How Coins Are Made and Sold
Coin is an app that allows users to earn digital assets, or tokens, by validating geospatial location data when jogging, traveling, or moving in the real world. They can then trade them in for virtual or physical items. Coin has teamed up with the XYO foundation to verify that its users are where they claim to be, which prevents location spoofing, or people claiming to be somewhere they’re not.
Most coins have an image on both sides, called the obverse and the reverse. The obverse usually features the head of a monarch, person, or other important figure. The reverse features a design, such as a flag, animal, or building. The obverse and reverse are sometimes different, but this is less common.
A coin can be made from either gold, silver, or copper. The metal used depends on the coin’s value. A coin with a gold or silver image is considered precious, while one with a copper or bronze image is less valuable. Some coins have a space on the edge of the obverse or the reverse, called the exergue, which can be blank, contain a privy mark or mint mark, or feature other decorative elements.
To make a coin, Mint artists start with a sketch of what they want the coin to look like (1). They then use this drawing to sculpt a model in clay or a 3-D digital representation (2). The model is then transferred to a die (3), which stamps the image onto the coin. Depending on the type of coin, it may also include a legend, or text that provides information about the coin’s issuer or history.
Once a coin is finished, it is placed into circulation. Banks and stores accept them in exchange for goods and services, and they get passed around from person to person until they’re worn down or lost. Most coins spend about 30 years in circulation before they’re too worn to be useful. Then they’re withdrawn from circulation and melted down for other uses.
While it’s possible to collect a wide variety of coins, some people prefer to focus on collecting specific types. For example, some collectors focus on the inscriptions and designs on Greek and Roman coins. Other collectors choose to collect only certain denominations of coin, such as quarters and dimes. Still others focus on a single country or region, collecting coins from their native nation or other countries in which they’ve lived.
The word coin is derived from the Latin for “round piece of metal,” which is exactly what a coin is. Coins have been used as money for thousands of years, and they are still in circulation today. They provide a rare, robust record of linguistic and artistic change, as well as political and economic evolution. If you’re interested in learning more about the world of coins, there are many books and websites that can help you get started.