Numismatics 101: The Art Of Rare Coin Collecting by Larisa Sprott, Sprott Money
Frequent visitors to the Sprott Money site might have been intrigued earlier this year when a new category appeared on our Canadian site’s navigation: Numismatics. While seasoned precious metals enthusiasts may know what the word means, others may need a definition. Numismatics is the study or collection of currency, and in our case, rare or beautifully-crafted coins.
Numismatics carry a monetary value and a collector value – each coin is worth more than the legal tender amount based on its rarity and how it’s crafted. The coins Sprott Money obtains are valued using several components, including the finish, type of metal used, and mintage. Numismatics can increase in value over time, adding to your investment in precious metals.
I was not a numismatist before Sprott Money Ltd. started working with the Royal Canadian Mint. In January of 2016, our friends at the RCM offered us the chance to join their Numismatics program and gain access to the dozens of uniquely designed silver and gold coins. Ever since, we have found a growing interest from our current clients and newcomers to our site as we promote the new coins of the month.
One of the most fun parts of my job is opening the monthly email from the Mint to see the amazing offerings they have for us vendors. I am always astounded by the creativity and detail that goes into each and every coin. This is why narrowing our selection to a few choice coins is so difficult.
Sprott Money chooses our numismatics based on popular vote. The team gets together every month to choose coins that we think will appeal to our customer base and reflect Canadian art and style. Some of our most popular coins include the Birthstone series, commemorative coins for Queen Elizabeth, and our Heroes series.
Some examples of our numismatics on the Sprott Money site
My personal favourite coins are our Blue Jays coin and the “Welcome to the World” coin . My family and I are big Blue Jays fans and we’re cheering for them to make the playoffs this year. Our Welcome to the World coin is dated 2016 and can commemorate the birth of a loved one or family member. With my social circle having a mini-baby boom, this has proven to be a great baby shower gift!
Sprott Money is looking to do more with our numismatic program in the next year. We’re looking at a dedicated newsletter and website for our coins. We’ve learned that our numismatic buyers are different than our bullion investors, and as such, we are looking for better ways to reach them on social media and in our marketing campaigns. It’s a different business, and one we’re really interested in expanding.
Larisa Sprott, M.Sc, is the President of Sprott Money Ltd., a Canadian precious metals company based out of Toronto, ON. Larisa has over 15 years in the financial industry, having worked at Cormark Securities and Sprott Asset Management. She joined Sprott Money in 2010.