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This article is about numismatics as an academic discipline. For collecting, see Coin collecting.

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 the broader study of money and other payment media used to resolve debts and the exchange of goods. 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 (e.g., cigarettes in prison). 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 cowry shells, precious metals, cocoa beans, large stones, 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, which is known as the collector value.

Economic and historical studies of money's use and development are an integral part of the numismatists' study of money's physical embodiment.

First attested in English 1829, the word numismatics comes from the adjective numismatic, meaning "of coins". It was borrowed in 1792 from French numismatiques, itself a derivation from Late Latin numismatis, genitive of numisma, a variant of nomisma meaning "coin".[2] Nomisma is a latinisation of the Greek νόμισμα (nomisma) which means "current coin/custom",[3] which derives from νομίζω (nomizō), "to hold or own as a custom or usage, to use customarily",[4] in turn from νόμος (nomos), "usage, custom",[5] ultimately from νέμω (nemō), "I dispense, divide, assign, keep, hold".

The first book on coins was De Asse et Partibus (1514) by Guillaume Budé.[9] During the early Renaissance ancient coins were collected by European royalty and nobility. Collectors of coins were Pope Boniface VIII, Emperor Maximilian of the Holy Roman Empire, Louis XIV of France, Ferdinand I, Elector Joachim II of Brandenburg who started the Berlin coin cabinet and Henry IV of France to name a few. 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 the 20th century coins gained recognition as archaeological objects, scholars such as Guido Bruck of the Kusthistorisches Museum in Vienna realized their value in providing a temporal context and the difficulty that curators faced when identifying worn coins using classical literature. After World War II in Germany a project, Fundmünzen der Antike (Coin finds of the Classical Period) 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.[10] William E. Du Bois’ Pledges of History (1846) describes the cabinet.