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Numismatics is the study or collection of currency, including coins, tokens, paper money and related objects. While numismatists are often characterised 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; the lambskins may be suitable for numismatic study, but the horses are not. Many objects have been used for centuries, such as cowry shells, precious metals, cocoa beans, large stones and gems.
A Demand Note is a type of United Statespaper money that was issued between August 1861 and April 1862 during the American Civil War in denominations of 5, 10, and 20dollars. Original legislation referred to the currency as "treasury notes". The term Demand Note was applied retrospectively because the notes were redeemable on demand for goldcoin. The notes were created to serve as a means of monetary exchange in place of gold and silver coins. The U.S. government used Demand Notes to pay expenses and salaries. Once the public learned the notes were redeemable in gold coin, the notes began to circulate as widely as gold and silver coins previously did.
Because of the distinctive green ink used on the reverse of all Demand Notes, the notes were nicknamed "greenbacks".The obverse of the notes contained familiar elements such as a Bald Eagle, Abraham Lincoln, and Alexander Hamilton; however, the portraits used on Demand Notes are different than the ones seen on U.S. currency today.
Error – Usually a mis-made coin not intended for circulation, but can also refer to an engraving or die-cutting error not discovered until the coins are released to circulation. This may result is two or more varieties of the coin in the same year.
Exonumia – The study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration.
Fineness – Purity of precious metal content expressed in terms of one thousand parts. 90% is expressed as .900 fine.
January 1, 2008
Venezuela launched a new currency with the new year, lopping off three zeros from denominations in a bid to simplify finances and boost confidence in a money that has been losing value due to high inflation. The new currency is called bolívar fuerte or "strong bolívar". Officials also say it is part of a broader effort to contain rising prices and strengthen the economy. More...
January 1, 2008
Today at midnight, the Cyprus and the Malta adopted the euro as their official currency; less than four years after their accession to the European Union. The single currency has replaced the Cypriot pound and the Maltese lira at a rate of one euro to 0.585274 Cypriot pound and 0.4293 to the Maltese lira. In both countries the euro was welcomed with outdoor celebrations, including a fireworks display in Malta's capital Valletta. More...