as being the oldest Protestant church in the United States still used as a place of worship. While the coins are dated "1936" on the obverse and the reverse also has the dual date of "1638" and "1938", the coins were actually struck in 1937.
Authorizing legislation for the coin passed Congress in early 1936. Although there was no opposition, the legislation was changed to add protections for collectors against abuses, such as low mintages or strikings at multiple mints, which marked some commemorative coins at that time. Once the coin was authorized, the Delaware Swedish Tercentenary Commission (DSTC) held a competition to design the coin, judged by Mint Chief Engraver John R. Sinnock and sculptor Robert Tait McKenzie, which was won by Carl L. Schmitz. (Full article...)
Given past abuses in the system, the Mint advocated against the issuance of commemorative coins starting in the 1950s. Beginning in 1971, members of Congress introduced bills to authorize coins to honor the United States Bicentennial, which would occur in 1976. The Mint, through its director, Mary Brooks, initially opposed such proposals, but later supported them, and Congress passed legislation requiring the temporary redesign of the reverse of the quarter, half dollar and dollar. (Full article...)
Image 11 A nickel is a five-centcoin struck by the United States Mint. Composed of cupronickel (75% copper and 25% nickel), the piece has been issued since 1866. Its diameter is 0.835 inches (21.21 mm) and its thickness is 0.077 inches (1.95 mm).
The silver half dime, equal to five cents, was issued from 1792 to 1873 before today's cupronickel version. The American Civil War caused economic hardship, driving gold and silver from circulation; in response, in place of low-value coins, the government at first issued paper currency. In 1865, Congress abolished the five-cent fractional currency note after Spencer M. Clark, head of the Currency Bureau (today the Bureau of Engraving and Printing), placed his own portrait on the denomination. After the successful introduction of two-cent and three-cent pieces without precious metal, Congress also authorized a five-cent piece consisting of base metal; the Mint began striking this version in 1866. The initial design of the Shield nickel was struck from 1866 until 1883, then was replaced by the Liberty Head nickel. The Buffalo nickel was introduced in 1913 as part of a drive to increase the beauty of American coinage. (Full article...)
A commemorative coin craze in 1936 saw some coins authorized by the United States Congress that were of mainly local significance; the York County issue was one of these. Legislation permitting the half dollar passed Congress without opposition in the first half of 1936. Maine artist Walter H. Rich designed the issue; his work has garnered mixed praise and dislike from numismatic authors. (Full article...)
All four coins have the same design. The obverse depicts a bootprint on the lunar surface, based on a photograph taken by Aldrin. That design is by Maine sculptor Gary Cooper, with engraving by Joseph Menna of the Mint. The reverse, as mandated by Congress, depicts the visor and surrounding helmet of Aldrin's space suit, with Armstrong, the U.S. Flag and the Apollo Lunar ModuleEagle in the reflection. This is based on a well-known photograph taken by Armstrong, and was created and engraved by Phebe Hemphill of the Mint. The depiction of Aldrin made him the seventh individual to appear on a U.S. coin who was alive at the time the coins were struck. (Full article...)
The Chinese Silver Panda (Chinese: 熊猫银币; pinyin: xióngmāo yínbì) is a series of silver bullion coins issued by the People's Republic of China. The design of the panda is changed every year and minted in different sizes and denominations, ranging from 0.5 troy oz. to 1 kilogram. Starting in 2016, Pandas switched to metric sizes. The 1 troy ounce coin was reduced to 30 grams, while the 5 troy ounce coin was reduced to 150 grams. There is also a Gold Panda series issued featuring the same designs as the Silver Panda coins. (Full article...)
Image 5The Piloncitos are tiny engraved gold coins found in the Philippines, along with barter rings, which are gold ring-like ingots. These barter rings are bigger than softballs in size and are made of pure gold from the Archaic period (c. 10th to 16th century). (from Coin)
Image 6Alexander the Great Tetradrachm from the Temnos Mint, c. 188–170 BC (from Coin)
Image 18Posthumous Alexander the Great tetradrachm from Temnos, Aeolis. Dated 188–170 BC. Obverse: Alexander the Great as Herakles facing right wearing the nemean lionskin. Reverse: Zeus seated on throne to the left holding eagle in right hand and scepter in left; in left field PA monogram and angular sigma above grape vine arching over oinochoe; ALEXANDROU vertical in right field. Reference: Price 1678. (from Coin)
Image 19A 5 euro note so badly damaged it has been torn in half. The note has later been repaired with tape. (from Banknote)
Image 20Cowry shells being used as money by an Arab trader (from Currency)
Image 21Holographic coin from Liberia features the Statue of Liberty (Liberty Enlightening the World) (from Coin)
Image 30When Brazil changed currencies in 1989, the 1000, 5000, and 10,000 cruzados banknotes were overstamped and issued as 1, 5, and 10 cruzados novos banknotes for several months before cruzado novo banknotes were printed and issued. Banknotes can be overstamped with new denominations, typically when a country converts to a new currency at an even, fixed exchange rate (in this case, 1000:1). (from Banknote)
Image 32Athenian coin (c. 500/490–485 BC) discovered in the Shaikhan Dehri hoard in Pushkalavati, Ancient India. This coin is the earliest known example of its type to be found so far east. (from Coin)
Image 40Earliest banknote from China during the Song Dynasty which is known as "Jiaozi" (from History of money)
Image 41An oxhide ingot from Crete. Late Bronze Age metal ingots were given standard shapes, such as the shape of an "ox-hide", suggesting that they represented standardized values. (from Coin)
Image 42Bimetallic Egyptian one pound coin featuring King Tutankhamen (from Coin)
Image 43Many currencies, such as the Indonesian rupiah, vary the sizes of their banknotes by denomination. This is done so that they may be told apart through touch alone. (from Banknote)
Image 47Gandharan "bent-bar" punch-marked coin minted under Achaemenid administration, of the type found in large quantities in the Chaman Hazouri and the Bhir Mound hoards. (from Coin)
Image 53The earliest inscribed coinage: electrum coin of Phanes from Ephesus, 625–600 BC. Obverse: Stag grazing right, ΦΑΝΕΩΣ (retrograde). Reverse: Two incuse punches, each with raised intersecting lines. (from Coin)
Image 54Collage for banknote design with annotations and additions to show proposed changes (figure rather higher so as to allow room for the No.), Bank of Manchester, UK, 1833. On display at the British Museum in London (from Banknote)
Image 57Five million mark coin (Weimar Republic, 1923). Despite its high denomination, this coin's monetary value dropped to a tiny fraction of a US cent by the end of 1923, substantially less than the value of its metallic content. (from Coin)
Image 58A $5 note issued by Citizens Bank of Louisiana in the 1850s. (from Banknote)
Error – Usually a mis-made coin not intended for circulation, but can also refer to an engraving or die-cutting error not discovered until the coins are released to circulation. This may result is two or more varieties of the coin in the same year.
Exonumia – The study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration.
Fineness – Purity of precious metal content expressed in terms of one thousand parts. 90% is expressed as .900 fine.
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Image 1Obverse and reverse of an old American $100 note (1928) (from Banknote)
Image 2Coin of Alyattes of Lydia, c. 620/10–564/53 BC (from Coin)
Image 3Song dynasty Jiaozi, the world's earliest paper money. (from Banknote)
Image 4The French East India Company issued rupees in the name of Muhammad Shah (1719–1748) for Northern India trade. This was cast in Pondicherry. (from History of money)
Image 5The Piloncitos are tiny engraved gold coins found in the Philippines, along with barter rings, which are gold ring-like ingots. These barter rings are bigger than softballs in size and are made of pure gold from the Archaic period (c. 10th to 16th century). (from Coin)
Image 6Alexander the Great Tetradrachm from the Temnos Mint, c. 188–170 BC (from Coin)
Image 7The Achaemenid Empire satraps and dynasts in Asia Minor developed the usage of portraiture from c. 420 BC. Portrait of the satrap of Lydia, Tissaphernes (c. 445–395 BC). (from Coin)
Image 8Hoard of mostly Mauryan Empire coins, 3rd century BC (from Coin)
Image 9Punch-marked coin minted in the Kabul Valley under Achaemenid administration, c. 500–380 BC, or c. 350 BC. (from Coin)
Image 10Shreds of unfit US dollar notes with a typical size of less than 1.5 mm × 16 mm (from Banknote)
Image 11Chinese round coins, Eastern Zhou dynasty – Warring States Period, c. 300–220 BC. Four Hua (四化, 30mm, 6.94 g). Legend Yi Si Hua ( Yi Four Hua). (from Coin)
Image 12Silver coin of the Maurya Empire, known as rūpyarūpa, with symbols of wheel and elephant. 3rd century BC (from History of money)
Image 13Shredded and briquetted US dollar notes from the Federal Reserve Bank of New York (approx. 1000 pieces, 1 kg) (from Banknote)
Image 14An American Silver Eagle minted in 2019 (left), an example of a Bullion coin. Its obverse design is based on the older, formerly circulating silver Walking Liberty half dollar (right). (from Coin)
Image 15French 1992 twenty Franc Tri-Metallic coin (from Coin)
Image 16The world's oldest coin, created in the ancient Kingdom of Lydia (from Currency)
Image 17Genoese doppia, 1589 (from History of money)
Image 19A 5 euro note so badly damaged it has been torn in half. The note has later been repaired with tape. (from Banknote)
Image 20Cowry shells being used as money by an Arab trader (from Currency)
Image 21Holographic coin from Liberia features the Statue of Liberty (Liberty Enlightening the World) (from Coin)
Image 22Roman sestertius of Nero, c. 54–68 AD (from History of money)
Image 23A 7th century one-third stater coin from Lydia, shown larger (from History of money)
Image 24Russian American Company-issued Alaskan parchment scrip (c. 1852) (from Banknote)
Image 25Shredded and briquetted euro banknotes from the Deutsche Bundesbank, Germany (approx. 1 kg) (from Banknote)
Image 26Greek drachm of Aegina. Obverse: Land turtle. Reverse: ΑΙΓ(INA) and dolphin (from History of money)
Image 27A siglos found in the Kabul valley, 5th century BC. Coins of this type were also found in the Bhir Mound hoard. (from Coin)
Image 28Marco Polo described the use of early banknotes in China to Medieval Europe in his book, The Travels of Marco Polo. (from Banknote)
Image 29100 USD banknote (from History of money)
Image 30When Brazil changed currencies in 1989, the 1000, 5000, and 10,000 cruzados banknotes were overstamped and issued as 1, 5, and 10 cruzados novos banknotes for several months before cruzado novo banknotes were printed and issued. Banknotes can be overstamped with new denominations, typically when a country converts to a new currency at an even, fixed exchange rate (in this case, 1000:1). (from Banknote)
Image 31Genoese 10 doppie, 1641 (from History of money)
Image 32Athenian coin (c. 500/490–485 BC) discovered in the Shaikhan Dehri hoard in Pushkalavati, Ancient India. This coin is the earliest known example of its type to be found so far east. (from Coin)
Image 33Roman aureus of Septimius Severus, c. 193–211 AD (from History of money)
Image 343 Rubles proof coin of Russia, minted in 2008 (from Coin)
Image 36A Swiss ten-cent coin from 1879, similar to the oldest coins still in official use today (from Coin)
Image 37Shredded and briquetted US dollar notes from the Federal Reserve Bank of New York (approx. 1000 pieces, 1 kg) (from Banknote)
Image 38A Yuan dynasty printing plate and banknote with Chinese words. (from Banknote)
Image 39A silver coin made during the reign of the Mughal Emperor Alamgir II (1754–1759) (from Coin)
Image 40Earliest banknote from China during the Song Dynasty which is known as "Jiaozi" (from History of money)
Image 41An oxhide ingot from Crete. Late Bronze Age metal ingots were given standard shapes, such as the shape of an "ox-hide", suggesting that they represented standardized values. (from Coin)
Image 42Bimetallic Egyptian one pound coin featuring King Tutankhamen (from Coin)
Image 43Many currencies, such as the Indonesian rupiah, vary the sizes of their banknotes by denomination. This is done so that they may be told apart through touch alone. (from Banknote)
Image 44Fed Shreds as souvenir from the Federal Reserve Bank of San Francisco (from Banknote)
Image 45Silver stater of Aegina, 550–530 BC. Obv. Sea turtle with large pellets down centre. Rev. incuse square punch with eight sections. (from Coin)
Image 46Fifty-five-dollar bill in Continental currency; leaf design by Benjamin Franklin, 1779 (from Banknote)
Image 47Gandharan "bent-bar" punch-marked coin minted under Achaemenid administration, of the type found in large quantities in the Chaman Hazouri and the Bhir Mound hoards. (from Coin)
Image 48Early punch-marked coins of Gandhara, Taxila-Gandhara region. (from Coin)
Image 49Roman denarius of Julius Caesar, 44 BC (from History of money)
Image 50A 2000 Romanian lei polymer banknote (from Banknote)
Image 51The first paper money in Europe, issued by the Stockholms Banco in 1666. (from Banknote)
Image 52Spade money from the Zhou dynasty, c. 650–400 BC (from History of money)
Image 53The earliest inscribed coinage: electrum coin of Phanes from Ephesus, 625–600 BC. Obverse: Stag grazing right, ΦΑΝΕΩΣ (retrograde). Reverse: Two incuse punches, each with raised intersecting lines. (from Coin)
Image 54Collage for banknote design with annotations and additions to show proposed changes (figure rather higher so as to allow room for the No.), Bank of Manchester, UK, 1833. On display at the British Museum in London (from Banknote)
Image 55Coins can be stacked. (from Coin)
Image 56Genoese scudo, 1541 (from History of money)
Image 57Five million mark coin (Weimar Republic, 1923). Despite its high denomination, this coin's monetary value dropped to a tiny fraction of a US cent by the end of 1923, substantially less than the value of its metallic content. (from Coin)
Image 58A $5 note issued by Citizens Bank of Louisiana in the 1850s. (from Banknote)
Image 591884 United States trade dollar (from Coin)
Image 60The sealing of the Bank of England Charter (1694). The bank began the first permanent issue of banknotes a year later. (from Banknote)
Image 61Name of currency units by country, in Portuguese (from Currency)
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