Coins Types

Coins can be seen as being of one of three types:

• Regular issue coinage are the normal coins intended to be used in commerce every day and are typically issued with the same design for several years. Eg euro coins
• Circulating commemoratives are intended to be used for commerce, but the design will only be issued for a limited time, is intended to draw some attention to a specific event or person. Examples include the €2 commemorative coins, or US State Quarters.
• Non circulating legal tender (NCLT) are coins which are legal tender, and thus can in theory be used to purchase goods or services, but are not intended to be used in such a manner. Rather they are intended to be used only as souvineers, and are often produced in gold or silver with a proof finish.

In the United Kingdom, before decimalisation of the money system in 1971, the usual commemorative coin was a crown, or five shilling piece. These were issued to mark coronations of monarchs; one was also issued on the occasion of the death of Winston Churchill. Some decimal crowns (worth 25 pence) were issued, but since 1990 the £5 has been the usual non circulating commemorative coin. Other denominations such as the 50 pence and £2 are issued as circulating commemoratives.

Coin collectors are often divided on the relative merits of non circulating legal tender. Many countries issue large quantities of non circulating legal tender purely as a profit making exercise. The events that these coins commemorate are often chosen based on a perceived market, rather than events of significance to the country. Detractors comment that circulating coins are intended to showcase the culture of the country which issues them, and therefore have historical interest. Proponents will point out that non circulating coins are often used to showcase the art form and technology of minting. Technology developed for non circulating coins has moved to circulation issues - coloured coins were first issued as non circulating legal tender, but Canada has recently issued coloured commemorative coins into (albeit limited) circulation.

See also

• Coin characteristics;
• Items - read about registered types of item in Collection Studio;
• Collectible Characteristics - read all about registered fields for each collectible.

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