NUMISMATIC - COIN WORLD

Where did the word “numismatics” come from? First documented as an English word in the early part of the 1800s, this word derived from a French adjective, numismatiques, which means "of coins." In turn, that word came from the Latin word for “coin.” The meaning of the word gets even more interesting when the Latin word gets traced back to the original Greek that it was borrowed from. After some iterations, the word came from the Greek nemō, or "I dispense or divide."

Numismatic

Know your U.S. coins: Coronet $20 double eagle

Although most standard price guides agree that three distinct Coronet $20 double eagles were produced, three "subtypes," if you will, collectors paying closer attention will find there's more to collect than immediately meets the eye.

The Coronet double eagle was introduced into circulation in 1850, and struck every year through the end of the century, into the year 1907 when it was replaced by the famed Saint-Gaudens designs. The two major design elements remained unchanged for the entirety of the series: James Barton Longacre's standard portrait of Liberty wearing a coronet inscribed liberty on the obverse, and a heraldic eagle with shield on its breast and two scrolls on the reverse.

Catalogers have conveniently categorized the series into three subtypes or groups, based on changes to the reverse design:

The subtype of 1850 to 1866 features a reverse lacking "In God We Trust" and bearing the denomination as TWENTY D. Two versions of the same basic design by two different artists were used, one by Longacre and the second by Anthony C. Paquet in 1861 only. (Paquet's lettering was taller and narrower than the lettering used by Longacre.)

COIN VALUES: Know what your Coronet $20 double eagle gold coin is worth today 

The motto IN GOD WE TRUST was added to the reverse design in mid-1866 for the type of 1866 to 1876, with examples of both mottoless and motto-bearing designs struck during the transition year.

The denomination was expanded to read TWENTY DOLLARS on the type of 1877 to 1907. This reverse type remained in use through the remainder of the series. A new reverse hub was introduced in 1900 and used for the remainder of the series. The back of the eagle's head is smooth, compared to the earlier hubs depicting an eagle with slightly projecting feathers.

Collectors collecting by type could select examples from each of these periods to have a complete set. However, a greater challenge exists when one looks at each period in greater detail.

Many contemporary collectors and catalogers who collect by the reverse design types ignore significant changes made to the obverse over the years. By seeking these obverse variations, collectors can expand their collecting horizons.

Staff members of the American Numismatic Association Certification Service noticed in 1978 what had always been there but unnoticed. liberty was actually spelled llberty on the coins of 1850 to 1858.

The die sinker punched two Ls into the coronet rather than an LI. Despite more than 100 years of study, no one had noticed the misspelling, or had reported it if they had discovered the problem.

A new obverse was introduced in 1859, with liberty spelled correctly. Longacre's J.B.L. designer's initials were moved slightly, and other minor changes were made to the obverse design.

A new, slightly modified obverse was introduced in 1877, the same year the reverse denomination was spelled out in full. The most obvious changes are the positioning of the stars and head.

All told, the series comprises at least three distinct obverses and five distinct reverses.

Keep reading from our "Know Your U.S. Coins" series:

Cents and half cents:

2- and 3-cent coins:

Nickels:

Dimes and half dimes:

Quarters:

Half dollars:

Dollars:

Gold coins:

Community Comments

Numismatics is about more than just coins.

While many people use numismatics as a general term to refer only to the study of coins, this word actually refers to the study of all kinds of money. As such, it includes the study of coins and also paper bills, tokens, and other related objects that have been used as currency by various people throughout history, as well as noncurrency items like medals. Some kinds of money used at different points in history might surprise novice numismatists; for example, a culture might have used shells as a currency. 

Barter, or the trade of objects and services for other objects and services, has long been used in the marketplace and continues today. In some cases, the line between barter and currency still provides a topic of debate, but in most cases, articles about numismatics cover subjects like coins and paper money. Numismatics might become easier to comprehend by understanding the numismatic values of coins and paper money, and this refers to the value of a coin or note that is higher than the intrinsic or face value. In other words, this could also be called the collectible value. For example, a historical gold coin has an inherent value that is based upon its bullion value. It may also have a face value, or the actual value of the money assigned by the country that produced it. However, that same coin might be worth much more than the gold or the face value because it is rare, historically significant, beautiful, and/or designed by a famous artist.

Ultimately, understanding numismatics really depends upon understanding the nature of money. In the past, money might have been shells, gems, or precious metals. Today, most societies rely upon coins and paper money, but in this digital age, even that has begun to change as billions of dollars get exchanged every day electronically without the need for physical currency. Even more revolutionary, there are new digital currencies that have never been based upon any nation's physical currency. As it has in the past, it is likely that the study of numismatics will continue to evolve as currency evolves.