Terminology

About Uncirculated
The grades AU50, through 58. A coin that, on first glance, appears Uncirculated but upon closer inspection has slight friction or rub. Also known as Almost Uncirculated

Accumulation
A miscellaneous grouping of coins, often as a monetary hoard. Opposite of a coin collection. A second use is as a grouping of a particular date, type, or series. (Example: an accumulation. of Bust Halves.)

AGW (Actual Gold Weight)
This refers to the amount of pure gold in a coin, medal or bar. Any alloys are part of the gross weight of a gold coin, but not part of the AGW.

Almost Uncirculated
Alternative to About Uncirculated.

Alteration
A coin that has a date, mintmark, or other feature that has been changed, added, or removed, usually to simulate a rarer issue.

American Eagle
In 1986, the U.S. Mint began selling silver bullion coins in the denomination of $1. The next year it added gold coins to the series, eventually expanding to 1/10, ¼, ½, and 1 ounce gold versions. Each coin features a family of eagles on the reverse, hence the name.

Ancients
General term for coins of the world struck circa 600 B.C. to circa 450 A.D.

Annealing
The heating of a die or planchet to soften the metal before preparation of the die or striking of the coin.

Anvil die
The lower die, usually the reverse . although on some issues with striking problems the obverse was employed as the lower die. Because of the physics of minting, the fixed lower-die impression is slightly better struck than the upper-die impression.
See Also -- hammer die

Artificial toning
Colouring added to the surface of a coin by chemicals and/or heat. Many different methods have been employed over the years.

Ask
The selling quotation of a coin either on a trading network, pricing newsletter, or other medium.
See Also -- bid

Assay
To analyze and determine the purity of a metallic alloy.

Attributes
The elements that make up a coin.'s grade. The main ones are marks (hairlines for Proofs), lustre, strike, and eye appeal.

Bag mark
A generic term applied to a mark on a coin from another coin; it may, or may not, have been incurred in a bag.

Bag toning
Colouring acquired from the bag in which a coin was stored. The cloth bags in which coins were transported contained sulphur and other reactive chemicals. When stored in such bags for extended periods, the coins near and in contact with the cloth often acquired beautiful red, blue, yellow and other vibrant colours. Sometimes the pattern of the cloth is visible in the toning; sometimes coins have crescent-shaped toning because another coin covered part of the surface, preventing toning. Bag toning is seen mainly on Morgan silver dollars, though occasionally on other series.

Bank-wrapped rolls
Rolls of coins wrapped at a Federal Reserve Bank from original Mint bags. Such rolls are often desirable to collectors because they have not been searched or "picked" by collectors or dealers. Sometimes abbreviated as OBW, for "original bank wrapped."

Basal state
The condition of a coin that is identifiable only as to date, mintmark (if present), and type; one-year-type coins may not have a date visible.

Basal value
The value base from which Dr. William H. Sheldon's 70-point grade/price system started; this lowest-grade price was one dollar for the 1794 large cent upon which he based his system.

Basining
The process of polishing a die to impart a mirrored surface or to remove clash marks or other injuries from the die.

Beaded border
Small, round devices around the edge of a coin, often seen on early U.S. coins. These were replaced by dentils.

Blank
The flat disk of metal before it is struck by the dies and made into a coin.
See Also -- planchet

Blended
A term applied to an element of a coin (design, date, lettering, etc.) that is worn into another element or the surrounding field.

BM
The designation BM refers to "Branch Mint," meaning any US Mint other than Philadelphia. You will usually find this designation used to describe Branch Mint Proof coins, such as the 1879-O BM Proof Morgan dollar, 1893-CC BM Proof Morgan dollar, etc.
See Also -- branch mint

BN
Short for Brown

Bourse
Term synonymous with coin show

Bourse floor
The physical area where a coin show takes place

Braided Hair
Style of hair on the head of half cents and large cents from 1840 onward consisting of hair pulled back into a tight bun with a braided hair cord.

Branch mint
One of the various subsidiary government facilities that struck, or still strikes, coins.
See Also -- BM

Breast feathers
The central feathers seen on numerous eagle designs. Fully struck coins usually command a premium and the breast feathers are usually the highest point of the reverse. (They are the most deeply recessed area of the die, so metal sometimes does not completely fill the breast feather area, usually because of insufficient striking pressure. Incorrectly spaced or lapped dies will also cause striking. weakness.)

Brilliant
A coin with full lustre, unimpeded by toning, or impeded only by extremely light toning.

Brilliant Uncirculated
A generic term applied to any coin that has not been in circulation. It often is applied to coins with little "brilliance" left, which properly should be described as simply Uncirculated.

Brown
The term applied to a copper coin that no longer has the red colour of copper. There are many "shades" of brown -. mahogany, chocolate, etc. (abbreviated as BN when used as part of a grade).

BU
Short for Brilliant Uncirculated.

BU rolls
Wrapped coins (usually in paper) in specific quantities for each denomination. Fifty for cents, forty for nickels, fifty for dimes, forty for quarters, and so on.

Bullion
Slang for coins, ingots, private issue, and so on that trade below, at, or slightly above their intrinsic metal value. Only the precious metals (gold, silver, platinum, and palladium) are included as bullion. Copper cents could also technically be classed as bullion.

Bullion coin
A legal tender coin that trades at a slight premium to its melt value.

Burnished
This word has two distinct meanings in the world of numismatics, so you have to consider the context in order to discern the correct meaning. The word "burnished" can refer to specially prepared planchet. s (usually 18th century) that were used for specimen coins or other special coins of the era. These planchets were burnished at the Mint prior to the striking of the coin. As a second meaning, "burnished" can refer to any coin that was abrasively cleaned after it left the Mint. The word is often used as a synonym for "whizzed" (the worst kind of cleaning, where the metal is actually moved around).

Burnishing
A process by which the surfaces of a planchet or a coin are made to shine through rubbing or polishing. This term is used in two contexts . one positive, one negative. In a positive sense, Proof planchet.s are burnished before they are struck, . a procedure done originally by rubbing wet sand across the surfaces to impart a mirror like finish. In a negative sense, the surfaces on repaired and altered coins sometimes are burnished by various methods. In some instances, a high-speed drill with some type of wire brush attachment is used to achieve this effect.

Burnishing lines
Lines resulting from burnishing, seen mainly on open-collar Proofs and almost never found on close-collar Proofs. These lines are incuse in the fields and go under lettering and devices.

Business strike
A regular issue coin, struck on regular planchet.s by dies given normal preparation. These are the coins struck for commerce that the Mint places into circulation.
See Also -- regular strike commercial strike

Bust
The head and shoulders of the emblematic Liberty seen on many United States issues.

CA
Short for Cameo.

Cabinet friction
Slight disturbance seen on coins (usually on the obverse) that were stored in wooden cabinets used by early collectors to house their specimens. Often a soft cloth was used to wipe away dust, causing light hairlines or friction.

CAM
Short for Cameo. Also, grading suffix used for 1950 and later Proofs that meet cameo standards.

Cameo
The term applied to coins, usually Proofs and proof like coins, which have frosted devices and lettering that contrast with the fields. When this is deep the coins are said to be . black and white. cameos. Occasionally frosty coins have . cameo. devices though they obviously do not contrast as dramatically with the fields as the cameo devices of Proofs do. Specifically applied to those 1950 and later Proofs that meet cameo standards (CAM).

Capped die
The term applied to an error in which a coin gets jammed in the coining press and remains for successive strikes, eventually forming a . cap. either on the upper or lower die. These are sometimes spectacular with the . cap. often many times taller than a normal coin.

Capped die
The term applied to an error in which a coin gets jammed in the coining press and remains for successive strikes, eventually forming a . cap. either on the upper or lower die. These are sometimes spectacular with the . cap. often many times taller than a normal coin.

Carbon spot
A spot seen mainly on copper and gold coins, though also occasionally found on U.S. nickel coins (which are 75 percent copper) and silver coins (which are 10 percent copper). Carbon spots are brown to black spots of oxidation that range from minor to severe.. Some are so large and far advanced that the coin is not graded because of environmental damage.
See Also -- copper spot

Carson City Mint
Located in Nevada, this mint produced gold and silver coins from 1870-1893. It was closed from 1885-1889 due to a lack of funding. In 1893 the mint was permanently closed due to internal corruption. In 1895 it was found that several employees and prominent community officials were stealing bullion from the mint and this dashed all hopes of the mint ever reopening. Coins minted in Carson City are among the most popular branch-mint issues. This mint uses the . CC. mintmark.

Cartwheel
The pleasing effect seen on some coins when they are rotated in a good light source. The lustre rotates around like the spokes of a wagon wheel. A term applied mainly to frosty Mint State coins, especially silver dollars, to describe their lustre. Also, a slang term for a silver dollar.

Census
A compilation of the known specimens of a particular numismatic item.

Choice Unc
Short for Choice Uncirculated.

Choice Uncirculated
An Uncirculated coin grading MS-63 or MS-64.

Circulated
A term applied to a coin that has wear, ranging from slight rubbing to heavy wear.

Circulation
A term applied to coins that have been spent in commerce and have received wear.

Circulation strike
An alternate term for Business Strike or Regular Strike. A coin meant for commerce.

Clad
A term used to describe any of the modern . sandwich. coins that have layers of copper and nickel. (A pure copper core surrounded by a copper-nickel alloy.) Also used for the 40-percent silver half dollars.

Clash marks
The images of the dies seen on coins struck from clashed dies. The obverse will have images from the reverse and vice versa.

Clashed dies
Dies that have been damaged by striking each other without a planchet between them. Typically, this imparts part of the obverse image to the reverse die and vice versa.

Classic Era
The term describing the period from 1792 until 1964 when silver and gold coins of the United States were issued. (Gold coins, of course, were not minted after 1933.)

Clipped
A term for an irregularly cut planchet. A clip can be straight or curved, depending upon where it was cut from the strip of metal.

Coin friction
Term applied to the area resulting when coins rub together in rolls or bags and small amounts of metal are displaced.

Commem
Short for . commemorative..

Commemorative
Coins issued to honour some person, place, or event and, in many instances, to raise funds for activities related to the theme. Sometimes called NCLT (non-circulating legal tender) commemoratives.

Commercial grade
A grade that is usually one level higher than the market grade; refers to a coin that is "pushed" a grade, such as an EF/AU coin (corresponding to 45+) sold as AU-50.

Commercial strike
A synonym for regular strike or business strike.

Common
A numismatic issue that is readily available. Since this is a relative term, no firm number can be used as a cut-off point between common and scarce.

Common date
A particular issue within a series that is readily available. No exact number can be used to determine which coins are common dates as this is relative to the mintage of the series. (i.e. A 1799 eagle is a common date within its series just as an 1881-S silver dollar is a common date within the Morgan series. Obviously, the 1799 eagle is rare compared to the 1881-S dollar.)

Complete set
A term for all possible coins within a series, all types, or all coins from a particular branch Mint. Examples would include a complete set of a series (The three-dollar series can have but one complete set that being the Harry Bass Foundation set that includes the unique 1870-S. Yes, it is possible that the cornerstone coin could appear someday and change the unique status; a complete gold type set would include examples of all types from 1795 until 1933; a complete set of Charlotte Mint gold dollars must include the 1849-C Open Wreath example of which there are but four currently verified.)

Condition
The state of preservation of a particular numismatic issue.

Condition Census
A listing of the finest known examples of a particular issue. There is no fixed number of coins in a Condition Census with 5, 6, 10, and other totals used by different surveyors.

Condition rarity
A term to indicate a common coin that is rare when found in high grades. Also, the rarity level at a particular grade and higher.

Consensus grading
The process of determining the condition of a coin by using multiple graders.

Contact marks
Marks on coins that are incurred through contact with another coin or a foreign object. These are generally small, compared to other types of marks such as gouges.
See Also -- bag mark

Corrosion
Damage that results when reactive chemicals act upon metal. When toning ceases to be a "protective" coating and instead begins to damage a coin, corrosion is the cause. Usually confined to copper, nickel and silver regular issues, although patterns in aluminium, white metal, tin, etc., also are subject to this harmful process.

Counter stamp
A stamp or impression placed on a coin after it has left the Mint of origin. Counter stamps were frequently used as advertising gimmicks on Large Cents and other coins. The counter stamp leaves a permanent impression on the metal and may hurt the value of the coin. It may also help the value, as in the case of an Ephriam Brasher counter stamp.

Counting machine mark
A dense patch of lines caused by the rubber wheel of a counting machine where the wheel was set with insufficient spacing for the selected coin. Many coins have been subjected to counting machines . among these are Mercury dimes, Buffalo nickels, Walking Liberty half dollars, Morgan and Peace dollars, and Saint-Gaudens double eagles.

Crossover
A word that is used to describe a coin that graded the same at two different grading services. Also written as two words: cross over. "I was sure that the coin wouldn't cross over, so I didn't buy it." or "That coin's definitely a crossover."

Cud

An area of a coin struck by a die that has a complete break across part of its surface. A cud may be either a retained cud, where the faulty piece of the die is still in place, or a full cud, where the piece of the die has fallen away. Retained cuds usually have dentil detail if on the edge, while full cuds do not.

Cull
A coin that is basically non-collectible due to its extremely bad condition. A coin that will neven qualify for a grade of Poor-1, usually because of extensive environmental damage or other post-striking damage.

D
Mint mark used on gold coins of the Dahlonega, Georgia, Mint from 1838 to 1861 and on coins of all denominations struck at the Denver, Colorado, Mint from 1906 to the present.

D-Mint
Term used for the gold coinage struck at the branch Mint in Dahlonega, Georgia, from 1838 to 1861, and for the coinage struck at the branch Mint in Denver, Colorado, from 1906 to the present.

Dahlonega Mint
After the discovery of gold in the southern United States a new mint was constructed in Dahlonega, Georgia. The first coinage exited its doors in 1838 and it continued minting until it was closed due to the civil war in 1861. The 1861-D gold dollars were struck after the Mint was seized; the mintage figure for this rare issue is not listed in Mint records and has been estimated at 1,000 to 1,500 examples. The Dahlonega Mint struck only gold coins and used the . D. mintmark.

DC
Short for Deep Cameo.

DCAM
Short for Deep Cameo.

DDO
An acronym for Doubled Die Obverse.
See Also -- double(d) die

Deep Cameo
The term applied to coins, usually Proofs and proof like coins, that have deeply frosted devices and lettering that contrast with the fields - often called . black and white. cameos. Specifically applied to those 1950 and later Proofs that meet deep cameo standards (DCAM).

Deep mirror proof like
Any coin that has deeply reflective mirror-like fields, the term especially applicable for Morgan dollars. Those Morgan dollars that meet standards are designated deep mirror proof like (DMPL).

Denomination
The value assigned by a government to a specific coin.

Denticles
The tooth-like devices around the rim seen on many coins. Originally these are somewhat irregular, later much more uniform - the result of better preparatory and striking machinery.

Dentils
Short for denticles.

Design
A particular motif on a coin or other numismatic item. The Seated Liberty, Barber, Morgan, etc. are examples of designs.

Design type
A specific motif placed upon coinage which may be used for several denominations and subtypes, e.g., the Liberty Seated design type used for silver coins from half dimes through dollars and various subtypes therein.

Designer
The individual responsible for a particular motif used for a numismatic series.

Device
Any specific design element. Often refers to the principal design element, such as the head of Miss Liberty.

Device punch
A steel rod with a raised device on the end used to punch the element into a working die. This technique was used before hubbed dies became the norm.

Die
A steel rod that is engraved, punched, or hubbed with devices, lettering, the date, and other emblems.

Die break
An area of a coin that is the result of a broken die. This may be triangular or other geometric shape. Dies are made of steel and they crack from use and then, if not removed from service, eventually break. When the die totally breaks apart, the resultant break will result in a full, or retained, cud depending whether the broken piece falls from the die or not.

Die crack
A raised, irregular line on a coin, ranging from very fine to very large, some quite irregular. These result when a hairline break occurs in a die.

Ding
Slang term for a small to medium size mark.

DMPL
Short for deep mirror proof like.

Doctored
Term used for a numismatic item that has been enhanced by chemical or other means. Usually, this is used in a derogatory way.

Double Eagle
Literally two eagles or twenty dollars. A twenty-dollar U.S. gold coin issued from 1850 through 1932. One gold double eagle dated 1849 is known and is part of the National Numismatic Collection at the Smithsonian Institution. Nearly half a million examples dated 1933 were struck by the U.S. Mint, but virtually all were melted when private gold ownership was outlawed that year. (Currently federal officials claim it is illegal to own any 1933-dated specimens that survive.)

Double (d) die
A die that has been struck more than once by a hub in misaligned positions, resulting in doubling of design elements. Before the introduction of hubbing, the individual elements of a coin's design were either engraved or punched into the die, so any doubling was limited to a specific element. With hubbed dies, multiple impressions are needed from the hub to make a single die with adequate detail. When shifting occurs in the alignment between the hub and the die, the die ends up with some of its features doubled . then imparts this doubling to every coin it strikes. The coins struck from such dies are called doubled-die errors . the most famous being the 1955 Doubled Die Lincoln cent which uses doubled die as the designation.

Double (d)-Die
Slang for the rare 1955 Doubled Die Lincoln Cent variety.

Double-struck
A condition that results when a coin is not ejected from the dies and is struck a second time. Such a coin is said to be double-struck. Triple-struck coins and other multiple strikings also are known. Proofs are usually double-struck on purpose in order to sharpen their details; this is sometimes visible under magnification.

Eagle
A gold coin with a face value of ten dollars. Along with the dollar, this was the basis of the U.S. currency system from 1792 until 1971. No U.S. gold coins were struck for circulation after 1933, and all gold coins issued prior to that time were recalled from circulation.

Early strike
One of the first coins struck from a pair of dies. Such coins are generally fully struck, with no die flaws, and they are usually Proof like and/or exhibit cameo contrast.

Edge
The third side of a coin. It may be plain, receded, or ornamented . with lettering or other elements raised or incuse.

Edge device
A group of letters or emblems on the edge of a coin. Examples would be the stars and lettering on the edge of Indian Head eagles and Saint-Gaudens double eagles.

Elements
For numismatic condition purposes, the various components of grading. In other numismatic contexts, this term refers to the various devices and emblems seen on coins.

Engraver
The person responsible for the design and/or punches used for a particular numismatic item.

Envelope toning
A term applied to toning that results from storage mainly in 2 x 2 manila envelopes; most paper envelopes contain reactive chemicals.

Environmental damage
Corrosion-effect seen on a coin that has been exposed to the elements. This may be minor, such as toning that is nearly black, to major - a coin found in the ground or water which has severely pitted surfaces. Does not grade coins with environmental damage.

Eroded die
Synonym for . worn die..

Error
A numismatic item that unintentionally varies from the norm. Ordinarily, overdates are not errors since they were done intentionally while other die-cutting . mistakes. are considered errors. Double dies, planchet clips, off-metal striking, etc. also are errors.

Essai
Term for trial, pattern, and experimental strikings. The anglicized version is essay and literally means a test or trial.

Eye appeal
The element of a coin's grade that "grabs" the viewer. The overall look of a coin.

Face value
The stated value on a coin, at which it can be spent or exchanged. The face value is usually different from a coin.s numismatic or precious metal value.

Fiat currency
Coins and paper money that do not have metal value or are not backed up by metal value.

Field
The portion of a coin where there is no design . generally the flat part (although on some issues, the field is slightly curved).

Finest known
The best-known condition example of a particular numismatic item.

First Strike (TM)
Beginning in 2004, began designating coins delivered by the U.S. Mint in the 30 day period following the initial sales date of a new product as "First Strike". For instance, new American Silver Eagles typically go on sale each January 1st, thus any coins delivered between January 1 and January 31 qualify for the First Strike (TM) designation.

Five Indian
Slang for the Indian Head half eagles struck from 1908 to 1929.

Five Lib
Slang for the Liberty Head half eagles struck from 1839 until 1908.

Flat edge
Term referring to the particular specimens of High Relief. s that do not have a wire edge.
See Also -- wire edge

Flat lustre
A subdued type of lustre seen on coins struck from worn dies. Often these coins have a gray or otherwise dull colour that makes the fields seem even more lacklustre.

Flow lines
The lines, sometimes visible, resulting from the metal flowing outward from the centre of a planchet as it is struck. The . cartwheel. lustre is the result of light reflecting from these radial lines.

Focal area
The area of a coin to which a viewer's eye is drawn. An example is the cheek of a Morgan dollar.

Friction
Slight wear on a coin's high points or in the fields.

Frost
A crystallized-metal effect seen in the recessed areas of a die, thus the raised parts of a coin struck with that die. This is imparted to dies by various techniques, such as sandblasting them or pickling them in acid, then polishing the fields, leaving the recessed areas with frost.

Frosted devices
Raised elements on coins struck with treated dies that have frost in their recessed areas. Such coins have crystalline surfaces that resemble frost on a lawn.

Frosty lustre
The crystalline appearance of coins struck with dies that have frost in their recessed areas. Such coins show vibrant lustre on their devices and/or surfaces; the amount of crystallization may vary. Also, this term is applied to coins whose entire surface has this look.

Gem
Adjectival description applied to Mint State and Proof-65 coins. It also is used for higher grades and as a generic term for a superb coin.

Gem BU
Short for Gem Brilliant Uncirculated.

Gem Unc
Short for Gem Uncirculated.

Gem Uncirculated
The adjectival equivalent of Mint State 65 or 66.

Gold commem
Short for gold commemorative.

Gold commemorative
Any of the eleven commemorate coins struck in gold from 1903 until 1925. Also, any of the modern United States commemorative gold issues, sometimes called modern gold commems.

GPA
This refers to the Grade Point Average of a Set Registry set. If a set is unweighted the GPA is figured by adding up the grades of each coin and dividing the sum by the number of coins in the set. If a set is weighted (and someday all of the sets will be weighted) then the rarity of the coins is also factored into the equation.

Grade
The numerical or adjectival condition of a coin.

Grader
An individual who evaluates the condition of coins.

Grading
The process of numerically quantifying the condition of a coin. Before the adoption of the Sheldon numerical system, coins were given descriptive grades such as Good, Very Good, Fine, and so forth.

Hairlines
Fine cleaning lines found mainly in the fields of Proof coins, although they sometimes are found across an entire Proof coin as well as on business strikes.

Half Eagle
Literally, half the value of an Eagle. The Eagle was defined by the Mint Act of 1792 as equal to ten silver dollars.

High Relief
The Saint-Gaudens inspired effort of Charles Barber to reduce the Extremely High Relief down to a coin with acceptable striking qualities. After 11,250 coins, this effort was abandoned. However, these were released and quickly became one of the most popular coins of all time.

Hoard
A group of coins held for either numismatic or monetary reasons. A numismatic hoard example would be the hoard of Little Orphan Annie dimes (1844). A monetary hoard example would be the 100,000 plus coins in the Economite, Pennsylvania hoard of the nineteen century. That hoard consisted mainly of half dollars.

Hoard coin
A coin that exists, or existed, in a quantity held by an individual, organization, etc. Examples include Stone Mountain half dollars still held by the Daughters of the Confederacy, the superb group of 1857 quarters that surfaced in the 1970s, and so on.

Hoarders
Individuals who amass a quantity of a numismatic item(s).

Incomplete strike
A coin that is missing design detail because of a problem during the striking process. The incompleteness may be due to insufficient striking pressure or improperly spaced dies.

Incuse design
The intaglio design used on Indian Head quarter eagles and half eagles. These coins were struck from dies which had fields recessed, so that the devices . the areas usually raised . were recessed on the coins themselves. This was an experiment to try to deter counterfeiting and improve wearing quality.

Intrinsic value
The value of the metal(s) contained in a numismatic item. The United States issues contained their intrinsic value in metal until 1933 for gold coins and 1964 for silver coins. Today.s . sandwich. coins are termed fiat currency.

Key Coin
The major, or most important, coin in a particular series. The "key" coin is usually the lowest-mintage coin and/or the most expensive coin in a particular set. The 1916-D dime, for instance, is usually considered the key coin of the Mercury dime series. It is the lowest mintage coin of the set and the most expensive (in most grades). The 1919-D dime is the "condition rarity key" of the Mercury dime series, as it is the most expensive coin in top condition.

Most sets have more than one key coin. In Lincoln cents, for instance, the 1909-S V.D.B., the 1914-D, the 1922 Plain and 1955/55 Doubled Die are all considered to be key coins in most grades. In MS65RD the 1926-S is the rarest of the regular issues, so it is considered the "condition rarity key."

At times any scarce or rare coin is referred to a "key" coin. The terms "key to the set" or "key to the series" are also used as synonyms for "key coin."

Legal Tender
Coins and currency issued by the government as official money that can be used to pay legal debts and obligations.

Legend
A phrase that appears on a coin . for instance, UNITED STATES OF AMERICA.

Lettered edge
A coin edge that displays an inscription or other design elements, rather than being reeded or plain. The lettering can be either incuse (recessed below the surface) or raised. Incuse lettering is applied before a coin is struck; the Mint does this with a device called the Casting machine. Raised lettering is found on coins struck with segmented collars; the lettering is raised during the minting process, and when the coin is ejected from the dies, the collar "falls" apart, preventing the lettering from being sheared away.

Lettering
The alphabet characters used in creating legends, mottoes, and other inscriptions on a coin, whether on the obverse, reverse, or edge.

Liner
A coin that is on the cusp between two different grades. A 4/5 liner is a coin that is either a high-end MS/PR-64 or a minimum-standard MS/PR-65.
See Also -- high end premium quality

Lint mark
A repeating depression on a coin, usually thin and curly, caused by a thread that adhered to a die during the coin's production. Lint marks are found primarily on Proofs. After dies are polished, they are wiped with a cloth, and these sometimes leave tiny threads.

Loupe
A magnifying glass used to examine coins. Loupes are found in varying strengths or "powers".

Lustre
In numismatics, the amount and strength of light reflected from a coin. s surface or its original mint bloom. Lustre is the result of light reflecting on the flow lines, whether visible or not.

Luster
Alternate form of lustre.

Lustrous
A term used to describe coins that still have original mint bloom.

Major variety
A coin that is easily recognized as having a major difference from other coins of the same design, type, date, and mint.
See Also -- minor variety

Market grading
A numerical grade that matches the grade at which a particular coin generally is traded in the marketplace. The grading standard used by traders.

Marks
Imperfections acquired after striking. These range from tiny to large hits and may be caused by other coins or foreign objects.

Master die
The main die produced from the master hub. Many working hubs are prepared from this single die.

Matte Proof
An experimental Proof striking, produced by the U.S. Mint mainly from 1907 to 1916, which has sandblasted or acid-pickled surfaces. These textured surfaces represented a radical departure from brilliant Proofs, having even less reflectivity than business strikes.

Metal stress lines
Radial lines, sometimes visible, that result when the metal flows outward from the centre of the planchet during the minting process.
See Also -- flow lines

Milling mark
A mark that results when the reeded edge of one coin hits the surface of another coin. Such contact may produce just one mark or a group of staccato-like marks.

Mint mark
Variation of mintmark

Mint set
A set of Uncirculated coins from a particular year comprising coins from each Mint. (Usually, this term refers to government issued Mint Sets, although for many years, it has been loosely used for any set of Uncirculated coins from a particular year. Also, the government Mint Sets issued from 1947 until 1958 were double sets.)

Mint State
The term corresponding to the numerical grades MS-60 through MS-70, used to denote a business strike coin that never has been in circulation. A Mint State coin can range from one that is covered with marks (MS-60) to a flawless example (MS-70).

Mintage
The number of coins of a particular date struck at a given mint during a particular year. (This may not equal the . official. mintage for that calendar year, especially for pre-1840 coinage. The Mint reported coins struck in the calendar year, regardless of the date(s) on the issue. For instance, the 1804-dated dollar was included in Proof Sets struck in 1834 because the . official. mintage figures for 1804 included silver dollars although it is now known that these were dated 1803 or possibly even earlier.)

Mintmark
The tiny letter(s) stamped into the dies to denote the mint at which a particular coin was struck.

Monster
Slang for an incredible coin, usually one that grades MS/PR-67 or higher. A secondary use is as an adjective, such as monster lustre or monster colour.

Motto
An inscription on a coin . especially IN GOD WE TRUST, which first appeared on the 1864 two-cent piece and now is required on all U.S. coinage.

MS-60
This is for "Mint State" (the grade) and "60" (the numerical designation of that grade). This is the lowest of the eleven Mint State grades that range from MS60 through MS70. An MS60 coin will usually exhibit the maximum number of marks and/or hairlines. The lustre may range from poor to full, but is usually on the "poor" side. Eye appeal is usually minimal.
See Also -- Mint State

MS-61
This is for "Mint State" (the grade) and "61" (the numerical designation of that grade). This grade meets the minimum requirements of Mint State plus includes some virtues not found on MS60 coins. For instance, there may be slightly fewer marks than on an MS60 coin, or better lustre, or less negative eye appeal.
See Also -- Mint State

MS-62
This is for "Mint State" (the grade) and "62" (the numerical designation of that grade). This grade is nearly in the "choice" or MS63 category, but there is usually one thing that keeps it from a higher grader. Expect to find excessive marks or an extremely poor strike or dark and unattractive toning. Some MS62 coins will have clean surfaces and reasonably good eye appeal but exhibit many hairlines on the fields and devices.
See Also -- Mint State

MS-63
This is for "Mint State" (the grade) and "63" (the numerical designation of that grade). The equivalent of "choice" or "Choice BU" from the days before numerical grading was prevalent. This grade is usually found with clean fields and distracting marks or hairlines on the devices OR clean devices with distracting marks or hairlines in the fields. The strike and lustre can range from mediocre to excellent.
See Also -- Mint State choice

MS-64
This is for "Mint State" (the grade) and "64" (the numerical designation of that grade). This grade is also called "Borderline Gem" at times, as well as "Very Choice BU." There will be no more than a couple of significant marks or, possibly, a number of light abrasions. The overall visual impact of the coin will be positive. The strike will range from average to full and the lustre breaks will be minimal.
See Also -- Mint State

MS-65
This is for "Mint State" (the grade) and "65" (the numerical designation of that grade). This grade is also called "Gem" or "Gem Mint State" or "Gem BU." There may be scattered marks, hairlines or other defects, but they will be minor. Any spots on copper coins will also be minor. The coin must be well struck with positive (average or better) eye appeal. This is a NICE coin!
See Also -- Mint State Gem Gem BU

MS-66
This is for "Mint State" (the grade) and "66" (the numerical designation of that grade). This is not only a Gem-quality coin, but the eye appeal ranges from "above average" to "superb." The lustre is usually far above average, and any toning can not impede the lustre in any significant way. This is an extra-nice coin.
See Also -- Mint State

MS-67
This is for "Mint State" (the grade) and "67" (the numerical designation of that grade). A superb-quality coin! Any abrasions are extremely light and do not detract from the coin. s beauty in any way. The strike is extremely sharp (or full) and the lustre is outstanding. This is a spectacular coin!
See Also -- Mint State

MS-68
This is for "Mint State" (the grade) and "68" (the numerical designation of that grade). A nearly perfect coin, with only minuscule imperfections visible to the naked eye. The strike will be exceptionally sharp and the lustre will glow. This is an incredible coin.
See Also -- Mint State

MS-69
This is for "Mint State" (the grade) and "69" (the numerical designation of that grade). Virtually perfect in all departments, including wondrous surfaces, a 99% full strike (or better), full unbroken booming lustre and show-stopping eye appeal. You may have to study this coin with a 5X glass to find the reason why it didn.'t grade MS70.
See Also -- Mint State

MS-70
This is for "Mint State" (the grade) and "70" (the numerical designation of that grade). A perfect coin! Even with 5X magnification there are no marks, hairlines or lustre breaks in evidence. The lustre is vibrant, the strike is razor-sharp, and the eye appeal is the ultimate. Note: Minor die polish and light die breaks are not considered to be defects on circulation strike coins.

Numismatics
The science of money; coins, paper money, tokens, inscribed bars, and all related items are included.

Numismatist
One who studies or collects money or substitutes thereof.

Obverse
The front or heads side, of a coin. Usually the date side.

Orange-peel surfaces
The dimple-textured fields seen on many Proof gold coins; their surfaces resemble those of an orange, hence the descriptive term. Some Mint State gold dollars and three-dollar gold coins exhibit this effect to some degree.

Original
A term used to describe a coin that never has been dipped or cleaned, or a coin struck from original dies in the year whose date it bears.
See Also -- restrike

Original roll
Coins in fixed quantities wrapped in paper and stored at the time of their issuance. The quantities vary by denomination, but typically include 50 one-cent pieces, 40 nickels, 50 dimes, 40 quarters, 20 half dollars and 20 silver dollars. U.S. coins were first shipped to banks in kegs, later in cloth bags, and still later in rolls. Silver and gold coins stored in such rolls often have peripheral toning and untoned centres. Obviously, coins stored in rolls suffered fewer marks than those in kegs or bags.
See Also -- put-together roll

Original rolls
Rolls of coins that have been together since the day they were removed from their storage bags. Also, rolls of Mint State coins that have never been searched or "picked over."

Original toning
Term for the colour acquired naturally by a coin that never has never been cleaned or dipped. Original toning ranges from the palest yellow to extremely dark blues, grays, browns, and finally black.

Over -mintmark
A coin struck with a die on which one mintmark is engraved over a different mintmark. In rare instances, branch mints returned dies that already had mintmarks punched into them; on occasion, these were then sent to different branch mints and the new mint punched its mintmark over the old one. Examples include the 1938-D/S Buffalo nickel and the 1900-O/CC Morgan dollar.

Patina
Synonym for toning.

Pattern
A test striking of a coin produced to demonstrate a proposed design, size, or composition (whether adopted or not). Patterns often are made in metals other than the one proposed; examples of this include aluminium and copper patterns of the silver Trade dollar. Off-metal strikes such as this also are referred to as die trials of a pattern.

PCGS
Short for . Professional Coin Grading Service. .

Pedigree
A listing of a coin. s current owner plus all known previous owners.

Peripheral toning
Light, medium, or dark colouring around the edge of a coin.

Piedfort
A term that means "double thick," it usually refers to French coins that were made in a double thickness to signify double value. Sometimes spelled Piefort.

Pioneer gold
Those privately-issued gold coins struck prior to 1861. These include coins struck in Georgia and North Carolina although no . pioneers. were responsible for the gold mined in those states. Generally associated with the private issues from California and the other post-1848 finds in Nevada, Oregon, and Colorado.

PL
Short for proof like.

Plain edge
A flat, smooth edge seen mainly on a small-denomination coinage.
See Also -- lettered edge reeded edge

Planchet
The blank disk of metal before it is struck by a coining press which transforms it into a coin. Type I planchet.s are flat. Type II planchets have upset rims from the milling machine, these to facilitate easier striking in close collars.
See Also -- blank

Planchet defects
Any of the various abnormalities found on coin blanks. These include drift marks, laminations, clips, and so forth.

Planchet flaw
An irregular hole in a coin blank, sometimes the result of a lamination that has broken away.

Planchet striations
Fine, incuse lines found on some Proof coins, though rarely on business strikes, usually the result of polishing blanks to impart mirror like surfaces prior to striking.

Plugged
A term used to describe a coin that has had a hole filled, often so expertly that it can only be discerned only under magnification.

Polished die
A die that has been basined to remove clash marks or other die injury. In a positive sense, Proof dies were basined to impart mirror like surfaces, resulting in coins with reflective field.

Pop Report
Short for . Population Report..

PQ
Short for premium quality.

PR
Short for Proof.

Premium quality
A term applied to coins that are the best examples within a particular grade.

Pristine
A term applied to coins in original, unimpaired condition. These coins typically are graded MS/PR-67 and higher.

Proof
A coin usually struck from a specially prepared coin die on a specially prepared planchet. Proofs are usually given more than one blow from the dies and are usually struck with presses operating at slower speeds and higher striking pressure. Because of this extra care, Proofs usually exhibit much sharper detail than regular, or business, strikes. recognizes Proofs (PR) as those struck in 1817 and later. Those coins struck prior to 1817 are recognized as Specimen strikes (SP).

Proof set
A coin set containing Proof issues from particular year. A few sets contain anomalies such as the 1804 dollar and eagle in 1834 presentation Proof sets.

Proof dies
Specially prepared dies, often sandblasted or acid-picked, that are used to strike Proof coins. Often, the fields are highly polished to a mirror like finish, while the recessed areas are left . rough. ; on coins struck with such dies, the devices are frosted and contrast with highly reflective fields. Matte, Roman, and Satin Proof dies are not polished to a mirror-like finish.

Proof-only issue
A coin struck only in Proof, with no business-strike counterpart.

Proof-like
Term to designate a coin that has mirror-like surfaces, the term especially applicable to Morgan dollars. Those Morgan dollars that meet proo- like standards are designated PL.

Provenance
Term synonymous with pedigree.

Punch
A steel rod with a device, lettering, date, star, or some other symbol on the end which was sunk into a working dies by hammering on the opposite end of the rod.

Put-together roll
Term applied to a roll of coins that is not original, usually the best condition coins have been removed and replaced with lesser quality coins. (It is not unusual to find slightly circulated coins in such rolls.)

Quarter Eagle
Correct terminology for a two-and-one-half dollar gold coin. This denomination, two and one half dollars or one fourth of an eagle, was first struck in 1796, struck sporadically thereafter, and discontinued in 1929.

Questionable toning
Term to describe the colour on a coin that may not be original. After a coin is dipped or cleaned, any subsequent toning, whether acquired naturally or induced artificially, will look different than original toning. Graders will not grade coins with questionable colour.

Racketeer nickel
A gold-plated 1883 No . CENTS. Liberty Head five-cent coin (. V. nickel). The story goes that a deaf-mute gold-plated these unfamiliar coins and would buy something for a nickel or less. Sometimes, he was given change for a five-dollar gold piece since the V on the reverse could be interpreted as either five cents or five dollars! (They have also been gold-plated since that time to sell to collectors.)

Rainbow toning
Term for toning which is usually seen on silver dollars stored in bags. The . colours of the rainbow. are represented, stating with pale yellow, to green, to red, to blue, and sometimes fading to black.

Rare
A relative term indicating that a coin within a series is very difficult to find. Also, a coin with only a few examples known. A rare Lincoln cent may have thousands known while a relatively common pattern may only have a few dozen known.

Rarity
The number of specimens extant of any particular numismatic item. This can be the total number of extant specimens or the number of examples in a particular grade and higher. (This is referred to as condition rarity.)

Rarity scale
A term referring to a numerical-rating system such as the Universal Rarity Scale.

Raw
Numismatic slang for a coin or other numismatic item that has not been encapsulated by a grading service.

Restrike
A coin struck later than indicated by its date, often with different dies. Occasionally, a different reverse design is used, as in the case of restrike 1831 half cents made with the reverse type used from 1840-1857.

Retoned
A term used to describe a coin that has been dipped or cleaned and then has reacquired colour, whether naturally or artificially.

Reverse
The back or 'tails' side, of a coin. Usually opposite the date side.

Rim
The raised area around the edges of the obverse and reverse of a coin. Pronounced rims resulted from the introduction of the close collar, first used in 1828 for Capped Bust dimes. (The Mint experimented with close-collar strikings as early as 1820.)

Rim ding
Slang for rim nick

Rim nick
Term for a mark or indentation on the rim of a coin or other metallic numismatic item.

Roll
A set number of coins . rolled up. in a coin wrapper. In old times, a roll meant the coins were rolled up in a paper wrapper, today they are likely to be slid into a plastic coin tube. Groups of nineteenth century coins are sometimes referred to as rolls when they exist in sufficient quantities even when they might not have come in rolls during their years of issue nor are they currently in a roll! (Cents are 50 to a roll, nickels 40 to a roll, dimes 50 to a roll, quarters 40 to a roll, half dollars 20 to a roll, and dollars 20 to a roll. Gold coins are sometimes seen in rolls but the number of coins vary. Rolls of five dollar and twenty dollar coins have been rolled 20, 40, and 50 to a roll . other variations are certainly possible. Gold dollars, quarter eagles, three-dollar coins, and eagles have also been seen in rolls of varying quantities.)

Roll friction
Minor displacement of metal, mainly on the high points, seen on coins stored in rolls.

Rolled edge
Term synonymous with rim (the raised edge around a coin). This has become part of the vernacular because of the Rolled Edge Indian Head eagle.

Roman finish
An experimental Proof surface used mainly on U.S. gold coins of 1909 and 1910. This is a hybrid surface with more reflectivity than Matte surfaces but less than brilliant Proofs. The surface is slightly scaly, similar to that of Satin Proofs.

Saint
Slang for the Saint-Gaudens inspired double eagle struck from 1907 until 1933. (The 1933 issue is currently considered illegal to own as the government insists that none of this date were legally released.) This low relief copy of the Extremely High Relief and High Relief designs was the work of Chief Engraver Charles Barber.

Saint-Gaudens
Last name of Augustus Saint-Gaudens, the pre-eminent sculptor of the late nineteenth and early twentieth century. At the request of President Teddy Roosevelt, he redesigned the eagle and double eagle in 1907 although he died mid-production. Also, slang for the Liberty Head double eagle or Saint.

Satin finish
Another of the experimental Proof surfaces used on U.S. gold coins after 1907. The dies were treated in some manner to create the silky surfaces imparted to the coins.

Satin lustre
Fine, silky lustre seen on many business strike coins, especially copper and nickel issues. Almost no .cartwheel. effect is seen on coins with this type of lustre.

Scratch
A detracting line that is more severe than a hairline. The size of a coin determines the point at which a line ceases to be viewed as a hairline and instead is regarded a scratch; the larger the coin, the greater the tolerance. A heavy scratch may result in a coin not being accepted for grading.

Sea salvage coin
A coin retrieved from the ocean, usually from a ship wreck. The conception that these coins will have pitted surface has been exploded by the recent Brother Jonathon and Central America recoveries. These coins do not have pitted surfaces! The action of the shifting tides evidently causes sand to . blast. the surface of some coins, while others protected from this action retain nearly intact Mint lustre.

Semi-common
Term to denote coins that are neither scarce nor common. An example would be Uncirculated 1903 Morgan dollars.

Semi-numismatic
Term indicating a coin that has a significant bullion value and some numismatic value. The most recognized examples are Liberty Head and Saint-Gaudens double eagles.

Semi-proof like
A term used to describe a coin that has some mirror-like surface mixed with satin or frosty lustre. Reflectivity is obscured on such a specimen, unlike the reflectivity on proof like and deep mirror proof like coins.

Series
A particular design or motif used over a period of time. This can used for a single denomination, or in some cases, used for several denominations. The Liberty Seated series encompasses five denominations, the Barber series three, etc.

Shotgun rolls
This term has two definitions. The first refers to rolls of coins that contain double the normal amount of coins in a roll. For instance, a shotgun roll of silver dollars contains 40 coins. The name derives from the length of the rolls being similar to the length of a shotgun shell. These double rolls were common and popular during the great roll boom of the 1960s. The second definition of "shotgun roll" refers to a paper-wrapped roll that is machine-crimped like the end of a shotgun shell.

Silver commem
Short for silver commemorative coins.

Silver commemoratives
Originally, those commemorative coins struck from 1892 until 1954, although not in every year. These are all struck in 90% silver and 10% copper alloy. Of course, those post-1982 silver commemorative issues also could technically be so called.

Slab
Numismatic slang for the holder in which a coin is encapsulated by a grading service. The coin contained therein is said to be slabbed.

Slabbed
The process of sending a coin to a third-party grading service to have it authenticated, graded, and encapsulated in a sonically sealed holder.

Slider
A term used to describe an AU coin that looks like, or can be sold as, Uncirculated. Occasionally used as a reference to another grade; a slider EF coin, for example, would be a VF/EF coin that is nearly EF.

Specimen
Term used to indicate special coins struck at the Mint from 1792-1816 that display many characteristics of the later Proof coinage. Prior to 1817, the minting equipment and technology was limited, so these coins do not have the . watery. surfaces of later Proofs nor the evenness of strike of the close collar Proofs. designates these coins SP.

Steel cent
Common name for the 1943 cents (and certain 1944 cents struck on left-over steel blanks) struck in steel and plated with zinc.

Strike . n.
Term to indicate the completeness, or incompleteness, of a coin. s intended detail. v. The act of minting a coin.

Surface preservation
The condition of the surface of a coin. On weakly struck coins, this is a better indicator grade than is the coin's detail.

Token
A substitute for a coin. These have been issued in the past and are still currently issued in huge quantities. Older ones were generally issued by stores and may not have been accepted at other establishments. The same is true today for most tokens, such as the gaming tokens issued by casinos, these being valid only at that particular establishment (or other casinos affiliated with the same owners).

Toning
The term for the colour seen on many coins. There are infinite shades, hues, and pattern variations seen, the result of how, where, and how long a coin is stored. Every coin begins to tone as it leaves the die, as all United States coins contain reactive metals in varying degrees.

Tooling mark
A line, usually small and fine, found on both genuine and counterfeit coins. On genuine coins, such lines result when Mint workmen touch up dies to remove remnants of an overdate or other unwanted area. On counterfeits, they often appear in areas where the die was flawed and the counterfeiter has attempted to 'fix' the problem.

Trade dollar
A U.S. silver coin, issued from 1873 until 1885, slightly heavier than the regular silver dollar and specifically intended to facilitate trade in the Far East-hence its name. Trade dollars were made with this marginally higher silver content than standard silver dollars in an effort to gain acceptance for them in commerce throughout the world.

Troy weight
A measuring system used when weighing gold, silver and the coins made from those metals. There are 480 grains (or 20 pennyweights) in a troy ounce. There are twelve troy ounces in a troy pound.

Type
A variation in design, size, or metallic content of a specific coin design. Examples include the Small and Heraldic Eagle types of Draped Bust coinage, Large-Size and Small-Size Capped Bust quarters, and the 1943 Lincoln cent struck in zinc-coated steel.

Type coin
A representative coin, usually a common date, from a particular issue of a specific design, size, or metallic content.

Ultra High Relief
Alternate name for the Extremely High Relief.

Ultra rarity
Term used for a coin or other numismatic item that is represented by only a few examples.

Unc
Short for uncirculated.

Uncirculated
Term to indicate a coin or numismatic item that has never been in circulation, a coin without wear. See . Brilliant Uncirculated,. . Mint State,. and . new..
See Also -- brilliant Uncirculated Mint State new

Under bidder
The individual or entity that executed the bid preceding the winning bid. Close, but no cigar.

Universal Rarity Scale
A collectibles rarity information scale developed in 1998 by 21 major collectibles experts in order to both define rarity within their individual markets and allow collectors and dealers from different collectibles markets to more easily communicate with one another. The Universal Rarity Scale is a 10 point scale. The least rare collectible items are those where more than 10,000 examples are estimated to exist. These items are designated . UR1. and are described as . readily available.. The rarest items are those where only one example is known to exist. These rarities are designated . UR10. and are described as . unique..

VAM number
Unique number assigned to each die combination of Morgan and Peace dollar known to the authors of The Complete Catalogue and Encyclopaedia of United States Morgan and Peace Silver Dollars. Called VAM because of the authors Leroy Van Allen and A. George Mallis.

Variety
A coin of the same date and basic design as another but with slight differences. Recognizes all major varieties while there are thousands of minor varieties, most of which have significance only to specialists of the particular series. After hubbed dies, introduced in the 1840s, varieties are mainly variations in date and mintmark size and placement.

Vest pocket dealer
A part-time coin merchant. The term originated with those individuals who roamed the bourse floor ready to whip out of their vests, or waistcoats, a small plastic coin binder containing coins in two-by-two cardboard holders. Today, not one-in-a-thousand individuals wear a vest, but the moniker stuck.

Watery look
A phenomenon seen on the surfaces of most close-collar Proof coins. Highly polished planchets and dies give the surfaces an almost 'wavy' look-hence the term.

Weak strike
A term used to describe a coin that does not show intended detail because of improper striking pressure or improperly aligned dies.

West Point Mint
The West Point Mint was originally opened in 1937 as a bullion depository and was officially designated by Congress as a Mint on March 31, 1988. This mint manufactures American Eagle uncirculated and proof coins, manufactures all sizes of the proof and uncirculated silver, gold and platinum American Eagle coins, manufactures commemorative coins that Congress mandates, and stores platinum, gold and silver bullion. This mint uses the . W. mintmark.

Wire edge
The thin, knife-like projection seen on some rims created when metal flows between the collar and the dies. Also, slang for the Wire Edge Indian Head eagle of 1907.
See Also -- knife edge wire rim

Wire Edge eagle
The 1907 Indian Head eagle for which only 500 coins were struck. Technically, a pattern, this design featured a fine wire rim and surfaces unlike any other United States issue. The fields and the devices of the die were heavily polished leaving myriad die striations that transferred to the struck coins. With a combination of satiny and striated surfaces, these rare coins have a look of their own. Often, unknowledgeable numismatists will look at one of these specimens and declare it hairlined or harshly cleaned.

Wonder coin
Slang for a coin whose condition is particularly superb.

Working die
A die prepared from a working hub and used to strike coins.

Working hub
A hub created from a master die and used to create the many working dies required for coinage.

World Coins
Term applied to coins from countries other than the United States.

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