The Cabinet of Numismatics (later the Fund of Numismatics), established in 1920 as a part of the Department of Archaeology, History and Ethnography of the Azerbaijan History Museum thanks to the hard work of Yevgeny Alexandrovich Pakhomov (1880-1965), soon became the richest fund of the History Museum.

The fund had a collection of 103 coins in the first years of its existence, 4,734 coins in 1928 and 16,728 coins in 1939. At the present time, it is a united numismatic center in the Republic, where about 100,000 coins are kept, studied, and promoted.

Coins found and minted in the territory of the Republic of Azerbaijan are the main part of the Fund. Coins belonging to the feudal states of Azerbaijan – the Shirvanshahs, the Sajids, the Salarids, the Shaddadids, the Ravvadids, Azerbaijani Atabegs, Kara Koyunlu and Agh Koyunlu states, the Safavids and Azerbaijani khanates are of special importance among them.

There are collections consisting of ancient and oriental coins, ancient Greek cities, Roman and Byzantine Empires, Hellenistic states (Seleucid, Parthian, Bactrian), Sassanids, Arab Caliphate, Seljuks, Ilkhanids, Jochi, Ottomans, Afshars, Gajars, Baburis and others. Coins were minted in the above-mentioned countries and found in the territory of Azerbaijan. There are also coins representing almost all countries of the world (Western Europe, Russia, India, China, etc.) in the Fund.

The formation and subsequent success of Azerbaijani numismatics as a science relates to the activity of Yevgeny Pakhomov, the founder and long-term conservator of the Numismatic Fund. It was under his leadership that the first, random coin findings discovered in the territory of Azerbaijan were placed in the Fund, registered, increased in number, researched, and published. Y. Pakhomov released more than 100 articles on the history, archaeology and numismatics of Azerbaijan, the publications named “Coin treasures of Azerbaijan and other republics, provinces and regions of the Caucasus”, “Georgian coins”, “Azerbaijani coins”.

Department of Numismatics and Epigraphy was created in the Museum by decision of Presidium of Academy of Sciences of Azerbaijan SSR in 1968 and Y. Pakhomov’s student, Ali Muhammad оglu Rajabli was appointed as a head of the Department and of the Numismatic Fund.

In addition to teaching at various educational institutions for more than 50 years, three PhD dissertations have been defended under the leadership of this scientist, who has scientific achievements and various awards. The students of the scientist Ph.D. in History, Associate Professor Sanuber Gasimova and Ph.D. in History Aygun Mammadova are currently the employees of the National Museum of History of Azerbaijan.

Works of researchers of the last century (A.Rahimov, K.Golenko, S.Mustafayeva, I.Babayev, L.Azimova, N.Sinitsina) were composed referring to the materials of the Numismatic Fund.

The materials of the Numismatic Fund were reflected in the articles and candidacy dissertations presented for defense by G.Pirguliyeva, A.Guliyev, T.Guliyev, S.Gasimova, A.Mammadova and others in Azerbaijan.

Since 1998, non-coin materials (stamps, orders, medals, cards, personal awards, etc.) have been selected from the Numismatic Fund and the Fund of Auxiliary Historical Materials has been established based on them.