Numismatics Terminology Portal

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Numismatics is the study or collection of currency including coins tokens paper money and related objects. While numismatists are often characterized as students or collectors of coins the discipline also includes a much larger study of payment media used to resolve debts and the exchange of goods. Lacking a structured monetary system people in the past as well as some today lived in a barter society and used locally-found items of inherent or implied value. Early money used by people is referred to as "Odd and Curious" but the use of other goods in barter exchange is excluded even where used as a circulating currency . The Kyrgyz people used horses as the principal currency unit and gave small change in lambskins. ¹ The lambskins may be suitable for numismatic study but the horse is not. Many objects have been used for centuries such as conch shells precious metals and gems.

Today most transactions take place by a form of payment with either inherent standardized or credit value. Numismatic value may be used to refer to the value in excess of the monetary value conferred by law. This is also known as the "collectors value" or "intrinsic value."

Economic and historical studies of moneys use and development are separate to the numismatists study of moneys physical embodiment .