Assay - To analyze and determine the purity of metal.
Bag Mark - A mark on a coin from contact with other coins in a mint bag.
Bank Note - A form of legalized paper currency issued by a bank.
Bullion - Uncoined gold or silver in the form of bars, plates, etc.
Business Strike - A coin intended for circulation (as opposed to a Proof coin specially made for collectors).
Bust - A portrait on a coin, usually including the head, neck and upper shoulders.
Clad Coinage - Coins with a core and outer layer of differing substance. U.S. Dimes, Quarters, Half Dollars and Dollars have been clad since 1965.
Collar - A metal piece that restrains the expanding metal of a planchet during striking.
Commemorative - A coin of special design, issued to honor an outstanding person, place or event in history.
Condition - The physical state of a coin.
Counterfeit - A coin or piece of currency imitating a genuine article and intended to deceive buyers or users.
Currency - Any medium of exchange including coins, paper money and other items of value used in daily commerce.
Denomination - The value represented by specific currency, such as a Nickel, Dime or Dollar.
Date Collecting: Building a collection of coins containing one issue from each year, regardless of the mint. With date collecting, you can assemble one coin from each year of a particular series, or of a particular denomination.
Date and Mint Mark Collecting: Very popular, and considered by many the most challenging. A date and mint mark collection consists of one coin from each U.S. mint and each year for a particular series. Many series have a hard-to-find date that can be expensive.
Die - A piece of metal bearing the design of the coin. Two dies (front and back) come together against a coin blank to strike a finished coin.
Device - A symbol or figure on a coin.
Designer - The artist who creates a coin's design (but doesn't necessarily engrave the design into a coinage die).
Edge - The outer border of a coin, considered the "third side" of a coin (not to be confused with "rim"). Some coins feature lettering, reeding, or ornamental designs on their edges.
Encapsulated coin: A coin that has been independently certified and encapsulated in a sonically sealed holder. The holder has a bar coded identification insert that notes the coin, variety, date and grade.
Engraver - The person who cuts the design into a coinage die (not necessarily the designer)
Field - The portion of a coin's surface not used for design or inscription.
Face Value - The sum for which a coin can be spent or exchanged (a Dime's face value is 10¢), as opposed to its collector or precious metal value.
Fractional Currency - Paper money issued in denominations of 3¢, 5¢, 10¢, 15¢, 25¢ and 50¢ from 1863-1876.
Grade - The condition or amount of wear that a coin has received. The ANA scale measures, or grades, coins from About Good-3 to Perfect Uncirculated-70.
Hairlines - Minute lines or scratches on coins, usually caused by cleaning or polishing.
Incuse - The design of a coin that has been impressed below the coin's surface, rather than the more normal raised design protruding above the surface.
Inscription - The legend or lettering on a coin.
Intrinsic Value (melt value) - Refers to the value of the metal in a coin.
Key Date - A scarce date required to complete a collection, usually more difficult to find and afford.
Legend - Principal lettering on a coin.
Medal - A metal object resembling a coin but not of Legal Tender status.
Legal Tender - A coin, note or other article issued by a government as official money.
Mint - A plant that produces coins. Today there are U.S. Mints in Philadelphia, Denver and San Francisco.
Mint Luster - The dull, frosty or satiny shine found on Uncirculated coins, resulting from the centrifugal flow of metal as dies strike the coin blank.
Mint Mark - A small letter on a coin identifying which mint struck the coin.
Mint Set - A complete set of coins of each denomination produced by a particular mint.
Mint State - Same as Uncirculated.
Mintage - The quantity of coins produced.
Motto - A phrase or slogan on a coin that is symbolic of a country.
Mule - A coin struck with two dies not meant to be used together.
Numismatics - The study and collecting of coins and articles used as money.
Obsolete - A coin design or type that is no longer produced.
Obverse - The front (or "heads") side of a coin, which usually features the date and the principal design.
Off-Center - Describes a coin that has received an off-center strike from the coin press and has portions of its designs missing.
Overstrike - A new coin produced with a previously struck coin used as the planchet.
Paper Money - Any currency made of paper, including Fractional Currency, Silver Certificates, Federal Reserve Notes, etc.
Pattern - An experimental or trial piece, generally of a new design or metal.
Planchet - The blank piece of metal on which a coin design is stamped.
Proof - A specially produced coin made from highly polished planchets and dies, and often struck twice to accent the design.
Proof Set - A complete set of Proof coins of each denomination made in a year.
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.
Restrike - A coin minted after the year of its date from the original dies.
Reverse - The back side (or "tails") of a coin, usually carrying a design of lesser importance.
Reeding - A design made up of vertical striations applied to the circumference of the coin’s edge. The product of semi and fully automatic coining machines developed in the late 18th century, reeding helps to deter clipping.
Rim - The raised circumference of a coin's obverse and reverse, circling the design and protecting it from wear.
Roll - Coins packaged by banks or dealers in the following quantities: 50 Cents, 40 Nickels, 50 Dimes, 40 Quarters, 20 Half Dollars, 20 Dollars.
Series - All dates and mint marks of a specific design and denomination: the Mercury Dime series or Buffalo Nickel series.
Strike - The process of stamping a coin blank with a die bearing the design. A strike may be considered full, average or weak on a particular coin, and will affect the value of rare coins.
Toning - Coloration (patination) caused by chemical reaction to the air or other materials over time.
Type Collecting - Building a collection that displays each of the major designs within a series. It is considered by many to be the most individualized. That’s because there are no “strict” rules the grade, composition, design and date collected are up to the individual. Some build a U.S. silver dollar type set, others a gold set, and still others a comprehensive set of every design for every series of U.S. coinage.
Uncirculated - Without rub, friction or wear from circulation.
Variety - A minor change from the basic design type of a coin.
Year Set - Collection including each year of issue of a certain type of coin, though not necessarily including each mint issue.
