A Viking Hoard of Ancient Coins

Numismatics is the study or collection of coins, money or medals, which is a science that is attracting more and more interest, particularly during the economic recession. The coins, in particular, have an intrinsic value, as well as an extrinsic value, as they are often made of gold or silver. As we know, gold is a highly valuable commodity right now, as reserves are severely depleted. All of this means that people are waking up to the value of coins and the collecting of coins. As previously mentioned, coins have an intrinsic value (made of precious metals like silver or gold) and an extrinsic value (an extreme example is the value of ancient coins). The extrinsic value of coins is well demonstrated by the following example of a Viking hoard of ancient coins which were discovered by a father and son, who used metal detectors.

David Whelan and his son, Andrew, were using a metal detector, whilst digging in farmland near Harrogate, Yorkshire, when they unearthed an ancient Roman coin. By digging down further, they discovered a silver bowl full of coins – 617 in total – and jewelry. This find turned out to be extraordinary, as the horde is conservatively estimated to be worth around $1.5 million US dollars. It is believed that this horde was buried to keep it safe in 927 when the Vikings were driven out of England. The British Museum will probably purchase these items, because the find has been declared as treasure. The coins themselves are believed to be dated from the 10th century and probably originated from all over Anglo-Saxon England and parts of Asia. What is truly thought provoking is that the British Museum is likely to pay in the region of $1.5 million US dollars divided between David and Andrew Whelan, and the farmer whose land was excavated. This becomes yet another example of the wealth producing results that can be effortlessly achieved through the collection of coins. In line with this, there is a highly-affordable way of becoming involved with numismatics, which will be further explained in the next section.

The recent finding of the ancient Viking horde highlights its huge value today, when it is designated as treasure trove by the British Museum. It really serves as an example of the great importance of coins, ancient and modern alike, as not only part of our heritage, but also as a valuable and secure commodity, being a precious metal. Therefore, it is logical to believe that a numismatic business from the very beginning is aligned with wealth for its unique intrinsic value alone.

Source by John Carlan

A Viking Hoard of Ancient Coins