Niewmismatic Error Coins

A GLOSSARY OF NUMISMATIC TERMS


ALLOY: A mixture of two or more metals.

ASK: The price at which a seller is wlling to effect the sale of a coin.

BAG MARKS: Edge nicks and surface abrasions coins receive when they knock against one another in bags as theyare transported from the mint to banks and other destinations.Bag marks affect a coin's grading and  value.

BARTER: Exchange or goods and services without the use of money.

BASE METAL: Non-precious metal that serves as a base for a precious metal, such as copper, nickel or zinc, or alloys of these metals.

BID: the price offered at a sales to buy a coin.

BILLION: A low-grade precious metal alloy comtaining silver and gold with large quantity of copper.

BLANK: Also blank planchet, flanor disc. A piece of metal cut to the shape of a coin but not yet struck.

BLOOM: See patina.

BULLION: Precious metal in the from of an ingot, wafer or bar.

BULLION COIN: A coin that is purchased for its precious metal content rather than for great numismatic value.

BULLION VALUE: Also intrinsic value. The current value of the precious metal in a coin.

CABINET: A piece of furniture that keeps a coin collection, or the collection itself.

CAMEO: A proof coin that has mirrorlike fields while the devices have a frosty appearance.

CIRCULATED: A coin passed from hand to hand in commerce.

COIN: A piece of metal stuck with marks to show it was issued by an authority such as a government or bank which guarantees the coin's weight, fineness and value.A coin intended for use as legal tender.

COIN COLLECTOR: A person who collects coins for pleasure. See numismatist.

COIN DEALER: A person who trades in coins.

COIN INVESTOR: A person who buys and collects coin with the primary purpose of selling them later to make a profit.

COMMEMORATIVE COIN: A coin issued to celebrate or mark an important event in history or to preserve the memory of a place or person.

CONDITION: A coin's state of preservation.

COPY: The replica of a coin not produced with the intention to deceive. See electrotype.

CORROSION: The damaging effects of chemical reactionson on coin surfaces, generally caused by improper handling or storage.

COUNTERFEIT: An imitation or alteration of a genuine numismatic piece with intent to deceive.

CUPRO-NICKEL: An alloy of copper and nickel.

DIE: An engraved hard metal punch used to strike coins.

DUMP: Any small, thick coin.

EDGE: The surface of a coin measured to find out its thickness. All coin have three surfaces: obverse, reverse, edge.

ELECTROTYPE: Replica of a coin made by electrolysis. See copy.

ELECTRUM: A natural alloy of gold, silver and copper from which the first coins in history were stuck. Eectrum also refer to a man-made alloy of gold and silver.

EMERGENCY MONEY: A general term referring to those currency issued when the  regular monetary media are in short supply. See obsidional coinage.

ENGRAVER: A person who prepares and engraves the dies for a coin.

EXONUMIA: The study of medals, tokens and related non-coin collectibles.

FACE VALUE: Value of a coin as indicated on its surface. This is the monetary value of the coin at the time it was minted.

FANTASY COIN: A coin that resembles a real piece but is actually not issued by an official authority; an invented item, but not considered to be a forgery.

FIELD: Flat undetailed part of a coin's obverse or reverse.

FINENESS: Also fine.The percentage of the purity of a precious metal contaned in a coin (1,000 parts being 100% pure). The purest level refined commercially is 999.9. Pure gold (999.9) equals 25 karats. See karat.

FINE OUNCE: An ounce of 999.9 pure precious metal. One troy ounce equals 31.1035 grammes.

FINE WEIGHT: Actual weight of the precious metal in a coin, bar, ingot or other item as opposed to the item's total weight. See gross weight.

FLAN:  See blank.

FORGERY: An illegal copy of a genuine coin intended to deceive. See counterfeit and copy.

FROSTED PROOF: A proof coin on which its design and lettering have a frosted appearance against a mirror- like finish of the field.

GILT: Gold-plated.

GRADE: Condition or state of preservation of a coin.

GRAINING: Serrations on a coin edge.

GROSS WEIGHT: Total weight of a coin. See fine weight.

HAIRLINES: Tiny scratches on a coin caused by cleaning or improper handling.

HAMMERED COINS: Coins made by hand prior to the mid-17th century. See milled coinage.

INCUSE: Also intaglo. The opposite of relief; that is ,the design is sunken or impressed into the coin rather than raised. See relief.

INTAGLIO: See incuse.

IRIDESCENT: A form of patination or toning on a coin that resembles most or all the colours of the rainbow.

KARAT: When applied to some precious metals such as gold as gold, carat indicates the fineness of the metal. See fineness.

LEGEND: The main inscription on a coin.

LETTERED EDGE: Edge of a coin which has an inscription.

LUSTRE: Brightness or brilliance of a coin's metal.

MEDAL: A metallic collectible, often round, created for purely artistic purposes or historical commemoration or as a form of recognition or award. See exonumia.

MEDIEVAL COIN: A coin struck from about 500 AD to 1500 AD.

MILLED COINAGE: Coinage made by machines, as opposed to hammered coins. See hammered coins.

MILLING MARK: Also reeding mark. A series of two or more nick on a coin-the result of contact with another coin.

MINT: The facility where coins are produced.

MINT CONDITION: Also mint state.Describe coins that are unused; without signs of wear.

MINT MARK: A mark, usually a letter, on a coin indicating the mint at which it was produced.

MIS-STRIKE: A coin that is struck "offcentre". Mis-strike also refers to any error in the minting process.

MODERN COIN: A coin struck after about 1500 AD.

MODULE: Diameter of a coin.

MONEY: Any item accepted and used as a medium of exchange.

NCLT: Non-Circulating Legal Tender. Refers to coins with limited mintage and of very high denomination, not meant to be circulated and usually for commemoratives.

NUMISMATICS: The study of coins and related items.

NUMISMATIST: A person interested in the study of numismatics and not a mere coin collector.

NUMISMATIC VALUE: Market value of a coin that is greater than its bullion or intrinsic value.

OBSIDIONAL COINAGE:  Also siege pieces. Coins struck by a besieged town. Obsidional coinage is considered a type of emergency. See emergancy money.

OBVERSE: The side of a coin which is normally referred to as the "head" , bearing the principal device. See also reverse.

OVERSTRIKE: A coin struck on an existing struck piece rather than on a blank.

PATINA: Also bloom or tone. An attractive, desired colouration on a coin caused by a natural oxidation process on its surfaces.

PATTERN: An experimental striking of a proposed design.

PIEDFORT: Also piefort (a French word). A coin struck on a double thickness.

PREMIUM: The price of a coin over its bullion value.

PROOF COIN:  A coin struck at least twice from highly polished dies on a highly polished blank so that it has a brilliant mirrorlike surface. The term proof is not an indication of conditiong. See cameo.

PURE GOLD:  999.9 fine gold or 24-karat gold, with no alloy.

PURE SILVER: 999.9 fine silver with no alloy.

REEDED EDGE: The edge of a coin being marked by raised vertical lines. See graining.

REEDING MARK: See milling mark.

RELIEF: Part of a coin's design that is raised. See also field, incuse.

RESTRIKE: A coin produced from the original dies but at a  later date.

REVERSE: The side of a coin which is normally referred to as the "tail", usually bearing a portrail or the date.

SLEEPER: An undervalued or underpriced coin.

SPLIT GRADE: A coin whose obverse grade is different from its reverse grade.

SPREAD: Difference between the bid and ask.

STRIKE: Sharpness of a coin's design.

SYNGRAPHICS: The study of paper currencies and related items.

TAEL: Hong Kong Tael = 37.42gm    Taiwan & Thailand Tael = 37.5gm   Singapore Tael = 37.793gm

TOKEN: A piece of durable material, usually metallic and issued unofficially for advertising services or other purposes.

TONING: See patina.

TROY OUNCE: One troy ounce equals 31.1035 grammes.

UNCIRCULATED: A coin in a mint condition; no trace of wear.

UNIFACE: A coin showing a design on one side only.

UNIQUE: Only one known specimen in existence.

VIS-A-VIS: Portraits facing each other are said to be vis-a-vis.

WHIZZING: An artificial process by which metal is removed form a coin's surface to improve its
appearance. Not an accepted practice among reputable coin dealers.

WEIGHT: The precious metal in coins is weighed in troy ounce or grammes or local tael.

(Source:MNS Library)