The term numismatics is actually a subsidiary study on the information that is contained in coins. The numismatic study of a coin seeks to identify the history of a coins origin by determining the place of issue, date of issue, the sovereign that issued it and also the value it carried during its use. The information that is obtained from these coins is then used to pinpoint the political, social and economy structure that the coin was placed in.
Coins are crucial items to historians and archaeologists as they are consistent and datable as evidence in the study of man’s social economy advancement through time over the use of precious metals as money especially when people buy or sell gold for goods, modern day usage of fiat (paper) currency however, has meant that trading gold for services is no longer an option, and most people who hold gold will trade it with gold buyers to convert it back into paper currency, and hence services.
The numismatic faction began as an attempt to rediscover the classical world during the renaissance era in Europe. These coins are normally produced during events of change mainly. Political coups, new rulers, new discoveries and even scientific accomplishments are featured in coins. The study of spread of Islam was mainly garnered through numismatic research when Islamic teachers traveled the seas in an attempt to teach and spread their beliefs. The discovery of silver coins issued by Islamic states from the Middle East was found by archaeologists buried by the Vikings in Scandinavia.
These coins dated between the 7th and 10th century A.D. has yet to be connected directly to travels by these Islamic preachers. Some of the coins dated as far back as 5th century A.D. were found in a sunken ship in Novgorod, Russia. These coins were partly silver while most of it found were gold (these facts were discovered from the logs of those who sell gold coins. The coins are linked to voyages that never return found in the annals of Muslim history. The spread of Islam was mainly tagged and traced by virtually 80 % through numismatic research more than it was via written logs.
As for copper coins that hail from china the numismatic value for some of the copper coins are estimated to be millions of dollars, especially coins that date back to the Han Dynasties. These gold coins spurred the interest of gold buyers and sellers everywhere. The coins were basically made in three combinations of gold coins that were equal to 5 silver coins that were in turn equal to 20 copper coins that were then again equaled to 50 tin coins.
The practical evidence that is derived from the coins is what the basis of numismatic research began with. However, the collection of numismatic coins these days are more so towards trading, hobbyists past-times and enthusiasts. Coins still play a major role in the economies of the entire world and it will do so for a long period of time.