Thisglossary of numismatics is a list of definitions of terms and concepts relevant tonumismatics andcoin collecting, as well as sub-fields and related disciplines, with concise explanations for the beginner or professional.
Numismatics (ancientGreek:νομισματική, meaning "monetary") is the scientific study ofmoney and its history in all its varied forms. Whilenumismatists are often characterized as studyingcoins, the discipline also includes the study of other types of money, such asbanknotes, stock certificates,medals, medallions, andtokens (also referred to asexonumia).
Sub-fields and related fields of numismatics include:
Exonumia, the study ofcoin-like objects such astoken coins andmedals, and other items used in place of legal currency or for commemoration.
The filing down of a blank to the correct weight before striking, shown by file marks. File marks are often still visible on the surface of a coin even after being struck.
alliance coinage
Coins minted by two or more state governments in cooperation. Examples include theEuro coins.
A homogeneous mixture of two or more chemical elements, where the resulting compound has metallic properties. Common coin alloys includecupro-nickel (copper and nickel) andbronze (copper and tin).
altered date
A false date put on a coin to defraud collectors, usually to make it appear more valuable. Such alterations are often easily spotted with the aid of a magnifying glass.
anepigraphic coin
A coin without an epigraph or inscription. Many ancient coins used only a simple picture of an animal to show value or weight.
The process of repeatedly heating and cooling metal in order to relieve stresses. This is often done with coin blanks to make the metal less brittle before striking.
A smallcountermark applied to a coin by a bank or a trader indicating that they consider the coin to be genuine and of legal weight. These are found on ancient and medieval coins as well as on silver coins which circulated in China and Japan, where they are referred to aschop-marks.
A low-gradealloy ofgold orsilver with a high percentage of another metal, usuallycopper.[1] Billon is often produced in response to a sudden debasing of circulating silver coinage due tohyperinflation.
A coin with one type of metal in the center with an outer ring of a different metal. Examples are the 1 and 2 Euro coins and the Canadian "toonie" two-dollar coin.
Originally referring to metal wasted in coin production, now means coins struck when the previous coin remains stuck to a die, creating an incuse impression in the next struck coin (primarily found in ancient coins).
Precious metals in the form of coins whose market value is determined by metallic content rather than scarcity.
bullion value
The current market value of the raw precious metal content of a coin. For example, the bullion value for Canadian silver coins minted between 1920 and 1966 is 12 times the face value when silver is $20.00 per troy ounce.
Coins produced by pouring metal into a mold. Used for the first Ancient Roman bronze "As" coins and Chinese "cash" coins, but rarely used today. Modern counterfeit coins are often cast.
centum
One one-hundredth of the basic monetary unit of a currency system. Originally a Latin term, there are many variations in modern languages, including the Englishcent and Romance languagescentavos,centimos,centesimos orcentimes. Each of these units is valued at one one-hundredth of its corresponding base unit, such as the dollar, euro, peso, etc.
certified coin
A coin that has been graded and authenticated by one of numerous independent grading services.[1] See alsoencapsulated coin.
Tokens generally issued initially by Scottish parishes (die stamped one-side only to show the parish) and later in the United States and Canada. They were square or oblong, made of lead, iron or brass and measured 1/4" to 1".[4]
circulated
A term used to indicate a coin that has wear.
clad coinage
Issues of coins usingcladdingwith a center core and an outer layer of differing metals or alloysbonded together. The currentU.S. Quarter, dime, and half dollar are made of cupronickel-clad copper.
clipping coins
Describes the removal of, usually, precious metal from the edge of a coin using shears or a similar tool for fraudulent purposes. The removed metal could be accumulated as bullion and sold or used to makecounterfeit coins.
The term used to describe the positions of theobverse (front) andreverse (back) designs relative to each other. Amedal alignment describes a coin struck so that when the obverse side is facing upright, and the coin is turned on its vertical axis, the reverse side is also facing upright. Acoin alignment describes a coin struck so that when the obverse side is facing upright, the coin must be flipped top-to-bottom to see the reverse side facing upright. U.S. coins are struck with coin alignment.
collar
The outer ring of the die chamber that holds theblank in place while the obverse and reverse are being stamped.
contact marks
Minor abrasions on uncirculated coinage created by contact with other coins.[1] Also calledbag marks.
countermark
Alsocounterstamp.
Partial or complete over-stamping of a coin or token in order to change its value or issuing authority, or to display an advertisement, political slogan or symbol, etc. Stamping may consist of a number (value), symbol (authority), letters (advertisement or slogan), or any combination of the above.
crown
A large coin often struck in precious metal. Modern crowns are usually not highly circulated due to being too large and/or too heavy. The United States' last crown-sized coin minted for circulation was theEisenhower Dollar, last struck in 1978.
cud
A defect in which a coin has raised metal near its edge. It is caused by a chipped die.[1]
To lower the silver/gold value of the coin by altering its purity, but with the same face value as the pure coin. This often happens during periods of high inflation.
denticles
Small, decorative tooth-like projecting points on the inside edge of a coin.[5]
An engraved metal piece used for transferring the design to the coin. In a vertical arrangement, the upper (or hammer) die is typically used for the obverse. The lower (or anvil) die is stationary and is used for the reverse. The arrangement may also be horizontal.[6]
die clash
Caused when a coinplanchet fails to be placed between two dies during the minting process, causing the dies to smash together. The design of one or both may impress into the opposite die, causing a "shadow" of the design to appear on subsequent coins minted with the damaged dies. The impact of the two dies may also result indie cracks ordefects.
die crack
A fine raised line on a coin that was caused by a crack in the die.[1]
die defect
An imperfection of various sorts caused by a damaged die. May refer to a crack or clash or a chip out of the die, etc. A defect from a chipped die is called acud.[1]
die marriage
The combination of a particularobverse andreverse set of dies. If one die is replaced, a new die marriage is created.
die state
A variation in the appearance of a coin struck by a singledie, resulting from wear or alteration of the die. For example, the presence or absence ofdie cracks may signal a specific die state.
die variety
A minor variation in a die, including repunched mintmarks, doubling or deliberate minor changes to the die design.
A coin issued in the United States worth $0.10 (tencents). While the termdime is American in origin, Canadians often use the term as well.
dipping
The chemical cleaning of a coin with a diluted acid. This "cleanliness" is a result of the surface of the coin being dissolved by the acid. Dipped coins almost always have a lower numismatic value than when they were in their former "dirty" state, hence most numismatists do not recommend dipping or any other method of cleaning coins as doing so will likely reduce the coin's value.
A coin where adie is struck, bounced, and then struck again slightly offset from first strike (common on ancient and medieval coins where hubs were not used), resulting in a coin with a "doubled" image.
An error that occurs in the production of a coin,[1] for example, due to an engraving or die-cutting error. Coin errors are often unique, although engraving errors can appear on all of the coins produced until the error is corrected resulting in errorvarieties.
The value that is written on a coin. For example, an American one-cent coin has a face value of 1cent. A collectable coin orbullion coin is usually worth many times its face value.
unofficial coin or paper note (not legal tender) made to honor a person or event, for advertising purposes, for humor, for artistic purposes, or to show how it might have looked had it been actually issued.
field
The background area of a coin not used for a design or inscription.[1]
filler
A coin that is very worn and/or damaged, but may still be included in a collection if it is akey coin.[1]
Purity of precious metal content expressed in terms of one thousand parts, e.g. 90% pure is expressed as.900 fine.[1] Thepurest gold bullion coin is .99999 fine.
A coin of exceptionally high quality, where quality is determined not just by wear of the coin in circulation but also by the wear and artistic quality of thedies from which it was minted. These factors are crucial for ancient coinage where variability was higher than in modern mints. See alsograde.
flip strike
An error caused by the coin flipping over after being struck, and then struck a second time, resulting in each face of the coin showing a "ghost" of the opposite face.
The condition of a coin or the amount of wear that a coin has received. Common grade terms used in North America, from worst to best, arePoor (Po),Fair (Fr),About Good (AG),Good (G),Very Good (VG),Fine (F),Very Fine (VF),Extra/Extremely Fine (EF or XF),Almost Uncirculated (AU),Uncirculated (UNC), andBrilliant Uncirculated (BU). Grading criteria may also include color, strength of strike, and "eye appeal".
A coin that has been struck by hand, usingdies and a hammer.[9]
high relief
A coin with the raised design high above the field. Coins struck in high relief often have problems with details not coming up sharp enough and dies having a shorter than usual lifespan. If the design is higher than therim, the coin may not be stackable, and the highest points of the design will wear away very quickly.
Part of the coin's design that has been impressed below the surface (intaglio).[1] Not as popular as the "relief" method due to the difficulty of striking clearly and the shorter lifespan of dies.
A unit measurement of the purity of gold. Usually markedK ork; 24K is pure gold, 18K is .750 fine. Not to be confused with the similar termcarat, which is used with precious stones. Both terms originally referred to the seed of thecarob tree (Ceratonia siliqua orSiliqua Graeca). A Roman coin called thesolidus weighed 24 "carats" or "siliquae", 1/6 of a scruple, which eventually became the standard of purity in Western Europe.
key coin
A rarer or higher valued coin within a series.[1] As an example, 1923 and 1925 are key coins in the Canadian small cent series.
A style of coin portraiture started in ancient Rome whose coins often showed the Emperor's head crowned with a laurel wreath. The American Barber coins from 1892 to 1915 and the first portrait of Queen Elizabeth II used in Great Britain from 1953 to 1967 are modern examples.
The appearance of a coin's ability to reflect light; brilliance. Percentage of the original mint luster is one of the factors in determining grades of "Mint State" coins (e.g. MS-60, MS-65).
An annual gift made onMaundy Thursday of a set of pure silver coins made by the Royal Mint and distributed personally by the monarch to the poor ofCanterbury. The number of sets distributed reflects the age of the monarch at the time.[10]
A method of striking coins in which both the obverse and reverse dies are aligned in the same direction. For example,British and most otherCommonwealth coinage,Japanese coinage, andEuro coinage have medallic orientation. Contrastcoin alignment.
A small letter or other symbol inscribed on a coin, indicating at whichmint the coin was struck. Examples are "S" for San Francisco on U.S. coins, or "A" for Paris on French coins.
mint roll
Newly minted coins wrapped in rolls of a certain quantity, by the mint or issuing authority.
mint set
A set of uncirculated coins packaged and sold by a mint.[1]
Another term foruncirculated orfleur de coin, usually used in North America. Conditions range from MS-60 to MS-70.
mis-strike
An off-centre striking of a coin.
monster box
A large plastic shipping box for silver bullion coins, holding 500 coins. U.S.Silver Eagles are shipped in green monster boxes while Canadian Maple Leafs are shipped in red monster boxes.
Non-circulatinglegal tender. These coins are issued in "limited editions" for collectors and are typically sold for far more than theirface value. While these coins are technically legal tender, theirbullion value usually far exceeds their face value.
A coin minted from official dies that is not a regular issue, and intended to evaluate new alloys or designs. Patterns can be divided in three categories.
1. A coin which represents a new design, motto, or denomination, proposed but not adopted, at least for the same year. Most of the unadopted designs fit into this modality.
2. Die trials: A coin made with the regular issue dies, in metals other than the proper. Usually minted to verify details of a new coin, value or design.
3. Experimental pieces: A very similar process to "die trials", but with subtle differences. A coin minted with a die, official or not, to try a new metal, alloy, or shape.
Coins specially struck for collectors using polisheddies andplanchets.[1] The resulting coins usually have a mirrorfield and raised areas are frosted in appearance.
proof set
A set ofproof coins packaged and sold by the mint.[1]
punch mark
A coin struck from "punching" the coin with symbols or a seal, e.g. five punch marked coins of ancient India. Punch marks generally represent animals, tree, hills, and human figures. These coins were issued by royal authority and generally marked with banker's punches on the reverse.
The back or "tails" side of a coin. The opposite ofobverse.[1]
reverse proof
Aproof coin that has itsfields frosted and the design and lettering with a mirror finish. Standard proof coins have the fields mirrored and the design and lettering frosted.
The difference between theface value of a money and the cost to produce and distribute it. When a government issues new coinage, it earns the seigniorage in profit (or loss if negative).
silver dollar
A one-dollar coin minted in theUnited States until 1935, and inCanada until 1967. Dollar coins made after those dates are also sometimes called "silver dollars", although they are actually made ofnickel or other metal. Dollar coins struck in Canada since 1987 are more commonly referred to asloonies because of the loon design on the reverse.
Analloy ofiron,carbon and another element, usuallychromium, that is resistant torusting. Coins struck on stainless steel are very durable and maintain their shiny appearance, but the hardness of the metal requires that the coins have a lowrelief in order to prolongdie life.
A proposed United States gold coin worth $100 (one hundred dollars). Only one pattern "half union" is known to exist. Platinum $100 coins are not technically "unions".
Fine details of a coin's design which set it apart from the normal issue. Varieties arise as a result of intended (die variety) or unintended (mint-made error) alterations to the basic coin design that occur during thedie production stage.
A grey, inexpensive metal, usually alloyed withcopper to makebrass coins, but also used in pure form for emergency coinage when the usual coinage metal is not available due to war or other serious crisis. Much of the coinage struck in Nazi-occupied Europe wastin-plated zinc.
^abcJonathan Edwards.Catalogue of the Greek and Roman Coins in the Numismatic Collection of Yale College, Volume 2. Tuttle, Morehouse & Taylor, 1880. p. 228.
