Whilst coinage and notes date back many thousands of years, most numismatists concentrate on the era after coins started to be machine manufactured - considered by many to be the 17th Century.
It seems odd that someone might be prepared to pay more than the face value for a coin or note to acquire it. But some notes and coins have attraction either by rarity, attractiveness or as a result of some fault in their production meaning that they hold a degree of uniqueness.
The whole area of numismatics covers not only the form of money but also the role it plays in religion and society. It also includes the study of the settlement of debts and barter as a means of trade.
To understand the significance of a coin or note, you need to gain an appreciation of the period in which it was produced. Whilst many engage in trading coins and notes based on their value to collectors, others prefer to acquire a collection based on an historical period or with a theme. The internet provides a wealth of information that could only previously be accessed through hours of painstaking library research meaning that amateur collectors can readily gain information or source pieces from anywhere in the world.
As with most hobbies, the more you become drawn into the subject, the greater the knowledge that can be acquired. It is relatively straightforward and low cost to start a simple collection but refining it or upgrading its quality demands greater knowledge and an appreciation of the limitations or opportunities. Getting an appreciation of value, for example, can be a challenge for an obscure piece of Asian coinage. Also making sure that you are dealing with a genuine piece rather than a fake or copy draws the enquirer into far deeper levels of knowledge of the market.
So numismatics can be a simple pastime or a deep passion. Unrivalled information as to the manufacturing process, the history of the period and the rarity value of the piece can be gleaned for those willing to delve deep. There are societies to join and a bountiful supply of blog and chat sites to help gather information and source pieces. No longer is the collector confined by a local world of specialist outlets and dealers.
If you intend to be serious about collecting then you need to learn as much as you can about the subject to avoid the pitfalls - and thus being fleeced. Develop relationships with two or three reputable coin dealers and get confident with the art of grading and identifying coins. Perhaps one of the most useful acquisitions is a good quality magnifying glass so that the fine detail can be seen. Unless you like their appeal, mass produced 'mint sets' are unlikely to be worth what you pay for them in the next few years. The high volume means their appeal to collectors is low.
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