TREASURE this

Numismatics or “hobby of kings” can be absorbing and fascinating. Would you like to try it?

A person who collects and studies coins or paper money is called a numismatist. Though coin collecting dates back to ancient Rome, it wasn’t popular until the Renaissance in the 13th century. It was around this time that it came to be known as the “hobby of kings”. Luckily, today you don’t have to be a king to mint your own collection.

Collectors specialise, in different categories based on the coin’s value, time period, metal types or historical value. There are also those who enjoy collecting everyday common coins, and some may have a collection of coins from different countries.

Getting started

What you need:

Magazines on coin collecting - They serve as reference material to start a collection.

A pair of white gloves - Gloves are worn to make sure the surface of the coins and notes remain free from contamination.

Magnifying glasses: To inspect the lines, details, age of the coins.

Coin albums or folders: To arrange your collection.

You should also know why certain coins like the 1 paisa, 5 paisa, 10 paisa and 20 paisa, were discontinued. Ask your parents, grandparents and cousins for old coins. Read up on its origin, reasons for its introduction and discontinuation.

Join a club and get a mentor.

Some coins would have been to commemorate a special event, or to honour a person. Evaluate the accurate value of a coin based or its mint mark, age, colour and condition.

How to collect old coins

1. Visit a coin dealer or any hobby shop.

2. Join a numismatics club.

3. Decide what you want to collect. You might want to start with paisas.

4. Ask friends and relatives to save coins for you.

5. Keep your coins in albums or folders.

6. Do not clean your coins.

Famous coin collectors

King Emmanuel III of Italy owned a collection of of over 1,00,000 coins, which he bequeathed to the Italian nation when he abdicated in 1946.

Baltimore businessman Louis E. Eliasberg Sr actively collected coins from the mid-1920s until his his death in 1976. He was the only person ever to assemble a complete collection of circulating.

Harry W. Bass , who only started in his late 30s, amassed a huge collection of 19th century gold coins. He built one of the finest holdings of numismatic books and catalogues ever gathered by a private collector. He also established the Harry W. Bass Junior Research Foundation to advance research and scholarship in U.S. coinage.

TheFarouk dynasty that ruled Egypt from 1936 to 1952, collected an estimated 8,500 medals and gold coins.

Caesar Augustus (63 B.C. - 14 AD) was supposedly the first ever coin collector. According to Suetonius, a Roman historian, he gave “coins of every device, including old pieces of the kings and foreign money” as Saturnalia (a festival to honour the god Saturn) gifts.

In India, Jo Nambiar (1961 - ) an antique collector and numismatist, has one of the largest collections of ancient coins and rare currencies. It is an asset that the Reserve Bank of India recognises and borrows from for its annual “Coins and Currencies” exhibition.

Coin trivia

The oldest Roman coin was found in Britain and it was minted in 211 BC. On one side of the coin, there is the image of Goddess Roma while on the other is the image of mythical twin horses Pollux and Castor.

In 1940 at Gorky, Russia, there was a rain of silver coins all over the city. This was caused by a Tornado which had lifted an old money chest consisting of silver coins. As the wind carried them on, coins were dropped all over the city.

The largest numismatic organisation in the world is American Numismatic Association that was founded in 1891. This Association has the largest circulating numismatic material in the world. It’s headquarter includes the World Money Museum.