Coin Clinic – How To Earn a Degree in Numismatics
Numismatic certificate courses are offered by a number of institutions as well as college degree programs tailored toward numismatic degrees.
Are there any colleges that offer a degree in numismatics?
There are certificate courses in numismatics offered by the American Numismatic Association, Royal Canadian Numismatic Association, and others. There are colleges that will tailor a degree program for individuals. Vienna University and the University of Tubingen are two European universities of which I am aware that offer numismatic degrees. Many museum curators have advanced degrees in various fields of humanities.
What are the fields of humanities associated with numismatics?
Some of the related fields from where numismatic scholars have originated include classical studies, ancient history, archaeology, economics, languages, and metal sciences.
Should an archaeologist have numismatic knowledge?
Coins are to archeology what in paleontology would be called index fossils, an object that can help date a dig site. Coins found in an archeological context can speak to us, while ruins and pottery shards may not. Coins can help date a site, identify past trade routes, help access contemporary technology, identify languages in use, measure the wealth of an area, identify rulers, display the level of artistic competence, and more.
Does the U.S. Mint employ numismatists?
Employment at the U.S. Mint is divided into six departments: financial, information technology, manufacturing, protection, sales and marketing, and workforce solutions. I don’t know if the Mint ever advertises specifically for someone with numismatic knowledge, but it would be helpful to have such knowledge, especially if you were employed there in sales and marketing. I am aware that the Denver facility has a numismatics division, but this is more in name than a place where a numismatist would need to be employed.
I recently read about a new company that claims they can grade a coin by scanning rather than viewing it. Why hasn’t this been addressed years ago?
In 1990, a computerized grading system called PCGS Expert was developed by the Professional Coin Grading Service. PCGS Gold Shield™ Service utilized coin grading technology developed in partnership with Positronic. The Expert has been “temporally” retired. Artificial Intelligence through which coins can be graded is actively being developed by others.
Is the Gold Shield program reliable?
According to the PCGS website, “In partnering with Positronic, PCGS has been able to decrease the amount of time it takes to grade coins while increasing accuracy of their grading. Their new system benefits from artificial intelligence and machine learning, allowing coin graders to quickly determine coin authenticity by checking coins against their vast proprietary imaging database.”
Do most slabbed U.S. coins trade sight unseen?
The majority of coins that have been examined and encapsulated by major third-party certification services are still traded sight seen. The sight-unseen market, in particular, that which was established by the Certified Coin Exchange, is most popular for buying and selling common coins that could be said to be treated as commodities rather than as collectibles.
Were coins ever traded as a commodity or in a so-called rare coin fund on Wall Street?
Merrill Lynch and Kidder Peabody established rare coin limited partnerships in 1989 and 1990. This was followed during the early 1990s by the Athena Fund, a fund in which rare ancient coins were held. The Athena Fund was developed by Numismatic Fine Arts International. There may have been others.
Some people believe gold and silver coins reach their highest values during inflationary periods. If this is true, when did silver reach its record price of more than $50 an ounce during the late 1970s?
The incident to which you are referring was an attempt by Nelson Bunker Hunt, William Herbert Hunt, and American Football League founder Lamar Hunt and Kansas City Chiefs owner to corner the market in silver. As might be expected, the price of silver eventually collapsed on what today is remembered as “Silver Thursday,” March 27, 1980. The price of silver was due to supply and demand, not to do with inflation.
Was what the Hunt brothers did illegal?
The brothers and their father were able to corner about a third of the entire world's supply of privately owned silver, but they got caught in margin calls when the spot price of silver declined. The Commodity Futures Trading Commission charged them with “manipulating and attempting to manipulate the prices of silver futures contracts and silver bullion during 1979 and 1980.” They were fined and forced into bankruptcy.
Are the direct Mint release rolls of quarters that much different from those released by the Federal Reserve?
The rolls purchased directly from the U.S. Mint do not appear to differ from those released by the Federal Reserve other than they might be wrapped differently. Coins are bulk-bag shipped to a third-party contractor to be wrapped, then forwarded to the Mint’s order processing contractor.
Is there any information out there regarding IRS forms and publications that explain hobby expense deductions?
The IRS allows deductions for business expenses but not for pursuing a hobby. Should a taxpayer receive income from a hobby but fail to make a profit from this income, the expenses associated with this activity should be listed as miscellaneous itemized deductions. The income received must be reported on Schedule 1, Form 1040, Line 21. Such income does not qualify for self-employment tax.
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