Before coins and money were invented, the method of trading goods and service was done through a primitive barter trade system, or through using carefully-weighed precious metals, like silver and gold as payment. Coins were initially developed in a bid to effectively stop scheming and unscrupulous dealers from deceiving their merchants and buyers, and became the primary instruments for the payment of goods and services.
Coin collecting has been known to already exist for thousands of years; however it wasn't until the Fifth century when the ancient Greeks started to hire artists to depict the figures, emblems and faces of gods, goddesses and heroes on their coins. Emperor Alexander the Great was noted as starting the trend of using realistic designs on the coins, apart from utilizing idealistic representations or abstract symbols.
The famed Italian poet and scholar Francesco Petrarca, who was also called the 'the father of the renaissance, was among the most famed of coin enthusiasts who helped heighten awareness on the hobby of coin collecting, and have made it a unique and artistic endeavor as well. Kings, members of royalty, and even the popes of the Roman Catholic Church became avid coin collectors. It was noted that emperors and other notable social figures paid a premium price for coins that were rare, or were no longer in circulation. Notable figures of royalty who were avid coin collectors included Henry IV and King Louis XIV of France, as well as Elector Joachim II of Brandenburg, who founded the Berlin coin cabinet.
The process of minting coins officially started in the United States in 1792, with the passing of the Coinage Act. The US dollar became the official unit of monetary exchange, and the Philadelphia Mint was the first to mint the US Silver Dollar coin. The Philadelphia Mint was then joined by the Denver Mint in 1906, the San Francisco Mint and the West Point Mint, which produced proof sets and gold coins. Each coin in the US was marked with a P, D, S or W, denoting the mint from which each coin was manufactured. In August 1962, the first ever international coin collector's convention was held in Detroit, Michigan. An estimated 40,000 people attended the convention, which was sponsored by both the US and Canadian Numismatic Associations.
Today, coin collecting has become a popular hobby, and has millions of adherents worldwide. A number of museums and organizations worldwide also showcase collections of valuable and rare coins. Among these are the American Numismatic Society in New York City. Established in 1891, the group aims to educate and inform people regarding the informative, profitable, and thrilling art of coin collecting.
Oscar is a coin collecting expert. For a great coin collecting guide be sure to visit http://www.begincoincollecting.com.
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