Alloy: A mixture of two or more metals
American Numismatic Association (ANA): nonprofit educational organization that encourages the study of money throughout the world.
Annealing: Heating blanks (planchets) in a furnace that softens the metal
Assay: To analyze and determine the purity of metal
Bag Mark: A mark on a coin from contact with other coins in a mint bag
Bi-Metallic: A coin comprised of two different metals, bonded together
Blank: Another word for planchet, the blank piece of metal on which a coin design is stamped
Bullion: Platinum, gold or silver in the form of bars or other storage shapes, including coins and ingots
Bullion Coin: Precious metal coin traded at current bullion prices
Business Strike: A coin produced for general circulation (as opposed to a proof or uncirculated coin specially made for collectors)
Bust: A portrait on a coin, usually including the head, neck and upper shoulders
Clad Coinage: Coins that have a core and outer layer made of different metals. Since 1965, all circulating U.S. dimes, quarters, half dollars, and dollars have been clad
Coin: Flat piece of metal issued by the government as money
Collar: A metal piece that restrains the expanding metal of a planchet during striking
Commemorative: A special coin or medal issued to honor an outstanding person, place, or event
Condition: The physical state of a coin
Counterfeit: A fake coin or other piece of currency made so that people will think it’s genuine
Currency: Any kind of money – coins or paper money – that’s used as a medium of exchange
Denomination: The different values of money
Die: An engraved stamp used for impressing a design (images, value, and mottoes) upon a blank piece of metal to make a coin
Designer: The artist who creates a coin’s design (but doesn’t necessarily engrave the design into a coinage die)
Edge: The outer border of a coin, considered the “third side” (not to be confused with “rim“)
Engraver: An artist who sculpts a clay model of a coin’s design in bas relief
Error: An improperly produced coin, overlooked in production, and later released into circulation
Face Value: The sum for which a coin can be spent or exchanged (a dime’s face value is 10¢) as opposed to its collector or precious metal value
Field: The portion of a coin’s surface not used for design or inscription
Grade: Rating which indicates how much a coin has worn from circulation
Hairlines: Tiny lines or scratches on coins, usually caused by cleaning or polishing
Incuse: Opposite of relief, the part of a coin’s design that is pressed into the surface
Ingot: Metal cast into a particular shape; used in making coins
Inscription: Words stamped on a coin or medal
Intrinsic Value (Bullion Value): Current market value of the precious metal in a coin
Key Date: A scarce date required to complete a collection, usually more difficult to find and afford
Hairlines: Tiny lines or scratches on coins, usually caused by cleaning or polishing
Incuse: Opposite of relief, the part of a coin’s design that is pressed into the surface
Ingot: Metal cast into a particular shape; used in making coins
Inscription: Words stamped on a coin or medal
Intrinsic Value (Bullion Value): Current market value of the precious metal in a coin
Key Date: A scarce date required to complete a collection, usually more difficult to find and afford
Legal Tender: Coins, dollar bills or other currency issued by a government as official money
Legend: Principal lettering on a coin
Medal: A metal object resembling a coin issued to recognize an event, place, person or group, with no stated value and not intended to circulate as money
Medium of Exchange: Anything that people agree has a certain value
Mint: A place where coins of a country are manufactured under government authority
Mint Luster: The dull, frosty, or satiny shine found on uncirculated coins
Mint Mark: A small letter on a coin identifying which of the United States Mint’s facilities struck the coin
Mint Set: A complete set of coins of each denomination produced by a particular mint
Mint State: Same as uncirculated
Mintage: The quantity of coins produced
Motto: A word, sentence or phrase inscribed on a coin to express a guiding national principle, such as, “E Pluribus Unum” inscribed on all U.S. circulating coins is Latin for “out of many, one”
Mylar®: Trademark for a polyester film used to store coins.
NGC or Numismatic Guaranty Corporation: Look at Numismatic Guaranty Corporation
Numismatics: The study and collecting of things that are used as money, including coins, tokens, paper bills, and medals
Numismatic Guaranty Corporation or NGC : A privately owned, international coin certification service based in Sarasota, Florida. It has certified more than 35 million coins. NGC certification consists of authentication, grading, attribution, and encapsulation in clear plastic holders.
Obsolete: A coin design or type that is no longer produced
Obverse: The front (or “heads”) side of a coin
Off-Center: Describes a coin that has received misaligned strike from the coin press and has portions of its design missing
Overstrike: A new coin produced with a previously struck coin used as the planchet
Pattern: An experimental or trial piece, generally of a new design or metal
PCGS: Look up Professional Coin Grading Service
Professional Coin Grading Service or PCGS: A coin grading, authentication, attribution, and encapsulation service founded in 1985.
Planchet: The blank piece of metal on which a coin design is stamped
Proof: A specially produced coin made from highly polished planchets and dies and often struck more than once to accent the design. Proof coins receive the highest quality strike possible and can be distinguished by their mirror-like background and frosted foreground.
Proof Set: A complete set of proof coins of each denomination made in a year
Relief: The part of a coin’s design that is raised above the surface, opposite of incuse
Restrike: A coin that is minted using the original dies but at a later date
Reverse: The back (or “tails”) side of a coin
Riddler: A machine that screens out blanks (planchets) that are the wrong size or shape
Rim: The raised edge on both sides of a coin (created by the upsetting mill) that helps protect the coin’s design from wear
Roll: Coins packaged by banks, dealers or the United States Mint.
Series: A collection of coins that contains all date and mint marks of a specific design and denomination
Slab: Nickname for some protective coin encapsulation methods, especially those that are permanently sealed and rectangular
Strike: The process of stamping a coin blank with a design. The strength of the imprint – full, average, or weak – affects the value of rare coins.
Type Set: A collection of coins based on denomination
Uncirculated: The term “uncirculated” may have three different meanings when applied to a coin:
- It can refer to the particular manufacturing process by which a coin is made
- It can be used as a grade when referring to a coin’s degree of preservation and quality of the strike
- It can point to the fact that a coin has not been used in everyday commerce
At the United States Mint, the term uncirculated refers to the special coining process used to make the coin, which gives it a brilliant finish. Uncirculated coins are manufactured using the same process as circulating coins, but with quality enhancements such as slightly higher coining force, early strikes from dies, special cleaning after stamping, and special packaging. Uncirculated coins may vary to some degree because of blemishes, toning, or slight imperfections.
Upsetting Mill: A machine that raises the rim on both sides of a blank (planchet)
Variety: A minor change from the basic design type of a coin
Year Set: A collection of all coins issued by a country for any one year (does not necessarily include every mint mark)