Part 3 of 3

Glossary of Numismatic Terms

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Last updated 29 December 2004

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Acronyms used in Coin Collecting
Maintained and hosted by Clint Cummins

Part 1: What's It Worth?

Part 2: Collecting and Investing Topics

adjustment marks

Marks caused by filing a planchet before striking to reduce its weight to the standard, as was sometimes done for early U.S. coinage

album

A book-like holder with slots for storing coins

altered

Intentionally modified after the minting process, such as by changing the date or by adding or removing a mintmark, usually in an attempt to deceive collectors (example: 1944-D Lincoln cent altered to appear to be a much more valuable 1914-D)

ancient

A coin produced prior to about 500 A.D.

artificial toning

coloration added to a coin by treatment with chemicals or other "doctoring"

attribute

n. A characteristic of a coin;
v. To identify a coin by determining the country of origin, denomination, series, date, mintmark and (if applicable) variety

auction

An offering to sell an individual item or group of items in which the price is determined by the highest bidder, sometimes with a reserve (minimum) price

authentic/authentication

An original, non-counterfeit coin; determination by an expert on whether or not a coin is authentic

bag marks

Small scratches and nicks resulting from movement of coins in the same bag (also known as contact marks or keg marks)

bank note

Paper money issued by a bank

bar

A non-numismatic form of precious metal bullion

bas relief

Design elements are raised within depressions in the field

billon

An alloy of silver and another metal, usually copper, which is less than 50% silver

bi-metallic

A coin or coin-like object combining parts composed of two different metal alloys, such as the Canadian two dollar coin.

bit

Pieces of eight were physically cut into eighths; each piece is one bit

blank

A piece of metal being prepared for coinage before the rims have been raised by passing through the upsetting mill

bourse

A location where dealers buy and sell coins with each other and the public, such as at a coin show

broadstrike/broadstruck

A coin struck without a firmly seated collar, resulting in "spreading" outwards, but still showing all design details

brockage

A mirror image of the design from one side of a coin impressed on the opposite side - occasionally, a newly struck coin "sticks" to a die, causing the next coin struck to have a First Strike Mirror Brockage of the coin stuck to the die; by the second strike the mirror is distorted, and later strikes are termed Struck Through A Capped Die

bullion

A coin or other object composed primarily of a precious metal, with little or no value beyond that of the metal

Bureau of Engraving and Printing

An agency of the U.S. Treasury Department responsible for production of paper money

business strike

A coin struck for circulation

Canadian

Post confederation Canadian numismatics

cameo

A coin, usually struck as a Proof, with a frosted or satiny central device surrounded by a mirrorlike field

cartwheel

- The pattern of light reflected by flow lines of mint state coins, resembling spokes of a wheel;
- Name given to the British pennies and twopences of 1797 due to their unusually broad rims

- A U.S. silver dollar

certified coin

A coin authenticated and graded by a professional service

cherrypick

To find and purchase a coin worth a premium over the seller's asking price (generally a rare die variety priced as a more common variety)

chop mark

A symbol added to money by someone other than the government which issued it to indicate authenticity

circulating commemorative

A commemorative coin (see below) issued through the usual distribution channels as regular money, e.g. each of four U.S. five cent coin designs issued during 2004 and 2005. Non-circulating commemoratives are not released into circulation, but rather sold directly to collectors

circulated

Denotes money that is no longer in mint state, generally as a result of normal handling and exchange

clad

Composed of more than one layer, such as the copper-nickel over copper composition of U.S. dimes, quarters, and halves minted presently

clash mark(s)

Outlines and/or traces of designs from the opposite side of a coin resulting from die clash

cleaning

any process that removes foreign substances, corrosion or toning, e.g. application of solvents, dipping, and rubbing with abrasive materials or substances

cleaned coin

while any coin subjected to a cleaning process could technically be considered cleaned, this term most commonly refers to those which have been abrasively cleaned (a coin which has been abrasively cleaned generally has a lower numismatic value than an otherwise comparable uncleaned specimen)

clip

A coin, planchet or blank missing a portion of metal, caused by an error during blank production; types of clips include curved (most common), ragged, straight, eliptical, bowtie, disk and assay

clipping

Deliberate shearing or shaving from the edge of gold and silver coins; patterns and mottos are included on edges to discourage the practice

coin

A piece of metal with a distinctive stamp and of a fixed value and weight issued by a government and used as money (source: Webster's New World Dictionary)

coin show

An event where numismatic items are bought, sold, traded and often exhibited

collar

A device present in a coining press to restrict the outward flow of metal during striking and to put the design, if any, on the edge of the coin

collection

The numismatic holdings of an individual in total or of a particular type

colonial

- In general, a coin or token used in a colony
- In the United States, the term refers to coins and tokens struck during the colonial era by some of the colonies and by private manufacturers, as well as by the states during the first several years following the Declaration of Independence

colorized

indicates that paint, enamel or a color sticker has been applied after the minting process

commemorative

A coin with a design honoring or as a reminder of a specific person, place or event. Commemorative coins are normally struck for a limited period of time (several weeks to several years).

condition census

A list of the finest known specimens of a particular coin date and/or variety

contact marks

Small surface scratches or nicks resulting from movement of coins in the same bag or bin

counterfeit

- An imitation of a coin or note made to circulate as if actually money;
- An altered or non-genuine coin made to deceive collectors, usually a more valuable date or variety

cud

A raised lump of metal on a coin. Results from metal flow during striking into the space created when a piece of a die has broken off

cull

A coin that is extremely worn and/or damaged

cupro-nickel (or copper-nickel)

Composed of an alloy of copper and nickel, as for example U.S. 5 cent coins (other than half dimes) and Canadian 5 cent coins produced since 1982.

currency

Paper money

damage

Physical change to a numismatic item, such as a scratch, nick, ding, cleaning, hole or pitting

date

The year(s) shown on a coin, usually the same as the year it was minted

dealer

A person or company that regularly buys and sells numismatic collectibles

deep mirror prooflike (DMPL)

Having highly reflective mirrorlike fields, similar to a coin struck as a Proof

delamination

Metal missing or retained but peeling from the surface due to incomplete bonding or impurities in the planchet

denarius

An ancient Roman silver coin weighing about 3 grams, roughly the same size as a U.S. dime but thicker

denomination

The face value of a coin

denticles

Tooth like raised features just inside the rim of some coins (also known as dentils)

design

The devices, lettering, etc. appearing on a coin and their arrangement with respect to each other

designer

The creator of a coin design

device

A major design element, such as the bust of a person

die

A usually cylindrical piece of steel bearing at one end the incuse design of one side of a coin (except for coins with incuse detail, where the die details are in relief)

die chip

A small fragment broken off from a die; metal flowing into the resulting hole during striking results in a small raised lump on the surface of the coin

die clash

Upper and lower dies coming together in a coin press without a planchet between them; design details may be partially impressed in the opposite dies and subsequently as mirror images on coins struck from the clashed dies.

die crack

A narrow fissure in the surface of a die; coins struck with such a die have a narrow raised line corresponding to the crack

die erosion

Wear on a die from use in the minting process

die flow lines

see flow lines

die state

The condition of a die at a particular point in its life

die polish

Small raised lines in the field of a coin resulting from polishing of a die to remove chips, clash marks, etc.

dipping

Cleaning by immersion in a liquid capable of removing molecules from the surface, such as a solution containing thiourea

disme

The original spelling of dime, 1/10 of a dollar

double denomination

A rare error in which a previously struck coin is restruck by the die pair of another denomination

double die

A dubious term sometimes intended to mean a doubled die coin and sometimes indicating machine doubling (because there is often a substantial difference in value between the two, a savvy buyer will be sure to determine which case is true for any coin described as such)

doubled die

- A die with doubled device details, letters and/or numerals resulting from any of several possible differences between the multiple hub impressions during its manufacture

- A coin struck from such a die

double eagle

A U.S. gold coin with a face value of $20, first minted in 1849 and last minted in 1933

drachma

An ancient Greek silver coin weighing about 3 grams, roughly the same size as U.S. dime but thicker

eagle

- A U.S. gold coin with a face value of $10, first minted in 1795 and last minted in 1933

- The U.S. $50 face value gold bullion coin minted from 1986 to present.

edge

The "third side" of a coin, encompassing the perimeter

E Pluribus Unum

"Out of many, one"; the motto on many U.S. coins

engraver

a person responsible for creating dies with specific designs

error

- Any unintentional deviation in the minting process resulting in one or more coins with different characteristics than intended

- A coin produced by such an unintentional deviation

exergue

The lower part of a coin or medal, usually divided from the field by a line and often containing the date, mintmark or engraver's initial(s).

exonumia

Tokens, medals and other non-monetary coin-like objects

eye appeal

Overall attractiveness (beauty is in the eye of the beholder)

face value

The ordinary monetary worth of a coin or note at the time of issue

field

The flat background on a coin, medal or token

fishscale

- Canadian 5 cents silver;
- U.S. 3 cent silver coin

flan

British term for a planchet

flip

A pliable clear plastic holder normally used for a single coin

flow lines

Microscopic lines in the surface of a coin resulting from the outward flow of metal during striking

fiat money

Money that is not backed by specie and is legal tender by decree

fractional currency

Paper money with a face value of less than one dollar

fugio cent

The first coin issued by authority of the United States, produced by contractors in 1787

galvano

An epoxy coated plaster relief model of a coin, token or medal created by electrodeposition (much larger than the dies later created from it)

grade

A term summarizing the overall condition of a coin or other numismatic item

grading

The process of evaluation leading to assignment of a grade (see detailed discussion in Part 2)

Greysheet

the Coin Dealer Newsletter, a price guide for U.S. coins reflecting typical market prices for dealer-to-dealer sight seen transactions

hairlines

Light scratches in the surface of a coin

half cent

A U.S. coin with a face value of 1/200th of a dollar first minted in 1793 and last minted in 1857

half dime

A U.S. coin with a face value of 5 cents issued with dates between 1794 and 1873; originally called a half disme

half eagle

A U.S. gold coin with a face value of $5 first minted in 1795 and last minted in 1929

hobo nickel

A coin (usually a U.S. Buffalo nickel) carved or otherwise modified into a substantially different design

holed

Having a hole drilled or punched through it, often so that it may be used for jewelry

holder

Any device designed for storage and sometimes display of numismatic items

hub

A steel bar used to make dies having the same raised design on one end as one side of the coins ultimately produced

impaired proof

A proof coin with wear or damage resulting from circulation or other handling

incuse

The opposite of relief -- design elements are impressed into the surface

Indian Peace Medals

Medals presented to native Americans by European governments, fur trading companies, Quakers, and, later, by US government representatives, as a show of friendship and peace.

key date

Among the scarcest (and therefore most expensive) members of a coin series, e.g. the 1909-S VDB Lincoln cent or 1916-D Mercury dime

Krause

A numismatic publishing company (Krause Publications); this company's Standard Catalog of World Coins

lamination flaw

See delamination

large cent

- A U.S. coin with a value of 1 cent, minted from 1793 to 1857, composed primarily of copper and larger in diameter than the current U.S. quarter
- A similar Canadian coin issued 1858-1920

legal tender

Money that may be legally offered in payment of an obligation and that a creditor must accept (source: Webster's New World Dictionary)

legend

Lettering on a coin other than the denomination or nation which issued it

loonie

Popular name for the Canadian loon dollar coin first issued in 1987

loupe

A type of magnifying glass used by numismatists and jewelers

luster

The brilliance of a coin, resulting from reflection of light off die flow lines

machine doubling

Doubling of details resulting from loose dies during the minting process (generally considered to have no numismatic value)

mail bid

An auction format in which bids are submitted by mail; the highest offer for each lot received by the closing date wins the lot (several other rules usually apply)

matte proof

A proof coin with a granular (rather than mirrorlike) surface produced by dies treated to obtain a minutely etched surface

medal

A coin-like object struck to honor one or more persons or events depicted or mentioned in its design; an object awarded to persons in recognition of service or other accomplishment

melt/melt value

The worth of precious metal in a coin, determined by multiplying the amount of the metal it contains by the spot price of the metal

mint

A facility for manufacturing coins

mintage

The quantity of a denomination of coins produced at a mint during a period of time (usually one year)

mint bloom

The original surface of a newly minted coin

mintmark

A letter or symbol designating the mint which produced the item bearing it

mint set

A specially packaged group of uncirculated coins from one or more mints of the same nation containing at least one coin for most or all of the denominations issued during a particular year

mint state

In the same condition as when delivered from the mint (natural toning excepted); uncirculated

misplaced date

One or more digits of a date punched away from the intended location, such as in the denticles or in the central design

motto

A phrase imprinted on a coin, for most U.S. coins "E PLURIBUS UNUM"

mule

A coin struck from two dies not intended to be used together

multiple strike

A coin struck more than once as a result of not being properly ejected from the coining press

natural toning

Coloration resulting from chemical change on the surface during normal environmental exposure over a prolonged period

net price

A term signifying that the seller is unwilling to sell for less than the price marked

numismatics

The collection and study of coins, tokens, medals, paper money and other objects exchanged for goods and services or manufactured by similar methods (see detailed discussion in Part 2)

numismatist

A person who collects and/or studies numismatic items

obol

A small silver coin of ancient Greece, originally a day's wages for a rower on a galley or a citizen on jury duty.

obverse

The front or "heads" side of a coin, often bearing a portrait and date

off center

Incorrectly centered during striking, resulting in part of the design missing (off the edge)

original/original toning

Having natural surfaces resulting from long exposure to ordinary environmental conditions; uncleaned

overdate

A coin struck from a die with at least one digit of the date repunched over a different digit, e.g. 1809/6 or 1942/1.

overgraded

Designated with a higher grade than merited

over mintmark

One mintmark on top of a different mintmark, such as a 'D' over an 'S' (denoted D/S)

paper money

Paper notes with standardized characteristics issued as money

paranumismatica

British term for exonumia

patina

A thin layer of naturally oxidized metal on the surface of a coin acquired with age

pattern

A test piece for a new design, sometimes without a date

pick up point

An area where a feature, such as die doubling, is most evident

piece of eight

A former Spanish coin with a face value of eight reales; the U.S. dollar was originally valued at and tied to eight reales

pitted

Having a rough surface due to loss of metal by corrosion

planchet

A piece of metal prepared for coinage with raised rims but as yet unstruck

plugged

Denotes that a holed coin has been filled

porous

Having a granular surface as the result of oxidation, most frequently found with older copper coins

prestige set

A set of coins produced by the U.S. Mint from 1983-84 and 1986-97 containing one or more proof commemorative coins released in the same year, as well as a proof cent, nickel, dime, quarter and half

problem coin

Any coin that has been cleaned or damaged or has other undesirable characteristics

proof

A coin specially manufactured to have extra sharp detail, mirrorlike fields and sometimes frosted or "cameo" devices, produced for sale to collectors at a premium or for exhibition or presentation

prooflike

Having mirrorlike fields, similar to a coin struck as a Proof

proof like

A coin specially manufactured by the Royal Canadian Mint with mirror fields

proof set

A specially packaged group of coins containing at least one of most or all of the denominations of proof coins struck by a nation in a particular year

quarter eagle

A U.S. gold coin with a face value of $2.50 first minted in 1796 and last minted in 1929

rarity

- An infrequently encountered or available item

- The number of known surviving specimens of a particular issue, as may be indicated by a rarity scale index

rarity scale

A system for designating the relative number of specimens known to exist. The two most commonly used in numismatics are Sheldon's scale (ranging from R1 for common pieces to R8 for those that are unique or nearly so) and the Universal Rarity Scale developed by Q. David Bowers (with the lower designations, such as URS1, indicating greater rarity and higher numbers for more common items).

raw

Not certified as authentic, graded and encapsulated in a sealed hard plastic holder by an independent service

real

A former basic monetary unit of Spain and Spanish colonies in the Americas

Red Book

A Guide Book of U.S. Coins, a retail price guide for U.S. coins published annually, originally written by R.S. Yeoman

reeded edge

An edge with raised parallel lines, a.k.a. milled or grained

relief

Features rising above the field

repunched date

A date with one or more of the digits punched more than once in different locations and/or orientations

repunched mintmark (RPM)

A mintmark punched more than once in different locations and/or orientations

restrike

A coin struck with authentic dies later than the date it bears

reverse

The back or "tails" side of a coin

rim

The outer edge of a coin, often raised to avoid premature wear

round

A disc shaped piece of precious metal bullion

scrip

A note issued by and redeemable at a merchant or group of merchants

series

Coins of the same major design and denomination, including every combination of date and mintmark minted, e.g. Morgan dollars

Sheldon scale

A numerical grading system ranging from 1 to 70 created by Dr. William H. Sheldon to denote proportional values of large cents minted from 1793 to 1814 and subsequently adaped as a general grading scale

shinplaster

Canadian fractional banknotes

sight seen

Available for examination to a potential buyer before a purchase decision is made

sight unseen

Not available for examination to a potential buyer before a purchase decision is made, as is usually the case with mail order transactions

silver certificate

A note (paper money) once redeemable for its face value in silver

silver clad

A clad coin with one layer containing silver, such as U.S. halves struck from 1965 to 1970

silver eagle

A coin produced by the U.S. mint beginning in 1986 containing one ounce of silver and having a nominal face value of $1 (not released for circulation)

slab

A coin certified by a professional grading service as authentic and encapsulated in a sealed hard plastic holder also containing a label bearing the service's opinion of its grade and other information (see detailed discussion in Part 2)

slider

A coin with very slight traces of wear, such that it almost passes for an uncirculated specimen

specie

Precious metal (usually gold and silver)

split grade

Different grades for the obverse and reverse sides

spot

- Short for spot price;
- A small area of corrosion or foreign substance

spot price

The market price for immediate delivery of a commodity, such as a precious metal

spread

- The difference between buy and sell prices for the same item(s) of a dealer, broker, etc.
- The extent of separation between impressions on a doubled die.

stella

A U.S. gold coin pattern with a face value of $4 minted in 1879 and 1880

striations

Incuse marks caused by rolling bars during planchet production

strike

- The process of impressing the design from a die into a planchet to make a coin, token or medal
- The degree to which details are transfered during this process (as in weak strike, full strike, etc.)

strike doubling

See machine doubling

territorial gold coins

pieces of various shapes, denominations and intrinsic worth privately struck in the general area of recently discovered gold deposits for the needs of local commerce

tetradrachma

An ancient Greek silver coin weighing about 13 to 17 grams, roughly the same size as a U.S. quarter but three times thicker

thumbing

The rubbing of skin oil onto a coin in an attempt to hide contact marks

token

- A coin-like object redeemable for a particular product or service, such as transportation on a bus or subway

- An unofficial coin issued by a business or local government to be used as small change, e.g., in 17th-19th century Britain, and in France during the 20th century

toning

Color acquired from chemical change on the surface

trade dollar

- A U.S. coin with a face value of $1 minted from 1873 through 1885 specifically for commerce in the Orient
- A U.K. coin with a face value of $1 minted from 1895 through 1935 specifically for commerce in the Orient

trime

A U.S. coin with a face value of 3 cents minted in predominantly silver alloys from 1851-1873

tube

A plastic container designed for storing a roll or other quantity of coins of the same size

type coin

Any coin of a particular design and denomination, usually one of the more common dates

type set

A collection of coins of various designs; rather than try to complete the series, the goal of the type collector is to obtain at least one example of several different types

uncirculated

Never circulated; without any wear

VAM

Any variety of U.S. silver dollar described in the book Morgan and Peace Dollars by Van Allen and Mallis.

variety

Any coin struck from a die pair that differs from others with the same date and mintmark, such as one exhibiting die doubling, different style letters or numerals, or a repunched mintmark

want list

A tabulation of collectibles sought by a collector, often including requirements for condition and/or price

water mark

A design put into paper at the manufacuring stage by pressing it while wet between rollers bearing the design

wear

Metal lost during handling and contact with other objects

whizzing

Alteration by mechanical polishing to produce a shiny surface

world coins

Coins issued by various nations, as in a collection comprised of coins thereof

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