Coin Basics: A Glossary
In order to learn about coin collecting, you’re going to need to know the terms. Below is a short list of words that are often used in the trade. It’s a good idea to know what these terms mean when approaching a dealer. It will often be the case that you will be taken more seriously when using the correct jargon of the trade. It’s also a good idea to put these words in context. You can do this by searching through other coin collecting web pages just like these to see these words used by people who use them daily. Having attained this information, you will be more prepared to enter into the world of coin collecting.
Alloy: A combination of two or more metals in a coin such as cupro-nickel or cupro-zinc.
Ancient: Refers to any coin minted before 500 A.D.
Bag Marks: Nicks, marks and scratches resulting from coins in a mint bag being in contact with each other.
Bi-metallic Coin: A coin with the center made from one metal with its outer portion being comprised of a different metal.
Blank: A round piece of metal made for subsequent minting into coinage.
Bullion: A coin made of gold or other precious metal with little numismatic value apart from the current value of the metal from which the coin is made.
Cameo: A coin with a frosted appearance
Circulated Coin: A coin which has actually been used as money and shows some degree of wear.
Commemorative Coin: A coin with a design struck in honor of some historical or current event, famous person or special anniversary.
Error Coin: A coin minted by mistake or with a design different than intended.
Grade: The condition of a coin determined by a set methodology.
High Points: The highest part of a coin's design where the first signs of wear and tear generally appear.
Legend: The words that are inscribed around the outer edge of a coin. For U.S. coins, the legend inscription is E Pluribus Unum.
Mintage: The total number of coins of a particular denomination, date and/or type produced by a mint.
Mint Mark: A symbol identifying the particular mint which produced the coin.
Mint State: An un-circulated coin in the same condition as when it was originally minted showing no signs of wear.
Numismatics: The study of coins, paper currency, tokens, medals, and other similar items.
Obverse: The "heads" side of the coin where a portrait of a president, king , queen or other national leader appears.
Proof Coins: Coins that are struck with greater pressure than normal using specially polished dies to make the design more highly polished or mirror-like.
Reverse: The back or "tails" side of a coin. The opposite side to the obverse side of a coin.
Rim: The outer edge of a coin.
Un-circulated Coin: A coin that has never actually been used as money and has no visible signs of wear.
Variety: Any change in the design of a coin results in a new coin variety.
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