What Is a Coin?
A coin is an object that serves as a medium of exchange within a digital economic ecosystem. It operates on its own native blockchain, and is minted through mining. Unlike tokens, coins are designed exclusively as currencies and do not have utility functions such as voting rights.
In a game setting, the use of coins can be an effective way to convey information about a society or a culture. Depending on the setting, this may be as simple as having coins of different sizes and metals to show how wealthier people are in one area compared to another, or as complex as including rules about the use and disposal of coins that could serve to limit corruption and debasement of the currency.
Coins can also serve as a means of making payments, especially in a world without paper money or credit cards. In these cases, the coin is generally the only thing that a person has to prove they are capable of making a payment, and is used as a form of security or guarantee against the debt of another party.
Whether a coin is being circulated or simply being used as a collectible, its value is determined by the amount of metal it contains (with bullion coins, in particular, having their value solely based on their precious metal content), its specific historical significance, rarity, condition and beauty of design, as well as general popularity with collectors. The face of a coin, or its obverse, generally carries an image of a monarch or other authority, or a national emblem; the reverse is often blank or has a variety of types of information.
Sometimes a coin gets its name not from what is actually pictured on its surface, but from the public’s perception of that picture — for example, the British King George III “Bull Head” half-crown didn’t have a bull’s head on it at all, but rather a portrait that looked very thick and bullish, leading to the coin being given this nickname. This sort of name is also possible for modern coins whose names have been changed over time to reflect new designs and eras, such as the Shield nickel, Liberty Head nickel and Buffalo nickel.
Aside from their monetary worth, coins can be valuable historical evidence, and studies of them may help to define the physical extent of empires or illustrate major trade routes. They can even, like medals, provide a unique record of many artistic styles, such as the miniature likenesses of Alexander the Great on his tetradrachm from Temnos in Aeolis, which was dated 188-170 BC. A study of coinage can also illuminate past periods of national financial stress, such as that experienced by the Romans in the 4th century bc.