They are quite different. Coin World is targeted at a much wider audience. It has much more current news and events. It also has a great deal more advertising, which is interesting to look at in it's own right.
The Numismatist has a longer production lead time, so there is not so much current info. The articles are more scholarly and more in depth in general. There is also a fair bit of ANA specific news in the Numismatist.
I suggest that you get your hands on a copy of each at the library or coin club meeting, then you will be able to see the difference.
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