You can read for days about coin collecting.
And for beginners, the language can sometimes be opaque.
Here’s a simple guide of …. terms that we think will help you get a foothold in the hobby.
We’re all always learning all the time, and we’ll add to this list with more technical vocabulary for you in future.
A
Adjustment: blanks (discs from which coins are struck) were sometimes manually adjusted with files to make them the correct weight for their denomination.
Alliance coins: the Euro, which is minted by multiple governments, is an example of an alliance coin.
A Euro is an alliance coin, and also - in this early version - a bimetallic coin. Image courtesy European Central Bank.
Alloy: two or more metals mixed together form an alloy. Most modern coins are made from alloys of base (inexpensive) metals. As money became a fiat - a symbol of value rather than carrying actual value - pure, precious metals like gold and silver became rarer, and are now almost only used in special collectors coins or bullion coins.
Altered date: dates can be falsified to fool collectors into believing a coin is rarer or more valuable than it actually is.
Anepigraphic coin: many ancient coins are anepigraphic, with no text describing the item, a diagram or other simple image (often an animal) confirmed the coin’s value and weight.
Assay: a test on metals, particularly precious metals, to determine their purity, usually done with precise weight measurements.
Attribution: the date, mint at which a coin was struck, its denomination (dollar, cent, pound etc), and type are all attributions that identify it as the unique piece it is.
B
Bag mark: a small area of surface damage sometimes called a contact mark that is consistent with handling in a bag full of money. Larger precious metal coins are susceptible to this type of damage, which is recorded for uncirculated coins.
Banker's mark: an old mark applied by a user - sometimes a banker or merchant - to medieval and ancient coins that confirmed they were genuine. On Chinese and Japanese coins they are sometimes called chop marks.
Base metal: a non-precious metal with no gold or silver. Also applies to alloys.
Beading: a dotted raised border on a coin rim is beaded.
Billon: essentially diluted precious metal, billon is a gold or silver alloy with lots of base metal (most often copper). Billon coins are often made when coins devalue quickly.
Bi-metallic coin: any coin made of two distinct and separate metals is bi-metalic. Some modern British pound coins are bi-metalic with a copper-coloured ring around a silvery centre.
Blank: a coin is struck onto a blank, a disc of metal that can also be called a planchet or a flan. Some coins have an intentionally blank side - these are uniface coins - and this is also called the blank.
Brockage: An error type most common in ancient coins, where two coins are accidentally struck together on a die, impressing the image of the first onto the second coin.
Bullion: pure (or nearly pure) precious metals valued by weight.
Bullion coins: Coins made of bullion metal which are valued by their weight as if they were bullion bars.
Bullion value: the value of a coin in terms of the precious metal content. For example, a sovereign weighs 7.98 grams, with 7.32240 g of pure gold (they are 22 carat). Multiply this by the current price of gold and you’ll get the bullion value of the coin.
Business strike (also circulation strike): the standard quality of strike used for coins made in a mint, and intended to send coins into everyday use. Not a proof strike.
C
Cameo: a type of decoration in which the foreground (for example the king’s head on a British coin) is strongly and clearly separated from the field (or background).
Cast coins: modern coins are struck, but the Ancient Romans cast many of their coins in moulds with molten metal.
Centum: a latin derived term for 1/100th that gives many coins - cents, centavos, centimes etc - their name.
Certified: a coin whose authenticity and condition grade has been inspected and documented by a grading company.
Church tokens, aka communion tokens: originally Scottish and later US and Canadian tokens given to church goers, usually stamped on one side with the name of the parish.
Circulated: a coin that has been used and issued into general circulation and shows some sign of wear. It is not mint, and may have other specific points of wear or damage noted too.
Clad coinage: a core of one metal is coated or clad with another to produce an economic and aesthetically pleasing coin.
Clipping: precious metal coins were sometimes clipped with sharp shears to recover the valuable raw material. It was considered a very serious crime - integrity of currency is a big deal for governments - and those found guilty were mutilated in many medieval states and executed in Britain during the 18th and 19th centuries.
Coin alignment: this describes how the front (obverse) and back (reverse) images on a coin relate to each other. Medal alignment means the images will both be upright if the coin is turned horizontally (as on UK coins); coin alignment (used in the US) keeps the images upright if the coin is turned vertically.
Collar: a ring on the die chamber that secures coin blanks in place while they are struck.
Contact marks: See bag marks.
Counterstamp: the equivalent of an overprint on a stamp, a counterstamped coin has had a second impression made on it. This may be a new value or alteration by the minting authorities or an unofficial use such as adverts and slogans.
Crown: a commonly used name for large, high-value coins usually now only used as special issues for collectors or bullion. A British crown was ¼ of a pound.
Cud: an error type showing raised metal left around the edge of a coin by a damaged die.
D
Debase: coinage that has had its precious metal content reduced. This can be done by issuing authorities as a response to inflation or by coiners or counterfeiters.
Denticles: a design feature on the surface of a coin around the edge that looks like teeth when viewed from above. They help to protect coins from wear and keep the stamped design safe from damage to an extent.
Die: a coin is struck with a die that contains a mirror image of the design. One die is usually fixed in place, the blank is put on it and the second die (usually the front or obverse) hammers down to impress the design into the blank.
Die clash: an error type caused when a blank is misplaced and dies strike directly onto each other. This can cause a shadow image to be stamped onto one or both of the dies that can be transferred to subsequent coins.
Die crack: an error type in which a damaged die transfers a line to a coin.
Die defect: the general term for die-related errors on coins.
Die marriage: each set of dies is considered a unique pairing or marriage. If one is changed it becomes a new marriage.
Die state: the description of the image on the coin as affected by wear or damage to the die.
Die variety: dies that are changed deliberately to repair errors or damage or add or remove die features are called die varieties.
Dime: an American or Canadian 10c piece. The first American dimes were struck in 1796, and were called “dismes” in the law creating American decimal coinage.
Dipping: a method of cleaning a used coin with an acid solution. This is no longer favoured by collectors as it damages the coin’s surface and usually reduces its value.
Double Eagle: a high-value $20 dollar coin that includes some of the US mint’s rarest and most collectible issues. It was struck between 1850 and 1933.
Double strike: an error type in which a die has hit the surface of a coin twice causing a double image.
Doubled die: a double-struck die or a coin struck with one. Dies are themselves struck and can pick up similar errors to coin errors that can be put on coins if not picked up.
Doubloon: a four dollar Spanish gold coin, actually denominated as 2 escudos.
E
Eagle: the large US $10 coin made from 1795 to 1933 and a modern bullion-only reissue made from 1986.
Edge: the rim.
Effigy: a portrait of a person on a coin.
Electrotype: a copy of a coin made by a type of electroplating that can be very accurate. It is favoured by museums who need to keep originals in secure storage.
Electrum: an alloy of gold and silver used in some very ancient coins.
Elongated coin: a semi-authorised type of counterstrike often used to create tourist souvenirs from low value coins by putting them through a machine that rolls them, increasing their size, and adds a commemorative message of some sort. They are not considered counterfeit coins.
Encapsulated coin: some grading services encase coins in a plastic cover as they complete their grading. This protects the coin and serves to add weight to the authentication process.
Engraver: dies were cut by engravers, some of whom were designers too.
William Wyon was one of the greatest British engravers. This posthumous medal was engraved by his son.
Error: any mistake in coin production. Some of the rarest and most valuable coins are errors.
Essai or essay: a trial process to test whether a design will work in production. These are often very high quality and very rare and valuable.
Exergue: a delineated segment on a coin, usually on the reverse at the bottom, where text (often a date or place of minting) is placed.
F
Face value: the denomination of a coin as stamped on its face: £1 for example.
Fantasy issue: a non-official coin-like object often made for promotional or artistic reasons which is not a counterfeit or intended to fool.
Field: the areas of a coin unaffected by design features. The design stands on the field, which is left blank in the striking.
Filler: a poor condition coin kept in a collection until a better example can be found.
Fineness: the usual measure of precious metal purity, expressed as 1/1000ths.
Flan: a blank
Flans, planchets or blanks heading to production at the US Mint.
Fleur de coin: a masterpiece. The term is usually reserved for pre-industrial coins where individual workmanship, wear and tear, and quality of strike were more variable. A coin of the best possible quality in the best possible condition.
Flip strike: an error in which a coin turns over in the die after the strike and gets a second strike of the image intended for the other side.
G
Gem: an extraordinarily good coin in condition or quality.
Grade: Coins are graded by and for collectors. There is no single agreed industry standard system of grading, with some using numbered scales and others descriptive terms. A commonly used British scale runs from “fine” to “fleur de coin” via “very fine”, “extremely fine” and “uncirculated”.
H
Hacksilver: ancient currency of silver metal items that don’t quite meet the definition of coin.
Hammered: before machinery, coin dies were hammered into blanks by hand, this produced much more variable results in the clarity and positioning of the image.
High relief: a design which rises far above the field. They are demanding to make and more prone to errors and damage, especially if stacked. One of the most famous US coins, the 1907 high-relief $20 piece proved too fragile for general circulation and was quickly withdrawn, making it very rare. Some mints now produce high-relief coins as special collector’s issues as the designs can be very striking.
Hub: the stamp that puts the coin design onto the die.
I
Incuse: designs that push down into the field are recused. They are harder to make and less often used than relief designs.
Ingot: pure metal in bar form.
Inscription: the text on a coin.
Intrinsic value: the simple, raw material value of a coin, usually far exceeded by its value to collectors if the coin is a rarity.
K
Karat: the standard measure of gold purity, running to 24K.
Key coin: a coin that is much valued as a standout in scarcity or beauty from a longer series of coin issues. For example, the 1848, 1850 and 1851 British shillings are regarded as key coins for their rarity.
L
Laureate: portrait style dating to Ancient Rome with a laurel wreath over a ruler’s head. The style was often copied in much more modern issues, including the first Queen Elizabeth II coins.
Legal tender: the full definition of legal tender is currency that must legally be accepted in payment of debts.
Legend: the main text or inscription on a coin.
Lettered edge: coins are commonly inscribed around their edge. Modern British pound coins have “Decus Et Tutamen' meaing an ornament and a safeguard written around their edge.
Low relief: a coin design that does not rise very high from its field.
Lustre: reflective brightness. Mint lustre has a visual effect like a bloom of light around a coin. Cleaning coins can damage their lustre so is best left to specialists.
M
Master die: hubs are struck from the master die.
Maundy money: special bags of coins given out by the British monarch in a quasi religious ceremony on Maundy Thursday. Traditionally, they were silver 3d pieces.
Medal alignment: an alignment of designs that shows both sides upright when turned horizontally along the vertical axis.
Milled coinage: coins made in machine processes rather than hammered or cast.
Milled edge: a set of vertical grooves along the perimeter of a coin. British pound coins have milled edges.
Mint: a coin making facility. The British Royal Mint is in Llantrisant in south Wales and is a tourist attraction as well as an industrial facility. Mints are highly secure and centralised, but some countries have more than one. The US has had multiple regional mints, for example, and coins issued from particular mints may be more valuable or sought after for reasons of quality or rarity.
Mint lustre: the bloom or frost of reflected light from a brand new, mint-state coin.
Mint mark: an identifying letter or symbol tying a coin to the mint where it was struck. US and French coins, for example, carry mint marks.
Mint roll: paper wrapped coins ready for issue straight from the mint.
Mint set: a collectors set of mint-condition coins sold by the mint.
Mint State (MS): the US term most commonly used for fleur de coin or uncirculated mint condition coins.
Mis-strike: an error that puts the design on a coin’s face off centre.
Motto: A national phrase on a coin. These are often political and change over time. France’s “Liberté, égalité, fraternité" has survived since the Revolution of 1789. As Italy rose up in revolt towards unification rebel authorities issued coins with “Italy free, god wants it” on them. Franco’s fascist government in Spain used “Una, grande y libre” meaning “one, great and free”.
Mule: an error of mismatched dies resulting in a coin with two disparate sides.
N
NCLT: Non-circulating legal tender. Special and limited edition coins for collectors. While they have legal tender value they are usually bullion coins worth far more than that. Sovereigns have a legal tender value of £1 but are worth hundreds of pounds on their intrinsic value alone, which may have further rarity value on top of it.
Notgeld: an emergency issue of currency during a crisis, sometimes because of a shortage of more legitimate currency. The term is German, and the hyperinflation crisis of the Weimar Republic saw many notgeld issues.
O
Obverse: obv. in descriptions sometimes, this is the front of the coin, the “heads” in UK issues.
Overdate: Where dies are dated they may be updated with new numbers as they last beyond their original year.
Overgraded: a coin that has been graded too highly.
Overstrike: an error (or reuse) where a previously struck coin is struck with new dies.
P
Pattern: a test strike to try out a new metal composition or new designs. Collectors usually divide them into three types:
- Abandoned designs.
- Die trials that feature approved dies on different metals.
- Experiments that test out shapes, alloys and metals.
Patina: oxidised surface colouration on some metals (copper, bronze, silver).
Pedigree: a coin’s provenance. This can be very important to proving the authenticity of particular coins and the owner’s right to sell it.
Piedfort: “Heavy measure” in French, these coins are bigger, usually double thickness and were struck as special gifts by monarchs or noblemen and later as collector’s specials. They were most commonly produced in France.
Planchet: a blank.
Portrait: the image on the obverse (obv.) or front of the coin.
Post-mint damage: these coins are not true minting errors and are not as valuable. They have been damaged after production in some way.
Privy mark: a signature of sorts, but small enough to be hidden, put onto a coin by a mintmaster or moneyer.
Proclamation coins: a type of emergency coin issue, where coins, typically from another territory, are declared legal tender to meet some pressing need. For example, as Australia became a British colony it had no official currency and was running on something like a barter economy with the addition of coins from all over Europe arriving with settlers. In 1800, Governor Gidley issued a proclamation defining the value of some of these coins, struck in the Netherlands, France, Britain and Spain among other places.
Governor of New South Wales, Philip Gidley King, who put his foot down and proclaimed which currency could be used in Australia.
Proof: collector issues of very high quality finish that put a premium on shine and lustre, often sold in proof sets by mints.
Punch mark: a relatively unsophisticated way of transferring a design to a coin via a hammered punch, more common in ancient coins (or as defacements). Punches are usually simple illustrations.
Q
Quarter Eagle: a US issue coin that was struck between 1796 and 1928 (and officially issued until 1933). This gold coin had a nominal value of $2.50. Some varieties are extremely rare and collectible.
R
Reeded edge: another name for milled edges.
Relief: raised design elements on a coin that show above the field.
Re-strike: dies can be called back into use at a later date resulting in an official restrike of a misdated coin. For example, in 1949 the UK produced an issue of sovereigns, probably for economic reasons, but didn’t make new dies. Thus, the 1925 sovereign was restruck complete with incorrect date.
Repunched date: an overprint type error where a second application of the date punch is used, usually to correct a previous mistamp or mistaken date.
Reverse: or R or rev. Is the back or tails side of a coin.
Reverse proof: a negative image proof coin. Proofs are produced with a highly polished field (the background) and frosted relief designs. A reverse does the opposite, giving the design elements the mirrored finish and the background the frosting.
Rim: the rim is a raised line that runs around the face of a coin. It serves a protective purpose in reducing wear on the design. Rims help coins stack - try it - and make them easier to count and register by machine.
Round: a coin-like bullion issue, not legal tender, but really a circular bar of precious metal. They usually weigh one ounce.
S
Series: the years during which a coin was minted to a specific design and face value.
Seigniorage: the profit (or loss) caused by any difference between face value of money issued and the cost of materials and production. The term refers back to the sovereign’s right to control currency.
Silver dollar: Until 1935 US dollar coins were minted in silver. Some of these coins are extremely rare and valuable and also have bullion value.
Morgan dollars, minted from 1879, were 90% silver and now some have extra value as rarities too. Morgan was George T Morgan, the engraver.
Spanish dollar: a piece of eight. Arguably the original dollar. The coin was issued by Spain from 1497. The dollar name was a corruption of “thaler” itself a shortening of Joachimsthaler, the name of a silver mining area in Bohemia. The power of the Spanish Empire made the dollar the first global currency and many other currencies used it as a basis or accepted it as legal tender. The American dollar was based on the Spanish coin and the Spanish coin could be used in the US well into the 19th century.
Spot price: a current market price for precious metals like gold measured in a single troy ounce. The value of bullion is calculated as the spot price x weight.
Stainless steel: an alloy valued for its bright, long-lasting shine that is sometimes used in coins. Stainless steel is so hard that it cannot support complex, high-relief designs. Some wartime Italian lira coins were produced in stainless steel for example.
T
Token: a bought stand-in for money. These are sometimes collected by numismatists and often have social historical significance or interest. Token coins were sometimes issued privately by banks to function like banknotes as a fiat for value. They were not made of precious metal but constituted a promise of payment.
Truncation: portraits are often cut off short to fit on a coin and to allow the engraver to initial their work.
Type: the basic design. For example, collectors recognise 17 distinct types of US cent, starting with the “large cent, flowing hair, chain reverse” issue of 1793.
Type set: a collector may complete - or try to complete - a full set of types of a coin or a monarch’s reign or other period.
U
Uncirculated: a struck but unused coin. This is a condition descriptor that is used for high lustre coins in good condition.
Uniface: a one-sided coin with no design on the other.
Upset: an error type in which the designs on the two sides of the coin have not been properly aligned.
V
Variety: a variety is a difference in a coin recognised and catalogued by collectors. Some are design decisions called “die varieties” and some are mint errors. For example, an 1843 Victoria Sovereign has a “narrow shield variety” that was probably caused by the use of a die from an earlier coin for a short period. These coins - and many varieties - can be very valuable rarities.
Y
Year set: a full collected set of every denomination of the currency of a nation for a year. A year set for the UK in the 1970s, post decimalisation would be: a 50 pence piece, a 10 pence piece, a five pence piece, a two pence piece, a one pence piece and a halfpenny. ,
Z
Zinc: zing is usually used in alloys (eg brass) but has been used to strike emergency coins, including many coins produced in occupied Europe during World War II, when metals were diverted into armaments production.
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