COURSES
All courses
68 courses now open. Each course is built from goals, lessons, readings, and review with exercises.
Entrance & method11
What to look at, with one coin in front of you. Reading, measuring, dating — the craft of numismatics itself.
What to believe, what to doubt
"Money originated from barter" — We will verify this textbook explanation by returning to the oldest account books.
From a single coin, knowing how many were struck
Ancient mints have left no production records.
Count them, and it comes into view
Weighing a single coin is meaningless.
What is depicted, and what is left out
Coins were the only medium that the state distributed to all its people.
Reading Mania, Deception, and Crisis from Historical Sources
Events do not repeat.
Statistics in the soil
A mass of coins buried together in one deposit is called a hoard.
Read them, and everything comes closer
EID MAR—just six letters.
Lay them side by side, turn the difference into a question
Other subjects teach repetitions that someone has already found.
What to know before you buy
This one subject does not begin with what is interesting.
Only when written does it become scholarship
You may make an interesting discovery, but unless you write it, it reaches no one.
Never polish it
Do not polish.
Living in the present — practice9
Not Getting Deceived
Why even smart people get deceived
Reading Numbers and Documents
How much can you trust numbers?
How Money Works — A Layman's Version
Do banks lend out deposits?
Household Finances
Where does your monthly money come from and where does it go?
The State, Money, and You
How do taxes, pensions, and social insurance connect to your own money?
Principles of Growth and Preservation
What does it mean to grow? What does it mean to preserve?
The Future of Money
Will Cash Disappear?
Money and People
Why People Make Mistakes with Money
How to Learn and How to Verify
Where to Look When You Don't Understand
Chronological history4
From before the first coin to the present, age by age. One book per age, read with real objects and an exercise at the end of each chapter.
Cross-cutting themes20
Birth, debasement, forgery, paper, inflation. The shapes that recurred across 2,700 years, set side by side.
The Birth of Money
The "birth of coinage" was not a singular event.
A Millennium of Ledgers
Why has the story that 'Jews are good with money' been told for a thousand years?
Fineness and Debasement
The contents of “the same coin” quietly shrink.
Nominal and Real
A silver coin with “two shu” written on its face.
Iconography and Power
The face may change while the weight of gold does not.
Religion and Money
Money, monnaie, Münze.
Minting Technology
The ridges on the edge of the coin in your hand.
War and Money
War breaks monetary systems.
Counterfeiting
Counterfeits are born right on the heels of the genuine article.
The Disappearance of a Currency
A currency is killed in three ways.
Paper Money
Why can paper with nothing behind it hold value?
The History of Collecting
The act of collecting itself has a history.
Materials
What is money made of?
Banking and Credit
Credit is the ability to postpone payment.
The Anatomy of Inflation
When paper multiplies, why does each note weigh less?
Money and Law
What can law do to money, and what can it not?
International Currency
One country’s coin becomes another country’s money.
Modern Money
Is the 10,000 yen in your wallet the same money as the 10,000 yen in your bank account?
Unification and Money
One standard for all.
Monetary Union and Fragmentation
Nations that had killed one another in two world wars made their currencies one.
Chains of people14
The people who changed money, and the decisions they made — the same question answered in different centuries.
The Simultaneity of the Axial Age
In the sixth century BCE, in Lydia, China, and India, at almost the same time.
The Man Who Put His Face on the Coin
The man who put his own living face on a coin.
The Confrontation of Images
In the same decade, two empires gave opposite answers.
The Queens
The face of a real politician, not an idealised one.
The Empire of Debasement
Nero began it.
The Rediscovery of the Same Law
It was not Gresham who wrote, "Bad money drives out good.
Nominalism
“Money is what the state makes.
Japan's Debasement Debate
The one who debased it, the one who restored it, the one who debased it again, and the one who burned.
Counterfeit Coin and the Pursuer
Records survive from the counterfeiters and from those who hunted them.
The Life and Death of the Gold Standard
The gold standard was not born of nature.
Paper Burns
When a banknote becomes worthless paper, it is not the paper that is burning.
The Collectors
The people who collected them also have a story.
The Silver Road
Silver dug at Potosí passes through Manila and arrives in China.
The Unifiers
Alexander, the First Emperor of Qin, Charlemagne, Meiji.
Liberal arts — the neighbouring disciplines10
Philosophy, anthropology, literature, art history. Money seen from the disciplines next door.
Philosophy and Intellectual History of Coinage
This is the course that explains the origin of our school's name.
Anthropology of Money
The idea that 'money was born from barter' is not accepted in anthropology.
Money and Literature
The famine in Hojoki, the impeachment in Oritaku Shiba no Ki, the cattle of Homer.
Linguistics of Currency
Etymology is the fossil of currency before currency existed.
Coinage and Epidemics/Disasters
How did currency respond to external shocks?
Overview of Sister Disciplines
What lies next to numismatics?
Numismatics as Art History
We will not discuss market prices at all.
Cliometrics
This course seriously considers the question, "How much was a Roman soldier's annual salary in today's terms?
Money and State Theory
"Money circulates because the state demands it for taxes"—is this really true?
Monetary Theory in the Digital Age
We re-examine the question of what credit is, through the lens of two thousand seven hundred years of history.