Numismatics – What it is, definition and concept

Numismatics is the economic discipline that deals with the study of coins. It allows to establish its value in a formal way and to facilitate historical disclosure at the same time.

By means of numismatics, a model of analysis or study of the currency is established. That is, it encompasses all knowledge and methodology concerning this type of tangible asset as a distinctive element with collection value.

This concept is present in collecting or collecting circles, being frequent the collection of coins both old and from various sources, that is, from multiple geographical origins.

On the other hand, in the investment field, there are profiles interested in acquiring and carrying out financial operations with old currencies as a payment instrument.

Thus, the existence of a methodology is necessary that allows the value and originality of these objects to be set strictly and reliably.

Relevance of numismatic activity

The importance of numismatic work, however, goes beyond the collecting mission.

Since the 19th century, the interest in learning about coins in an academic way has progressively increased to become one more branch of historical dissemination.

Thus, this methodology, extended at an international level, collaborates when it comes to locating and knowing the different aspects of history.

In this sense, currency experts facilitate knowledge of historical periods and the role played by the monetary and economic sphere of each society.

Main features of numismatic science

As a discipline, numismatics has a series of formal characteristics to take into account:

  • Antiquarian value: Coins have an intrinsic value beyond their translatable monetary value. They are goods that age and represent historical moments.
  • Scarcity and originality: Each issue or monetary issue throughout history has its own peculiarities. Numismatics values ​​these traits.
  • Data representation: At the level of perception, numismatic experts have the duty to represent the real value of a coin taking into account various aspects: origin, manufacturing material, conservation and originality.
  • Notaphilia: It is not only possible to evaluate the value of physical coins built with metals. The notaphilia is the numismatic application to elements such as the existing paper money in old checks, promissory notes and banknotes of ancient origin.
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