Coin Collecting Glossary

Coin collecting is a fascinating and rewarding hobby that has captivated people for centuries. For beginners, however, the world of numismatics (the study or collection of currency) can seem daunting due to the unique terminology and jargon used by enthusiasts and professionals alike. Understanding these terms is essential for any novice collector, as they form the foundation for engaging with the community, purchasing and selling coins, and appreciating the history and artistry behind each piece. This article provides a comprehensive glossary of basic coin collecting terms, helping beginners navigate the intriguing world of coins.

Alloy: A mixture of metals used to create a coin. Alloys are chosen for their durability, resistance to wear, and desired appearance. Common alloys include copper-nickel and bronze.

Alloy Coinage: A coin made from a combination of metals rather than a single pure metal.

Almost Uncirculated (AU): A coin that shows very minimal signs of wear, typically on the highest points. These coins retain much of their original mint luster and have a high grade, usually ranging from AU-50 to AU-58.

Altered: A coin tampered with in some way, such as being cleaned, tooled, or otherwise modified. Alterations are often made to deceive collectors or improve the coin's appearance, and they can negatively impact the coin's value.

Artificial Toning: The deliberate application of chemicals or heat to a coin's surface to create colors or patterns that mimic natural toning. This practice is often frowned upon as it can mislead collectors about a coin's age or condition.

Ancient Coin: A coin minted in ancient civilizations, such as Greek, Roman, or Byzantine empires. These coins are often studied for their historical and artistic significance.

Assay: The process of testing the purity and composition of a metal, such as gold or silver. In coin collecting, an assay may be performed to verify the metal content of a coin, especially for bullion coins.

Bag Mark: A small nick or scratch found on a coin, typically caused by contact with other coins in a bag during shipping or storage. Bag marks are common on uncirculated coins and can affect their grade.

Base Metal: Non-precious metals, such as copper, nickel, or zinc, commonly used in coinage. Base metals are often used for lower-denomination coins or to provide durability in circulation coins.

Beading: The small, raised dots or circles found around the edge of a coin's design, often used as a border or decorative element.

Bi-Metallic: A coin composed of two different metals, typically arranged with an inner core and an outer ring.

Blank: A plain, unstruck piece of metal prepared for coinage. It is also known as a planchet and is the piece onto which the coin design is struck.

Brass: An alloy of copper and zinc, often used in coinage. Brass coins have a distinct yellowish color and are durable, making them suitable for circulation.

Brilliant Uncirculated (BU): A coin that has never been used in circulation and retains its original mint luster. BU coins are typically free from wear and handling marks.

Bronze: An alloy of copper and tin, often used in coinage. Bronze coins have a distinctive reddish-brown color and have been used throughout history.

Bullion: Precious metals, such as gold, silver, platinum, or palladium, in the form of coins, bars, or ingots.

Bullion Coin: A coin made from precious metals like gold, silver, platinum, or palladium and is primarily valued for its metal content. Common examples include the American Gold Eagle and the Canadian Silver Maple Leaf. Bullion coins are often collected for their investment potential.

Bust: A portrait or image of a person, usually from the shoulders up, that appears on the obverse of a coin. Busts are common on coins featuring historical figures, rulers, or national leaders.

Cabinet Friction: The light wear or rubbing that occurs on a coin stored in a drawer or cabinet. This type of wear is often found on proof or high-grade coins and can affect their grade and value.

Cameo: A coin that features a frosted design contrasting with a mirrored background, often seen on proof coins. The effect is achieved by using specially prepared dies and polished planchets.

Certified Coins: Coins that have been authenticated and graded by a professional grading service. Certified coins are encapsulated in slabs, which provide a tamper-evident seal and include a label with the coin's grade and other pertinent information.

Cast Coin: A coin produced by pouring molten metal into a mold rather than striking a planchet with dies. This method was commonly used in ancient times and for some modern tokens or medals.

Circulated: A coin that has been used in commerce and shows varying degrees of wear from handling. Circulated coins are graded based on the extent of wear and their condition.

Clad Coin: A coin that consists of a core of one metal and an outer layer of another, typically copper-nickel. Clad coins are common in modern currency and are used for durability and cost efficiency. The United States quarter is an example of a clad coin.

Coin Roll: A cylindrical container, often made of paper or plastic, used to hold a specific number of coins of the same denomination. Coin rolls are commonly used by banks and collectors to store and transport coins.

Collar: A metal ring that holds a coin planchet in place during the striking process, helping to form the coin's edge and prevent metal flow. The collar can impart reeding or other edge features.

Commemorative Coin: A coin issued to honor a specific event, person, or theme. These coins are often limited in mintage and can be collectible due to their historical significance.

Common Date: Coins that are more readily available within a particular series and are generally less valuable. Common date coins are often produced in large quantities and lack the rarity of key date coins.

Condition: The overall state of preservation and quality of a coin. It includes factors such as wear, luster, and any damage or alterations. The condition is a critical factor in determining a coin's value.

Copper-Nickel (Cu-Ni): Also known as cupronickel is a common alloy used in modern coinage, consisting of copper and nickel. It is durable and resistant to corrosion, making it ideal for circulation coins.

Counterfeit: An unauthorized reproduction made to deceive collectors, merchants, or others into believing it is genuine. Counterfeit coins can be made from different materials or using different techniques than the originals.

Counterstamp: A mark or symbol added to a coin after it has been minted. This can include official government marks or unofficial marks added for various purposes, such as advertising or commemoration.

Denomination: The face value of a coin, such as one rupee, five cents, two dollars, ten baht, etc. This value is distinct from the coin's collectible or intrinsic value, which may be much higher depending on factors like rarity, condition, and demand.

Designer: The artist or individual responsible for creating the design of a coin. The designer's initials may sometimes appear on the coin as a mark of their work.

Die: The metal stamp used to imprint a design onto a planchet to create a coin. Coins are struck using two dies: the obverse die and the reverse die.

Die Crack: A raised line on a coin's surface, caused by a crack in the die used to strike the coin. Die cracks are considered mint errors and can sometimes increase a coin's value.

Die Variety: A variation in a coin's design resulting from differences in the dies used during production. This can include changes in date placement, mintmark size, or other design elements.

Double Die: A coin struck more than once by the same die, resulting in doubled images, letters, or numbers. This error is highly collectible and can significantly increase a coin's value.

Edge: The outer rim that runs around the perimeter. Coin edges can be plain, reeded (with ridges), lettered, or decorated. The edge design can help prevent counterfeiting and differentiate coins of the same denomination.

Electrum: A naturally occurring alloy of gold and silver, used in ancient coinage. It has a pale yellow appearance and was valued for its rarity and metal content.

Encapsulation: The process of sealing a coin in a protective plastic holder, often by a third-party grading service. This holder, also known as a slab, protects the coin from damage and provides information about its grade and authenticity.

Engraver: A person who carves or engraves the design into the dies used to strike coins.

Error Coin: A coin that has been misstruck or has a flaw due to a mistake during the minting process. These can include off-center strikes, double strikes, clipped planchets, or other anomalies. Error coins can be valuable and are often collected for their uniqueness.

Essai: A trial or test strike of a coin, often used to evaluate a new design or composition. Essai coins are similar to pattern coins and are usually not intended for circulation.

Exergue: A space on a coin, typically below the main design, where inscriptions, dates, or other information may be placed. It is often separated from the main design by a line.

Exonumia: The study and collection of coin-like objects that are not legal tender, such as tokens, medals, and scrip. Exonumia items often have historical or cultural significance and are a popular area of interest for collectors.

Extremely Fine (EF or XF): A coin grade where the coin shows only slight wear on the highest points. The details are sharp, and much of the original luster may remain.

Eye Appeal: The visual attractiveness of a coin, considering factors like color, luster, and overall appearance. Even if a coin is technically graded lower, strong eye appeal can increase its desirability and value.

Face Value: The nominal value of a coin as stated on its surface. For example, a quarter has a face value of 25 cents.

Field: The flat, background area of a coin that surrounds the raised design elements like the portrait, inscriptions, and date. A clean, unblemished field is often a sign of a high-quality coin, as scratches, marks, or blemishes can detract from its overall appearance and grade.

Fine (F): A coin grade indicating moderate wear over the entire coin, with major design elements still visible but lacking finer details. The coin may have a worn appearance but is still collectible.

Fineness: The purity of the metal in a coin, often expressed as a decimal or percentage. For example, a gold coin with a fineness of .900 contains 90% gold and 10% other metals. Fineness is a crucial factor in determining a coin's intrinsic value.

Fleur de Coin (FDC): A term used to describe a coin in perfect condition, without any signs of wear or handling. It is the highest grade and is often applied to uncirculated or proof coins.

Good (G): A lower coin grade where the coin shows significant wear, with the design being mostly worn away. The coin's features are still recognizable, but the finer details are missing.

Grading: Coin grading is the process of assessing a coin's condition and assigning it a grade based on established standards. The most widely used grading scale is the Sheldon Scale, which ranges from 1 (poor) to 70 (perfect). The grade of a coin can significantly impact its value, making it crucial for collectors to understand grading standards.

Grading Service: A professional organization that assesses the condition and authenticity of coins, assigns a grade, and encapsulates the coin in a protective holder.

Hairlines: Fine scratches on a coin's surface, often caused by improper cleaning, handling, or storage. Hairlines can affect a coin's grade and value, especially on proof or high-grade coins.

Hub: A master die used to create working dies that strike coins. The hub contains the positive image of the coin's design, which is then impressed onto the working dies. This process ensures consistency in the design across multiple coins.

Incuse: A design element that is sunken into the surface of the coin, as opposed to being raised. Incuse designs can include inscriptions, dates, or other details.

Inscription: Any lettering or writing on a coin, such as a date, motto, or denomination. Inscriptions provide important information about the coin's origin and purpose.

Intrinsic Value: The value of the metal content in a coin. For bullion coins, the intrinsic value is often higher than the face value, especially for coins made from precious metals like gold or silver.

Key Date: A coin that is rare or highly sought after within a particular series. Key date coins are often produced in smaller quantities or have unique characteristics that make them more valuable.

Lamination: A mint error where a layer of metal on the coin's surface peels or flakes off, exposing the underlying metal. This error is often due to impurities in the metal or improper rolling of the planchet.

Legend: The inscription on a coin that often includes the name of the issuing authority (such as a country or monarch) and other important information. Legends are typically found around the edges of a coin's obverse or reverse.

Lettered Edge: An edge with inscriptions or designs engraved into the edge of the coin. This feature can include mottos, dates, or other information.

Luster: The way light reflects off the surface of a coin. A coin with good luster will appear bright and shiny, while a coin with poor luster may look dull. Luster is an important factor in grading, as it indicates the quality of a coin's surface and the level of wear it has experienced.

Master Die: The original die used to produce working dies for coin production. The master die contains the coin's design in positive relief and is used to create multiple working dies.

Medal: A round or oval piece, often resembling a coin, struck to commemorate an event, person, or achievement. Unlike coins, medals are not intended for circulation and usually have no denomination.

Mint: The facility where coins are produced. In the United States, for example, coins are minted at facilities in Philadelphia, Denver, San Francisco, and West Point.

Mint Error: An unintentional flaw or mistake that occurs during the minting process. Examples include off-center strikes, die cracks, and planchet errors. Mint errors are often collectible due to their rarity and uniqueness.

Mint Sets: Collections of uncirculated coins, usually including one coin of each denomination minted in a particular year.

Mint State (MS): A coin that has never been circulated and shows no signs of wear. Mint State coins or uncirculated coins are graded on a scale from MS-60 to MS-70, with higher numbers indicating a higher quality.

Mintmark: A small letter or symbol on a coin that identifies the mint where it was produced. This could vary by country or minting period. US coins, for instance, "P" for Philadelphia, "D" for Denver, and "S" for San Francisco. Mintmarks can significantly affect a coin's value, as some mints produce fewer coins than others.

Mintage: The total number of coins produced by a mint for a particular issue. A coin's mintage can influence its rarity and value; generally, lower mintage numbers mean higher rarity and potentially greater value.

Mule: A mint error where the obverse and reverse designs of a coin do not match the standard pairing. Mules are rare and highly collectible due to their unusual nature.

Numismatics: The study or collection of currency, including coins, tokens, paper money, and medals. Numismatics encompasses the analysis of the historical, cultural, and economic aspects of currency.

Numismatist: A person who studies or collects coins, paper money, and related items. Numismatists may focus on specific areas, such as ancient coins, world coins, or modern coinage.

Obsolete Coin: A coin no longer produced or used as legal tender. These coins often have historical value and can be of interest to collectors.

Obverse: The front side of a coin, typically featuring the principal design, such as a portrait, national emblem, or other significant imagery. It is commonly referred to as the "heads" side.

Off-Center Strike: A coin not properly aligned with the dies during striking, resulting in a design that is not centered on the coin. The degree of off-centering can vary, and such errors are often sought after by collectors.

Original Toning: The natural color and surface patina that develops on a coin over time due to exposure to air and environmental factors. Original toning is often preferred by collectors, as it indicates that the coin has not been cleaned or altered.

Overdate: This occurs when a coin is struck with a die that has a date corrected by engraving a new date over an old one. This results in both dates being partially visible. Overdates are collectible due to their uniqueness and rarity.

Overstrike: A coin struck more than once, either with the same or different designs. This can result in a doubling or overlapping of design elements and is often seen in error coins.

Oxidation: A chemical reaction between a metal and oxygen, resulting in a surface layer of oxide. In coin collecting, oxidation can lead to toning, patina, or corrosion, depending on the metal and environmental conditions.

Patina: The natural surface layer that forms on a coin over time due to exposure to air and other elements. Patina can protect the coin from further corrosion and is often seen as a desirable feature in older coins.

Pattern Coin: A prototype coin created to test a new design, composition, or denomination. These coins are not intended for circulation and are often rare.

Piedfort: A coin struck on a thicker-than-normal planchet, often for collectors. Piedfort coins are typically heavier and more substantial than regular issues.

Plain Edge: An edge that is smooth and lacks any ridges, lettering, or designs. It is often found on lower-denomination coins or specific commemorative issues.

Planchet: A blank piece of metal that is stamped to create a coin. Planchets are carefully cut to the proper size and weight before being struck by the dies. The quality of the planchet can affect the overall quality of the coin.

Planchet Error: An error that occurs when a coin is struck on an improperly prepared or damaged planchet. Examples of planchet errors include wrong metal composition, cracks, or laminations (where layers of metal separate).

Poor (P): The lowest coin grade, indicating a coin that is heavily worn and may be barely recognizable. Most of the design elements are worn away, and the coin may have significant damage.

Portrait: A detailed representation of a person's face and upper body, often used interchangeably with "bust." Portraits on coins serve to honor or commemorate important individuals.

Presentation Piece: A specially struck coin or set presented as a gift or award. These pieces often have unique designs, finishes, or packaging and can be highly collectible.

Privy Mark: A small, distinctive symbol added to a coin's design for special editions or to commemorate events. Privy marks are often used for collector coins and can add value.

Prooflike: Coins that have a mirror-like finish similar to proof coins but were struck for circulation. These coins may have reflective surfaces and sharp details, making them desirable for collectors.

Proof: A type of coin struck with special dies to produce a highly polished, mirror-like finish. Proof coins are usually made in limited quantities for collectors and are not intended for general circulation.

Proof Sets: Collections of proof coins, usually including one coin of each denomination minted in a particular year. Proof sets are made with a high-quality finish and are typically packaged in protective cases.

Raw: A coin that has not been professionally graded or encapsulated by a third-party grading service. Raw coins are often bought and sold based on the buyer's and seller's judgment of their condition.

Red, Red-Brown, and Brown: These terms describe the color and toning of copper coins. "Red" indicates a coin with a bright copper color, "Red-Brown" refers to a mix of red and brown tones, and "Brown" describes a coin with a fully brown patina. The color can affect a coin's grade and value.

Reeded Edge: An edge that has small, raised ridges around the coin's circumference, typically used as a security feature to deter counterfeiting and clipping (the shaving off of small amounts of metal).

Relief: The raised design elements on a coin's surface. High relief refers to designs that are more prominently raised from the coin's surface, while low relief has a subtler elevation.

Replica: A reproduction of a coin, often made from different materials or with different methods than the original. Replicas are sometimes created for educational or commemorative purposes but are not considered legal tender.

Restrike: A coin produced using original dies after the original minting period has ended. Restrikes are often created for collectors and may not carry the same historical value as coins struck during the original issuance.

Reverse: The back side of a coin, often featuring complementary designs, such as a denomination, emblem, or motto. It is commonly referred to as the "tails" side.

Rim: The raised edge around the circumference of a coin, often serving to protect the design from wear. The rim can also contain inscriptions or other design elements.

Satin Finish: A smooth, matte-like surface on a coin, often used for special mint sets or collector's editions. Satin finishes differ from the reflective surfaces of proof coins and the standard finish of circulation coins.

Seigniorage: The profit made by a government from issuing currency, calculated as the difference between the face value of the money and the cost of producing it.

Series: A group of coins with the same basic design issued over a period of time. Collectors may focus on completing a series by acquiring one example of each date and mintmark.

Slab: A protective plastic case used to encase a coin for preservation and authentication. Coins are often "slabbed" by third-party grading services, which evaluate the coin's condition and assign a grade.

Specimen Strike: A coin with a quality between regular circulation and proof coins. Specimen strikes often have polished planchets and special packaging.

Strike: The process of stamping a blank piece of metal (called a planchet) with a design to create a coin. The quality of the strike can affect a coin's overall appearance and value. A well-struck coin will have sharp, clear details, while a weak strike may result in a coin with indistinct features.

Strike Through: This error occurs when a foreign object, such as a piece of cloth or metal shavings, is present between the die and the planchet during striking, leaving an impression on the coin. Strike-through errors are unique and can be collectible.

Test Coin: A coin struck to test the dies, composition, or other aspects of the minting process. Test coins are often destroyed after testing, making surviving examples rare and valuable.

Third-Party Grading (TPG): The process of having a coin evaluated and graded by an independent, professional grading service. TPG services provide impartial assessments and encapsulation.

Token: A piece of metal or other material issued by a private entity for use as a substitute for legal tender. Tokens often have limited acceptance and are used in specific contexts, such as transit systems or amusement parks.

Toning: The discoloration or color change on a coin's surface, often resulting from exposure to air, humidity, or other environmental factors. Toning can range from subtle hues to vibrant colors and can sometimes increase a coin's desirability and value.

Truncation: Truncation refers to the cut-off point of a portrait on a coin, often at the neck or shoulders. The truncation can include engraver initials, dates, or other design elements.

Uncirculated: Coins that have never been used in everyday transactions and show no signs of wear. They are often preserved in mint condition and are sometimes called "mint state" coins.

Uncirculated Set: A collection of coins that have never been used in circulation, often issued by a mint in special packaging for collectors, also referred to as a mint set.

Uniface: A coin or token that has a design on only one side, with the other side being blank or smooth. These are often used for experimental or test strikes.

Variety: A specific version of a coin within a series, distinguished by differences in design, date placement, mintmark, or other features. Varieties can be minor or major, with major varieties often being more collectible.

Very Fine (VF): A coin grade where the coin shows moderate wear, with most of the design elements still sharp and clear. VF coins retain significant details and some original luster.

Very Good (VG): A coin grade indicating moderate to heavy wear, with major design elements visible but often lacking finer details. The coin may have a somewhat flattened appearance but is still recognizable.

Year Set: A set that consists of one coin of each denomination produced in a particular year. Collectors often create year sets to represent the coinage issued during a specific year, providing a snapshot of the mint's output.

Understanding coin collecting terminology is essential for beginners and experienced collectors alike. This expanded glossary provides a comprehensive list of terms, covering a wide range of concepts and aspects of coin collecting. With this knowledge, collectors can better appreciate the nuances of their coins, make informed decisions, and enjoy the rich history and artistry of numismatics. Happy collecting!