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Glossary of Terms

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OverdateA variety created when all or part of the date is engraved over another date on a die, part of the old date is still visible under the new one. For example, the 1942/1 Mercury dime.

OxidationThe chemical reaction of metal with its surroundings. On copper coins, oxidation shows up as carbon spots and a mellowing of the origional color. On silver coints, oxidation shows up as tarnish or toning.

AlloyA combination of two or more metals, such as electrum or cupro-nickel.

ANAAmerican Numismatic Association

AnnealTo soften metal by the use of heat, planchets have this done in the striking phase to cause less wear on the dies.

ANSAmerican Numismatic Society

Assay OfficeAn institution set up to assay or test the purity of precious metal items (to protect consumers).

BrilliantA coin that is bright and shiny, usually with a hard, chrome-like luster.

Carbon SpotsSmall spots of corrosion, usually seen on copper coins.

Coining PressThe minting machine that strikes coins.

Deep CameoA cameo coin with especially heavy contrast between the frosted and brilliant mirrorlike areas.

Doubled DieA die with doubled device details, letters and/or numerals resulting from an error in manufacture. Also, a coin struck from such a die.

Eye AppealThe total visual aspects of a coin that reflect a range from ugly to beautiful.

Flat PackThe new packaging for proof sets introduced in 1955 in which the coins were placed in their own compartments in pliofilm.

FrictionAny wear or rubbing on the surfaces of a coin.

FrostedA textured, almost crystalline, surface usually seen on the raised portions of a proof coin.

GradingThe art of determining the condition or quality of a coin. NGC and PCGS are two of the prominent independent grading organizations in the industry.

HairlinesAny fine scratches on the surface of a coin, usually caused by wiping with a cloth.

LintmarksTiny, squiggly lines on the surface of a proof coin, caused when actual pieces of lint are squeezed into the metal when the coin is struck.

MatteFine, granular texture on the surface of a proof coin. Matte surfaces have a dull appearance as opposed to the reflective surfaces of a brilliant proof.

MintA manufacturing facility for producing coins. Also can refer to the act of making/striking a coin and Uncirculated (brand new) coinage.

Morgan, George T.Famous designer and U.S. Mint chief engraver; renowned for his popular 'Morgan' silver dollar coin.

MSAbbreviation for Mint State coin.

NickelHard, silver-color metal. Also refers to the U.S. 5-cent piece.

Placer GoldGold found in sand or gravel.

PressSee 'Coining Press'

Proof SetA set of each of the official, government-issued Proof coins struck during a given year. Unlike Mint Sets, U.S. Proof Sets are specially-prepared coins and packaged specially for collectors, and were not intended for regular circulation.

PFAbbreviation for Proof coin.

SMSAbbreviation for Special Mint Set.

Saint-Gaudens, AugustusThe famed sculptor commissioned by President Theodore Roosevelt to redesign U.S. coinage to better reflect traditional beauty through Greek-inspired designs. He designed the $20 Saint-Gaudens and the $10 Indian before his death in 1907. He was born in Ireland in 1848 and emigrated to New York City. Saint-Gaudens created many famous statues and reliefs throught his career.

Special Mint SetsSpecial sets of uncirculated coins issued from 1965 to 1967 as replacements for both Mint Sets and Proof Sets (neither of which were issued during those years).

SpecimenA specially-prepared coin, usually for presentation purposes or for sale to collectors. In the 1800s, this term was often used instead of proof.

SurfacesThe ''skin'' or outer layer of a coin, including any of the fields, the raised portions of a coin, and the edge.

CopperA reddish-yellow metal slightly harder then gold, often noted for it's green oxidation. Used as an alloy in pennies.

AbrasionsLight friction rubbing or scuffing that is different from hairlines and bag marks. Sometimes referred to as ''cabinet friction'' because many times it is caused by a sliding action in a coin cabinet.

AccumulationQuantities of coins, tokens and other numismatic material which has not been sorted, classified, attributed nor organized in any meaningful way, unlike a true coin collection.

Adjustment MarksMarks or grooves caused by filing a planchet prior to striking in order to reduce it to a standard weight. This was a fairly common practice on many early U.S. coins, particularly bust dollars.

AlbumA holder with slots for storing and displaying coins in a book-type manner. Common brand names include Whitman, Dansco and Harco.

AlterationsA fraudulent and illegal practice of tampering with the date, mint mark or other feature of a coin (or paper currency) in an attempt to be deceptive. For example, adding an 'S' mintmark to a 1909-VDB Lincoln Cent struck at the Philadelphia Mint.

AncientA coin produced prior to the generally accepted date of 500 A.D.

Artificial ToningChanging the color or appearance of a coin by various treatments with chemicals, heat and other methods in an attempt to increase its value. While a coin with natural toning may at times provide exceptional eye-appeal and command higher prices than an untoned specimen, a coin known to have been artificially toned (a deceptive practice) will bring much lower than typical prices.

AttributesSpecific characteristics of a coin. For example: country of origin, denomination, type, inscription, date, metal composition, variety, design, mint marks.

AuthenticationA determination by a neutral numismatic expert as to the status of a coin being original and genuine, not counterfeit.

Bag MarksNicks and scratches resulting from contact with other coins in the same mint bag. This is especially common on large, heavy coins such as Morgan silver dollars.

Bank NotePaper currency issued by a bank and payable to bearer.

Bas Relief(Pronounced ''bah'') Bas-relief is a method of sculpting which entails carving or etching away the surface of a material (i.e. metal) to create a sculpture portrayed as a picture above the surface. The word is derived from the Italian ''basso rilievo,'' the literal translation meaning low contrast as opposed to ''alto rilievo'' or high contrast.

BillonA low-grade alloy of silver and other metals, usually copper, which is used in minor coinage.

Bi-metal / Bi-metallicA coin with the center and outer ring(s) having different metal alloy compositions.

BitSpanish pieces of eight were physically cut into eight pieces with each piece as one bit. The quarter dollar is sometimes referred to as two bits, so that an eighth of a dollar would be one bit or 12 and one-half cents.

BlankA piece of metal (typically circular) being prepared for coinage before the rims have been raised via the upsetting mill.

BlemishesMinor nicks, marks, flaws or spots of discoloration that mar the surface of a coin.

BourseA place where dealers, collectors and the general public get together to buy, sell and trade coins with each other. Usually the most active section of a coin show.

BrassA yellowish-gold color alloy consisting mainly of copper and zinc.

Broadstrike / BroadstruckA coin struck without a firmly seated collar which results in an outwards ''spread'', but still includes all design details.

BrockageA mirror image of a design from one side of a coin impressed on the opposite side, i.e. a newly struck coin may adhere to the 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.

BronzeA reddish-brown alloy consisting mainly of copper and tin with a small amount of zinc.

BullionA coin or other object composed primarily of a precious metal such as gold, silver or platinum with little to no numismatic value over and beyond that of the metal content itself.

Bureau of Engraving and PrintingAn agency of the U.S. Treasury Department responsible for the production of currency.

Business StrikeA coin struck with the intent of serving in the channels of commerce (i.e. to be circulated).

Cabinet FrictionSee 'Abrasions'

CameoA coin, usually a Proof strike, with a frosted or satin central device surrounded by a mirrorlike field.

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

Certified CoinA coin authenticated and graded by a neutral or unbiased, third-party professional service.

CherrypickTo secure the purchase of a rare variety of a coin worth a premium over the seller's asking price for a common variety.

Chop MarkA symbol added to money by someone other than the government which issued it to indicate authenticity. Commonly found on U.S. Trade Dollars which circulated in the Orient.

CirculatedDenotes currency that has served a purpose in the channels of commerce, i.e. it is no longer mint state (uncirculated).

CladComposed of more than one metallic layer, i.e. dimes, quarters and half dollars currently minted by the U.S. Mint since 1965.

Clash MarksElements of designs from the opposite side of a coin which is the result of coin dies clashing into one another when no planchet is present during the striking process.

CleaningAny procedure that removes corrosion, unattractive toning, etc., such as dipping in solution or rubbing with abrasive materials.

Cleaned CoinA coin which has been dipped, polished, whizzed, wiped, etc. Generally speaking, a certain amount of very light cleaning (such as dipping) done by a professional may be acceptable.

ClipA coin, planchet or blank missing a portion of metal from its periphery, caused by an error during production of the blank, usually at the end of a strip.

ClippingDeliberate shearing or shaving from the edge of gold and silver coins. This was quite common from the Byzantine to the Colonial eras, so much so that many authorities employed edge devices in order to discourage this practice.

CoinA piece of metal (typically circular) with a distinctive stamp and of a fixed value and weight issued by an authority and intended to be used as a medium of exchange.

Coin ShowAn event where numismatic items are bought, sold, traded and often exhibited.

CollarA device in a minting press used to restrict the outward flow of metal during striking. Allows the rounding of coins to be much more precise. It can also be used to put an edge design on the coin.

CollectionAn organized unit of various numismatic holdings.

ColonialA coin issued by a colony, such as those produced in the eastern American colonies in the 17th and 18th centuries.

CommemorativeA special coin with a design honoring a person, place or event in history.

Condition CensusThe finest known specimens of a particular coin type or variety.

Contact MarksSmall surface nicks or scratches which are caused by contact of coins in the same bag.

CounterfeitA fake coin deceptively made with the intent of passing it off as if it were the genuine article.

CudA raised lump of metal on a coin caused by a piece of the die breaking off.

CullA coin that is worn to the point of being barely identifiable; and/or damaged.

Cupro-Nickel (or copper-nickel)Composed of an alloy of copper and nickel, such as the U.S. Flying Eagle cents struck from 1856 thru 1858.

CurrencySee 'Paper Money'

DamageA problem such as scratches, nicks, holes, harsh cleaning, pitting, etc. that lowers the value of a numismatic item.

DateThe year(s) stamped on a coin, typically representing the year it was minted.

DealerAn individual or organization that regularly buys, sells and trades numismatic products.

Deep Mirror ProoflikeAn attribute given to coins with highly-reflective, mirrorlike fields that give it a similar look to that of a proof strike.

DelaminationMetal missing (or nearly so) from the surface due to incomplete bonding in the planchet.

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

DenominationThe face value of a coin.

Denticles (Dentils)Tooth-like raised features near the rim of a coin.

DesignThe arrangement of devices, lettering, etc. on a coin.

DesignerThe artist who creates a coin's design. An engraver is the person who cuts a design into a coinage die.

DeviceA major design element. For example, the bust of a person or a ship on the high seas.

DieA piece of metal (usually cylindrical) engraved with a design at one end used for stamping coins.

Die ChipA small fragment broken off from a die similar to a cud, but much less dramatic.

Die ClashUpper and lower dies coming together in a coin press without a planchet between them.

Die CrackA narrow fissure in the surface of a die that produces a raised line on the coins it strikes.

Die ErosionNormal wear on a die from its use in the minting process.

Die StateThe condition of a die at a specific time in its life.

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

CrownAny dollar-size coin (c. 38mm in diameter) in general, often struck in silver; specifically, one from the Great Britain and some Commonwealth countries.

Die VarietyAny minor alteration in the basic design of a coin.

DippingA form of cleaning by immersion in a chemical solution which is capable of causing molecular changes in the surface. The intent is typically to remove oxidation or foreign matter from a coin to provide a more appealing appearance.

DismeA frequently-used spelling of ''dime'' in the 17th century.

Double DenominationAn error in which a coin is restruck by the die pair of another denomination.

Double DieA term often intended to mean a doubled die coin and sometimes indicating a machine doubled coin (a very different meaning altogether).

Double EagleA U.S. $20 gold coin, minted from 1849 through 1933.

DrachmaAn ancient Greek silver coin weighing about 3 grams. The predecessor to the Roman denarius.

DoubloonPopular name for a Spanish gold coin.

EagleA U.S. $10 gold coin minted from 1795 through 1933. It also refers to the current U.S. silver, gold and platinum bullion program coins struck from 1986 to the present.

EdgeThe perimeter of a coin, sometimes referred to as the''3rd'' side. It often contains a series of reeds, lettering or other decoration.

ElectrumA naturally occurring alloy of silver and gold. The earliest coins of ancient Asia Minor and many Byzantine issues were struck in this metal.

E Pluribus UnumThe Latin motto found on many U.S. coins, which translates to ''Out of many, one''.

ErrorAny mistake in the minting process which results in a different appearance than intended on the resulting coin(s). A mismade coin not intended for circulation.

ExergueThat portion of a coin beneath the main design, usually divided from the field by a line and often containing the date, mintmark or engraver's initial(s).

ExonumiaTokens, medals and other non-monetary coin-like objects.

ElectrotypeA reproduction of a coin or medal made by the electrodeposition process. Electrotypes are frequently used in museum displays.

Encapsulated CoinsCoins that have been authenticated, graded and sealed in a plastic holder by a professional service.

EngraverThe person who cuts the design into a coinage die.

Face ValueThe value stated on the face of a coin or note at the time of issue. (Vintage or historically-significant coins and notes may now be worth a great deal more than their face value.)

FieldThe background portion of a coin's surface, not used for a design or inscription.

Fillet HeadThe head of Liberty on U.S. coins with her hair tied with a band, generally on the forehead.

FinenessThe purity of a precious metal coin, usually expressed in terms of one thousand parts. For example, a coin of 90% pure silver is expressed as .900 fine.

FishscaleA 3-cent silver U.S. coin sometimes referred to as a ''Trime.'' Also, a 5-cent silver Canadian piece.

FlanA blank piece of metal in the size and shape of a coin; another term for a planchet.

FlipA plastic coin holder, usually with 2 sections; one for the coin and one for a small card containing information about the coin.

Glow LinesMicroscopic lines in the surface of a coin resulting from the outward flow of metal during the striking process.

Fiat MoneyMoney not backed by specie and is legal tender by virtue of decree.

FlyspecksMinute oxidation spots on a coin, often caused by small droplets of spittle from talking over the coin.

Fugio CentThe first coin issued by authority of the United States in 1787. Fugio is Latin for ''I fly'', in this instance, referring to time.

ProofA specially-made coin distinguished by sharpness of detail and usually with a brilliant, mirrorlike surface. Proof refers to the method of manufacture and is not a grade. A Proof is a coin that is specially prepared using highly-polished dies and planchets, and extra pressure in the coining press.

GalvanoAn epoxy coated plaster relief model of a coin created in order to produce master hubs, which in turn produce coin dies.

GradeCondition assigned to a coin mainly in an effort to determine its relative value. See 'Condition'

Condition of CoinsThe condition of a coin is the key to its value. As location is to the real estate market, quality is paramount in the coin collecting market. Each step on the grading scale means a more perfect coin. To learn more about condition and grading of coins, please see our article under 'Collector News.'

Half CentA U.S. copper coin minted from 1793 through 1857 (1/200th of a dollar).

Half DimeA U.S. silver coin minted from 1794 through 1873 (five cents).

Half EagleA U.S. $5 gold coin minted from 1795 through 1929.

GemA coin of exceptionally high quality.

High PointsThe areas of highest relief in a coin design. Usually the first to show evidence of wear or abrasion.

Hobo NickelA coin (usually a U.S. Buffalo nickel) re-engraved to produce a different image.

HoledHaving a hole drilled through it, usually for jewelry use.

HolderA device designed for storage and/or display of numismatic items.

HubA positive-image punch to impress the coin's design into a die for coinage.

Impaired ProofA proof coin with wear or damage resulting from circulation or mishandling.

IncuseThe design of a coin that has been impressed below the coin's surface. A design raised above the coin's surface is in relief.

InscriptionThe legend or lettering on a coin.

IntrinsicBullion or ''melt'' value of the actual precious metal in a numismatic item. The net metallic value sans numismatic/face value.

JugateConjoined busts facing the same direction slightly offset from each other in such a way as to allow the bottom bust to be partially seen while the top bust is shown in its entirety.

Investment GradePromotional term; generally refers to a coin graded MS-65 or better.

Key CoinThe scarcest or most valuable coin or coins in a series.

Key DateThe rarest (or one of the most rare) and therefore most expensive members of a coin series. For example, the 1909-S VDB Lincoln cent or 1916-D Mercury dime.

LaminationA defect caused by metal detaching from the rest of a coin. Somewhat common with clad coinage.

Large CentA large U.S. copper coin minted from 1793 through 1857, similar in size to a current U.S. quarter (worth 1/100th of a dollar). Also, a similar Canadian coin issued between 1858-1920.

LegendThe principle inscription on a coin other than the denomination or nation which issued it.

Lettered EdgeThe inscription found on the edge of a coin.

LooniePopular name for the Canadian loon dollar coin, first issued in 1987.

LusterThe glossy or frosty brilliance of an Uncirculated (Mint State) coin seen from the reflection of light off the flow lines.

Legal TenderMoney that is officially issued and recognized for redemption by an authorized agency or government.

Machine DoublingDoubling of details resulting from loose dies during the striking process. This is much more common and much less valuable than die doubling.

Matte ProofA proof coin with a grainy surface appearance produced by dies treated to obtain a minutely-etched surface.

MedalA coin-like object struck to honor one or more persons or events, but without any denomination, which may then classify it as a commemorative coin.

MeltThe value of precious metal in a coin. See 'Intrinsic'

Milled EdgeA raised rim around the outer surface of a coin.

MintageThe number of coins produced by a mint for a specific time period.

Mint MarkLetter or symbol used to denote the mint which produced the coin.

Mint SetA group of Uncirculated coins from one or more mints of the same nation. Each set contains at least one coin for most or all of the denominations issued for circulation during a particular year.

Mint StateA level of preservation signifying the same basic condition as when originally delivered from the mint (Uncirculated).

Misplaced DateOne or more digits of a date punched away from the intended location.

MottoAn inspirational word or phrase found on a coin. Examples include ''E Pluribus Unum'' and ''In God We Trust''.

MuleA coin struck from two dies not intended to be used together.

NGCNumismatic Guaranty Corporation of America. NGC was founded in 1987. An independent organization for coin authentication, certification and grading, its opening heralded the introduction of a new standard of integrity. From the beginning, NGC focused on only one objective, a standard of consistent and accurate grading.

ToningToning, or patina, is formed on a coin as a result of the metal interacting with the environment over time. This process is natural and can produce an array of beautiful or rustic colors as well as patterns. Patterns of toning can occur depending on how and in what packaging the coin is stored. Many collectors seek out these specimens because every toned coin is unique.

NickA small mark on a coin usually caused by contact with a another coin.

NumismaticsThe art and science relating to the study of coins, tokens, medals, paper money and similar objects.

NumismatistOne who is knowledgeable in the area of numismatics.

ObverseThe front or ''heads'' side of a coin, typically the side with the date and main design.

Off CenterAn error caused by incorrectly centering the planchet during the striking process, which results in part of the design being askew or missing from the coin.

Over MintmarkA mintmark punched on top of another mintmark, such as a 'D' over an 'S'.

OverstrikeAn impression made with different dies on a previously struck coin.

PCGSProfessional Coin Grading Service. PCGS began serving the coin-collecting market in 1986. The firm is responsible for dramatic improvements throughout the rare coin industry, which have forever changed the way rare coins are bought and sold. In addition to standardized grading, PCGS offered a grading guarantee.

Paper MoneyPaper notes with standardized characteristics issued as money.

PatinaThe green or brown surface film found on old copper and bronze coins caused by oxidation over a long period of time. See 'Toning'

PatternA coin struck as a trial or experimental piece, typically for a new design, denomination or metal. Many times pattern coins are struck without all final legends, dates, design details, etc., and may be struck on different alloys than the final issue.

Piece of EightAn early Spanish coin with a face value of eight reales.

PittedHaving a rough surface due to loss of metal by corrosion.

PlanchetThe blank disk of metal on which a design is stamped to become a coin.

PluggedA holed coin that has been filled.

Prestige SetA set of coins produced by the U.S. Mint containing one or more proof commemorative coins released in the same year, as well as a proof cent, nickel, dime, quarter and half dollar.

ProoflikeA business strike coin having mirrorlike fields that give it an appearance similar to that of a proof strike.

Quarter EagleA U.S. $2.50 gold coin minted from 1796 through 1929.

RawA coin that has not been encapsulated by an independent grading service.

RarityGenerally relates to the scarcity or relative unavailability of a coin; a direct result of important factors such as the original mintage and overall survival rate.

RealeA former basic monetary unit of Spain and Spanish colonies.

Reeded EdgeThe edge of a coin with grooved lines that run vertically around its perimeter.

ReliefThe portion of a coin design that is raised above its surface. The opposite of incuse.

RestrikeA coin struck with authentic dies at a later time than the original date of issue.

ReverseThe back or ''tails'' side of a coin.

RimThe outer edge of a coin, often raised to avoid premature wear of the coin's design.

ScratchA deep line or groove in a coin caused by contact with a sharp or rough object. A scratch is much more dramatic than a hairline.

SeriesA set of one coin of each year with a specific design and denomination issued from each mint. For example, Lincoln cents from 1909 to 1959.

Silver CertificatePaper money that was once redeemable for its face value in silver.

Silver EagleA coin produced by the U.S. mint beginning in 1986 that contains one ounce of pure silver and a face value of one dollar (not intended for circulation).

SlabThe sealed hard plastic holder used by third-party professional grading services to house coins they have determined to be authentic. Each has a label denoting the specific grading service, grade assigned to the coin and other information.

SpeciePrecious metal used to back money, usually gold and silver.

SpotA small area of corrosion or foreign substance on a coin.

Spot PriceThe daily quoted market value of precious metals such as silver, gold and platinum in bullion form.

SpreadDifference between buy and sell prices on the same coin(s) from the same party. It also refers to the degree of separation between impressions on a doubled die.

StellaA U.S. $4 gold coin pattern minted 1879-1880.

StriationsThin raised lines on the surface of a coin caused by excessive polishing of the die.

StrikeThe process of stamping a design into a planchet by force of the dies to create a coin. It also refers to the degree of detail on a coin.

TetradrachmAn ancient Greek silver coin weighing about 13 to 17 grams, similar in size to a U.S. quarter but much thicker.

TokenA privately-issued piece, typically redeemable for a particular product or service but not an official government coin.

Trade DollarSilver dollar issued especially for trade with a foreign country. In the United States, trade dollar coins were minted from 1873 through 1885, specifically to stimulate commerce with the Orient. Many other countries have also issued trade dollars.

TrimeA small U.S. 3-cent silver coin minted from 1851-1873.

TruncationThe sharply cut off bottom edge of a bust or portrait.

Type CoinA series of coins defined by a shared distinguishing design, composition, denomination and other elements. For example, Barber dimes or Franklin half dollars.

Type SetA collection consisting of one representative coin of each type, of a particular series or period.

UncirculatedA circulation-strike coin that has never been used in commerce and has retained its orignal surface and luster; also called Mint State. A state of preservation to describe coins that show no wear from circulation.

UniqueA coin of which only one specimen is known to exist. For example, the U.S. 1870-S $3 gold piece.

VarietyA coin's design that sets it apart from the normal issue of that type.

WearMetal lost during handling and contact with other objects.

WhizzingAlteration by mechanical polishing to produce a shiny surface.

Year SetA collection of coins for any given year, consisting of one of each denomination issued that year. Often purchased as a gift for a special occassion like a birthday or graduation.

WheatiesRefers to Lincoln cents with the wheat ears reverse, issued from 1909 through 1958.