Fun Facts on Coins
Before we dive into our coin collecting guide, here are some interesting facts and stats about coins.
1. Numismatics is the official term for coin collecting. Apart from coins, it also refers to the collection and study of paper currency and tokens. A coin collector can be called a numismatist.
2. What we call the ‘penny’ is actually a misnomer which is really named the cent. Don’t let a true collector hear you say the word ‘penny’!
3. From the years 1850 – 1873, the US minted a 3 cent silver piece. Mainly this was because from 1850 – 1873 the postage stamp was 3 cents.
4. Coin collecting has its roots back to ancient kings and queens and has been called “The Hobby of Kings”
5. Most expensive coin ever sold was a 1794 Flowing Hair Dollar worth $10,016,875.
6. All coins initially minted by the US Mint were either Gold, silver or copper. Of these metals only copper is still found in the 1 cent coin with a composition of 97.5% zinc and 2.5% copper.
7. An original 1792 law made counterfeiting and defacing coins punishable by death.
8. It is claimed over $10 billion in loose change is sitting in American homes.
9. Two mottos occur on every US coin, “In GOD We Trust” and “E Pluribus Unum” which is the Latin phrase, “Out of many One”