Coin collecting is seen as among the most popular hobbies today. An individual can start collecting coins anytime and any day. You may begin by collecting the coins you have in your pocket, or in your piggy bank. The hobby starts to get more interesting, and sometimes more costly, when a collector is willing to cough up a considerable amount of cash for a particular coin, like a vintage or turn-of-the-century variant. Many veteran coin collectors buy expensive coins to shore up the value of their repository.
At present, the art of coin collecting has fascinated millions of people all over the world. Most of the famous museums in the planet showcase collections of rare and valuable coins. In the United States, the Smithsonian Museum in Washington D. C. and the American Numismatic Society in New York City feature an impressive collection of ancient and vintage coins. These institutions also offer valuable information and education regarding the art of collecting coins.
Although it may be quite hard to pinpoint the early beginnings of coin collecting, it is believed that the hobby began after the first coins were minted in 650 B.C. Coins were created during this period to facilitate a more formal exchange of goods and services. Precious metals such as gold or silver were minted into coins, which served as the primary mode of payment, and slowly eradicated the primitive barter trade system. The Greeks were among the early advocates of minting coins from precious metals, wherein they designed coins which had depictions of gods, goddesses, and mythical heroes.
In the Renaissance Period, a renowned Italian scholar named Francesco Petrarca, who was also called the father of the Renaissance, became the first coin enthusiast to revitalize the hobby of coin collecting. Petrarca was also considered to be among most famous of coin collectors during this period. The hobby turned into a passion for a lot of famous persons during the Renaissance, and among noted coin collectors were the popes of the Roman Catholic Church, and even kings and other royalty figures. This hobby was soon alluded to as the "The Hobby of Kings", and famous figures such as Kings Louis XIV of France, Ferdinand I, and Henry IV of France were noted to be among the most well-known of coin collectors.
The United States of America officially began minting coins at the beginning of 1792, with the passing of the Coinage Act. The Coinage Act formally recognized the US Dollar as the official unit of monetary exchange, and the Philadelphia Mint became the first manufacturing hub for minting US coins. The Philadelphia Mint also coined the US Silver Dollar, and in the succeeding years, the Denver Mint, the San Francisco Mint along with the West Point began producing gold coins and proof sets as well. Each coin in the US is marked with a P, D, S or W, which denotes where the specific coin was produced.
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Author: Oscar Mundy
Article Source: EzineArticles.com
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