Of the perhaps six million Americans who claim to "collect coins" only a couple dozen attend ANA seminars each year. Numismatists are autodidacts.
Hayek's Denationalisation of Money could have used some evidence. He relied on Murray Rothbard's monograph, What has Government Done to our Money? which delivered one anemic academic citation on tokens. Any active coin collector could deliver hundreds of examples of competing currencies, weak and strong, successful and disastrous.
New research continues. Whitman Publishing and Krause Publications release new titles every month. Their smaller competitors such as Stanton and Money Tree are active as well. Some of these standard references, known now for 100 years, are sirens - at once lures and warnings - for the limitations of academic economics.
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