Numismatics is the study and collection of coins, tokens, banknotes, medals and related forms of money. It covers the history, design, rarity, condition and value of currency, from ancient coins through to modern collectables.
What does numismatics include?
Numismatics covers more than coins. Collectors may study and collect hammered coins, ancient coins, tokens, medals, banknotes, proof sets and other historic money-related objects. For many people, the appeal is a mixture of history, rarity, condition and the story behind each piece.
If you are new to the subject, useful starting points include our ancient coins, British hammered coins and exonumia guide.
Where does the word come from?
The English word numismatics dates from the late 18th century. It comes from the French numismatique, which goes back through the Latin numisma to the Greek nomisma, meaning a coin or current money. Someone who studies or collects coins is a numismatist. Our guide What is a coin collector called? explains the terms in more detail.
Strictly speaking, numismatics is broader than coin collecting, because it also covers tokens, medals, paper money and the history of money itself. In everyday use, though, the two terms are often used to mean the same thing.
A short history of coin collecting
Coin collecting is sometimes called the hobby of kings. The Roman emperor Augustus, who reigned from 27 BC to AD 14, is said to have given old and foreign coins to friends as gifts. Renaissance scholars and princes later built up large cabinets of ancient coins.
The Italian scholar Bartolomeo Borghesi (1781–1860) did much to establish numismatics as a serious academic subject, using coins and inscriptions to piece together Roman history. In Britain, the Royal Numismatic Society was founded in 1836 and is one of the oldest societies of its kind.
Why people collect coins
- Coins can be beautiful objects in their own right.
- Each one captures a moment in history: a ruler, a war, a coronation or a change in the economy.
- They are strong symbols of nationality and place.
- There is the thrill of tracking down rare dates and varieties.
- A collection is enjoyable to arrange, display and share.
- Gold and silver coins also carry the value of their metal.
Collecting coins as an investment
Gold has long been seen as a store of value in uncertain times, and some collectors buy gold and silver coins partly with that in mind. A coin that is valued for both its rarity and its metal content is sometimes called semi-numismatic.
In the UK, legal tender coins from the Royal Mint, such as gold sovereigns and Britannias, are exempt from Capital Gains Tax, and investment gold is exempt from VAT. Other coins can be treated differently, so take professional tax advice before buying for investment. Collectable coins can go down in value as well as up. If you are just starting out, our guide What coins should I collect? is a good next read.
Have coins to identify or value?
If you have coins, tokens, medals or banknotes and would like initial guidance, B and G Coins can help. Start with our free online coin valuation service.
Numismatics FAQs
What is the difference between numismatics and coin collecting?
Coin collecting is usually focused on coins themselves. Numismatics is broader and can include the study of coins, tokens, medals, paper money, monetary history and related collectables.
What is a numismatist?
A numismatist is someone who studies or collects coins, tokens, medals, banknotes or related items. Some are collectors, while others are dealers, researchers, valuers or specialists.
Can B and G Coins help identify numismatic items?
Yes. If you have coins, tokens, medals or banknotes to identify or value, send clear photos through our free online coin valuation service and we will advise where possible.
