TrustedTraditions.com - Glossary

Definitions for Frequently Used Numismatic Terms

A B C D E F G H I J L M N O P Q R S T U V W

Abrasions - Light rubbing or scuffing from friction. Not the same as hairlines or bag marks.

Adjustment Marks - Small striations or file marks found on early United States coins. Caused during planchet preparation (before striking) by drawing a file across the coins to remove excess metal so as to reduce the planchet to its proper weight. The result is a series of parallel grooves.

Allied Military Currency - notes used in WWII by Allied military forces. These were issued for use in such places as France, Germany, Italy, and Japan.

Alloy - A combination of two or more metals.

Alteration - The tampering with a feature of a coin's surface such as the date, mint mark, etc. to give it the appearance of being another date, mint mark, or variety. An illegal practice.

Altered Date - A false date on a coin-a date altered to make a coin appear to be one of a rarer or more valuable date.

AU - About Uncirculated.

Average Circulated - A grade used to describe a coin based on its age. For example: A 1900 Barber quarter in "Average Circulated" Most likely will grade About Good, whereas a 1955 Washington quarter in "Average Circulated" most likely will be in Fine or Very Fine condition.

Bag Mark - A surface mark, usually a small nick, acquired by a coin in contact with others in a mint bag.

BEP - Bureau of Engraving and Printing. The agency that prints our money. They have facilities localed in Washington, DC and Fort Worth, TX.

Bilingual - Referring to the inscription on a coin that is in two languages.

Block - Prefix and Suffix letter combination of serial number.

Bullion - Base silver, usually a low grade mixture of silver and copper.

Bit - Cut piece from a Spanish Milled Dollar or Piece of Eight. A bit from this dollar was worth 12 1/2 cents. Therefore the slang expression "two bits" refers to a quarter dollar.

Blank - An unstruck planchet.

Blemishes - Minor nicks, marks, flaws or spots of discoloration that mar the surface of a coin.

Bourse - A sales room for dealers at a coin show.

Branch Mint - Any federal coining facility except the Philadelphia Mint.

Bracteate - A very thin medieval European coin with the design impressed on one side showing through to the other side.

Brockage - A miss struck coin, generally one showing the normal design on one side and an incuse mirror image of this design on the other side.

Broken Bank Note - Privately issued paper money of the nineteenth century. Most firms or individuals issuing such currency went "broke," therefore the term broken bank note.

Bronze - An alloy of copper, zinc, and tin.

Bullion - Uncoined gold or silver in the form of bars, ingots or plate.

Business Strike - A coin intended for circulation in the channels of commerce (as opposed to a proof coin specifically struck for collectors).

Bust - Device including head, neck, and some part of shoulder or chest.

Cameo - Devices in relief or embossed. Cartwheel - large coin, generally of silver dollar size or larger.

Cancelled Note - One which has had its legal tender status removed and been declared worthless. Cancellation may be performed by punch or pin perforation, cut cancellation or an overprint.

Cash - A copper coin of China with a square hole for stringing.

Cast Coins - Coins which are made not in the usual manner of striking with dies, but by pouring molten metal into a mold.

Cent - One one-hundredth of the standard monetary unit. Also called Centesimo in Italy, Centime in France and Switzerland, Centavo in Mexico and some Central and South American countries, and Centimo in Spain and Venezuela, etc.

CH - Choice

Cherrypick - To recognize and buy a rarer variety which had been offered as common.

Choice - An adjective used to describe an especially select specimen of a given grade. Thus, Choice EF-45 represents and especially select Extremely Fine coin (normal or typical Extremely Fine being EF-40).

Chop Mark - Merchant's test mark (usually Chinese) punched into a coin to verify its weight.

Circulated - Released to the general public. Showing signs of wear from being passed from hand to hand.

Civil War Token - Unofficial pieces made to approximate size of current U.S. cents and pressed into circulation during the Civil War because of a scarcity of small change.

Clad Coinage - Issues of United States dimes, quarters, halves, and dollars made since 1965. Each coin has a center core, and a layer of copper-nickel or silver on both sides of the coin.

Clash Marks - Impressions of part of a device or legend of one die onto the field of the die facing it in the press. Caused by the dies striking each other at normal coining force without a planchet between them.

Cleaning - Refers to removing dirt or otherwise altering the appearance of a coin through the use of chemical or abrasive materials that damage or scratch the surface in a detectable fashion. Cleaning is different than whizzing or mechanical alteration of the surface. A gentle cleaning in water or solvent that leaves no marks or residue is usually not considered harmful. Cleaning by either mechanical or chemical means that are detectable will generally result in lowering the grade and value of a coin.

Cob Money - Crude irregular silver coins of Spain, Central and South America.

Colonial Currency - Specifically the paper money issues in North America while under the rule of Great Britain prior to the Revolution, from 1690 to 1774.

Commemorative - A coin issued to mark a special event or to honor an outstanding person.

Continental Currency - These were banknotes issued during thr American Revolution from 1775 to 1779 by the Continental Congress. The expression "Not worth a Continental" comes from the fact that the currency rapidly lost its value during the war. Today, of course, these notes are highly valued by collectors.

Coppers - Generic late 18th-century term for copper coins.

Counterfeit - Unauthorized imitation of a coin or note.

Countermark - Or sometimes called counterstamp is a stamp or mark impressed on a coin to verify its use by another government, or to indicate revaluation.

Crown - A dollar-size silver coin, specifically one of Great Britain.

CU - Crisp Uncirculated.

Cud - Lump on a coin struck from a die which a piece has broken off.

Demand Note - First issued in 1861, this was the first U.S. Federal Currency made during the Civil War..

Denarius - The standard Roman silver coin.

Designer - The artist who creates a coin's design. The engraver is the person who cuts a design into a coinage die.

Details - Small features and fine lines in a coin design. Particularly those seen in hair leaves, wreaths and feathers.

Device - Principal design element.

Die - A piece of metal engraved with a design for use in stamping coins.

Die Crack - A fine raised line on a coin caused by a broken die.

Die Defect - An imperfection on a coin caused by a damaged die.

Die Variety - A variation of a design attributed to a particular die. For example, among United States cents of 1793 over a dozen different dies were used, all hand-cut, and each a different die variety.

Dipping - Refers to removing tarnish, surface dirt or changing the coloration of a coin by applying chemicals, or otherwise artificially treating it with liquids.

Disme - One tenth of a dollar. An early spelling of the word "dime."

Double Eagle - A United States $20.00 gold coin.

Double-Struck - Said of any coin which has received two impressions from the working dies in accidentally imperfect alignment.

Double Die - A die that received one of its several blows from a hub or device punch in accidentally imperfect alignment.

Doubloon - A Spanish-American gold coin originally valued at $16.00.

Drachma - The standard Greek monetary unit. A small silver coin approximately equal to the Roman denarius.

Ducat - A popular gold coin used by several European countries. Originally an Italian coin of the twelfth century.

Eagle - A United States $10.00 gold coin. Name also applies to gold bullion coins.

Educational Note - This refers to any of three issued U.S. large size silver certificates from the 1896 series. They are $1, $2, and $5 denominations and are considered by many to be the ultimate in beauty as far as U.S. paper currency is concerned.

EF - Extremely Fine.

Electrotype - A counterfeit coin made by the electroplating process.

Electrum - A natural mixture of gold and silver.

Engraving - Engraving of currency is a reverse process wher grooves are scraped into metal plates by the use of sharp instruments. Ink was applied over the copper plates and then the excess is removed. Only the ink in the grooves would remain. The plate is then pressed against the paper and the ink transfers to the paper giving a clear impression of the image on the plate. Also know as "Intaglio" printing.

Error Note -Any banknote which after printing is not of the quality intended for release, for whatever reason. It may be smudged, be lacking some part of the printing, the serial numbers might not match up, etc.

Exergue - That portion of a coin beneath the main design generally separated by an exergual line.

F - Fine.

Fantasy Note - This is a fake note of a design or denomination that may not even exist. Some of these can look quite real to the casual observer.

Federal Reserve Bank - A district or branch bank of the U.S. Federal Reserve System.

Federal Reserve Bank Note - This is a special type of U.S. currency issued sporadically from 1915 to 1933 by the country's Federal Reserve Banks.

Federal Reserve Note - Sounds like the above but actually these notes are issued throught the Federal Reserve banking system but backed up by the Federal Government and comprise almost all of the notes you'll encounter in circulation today. They've been around in one form or another since 1914.

Federal Reserve System - Created in 1913, the Federal Reserve System is a monetary organization that regulates the creation of U.S. Currency.

Field - That portion of a coin's surface not used for a design or inscription.

Fillet Head - The head of Liberty on United States coins with hair tied with a band, generally on the forehead.

Fineness - The purity of gold or silver, always expressed in terms of one thousand parts.

First Strike - An unofficial term referring to a coin struck shortly after a new die is put into use. Such coins often have proof like surfaces and resemble proofs in certain (but not all) characteristics. Resurfaced previously-used dies sometimes also have these characteristics.

Flan - A blank piece of metal in the size and shape of a coin. Also called planchet.

Flyspecks - Minute oxidation spots often seen on the surfaces of coins, particularly higher grade copper and nickel coins, caused by exposure to small drops of moisture.

Foxing - This may be considered sort of the paper money hobby's equivalent to toning on a coin, except that the yellow-brown stains of varying intensity which are generally undesireable, whereas toning on a coin may be desireable, depending upon who you talk to. Generally considered a minor defect unless its a really noticeable stain.

Fractional Currency - Fractional Currency developed during the Civil War as an answer to the shortage of currency caused by public hoarding. Values ranged from 3 to 50 cents and were printed until 1876.

Federal Reserve Bank - A district or branch bank of the U.S. Federal Reserve System

FRBN - Federal Reserve Bank Note.

FRN - Federal Reserve Note.

G - Good.

GC - Gold Certificate.

Gem - Applied to an Uncirculated or Proof coin or note, denotes "flawless" and suggest "high aesthetic quality."

Gold Certificate - A note issued by the U.S. which was at one time redeemable in gold coin for the face value. Issued between 1893 and 1922, these certificates are all still worth their face value today but can no lponger be exchanged for gold. Other countries have issed notes redeemable in gold from time-to-time.

Grade - The condition or amount of wear that the specimen has received. Generally, the less wear a coin/note has received, the more valuable it is. In this reference, coins/notes are graded on the ANA numerical system from About Good-3 to Perfect Uncirculated-70.

Greenback - This term generally refers to all of the U.S. Federal Government issued notes since 1861, even though some of them don't have green backs

Guilloche - This is the technical name for a geometric design found on many banknotes. Generally thes guilloches are used not only to make the note look pretty but to make it tough to copy, thus they are a security device.

Hairlines - A series of minute lines or scratches, usually visible in the field of a coin, caused by cleaning or polishing.

Half Eagle - A United States $5.00 gold coin.

Handsigned Note - One which has one or more actual autogtaphed signatures of an authorized person. Signatures may also be engraved or handstamped.

Hologram - A special type of photographic film used in 3D imaging. These are sometimes used as a security device such as the new style U.S. currency.

Hard Times Tokens - Pieces either of a political or advertising nature, privately made and used as money during most of Andrew Jackson's presidency (1834-1841). These were the approximate size of the then-current U.S. large cent.

High Points - Areas of highest relief in a coin design. The first small parts to show evidence of wear or abrasion, and also the last areas to strike up fully.

Hub - A specialized die used not for striking coins but for imparting designs to working dies.

Impaired Proof - A proof which has been damaged either by careless handling or circulation.

Incuse - The design of a coin which has been impressed below the coin's surface. When the design is raised above the coins surface it is said to be in relief.

Inscription - The legend or lettering on a coin.

Interest Bearing Note - This is a piece of currency upon which is written a promise to pay interest after a specified passage of time.

Jeton - A small medal, counter, or token.

Laureate - Head crowned with laurel wreath.

Legend - The principal inscription on a coin.

Lettered Edge - The narrow edge of a coin bearing an inscription, found on some foreign and older United States coins.

Lintmarks - Small incuse or incised marks on the surface of a Proof or Uncirculated coin caused by stray hairs, threads, and the adhering to the die after it was wiped with an oily rag.

Luster - The glossy mint bloom on the surface of an Uncirculated coin. Although normally brilliant, with time luster may become dull, frosty, spotted or discolored.

Matte Proof - A special type of proof finish used at the Philadelphia Mint prior to World War I. This method was first employed by the Paris Mint and was later adopted for a limited time during the 1908-1916 years for certain (but not all) issued by the Philadelphia Mint. The surface is prepared by a special process which gives it a grainy appearance.

Maundy Money - Small English silver coins specially struck for distribution by the reigning monarch on Holy Thursday.

Micro - Very small or microscopic.

Milled Edge - A raised rim around the outer surface of a coin. Not to be confused with the reeded or serrated narrow edge of the coin.

Military Payment Certificate (MPC) - These certificates comprise several series of U.S. military notes issued solely for use by its military and only in establishments of the U.S. Armed Forces. The idea behind these was to prevent or limit activities by military forces with respect to the black market.

Mint Error - A misstruck or defective coin produced by a mint.

Mint Luster - The "frost" on the surface of an Uncirculated or "Mint State" coin. Caused by a series of microscopic lines formed during the striking process.

Mint Mark - A symbol, usually a small letter, used to indicate at which mint a coin was struck.

Mint Set - Group of Uncirculated coins of one date, as sold by the mint in the year of issue.

Mint State - Same as Uncirculated. A coin free of any trace of wear.

Mintage - The process of striking coins. Quantity coined.

Modification - A minor alteration in the basic design of a coin.

Moneyer - An authorized mint master or coiner.

Motto - An inspirational word or phrase used on a coin.

Mule - A coin struck from dies not originally intended to be used together.

National Bank Notes - After the National Banking Act of 1863 over 14,000 banks were permitted to issue and circulate their own currency. Every charter bank was given the right to issue up to 90% of the value of bonds that were on deposit with the government. This gradually became acceptable to the public. This era lasted until the market crash of 1929 which ruined a large number of banks and ended the public's confidence in this system.

National Gold Notes - As the gold rush of the 1840's brought large amounts of gold into the barter system and them found its way into coinage. The California Banks petitioned to be allowed to issue paper money rather than the coins. On July 12, 1870 nine banks were given the right to issue notes.

Nick - A small mark on a coin caused by another coin bumping against it or by contact with a rough or sharp object.

Noltgeld - Emergency money, including coins and paper. Usually, that issued by Germany during the World War I inflationary period. Obverse - The front or face side of a coin, generally the side with the date and the principal design.

Numismatist - A student or collector of coins, medals or related items.

Obverse - The front or face side of a coin, generally, the side with the date and the principal design.

Off Center - Said of a coin only partly resting within the coining chamber at striking.

Overdate - A date made by superimposing one more numbers on a previously dated die.

Overgrading - Giving a coin a higher grading description than it merits.

Overmintmark - Variety in which a Mintmark is overpunched in the die with a different one.

Overprint - This is an extra printing which has been added to a note sometime after the note's original issue and it's been added by the authorized issuer or successor. These overprints may serve as cancellations or as a means of changing the value of a note.

Overstrike - An impression made with new dies on a previously struck coin.

Patina - A green or brown surface film found on ancient copper and bronze coins caused by oxidation over a long period of time.

Pattern - An experimental or trial coin, generally of a newer design, denomination or metal.

Piece of Eight - Spanish-American silver dollar-size coin used extensively in trade throughout the world during the seventeenth and eighteen centuries. The forerunner of the American silver dollar.

Plate Number - A small number that sometimes appears on currency showing the number of the plate used to print it. These numbers are especially in use on U.S. money. If you've heard the term "web note", you would use the location and style of plate number to determine whether or not you have a web note, that is, a U.S. Federal Reserve Note that has been printed within the last several years on an expermential web printing press.

Plate Position - Letter and number combination, found on most U.S. currency, denoting where on a full sheet (typically cloumn and row) a note was printed.

Processing - A term describing the mistreatment of a coin by wire brushing, acid dipping, or otherwise abrading or eroding the surface in an effort to make it appear in a higher grade than it actually is. Processed coins must be specifically described as such.

Proof - Coins struck for collectors using specially polished or otherwise prepared dies.

Prooflike - An exceptional production coin, struck from brilliantly polished dies on a blank which may or may not also have been polished before striking.

Proof Set - Group of proof coins of one date, as sold by the mint in the year of issue.

Quarter Eagle - A United States two and a half dollar gold coin.

Radar Note - One whose serial number reads the same, forward or backward. Some collectors collects these types of notes.

Rare - Said of a coin/note of which only a limited number exist in collectors' hands.

Red Seal - Nickname for U.S. Notes/Legal Tender Issues because of their distinctive bright red seals.

Reeded Edge - The edge of a coin with grooved lines that run vertically around its perimeter. The edge found on all modern United States coins other than cents and nickels.

Refunding Certificates - The Refunding Certificate is a cross between a bond and a security. Issued by a Congressional Act in 1879, these ten dollar notes could be spent or traded as normal currency while earning 4% interest.

Relief - Any part of a coin's design that is raised above the coin's surface is said to be in relief. The opposite of relief is incuse.

Replacement Note - Another term for "Star Note".

Restrike - A coin struck from a genuine die at a date later than the original issue.

Reverse - The side of a coin carrying the design of lesser importance. Opposite of the obverse side.

Ribs or Ribbing - The fine vein liens on the surface of a leaf.

Rim - The raised portion of a coin encircling the obverse and reverse which protects the designs of the coin from wear.

Roman Finish Proof - A special finish on proof coins minted at Philadelphia 1909-1910.

Sandblast Proof - Special type of proof coin produced at the Philadelphia Mint for certain issues circa 1908-1915. Made by blowing fine particles of sand against the coin's surface. Similar in appearance to a matte proof.

SC - Silver Certificate.

Scarce - In short supply, but with more survivors accessible than of a coin labeled rare.

Scratch - A deep line or groove in a coin caused by contact with a sharp or rough object.

Script - Paper money other than regular government currency.

Series - One coin of each year issued from each mint of a specific design an denomination, e.g., Buffalo Nickels 1913-1938.

Siege Pieces - Emergency coins struck during battle, also called obsidional coins or money of necessity.

Silver Certificate - A U.S. Banknote which payment of its face value by the U.S. Treasury is guaranteed is silver. These are still legal tender but are noonger redeemable for silver.

Security Strip - The special strip of material inserted into a note during manufacture that may be magnetic or glow under ultraviolet light to make counterfeiting more difficult. The more recent U.S. Federal Reserves Notes from denominations $5 up have a security strip in them.

Series - One coin of each year issued from each mint of a specific design and denomination, e.g. Morgan dollars from 1878-1921.

Shinplaster - Slang term for early United States paper money and fractional currency.

Slider - Current slang for a coin objectively Extremely Fine or About Uncirculated but salable as Mint State, particularly after cleaning and possibly recoloring.

Specimen - A sample currency note, often but not always with serial numbers of all zeros. The original purpose of such notes was to provide banks and other agencies with examples of newly issued money. Some of these were regular issue notes simply overstamped "SPECIMEN" in the language of the issuing nation.

Star Notes - MOdern note with a star symbol in the serial number distinguishing it as a replacement for a note that was removed because it contained a flaw that was caught. Earlier U.S. currency such as Treasury notes contain stars but are not considered Star Notes.

Striations - Thin, light raised lines on the surface of a coin, caused by excessive polishing of the die.

Striking - Refers to the process by which a coin is minted. Also refers to the sharpness of design details. A sharp strike or strong strike is one with all the details struck very sharply; a weak strike has the details lightly impressed at the time of coining.

Token - A privately issued piece with an exchange value, but not an official government coin.

Toning - Natural patination or discoloration of a coin's surface caused by the atmoshpere over a long period of time. Toning is very attractive, and many collectors prefer coins with this feature.

Trade Dollar - Silver dollar issued especially for trade with a foreign country. In the United States, trade dollars were first issued in 1873 to stimulate trade with the Orient. Other countries have also issued tradedollars.

Treasury Notes - Also called "Coin" Notes began in 1890 and ended in 1891. They were authorized as redeemable for silver or gold coinage and never attained popularity and they were short lived.

Truncation - The sharply cut off bottom edge of a bust.

Type - A coin's basic distinguishing design.

Uncirculated - A Mint State coin free of any trace of wear.

Uncut Sheet - this refers to a full sheet of paper money which is how it is printed before being cut up. Modern U.S. currency is printed 32 notes to a sheet. Earlier sheet were printed only 4, 8, or 16 notes to a sheet. Current U.S. Notes are available from the Bureau of Printing & Engraving is full and partial sheet form.

Unique - An item of which one specimen only is known to exist.

VF - Very Fine.

VG - Very Good.

Variety - Any coin recognizably different in dies from another of the same design, type, date and mint.

Vignette - This is any picture or scene on a note other than a portrait.

Wartime Silver - Coinage metal for 5� pieces, October 1942 to December 1945, consisting of 35% silver, 56% copper, 9% manganese.

Watermark - During the production of some paper, a special mark or design is implanted into the paper which is visible or fully visible when the paper is held up to the light. Watermarks have been used by many counties as a security device for their notes. The new style U.S. Notes all have watermarks of the respective portraits who are then printed on the note.

Weak Strike - A coin with certain of its details (in the areas of high relief) not fully formed because of the hardness of alloy, insufficient striking pressure or improper die spacing.

Wear - The abrasion of metal from a coin's surface caused by normal handling and circulation.

Whizzing - The alteration of a coin's appearance by use of a rotating bristled (wire or other material) brush to move or remove metal from the surface. This process generally gives a coin the artificial appearance of being in a higher grade than it actually is. Areas of a whizzed coin usually show a series of minute scratches or surface disruptions simulating artificial luster, and the buildup of metal ridges on raised letters or other design features.

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