| For about a thousand years, people of stature have | | | | head was being pressed. The significance of the |
| been collecting gold and silver coins. This practice | | | | symbols on the trite were lost over time. |
| (Numismatics) used to be limited to those in charge or | | | | Assuming this lack of proof is the problem, we will |
| the extremely wealthy. Nowadays, most of us know | | | | check the Greek coins and others throughout Asia |
| that coins can increase in value over time. Actual | | | | Minor and China as the next oldest. These coins date |
| Numismatists, however, are still low in number. Most of | | | | around the same period of 5th Century BC. We find |
| us do not know the value increase factor(s). We | | | | that despite their metal content, extreme age and the |
| depend on Numismatists to tell us what a coin is worth. | | | | fact that they are tokens of an ancient civilization, |
| We do not know the details of how a coin with a | | | | these coins are not at the top of an auctioneer's price |
| currency value of one dollar ends up selling for over | | | | list. One may dream of finding a treasure chest full of |
| $3 million? | | | | ancient coins or even doubloons but your fortune may |
| As for why we collect in the first place, humans love | | | | not be realized. |
| tokens. Everyone collects something. The pictures we | | | | Greek, Chinese and Asian coins (the earliest validated |
| take of our family, the arts and crafts we value and | | | | coins) are being sold as entire collections for only a |
| collect, trophies to remind us of our victories, clothing | | | | few thousand dollars. A Spanish doubloon in excellent |
| articles we cannot part with are all items we keep as | | | | shape might be sold for $4,000. Absence, apparently, |
| reminders of another time. In many instances when a | | | | only makes the heart grow fonder until the absence |
| person's home was lost, they mourned the | | | | has lasted beyond the point where it matters. The |
| irreplaceable family pictures and other items worth far | | | | more distant the history does not equate to rarity or |
| more, to them, than the monetary value of the house | | | | personal appeal on the auction floor. In fact, the more |
| itself. We treasure these tokens until they deteriorate | | | | ancient coins available, the lower the price may go. |
| with the passing years and are deemed worthless. | | | | The fact is, Numismatists are not archaeologists. |
| Precious art and memories have been preserved in | | | | Then what of the coins that you may have heard sold |
| marble, bronze, silver and gold. Witness the memorials | | | | for over a million dollars? Is it true? Checking the |
| and museums which represent entire civilizations, | | | | Heritage Auction Galleries, we find a "Hall of Fame" |
| thriving long before we were born. | | | | and two coins that sold for $3.7 million - the Class I |
| Shiny, sparkling, aesthetic gold and silver is desirable in | | | | 1804 American silver dollar and the 1913 Five Cent |
| any form though silver is the more practical metal of | | | | Liberty. Why would recent history have so much more |
| the two. Most people believe that age and the metal | | | | value to a Numismatist than ANCIENT history? The |
| content is the determining factor in a coin's value. If | | | | answer relates to law in marketing that is as evident |
| their estimation of these two factors is correct, then | | | | as the law of gravity -- supply and demand. Our |
| the oldest gold and/or silver coin would be the most | | | | hypothesis now could be that the value of the coin is |
| valuable. With some research, one can determine if | | | | established by its rarity and appeal to the affinities of |
| that is a correct assessment. | | | | the coin collector. |
| First we will find the value of the Lydian Lion trite. It has | | | | Sure enough, we find evidence of this in the |
| been called the "first coin" as it appears to predate | | | | presentation below the coin. Written there is an entire |
| Greek coinage. Minted from a gold and silver | | | | history of the coin including its past owners, how much |
| combination called electrum or "white gold," its obverse | | | | each paid for it, the fact that there are only eight |
| is a lion's head and the reverse varies. This Kingdom | | | | known to be in existence, two of which are in |
| of Lydia "coinage" (650BC to 561BC) auctions in | | | | institutions. The grading has been done by a |
| present day from around $350 to $2,500. Its worth | | | | respectable Numismatics firm. There is an extremely |
| during its time is argued at anywhere from one to | | | | low supply with only six Numismatists owning this coin. |
| eleven sheep. If its worth was indeed eleven sheep | | | | In fact, having this coin in your collection practically |
| during its time, its value has not increased much | | | | immortalizes you as a Numismatist. |
| beyond inflation since eleven sheep would cost you | | | | Checking into other coins that fetched a high price, our |
| from $550 to $1,100 today. | | | | hypothesis is proven out. A coin's rarity, history, |
| Possibly a reason for the unimpressive value of the | | | | sentimental appeal and numismatic prestige have a lot |
| Lydian trite is due to the fact that it is not officially a | | | | to do with the price. The 1913 Five Cent Liberty has a |
| coin. According to Webster, Second Edition, a coin is: | | | | similar documentation and sold at $3.7 million. Of |
| "A piece of metal (or, rarely, of some other material) | | | | course, there are always exceptions to the rule and |
| certified by a mark or marks upon it to be of a definite | | | | other factors to consider. The coins "luster," its content |
| exchange value and issued by governmental authority | | | | of pure gold or silver, its graded condition as well as its |
| to be used as money." The Lydian "coin" lacks any | | | | history and significance all take part in the asking price. |
| evidence of being issued by a governmental authority. | | | | In this article, however, the intention was merely to |
| Additionally, it was rarely found outside of its own | | | | clarify that the value of coins is not based on its age; |
| kingdom, thereby leaving us with insufficient proof that | | | | and, if you are selling coins on auction sites, it would |
| it was used as currency. The reverse marks on a | | | | behoove you to certify as much information as you |
| Lydian trite vary in design. Some may have been | | | | can about your coin and display it. |
| made simply to hold the metal in place while the lion's | | | | |