If you have already dealt with coins , you have certainly encountered the term numismatics. It does not matter whether you are interested in special gold coins from Australia or coins in general. Especially laymen are confronted with a question at this point: What does a numismatist collect? Are you a numismatist yourself after buying coins? Or does it require an extensive and diverse collection of rare silver or gold coins?
Numismatics: What is a numismatist?
For some people, numismatics is purely a hobby. Others, however, consider it a science. Numismatics may include paper money or medals in addition to gold coins or other coins. Because of the scientific aspect, you will find the job title numismatist mainly in the museum field.
The difference to a simple hobby collector is big: While the collector or investment collector looks at the value of the coin, especially ancient numismatics deals with numerous other aspects. This includes the coins with all their peculiarities, but also the historical and social background. Therefore, banknotes are also important for numismatics.
Numismatics: What does a numismatist collect?
Nevertheless, the following applies: A numismatist primarily collects coins. Both gold coins, silver coins and platinum co ins can be of interest. Since banknotes are also important in numismatics, even these can be among the collectibles. Although many numismatists also view coin collecting as a long-term money investment strategy , they are particularly interested in valuable rarities. Such treasures tell their own story about the era from which they come and the society at that time. These characteristics are not apparent at first glance, but can be gathered through the necessary research. But regardless of the historical aspects, the following coins are of particular interest to most numismatists.
Interest in bullion coins among coin collectors is high. These bullion coins are valued based on the precious metal they contain. Among the most famous bullion coins, for example, is the Panda 1982 1 Oz, one of the most popular gold coins from China. Krugerrand gold coinsfrom South Africa also fall into this category. Investment coins are suitable, as the name already makes clear, for the investment respectively the investment. Accordingly, if you want to expand your financial portfolio, you are on the safe side with bullion coins.
The special thing about such coins is that they are basically legal tender . Therefore, they are assigned a value and, in theory, can be used in everyday life as money in principle. In addition, when you buy these coins, you get a guarantee of weight and purity.
Bullion coins are minted in an unlimited number, and the surfaces are usually less elaborate . The reason for collecting such coins is the material value. A simple layout and design also reduces the cost of embossing. So, if you decide to buy bullion coins, it is important that the precious metal is as valuable as possible.
Collector coins, also called numismatic coins, are special rarities and very popular among collectors. These are specimens that differ from the classic bullion coins in their production and marketing. They are always minted for collecting and regularly issued in limited quantities. This category also includes the so-called commemorative coins. An interesting example of a particularly unusual commemorative coin would be the Darth Vader silver coins for the 40th anniversary of Star Wars.
Instead of pure material value, they address the core of numismatics: historical, social, and artistic significance. The numismatist also checks the collected coins for exactly these characteristics. This category includes, in particular, the old and modern commemorative coins. They are very special thanks to their design themes. At the same time, they are not suitable for circulation.
This means that, unlike bullion coins, numismatic editions have an unusual design, which makes them particularly interesting for coin collectors. This interest is specifically promoted by the worldwide mints through various programs and special issues. Such a feature can be, for example, the so-called polished plate. This term indicates that it is a coin with a surface polished to a high gloss. This makes it look like a mirror at first glance. Also common is the so-called relief, which inspires with its extraordinary clarity and definition.
How much is my coin worth? – Determine and estimate coins
At Rarecoin you can get a variety of different coins that will surely enrich your collection. You already own gold, silver or even platinum coins and wonder how much your coin collection is actually worth. Of course, the best way is to contact an expert. Because dealers in the field of numismatics will support you if you want to have your coins appraised . In this way, you create a realistic overview. Nevertheless, there are some starting points that will tell you how much your coins might be worth.
In fact, each coin is only worth as much as a third party is willing to pay for it. Since supply and demand are constantly fluctuating, it is almost impossible to consistently quote an exact price for your gold coins. That’s why it pays to stay up to date – whether you’re buying coins or selling your collection.
1. time factor
For many coins in numismatics, the time factor is crucial to the coin value. The older the coin, the more valuable it is. However, this aspect concerns mainly rarities from ancient times. With newer gold coins, age has little influence.
As you already know, supply and demand determine to a large extent the price that can be achieved. Therefore, the general rule is: The lower the number of pieces minted, the higher the coin value. Whether you have rare coins in your hands, you can easily research online. However, you should not only pay attention to the number of embossings. The region in which the coin was in circulation is also important. The larger this area turns out to be, the rarer it is in individual areas.
3. minting errors
As in many other areas , misprints are a profitable collecting opportunity. This could be wrong inscriptions, deviating coin motifs or similar. In most cases, you can expect a high coin value for such mishaps.
4. thematic coherence
A thematic compilation of coin collections is always a good idea. Do you have a complete coin collection from a previous century? Such collections are best sold. The same applies to special editions or coins from certain regions.
Proper care of coins: The nuts and bolts of numismatics
Are you in possession of rare gold coins from Russia or a South African Krugerrand? Then you hold a valuable possession in your hands. To keep it that way, make sure it is stored safely and properly. A well-groomed appearance is particularly important if you want to sell your collection later .
How you clean your gold coins or other treasures depends first on their age. Historic collector coins can benefit from a patina . This is a deposit on the coin, which ensures its authenticity. Modern bullion coins, on the other hand, should always be polished to a shine so that you can get a good price with them.
Important: It is imperative that you refrain from using harsh cleaners. It is better to carefully clean the dirty spots on your gold coins. To do this, simply use a mild soapy water and a soft brush.
Then you can store I in a special coin box. You can get such boxes in every coin shop.
Buy rare coins, sell coin collection: Online or on site
Your numismatist in Wiesbaden offers you rare coins: RareCoin. In the coin shop you can have your coins valued, sell your coin collection or buy coins. This allows you to benefit from a wide range of possibilities. At the same time, Rarecoin offers you different ways of buying coins. You can visit our experts on site or conveniently get advice online .
Exactly how the price is made up depends on various factors. This is as true when selling your collection as it is when buying coins. For this reason, it may make sense to first obtain a personal quote. On the basis of analysis by a team of experts, it is possible to make such an offer for your coins. However, there are some aspects that always factor into coin buying pricing:
- Metal value: Although ancient numismatics is interested in a wide variety of coins, not all specimens are equally valuable. An important factor is the material from which the coin is made. Therefore, the prices of silver, gold, platinum or palladium can sometimes differ significantly. There is a direct correlation between the weight of your coin and the metal value.
- Rarity: How rare a coin is initially has nothing to do with numismatics. It results from the availability on the market. The rarer the silver or gold coins are and the higher the demand, the more the price increases.
- Age: Especially historical coins are popular in numismatics. These can be gold coins from Russia or even antique gold coins from Mexico While the age hardly plays a role with newer editions, it behaves in the opposite way with historical coins. In addition to age, demand and rarity affect coin value.
- Demand: Demand combined with rarity can have an immense impact on coin value. Therefore, popularity among coin collectors always plays a role in calculating the price of the coin.