Exonumia are numismatic items other than coins and paper money. This includes Good For tokens, counterstamped coins, elongated coins, encased coins, souvenir medallions, wooden nickels and it is related to numismatics, and many coin collectors are exonumists. Besides the above definition, others extend it to include non-coins which may or may not be legal tenders such as cheques, credit cards. These can be considered notaphily or scripophily, the noun exonumia is derived from two classical roots, meaning out-of in Greek, and nummus, meaning coin in Latin, out-of-coins. Usually, the term exonumia is applied to objects in the United States. The words exonumist and exonumia were coined in July 1960 by Russell Rulau, an authority and author on the subject. Chronologically, in the United States many Exonumia items were used as currency when actual money was not easily available in the economy, a notable exception to this definition are Medals, which were generally not used as currency or exchange.
See the for clarification section below for distinctions between various branches of exonumia, Tokens were used both to advertise and to facilitate commerce. Token authority Russell Rulau offers a definition for exonumia. For example, an advertising token may be considered a medal, Good For tokens may advertise. Counterstamped coins have been called “little billboards. ”Strictly, exonumia is anything not a governmental issue coin and this could almost mean anything coin-like. The English term Para-numismatica, or alongside currency, appears more limiting, hinting that tokens must have some sort of “value” or monetary usage, one definition of Para-numismatica is anything coin-like but not a coin. In America this is not the accepted usage, rulaus 1040 page tome, UNITED STATES TOKENS, 1700-1900 includes many tokens without any monetary value depicted on the token. While he included many items, some types of exonumia were not included just so the book would not get any bigger, the following groupings of categories are continually expanding.
One way of parsing tokens is into three general categories, Has a ‘value, ’ facilitating commerce, such as Good For Something. Commemoration, dedication, or the like, for person, place. Typically catalogs of tokens are organized by location, time period and/or type of item, historically the need for tokens grew out of the need for currency. In America some tokens legally circulated alongside or instead of currency up until recently, hard Times Tokens and Civil War Tokens each were the size of the contemporary cent
In finance, a bond is an instrument of indebtedness of the bond issuer to the holders. The most common types of bonds include municipal bonds and corporate bonds, interest is usually payable at fixed intervals. Very often the bond is negotiable, that is, the ownership of the instrument can be transferred in the secondary market and this means that once the transfer agents at the bank medallion stamp the bond, it is highly liquid on the second market. Thus, a bond is a form of loan or IOU, the holder of the bond is the lender, the issuer of the bond is the borrower, and the coupon is the interest. Bonds provide the borrower with funds to finance long-term investments, or, in the case of government bonds. Certificates of deposit or short term commercial paper are considered to be money market instruments and not bonds, the main difference is in the length of the term of the instrument. Bonds and stocks are both securities, but the difference between the two is that stockholders have an equity stake in the company, whereas bondholders have a creditor stake in the company.
Being a creditor, bondholders have priority over stockholders and this means they will be repaid in advance of stockholders, but will rank behind secured creditors in the event of bankruptcy. Another difference is that usually have a defined term, or maturity, after which the bond is redeemed. An exception is a bond, such as a consol, which is a perpetuity, that is. Bonds are issued by authorities, credit institutions, companies. The most common process for issuing bonds is through underwriting, when a bond issue is underwritten, one or more securities firms or banks, forming a syndicate, buy the entire issue of bonds from the issuer and re-sell them to investors. The security firm takes the risk of being unable to sell on the issue to end investors. Primary issuance is arranged by bookrunners who arrange the bond issue, have contact with investors and act as advisers to the bond issuer in terms of timing. The bookrunner is listed first among all participating in the issuance in the tombstone ads commonly used to announce bonds to the public.
The bookrunners willingness to underwrite must be discussed prior to any decision on the terms of the issue as there may be limited demand for the bonds. In contrast, government bonds are issued in an auction. In some cases, both members of the public and banks may bid for bonds, in other cases, only market makers may bid for bonds
Company scrip is scrip issued by a company to pay its employees. It can only be exchanged in company owned by the employers. In the UK, such systems have long been formally outlawed under the Truck Acts. In the United States and logging camps were created and operated by a single company. With this economic monopoly, the employer could place large markups on goods, making workers dependent on the company, in 19th century United States forested areas, cash was often hard to come by. This was particularly true in lumber camps, where workers were paid in company-issued scrip rather than government issued currency. In Wisconsin, for example, forest-products and lumber companies were exempted from the state law requiring employers to pay workers wages in cash. Lumber and timber companies paid their workers in scrip which was redeemable at the company store. Company-run stores served as a convenience for workers and their families, in certain cases, employers included contract provisions requiring employees to patronize the company stores.
Employees who wanted to change their scrip to cash generally had to do so at a discount, lumber company scrip was redeemable in lumber as well as other merchandise. According to the Wisconsin Historical Society, such an option may have appealed to new settlers in the region, taking some of their wages in lumber may have helped them build a much-needed house or barn. Coal scrip is tokens or paper with a monetary value issued to workers as an advance on wages by the company or its designated representative. As such, coal scrip could only be used at the locality or coal town of the company named. As there were no other retail establishments, this constituted a monopoly, the country musician Merle Travis makes a reference to coal scrip in the song, Sixteen Tons on the Folk Songs of the Hills album. The practice has been documented as recently as September,2008, Truck system Private currency Disney dollar Harte, C. J. Coal mine scrip collectors to meet, Steve, past president National Scrip Collectors AssociationScrip Definition
Assyria was a major Mesopotamian East Semitic-speaking kingdom and empire of the ancient Near East and the Levant. Centered on the Tigris in Upper Mesopotamia, the Assyrians came to rule powerful empires at several times. Assyria is named after its capital, the ancient city of Aššur. In the 25th and 24th centuries BC, Assyrian kings were pastoral leaders, Assyria can refer to the geographic region or heartland where Assyria, its empires and the Assyrian people were centered. The indigenous modern Eastern Aramaic-speaking Assyrian Christian ethnic minority in northern Iraq, north east Syria, southeast Turkey, in prehistoric times, the region that was to become known as Assyria was home to a Neanderthal culture such as has been found at the Shanidar Cave. The earliest Neolithic sites in Assyria were the Jarmo culture c.7100 BC and Tell Hassuna, during the 3rd millennium BC, a very intimate cultural symbiosis developed between the Sumerians and the Akkadians throughout Mesopotamia, which included widespread bilingualism.
The influence of Sumerian on Akkadian, and vice versa, is evident in all areas, from lexical borrowing on a scale, to syntactic, morphological. This has prompted scholars to refer to Sumerian and Akkadian in the third millennium BC as a sprachbund and it is highly likely that the city was named in honour of its patron Assyrian god with the same name. The city of Aššur, together with a number of other Assyrian cities, however it is likely that they were initially Sumerian-dominated administrative centres. In the late 26th century BC, Eannatum of Lagash, the dominant Sumerian ruler in Mesopotamia, similarly, in c. the early 25th century BC, Lugal-Anne-Mundu the king of the Sumerian state of Adab lists Subartu as paying tribute to him. Of the early history of the kingdom of Assyria, little is known, in the Assyrian King List, the earliest king recorded was Tudiya. According to Georges Roux he would have lived in the mid 25th century BC, Tudiya was succeeded on the list by Adamu, the first known reference to the Semitic name Adam and a further thirteen rulers.
The earliest kings, such as Tudiya, who are recorded as kings who lived in tents, were independent semi-nomadic pastoralist rulers and these kings at some point became fully urbanised and founded the city state of Ashur in the mid 21st century BC. During the Akkadian Empire, the Assyrians, like all the Mesopotamian Semites, became subject to the dynasty of the city state of Akkad, the Akkadian Empire founded by Sargon the Great claimed to encompass the surrounding four quarters. Assyrian rulers were subject to Sargon and his successors, and the city of Ashur became an administrative center of the Empire. On those tablets, Assyrian traders in Burushanda implored the help of their ruler, Sargon the Great, the name Hatti itself even appears in accounts of his grandson, Naram-Sin, campaigning in Anatolia. Assyrian and Akkadian traders spread the use of writing in the form of the Mesopotamian cuneiform script to Asia Minor, the Akkadian Empire was destroyed by economic decline and internal civil war, followed by attacks from barbarian Gutian people in 2154 BC.
The rulers of Assyria during the period between c.2154 BC and 2112 BC once again fully independent, as the Gutians are only known to have administered southern Mesopotamia
A coin is a small, round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in quantities at a mint in order to facilitate trade. They are most often issued by a government, Coins are usually metal or alloy, or sometimes made of synthetic materials. Coins made of metal are stored in large quantities as bullion coins. Other coins are used as money in transactions, circulating alongside banknotes. Usually the highest value coin in circulation is less than the lowest-value note. In the last hundred years, the value of circulation coins has occasionally been lower than the value of the metal they contain. Exceptions to the rule of face value being higher than content value occur for some bullion coins made of copper, silver, or gold, while the Eagle, Maple Leaf, and Sovereign coins have nominal face values, the Krugerrand does not. The first coins were developed independently in Iron Age Anatolia and Archaic Greece, Coins spread rapidly in the 6th and 5th centuries BCE, throughout Greece and Persia, and further to the Balkans.
Standardized Roman currency was used throughout the Roman Empire, important Roman gold and silver coins were continued into the Middle Ages. Fiat money first arose in medieval China, with the paper money. Early paper money was introduced in Europe in the Middle Ages, the penny was minted as a silver coin until the 17th century. The first circulating United States coins were cents, produced in 1793, Coins were an evolution of currency systems of the Late Bronze Age, where standard-sized ingots, and tokens such as knife money, were used to store and transfer value. In the late Chinese Bronze Age, standardized cast tokens were made and these were replicas in bronze of earlier Chinese currency, cowrie shells, so they were named Bronze Shell. According to Aristotle and Pollux, the first issuer of coins was Hermodike of Kyme The earliest coins are associated with Iron Age Anatolia. Early electrum coins were not standardized in weight, and in their earliest stage may have been ritual objects, such as badges or medals, issued by priests.
The first Lydian coins were made of electrum, a naturally occurring alloy of silver, most of the early Lydian coins include no writing, only an image of a symbolic animal. Anatolian Artemis was the Πὀτνια Θηρῶν, whose symbol was the stag, a small percentage of early Lydian/Greek coins have a legend
Lydia was an Iron Age kingdom of western Asia Minor located generally east of ancient Ionia in the modern western Turkish provinces of Uşak, Manisa and inland İzmir. Its population spoke an Anatolian language known as Lydian, at its greatest extent, the Kingdom of Lydia covered all of western Anatolia. Lydia was a satrapy of the Achaemenid Persian Empire, with Sardis as its capital, appointed by Cyrus the Great, was the first satrap. Lydia was the name of a Roman province, coins are said to have been invented in Lydia around the 7th century BC. The endonym Śfard survives in bilingual and trilingual stone-carved notices of the Achaemenid Empire and these in the Greek tradition are associated with Sardis, the capital city of King Gyges, constructed during the 7th century BC. The region of the Lydian kingdom was during the 15th-14th centuries part of the Arzawa kingdom, the Lydian language is not part of the Luwian subgroup. An Etruscan/Lydian association has long been a subject of conjecture, recent decipherment of Lydian and its classification as an Anatolian language mean that Etruscan and Lydian were not even part of the same language family.
The boundaries of historical Lydia varied across the centuries and it was bounded first by Mysia, Caria and coastal Ionia. Later, the power of Alyattes II and Croesus expanded Lydia. Lydia never again shrank back into its original dimensions, the Lydian language was an Indo-European language in the Anatolian language family, related to Luwian and Hittite. It used many prefixes and grammatical particles, Lydian finally became extinct during the 1st century BC. Lydia developed after the decline of the Hittite Empire in the 12th century BC, in Hittite times, the name for the region had been Arzawa. According to Greek source, the name of the Lydian kingdom was Maionia, or Maeonia. Homer describes their capital not as Sardis but as Hyde, Hyde may have been the name of the district in which Sardis was located. Later, Herodotus adds that the Meiones were renamed Lydians after their king Lydus, son of Atys and this etiological eponym served to account for the Greek ethnic name Lydoi. During Biblical times, the Lydian warriors were famous archers, some Maeones still existed during historical times in the upland interior along the River Hermus, where a town named Maeonia existed, according to Pliny the Elder and Hierocles.
In Greek myth, Lydia had adopted the symbol, that appears in the Mycenaean civilization. Omphale, daughter of the river Iardanos, was a ruler of Lydia, all three heroic ancestors indicate a Lydian dynasty claiming Heracles as their ancestor
Ancient Chinese coinage
Ancient Chinese coinage includes some of the earliest known coins. These coins, used as early as the Spring and Autumn period, the Spring and Autumn period saw the introduction of the first metal coins, they were not initially round, instead being either knife shaped or spade shaped. Round metal coins with a round, and later square hole in the center were first introduced around 350 BCE, the beginning of the Qin Dynasty, the first dynasty to unify China, saw the introduction of a standardised coinage for the whole Empire. Subsequent dynasties produced variations on these round coins throughout the imperial period, ancient Chinese coins are markedly different from coins produced in the west. Chinese coins were manufactured by being cast in molds, whereas western coins were cut and hammered or, in times. Chinese coins were made from mixtures of metals such copper and lead, from bronze, brass or iron, precious metals like gold. The ratios and purity of the coin metals varied considerably, most Chinese coins were produced with a square hole in the middle.
This was used to allow collections of coins to be threaded on a rod so that the rough edges could be filed smooth. Official coin production was not always centralised, but could be spread over many mint locations throughout the country, aside from officially produced coins, private coining was common during many stages of history. Various steps were taken over time to try to combat the private coining and limit its effects, at other times private coining was tolerated. The coins varied in value throughout the history, some coins were produced in very large numbers – during the Western Han, an average of 220 million coins a year were produced. Other coins were of limited circulation and are extremely rare – only six examples of Da Quan Wu Qian from the Eastern Wu Dynasty are known to exist. Occasionally, large hoards of coins have been uncovered, the earliest coinage of China was described by Sima Qian, the great historian of c. While nothing is known about the use of shells as money, gold. They are not found in hoards, and the probability is that all these are in fact funerary items.
Archaeological evidence shows that the earliest use of the spade and knife money was in the Spring, as in ancient Greece, socio-economic conditions at the time were favourable to the adoption of coinage. Inscriptions and archaeological evidence shows that cowrie shells were regarded as important objects of value in the Shang Dynasty, in the Zhou period, they are frequently referred to as gifts or rewards from kings and nobles to their subjects. Later imitations in bone, stone or bronze were used as money in some instances
A medal may be awarded to a person or organization as a form of recognition for sporting, scientific, academic, or various other achievements. Military awards and decorations are more precise terms for types of state decoration. Medals may be created for sale to commemorate particular individuals or events, an artist who creates medals or medallions is called a medallist or medalist. There are devotional medals which may be worn for religious reasons, Medals have long been popular collectible items either as a variety of exonumia or of militaria. Medallions may be called table medals because they are too large to be worn and can only be displayed on a wall, table top, the word medallion has the same ultimate derivation, but this time through the Italian medaglione, meaning large medal. The main or front surface of a medal is termed the obverse, the reverse, or back surface of the medal, is not always used and may be left blank or may contain a secondary design. It is not uncommon to only an artistic rendering on the obverse, while all details.
The rim is only occasionally employed to display an inscription such as a motto, privy mark, engraver symbol, assayer’s marking. Medals that are intended to be hung from a ribbon include a suspension piece at the crest with which to loop a suspension ring through. It is through the ring that a ribbon is run or folded so the medal may hang pendent, Medals pinned to the breast use only a small cut of ribbon that is attached to a top bar where the brooch pin is affixed. Top bars may be hidden under the ribbon so they are not visible, be a device from which the ribbon attaches. Some top bars are elaborate and contain a whole design unto themselves, Medals that are made with inexpensive material might be gilded, silver-plated, chased, or finished in a variety of other ways to improve their appearance. Medals have made of rock, ivory, porcelain, terra cotta, wood, enamel, lacquerware. Honorary awards, as a button, which it is custom to give the kings kinsmen. Roman emperors used both military awards of medals, and political gifts of medallions that were very large coins, usually in gold or silver.
Both these and actual golden coins were often set as pieces of jewellery, the bracteate is a type of thin gold medal, usually plain on the reverse, found in Northern Europe from the so-called Dark Ages or Migration Period. They often have suspension loops and were intended to be worn on a chain as jewellery. They imitate, at a distance, Roman imperial coins and medallions, the surviving example is mounted for wearing as jewellery
Glossary of numismatics
This article is a collection of Numismatic and coin collecting terms with concise explanation for the beginner or professional. Numismatics is the study of money and its history in all its varied forms. While numismatists are often characterized as studying coins, the discipline includes the study of banknotes, stock certificates, medallions. Sub-fields or related fields of numismatics are, Exonumia, is the study of objects such as token coins and medals. Notaphily, is the study of money or banknotes. Scripophily, is the study and collection of stocks and bonds, adjustment The filing down of a blank to the correct weight before striking, shown by file marks. File marks are still visible on the surface of a coin even after being struck. Alliance coinage Coins minted by two or more state governments in conjunction, the Euro coins would be an example of this. Alloy Homogeneous mixture of two or more elements, where the compound has metallic properties. Common coin alloys include cupro-nickel and bronze, altered Date False date put on a coin to defraud collectors, usually to make it appear more valuable.
Such alterations are often spotted with the aid of a magnifying glass. Anepigraphic coin Coin without an inscription, many ancient coins used only a simple picture of an animal to show value or weight. Annealing Process of heating and cooling metal in order to relieve stresses and this is often done with coin blanks to make the metal less brittle before striking. Assay Test to ascertain the weight and purity of a coin, attribution Identifier of a coin such as date, denomination, or variety. Bag Mark Surface mark, or nick, on a coin usually from contact with other coins in a mint bag, more often seen on large gold or silver coins. Bankers Mark A small countermark applied to a coin by a bank or a trader indicating that they consider the coin to be genuine and of legal weight. Most often found on ancient and medieval coins, but on coins which circulated in China and Japan. Base metal Non-precious metal or alloy containing no gold or silver, common base metals used in coinage include nickel and copper
Numismatics is the study or collection of currency, including coins, paper money, and related objects. Early money used by people is referred to as Odd and Curious, the Kyrgyz people used horses as the principal currency unit and gave small change in lambskins, the lambskins may be suitable for numismatic study, but the horse is not. Many objects have been used for centuries, such as shells, precious metals, cocoa beans, large stones. Today, most transactions take place by a form of payment with either inherent, Numismatic value may be used to refer to the value in excess of the monetary value conferred by law, which is known as the collector value. Economic and historical studies of use and development are an integral part of the numismatists study of moneys physical embodiment. First attested in English 1829, the word comes from the adjective numismatic. It was borrowed in 1792 from French numismatiques, itself a derivation from Late Latin numismatis, genitive of numisma, throughout its history, money itself has been made to be a scarce good, although it does not have to be.
Many materials have been used to form money, from naturally scarce precious metals and cowry shells through cigarettes to entirely artificial money, called fiat money, many complementary currencies use time as a unit of measure, using mutual credit accounting that keeps the balance of money intact. Modern money is essentially a token – an abstraction, paper currency is perhaps the most common type of physical money today. However, goods such as gold or silver retain many of the properties of money, such as volatility. However, these goods are not controlled by one single authority, coin collecting may have existed in ancient times. Caesar Augustus gave coins of every device, including old pieces of the kings, who wrote in a letter that he was often approached by vinediggers with old coins asking him to buy or to identify the ruler, is credited as the first Renaissance collector. Petrarch presented a collection of Roman coins to Emperor Charles IV in 1355, the first book on coins was De Asse et Partibus by Guillaume Budé.
During the early Renaissance ancient coins were collected by European royalty and nobility, Numismatics is called the Hobby of Kings, due to its most esteemed founders. Professional societies organized in the 19th century, the Royal Numismatic Society was founded in 1836 and immediately began publishing the journal that became the Numismatic Chronicle. The American Numismatic Society was founded in 1858 and began publishing the American Journal of Numismatics in 1866, in 1931 the British Academy launched the Sylloge Nummorum Graecorum publishing collections of Ancient Greek coinage. The first volume of Sylloge of Coins of the British Isles was published in 1958, after World War II in Germany a project, Fundmünzen der Antike was launched, to register every coin found within Germany. This idea found successors in many countries, in the United States, the US mint established a coin Cabinet in 1838 when chief coiner Adam Eckfeldt donated his personal collection
Coins of the Achaemenid Empire were issued from 520 BCE-450 BCE to 330 BCE. It seems that before then, a continuation of Lydian coinage under Persian rule was highly likely, Achaemenid coinage includes the official imperial issues, as well as coins issued by the Achaemenid governors, such as those stationed in ancient Asia Minor. Darius first introduced a currency system at about 520-480, the precise period is debatable. The rate of exchange was 1 Daric =20 Siglos and it consisted of a Daric of between 8. 10-8.50 grams in weight and based on the Babylonian shekel of 8.33 grams. The purity was between 98-99% gold, after the capture of Babylon by Alexander, the Satrap Mazaeus issued the double Daric of 16.65 grams in weight whose image was based on the Daric coin and bore his name until his death in 328 BCE. 1 Daric =25 Attic Drachmae, Siglos is 5. 40-5.60 grams each, but is based on the 0.5 Lydian Siglos of 10. 73-10.92 grams for the full unit. Purity was at first issue 97-98% but by the middle 4th century was 94-95%,1 Siglos =7.5 Attic Obols Daric coins have been found in Asia Minor, Greece and Italy
Ancient Greek coinage
The history of Ancient Greek coinage can be divided into four periods, the Archaic, the Classical, the Hellenistic and the Roman. The Archaic period extends from the introduction of coinage to the Greek world during the 7th century BC until the Persian Wars in about 480 BC, the Greek cities continued to produce their own coins for several more centuries under Roman rule. The coins produced during this period are called Roman provincial coins or Greek Imperial Coins, the word drachm means a handful, literally a grasp. Drachmae were divided into six obols, and six spits made a handful and this suggests that before coinage came to be used in Greece, spits in prehistoric times were used as measures in daily transactions. Because of this aspect, Spartan legislation famously forbade issuance of Spartan coin, and enforced the continued use of iron spits so as to discourage avarice. In addition to its meaning, the word obol was retained as a Greek word for coins of small value. The obol was further subdivided into tetartemorioi which represented 1/4 of an obol and this coin is mentioned by Aristotle as the smallest silver coin.
Various multiples of this denomination were struck, including the trihemitetartemorion valued at 3/8 of an obol and these coins were made of electrum, an alloy of gold and silver that was highly prized and abundant in that area. By the middle of the 6th century BC, technology had advanced, making the production of pure gold, King Croesus introduced a bi-metallic standard that allowed for coins of pure gold and pure silver to be struck and traded in the marketplace. The Greek world was divided more than two thousand self-governing city-states, and more than half of them issued their own coins. As such coins circulated widely, other cities began to mint coins to this Aeginetan weight standard of. Athenian coins, were struck on the Attic standard, over time, Athens plentiful supply of silver from the mines at Laurion and its increasing dominance in trade made this the pre-eminent standard. These coins, known as owls because of their central design feature, were minted to an extremely tight standard of purity.
This contributed to their success as the premier trade coin of their era, tetradrachms on this weight standard continued to be a widely used coin through the classical period. By the time of Alexander the Great and his Hellenistic successors, the Classical period saw Greek coinage reach a high level of technical and aesthetic quality. Larger cities now produced a range of silver and gold coins, most bearing a portrait of their patron god or goddess or a legendary hero on one side. Some coins employed a visual pun, some coins from Rhodes featured a rose, the use of inscriptions on coins began, usually the name of the issuing city. The wealthy cities of Sicily produced some especially fine coins, the large silver decadrachm coin from Syracuse is regarded by many collectors as the finest coin produced in the ancient world, perhaps ever