Coin Collecting

Numismatics is the study of money but the term occasionally is used to include coin collectors, themselves. Although stashing away money for its intrinsic value has occurred throughout time, the collecting of money as a hobby for its rarity is more recent, dating back to the 14th century in documented writings.

Still, there are Roman emperors who are known to have had coin collections (that could have been because their profiles were on them). Julius Caesar is credited with writing the first book about money, but he could have been more interested in the study of money, rather than collecting. The activity, known as the "hobby of kings," has only become more popular in recent decades.

Numismatists

Those who study money are not necessarily avid collectors. The numismatist and collector, both, might be able to assess the value and rarity of a coin but the numismatist might not get a kick out of owning rare coins. The researcher is more concerned with the study of monetary instruments and historical aspects of money. Their interest is more scientific than that of a hobbyist.

The rarity and value of coins is of interest to both, but it is the numismatist who studies the nuances of these factors, including minting errors and the aging of money. They are more closely aligned with the science of money and are a reference for museum curators and historians.

Collectors

Coin collectors are more interested in the hobby aspects of money, identifying and finding interesting and rare coins. Casual collectors snatch up anything unusual that comes across their notice, while the serious collector might specialize in certain types of coins or might specialize in certain eras and periods.

For the collector, the thrill comes from finding a rare coin in change received at a fast food restaurant. They often inspect coins they are given to check the mint mark and year of issue before putting them in their pocket. They are more likely to be found at the local coin shop going through the offerings and are willing to "buy" money at more than its established value. They might collect circulated coins or only be interested in coins from a certain country or time period.