Glossary

Heard some coin lingo that you're unfamiliar with?

  • Bag Mark

    Marks and scratches from coins rubbing against each other while they're inside the bags from the Mint they're delivered in.

  • Blank

    Disk of metal that the coin will be stamped into, also called a planchet.

  • Bullion

    Precious metals in the form of ingots, coins, plates, or bars. (gold, silver, and platinum)

  • Business Strike

    A coin that is struck specifically for everyday use in commerce. 

  • Bust

    A portrait, usually the head neck and shoulders of the person on the coin.

  • Cameo

    A coin that has a significant contrast between the field and the design.  A mirror-like finish.  Most often on proof coins.

  • Circulated

    Describes a coin that has wear, usually a coin that's been used in everyday commerce.

  • Clad

    Multiple layers of metal in a coin, usually a copper core, a nickel-copper alloy on the outside.

  • Coin

    A flat, round piece of metal, usually with an official design stamped into it, used as money.

  • Commemorative

    Coins that are issued to commemorate a particular person, place, or event.  Usually have a distinct design related to the event.

  • Condition

    Used to describe the wear on a coin

  • Counterfeit

    A fake.  A coin that is made by someone to look like an authentic coin.

  • Currency

    Money that is used as a medium of exchange.  e.g. The U.S one dollar bill is currency.

  • Denomination

    The face value of a coin, or paper money.  

  • Device

    The design element on a coin, such as a bust, portrait, or other images.

  • Die

    Two metal stamps used to press images into coins.

  • Doubled-Die

    Refers to a duplication of design on a die, due to misalignment.

  • Engraver

    Someone who cuts and/or designs words and images on metal for the coins.

  • Error

    A coin that has one or more mistakes on it, such as a missing mintmark.

  • Face value

    The worth of a denomination. Such as a quarter's face value is .25 cents.

  • Field

    The blank area behind the device or design on a coin.

  • Grade

    Used to describe the condition of a coin.  

  • Incuse

    An impression hammered or stamped into a coin so that the design is lower than than the rest of the surface.  Opposite of relief.

  • Ingot

    A block of gold, silver, or any other precious metal.  Used to melt down and make into coins.

  • Inscription

    The words inscribed on the coin. 

  • Intrinsic Value

    Also known as melt value, this is the value of the metal in the coin.

  • Key Date

    This refers to a given date in a set of coins that is much more difficult to obtain than the other dates.  Usually what collectors are after.

  • Legend

    The curverd words that appear around the edge of a coin.

  • Medal

    A round metal disk with a design or an inscription, used to commemorate an event or person.

  • Melt Value

    Also known as intrinsic value, this is the value of the metal in a coin if it were melted down.

  • Mint

    The primary producer of a country's coin currency.  The U.S. currently has Mints in Philadelphia, Denver, San Francisco, and West Point.

  • Mint State

    Refers to a coin that has not been circulated, it's in the same condition it was when it was first released from the Mint.

  • Mintage

    The number of copies produced of a particular coin.

  • Mintmark

    A mark indicating at which Mint the coin was struck.  D for Denver, S for San Francisco, P for Philadelphia, and W for West Point.

  • Motto

    The inscription "In God We Trust"

  • Numismatics

    The study or collection of currency, which includes coins, paper currency, and medals.

  • Obverse

    The "face" of the coin.

  • Overstrike

    When a coin is struck onto an existing coin, rather than a blank planchet.

  • Planchet

    A blank disk of metal, used for stamping designs into to make coins.

  • Proof

    Refers to the finish on the coin, usually a mirror finish.  These are usually specially struck coins minted just for collectors.

  • Reeding

    The grooved lines on the edge of a coin, such as the Washington quarter.

  • Relief

    A raised design on a coin. Opposite of incuse.

  • Reverse

    The "tails" side of the coin, opposite of obverse.

  • Rim

    The raised part of a coin that encircles the perimeter of a coin.  This is on both sides of a coin.

  • Roll

    A paper or plastic container containing a stack of coins.  Usually acquired at a bank.

  • Series


  • Spot Price

    The price of one ounce of silver, or one ounce of gold at any given moment.

  • Troy Ounce

    A unit of measure used for precious metals.

    One Troy ounce is about 31 grams.

    One (regular) ounce is about 28 grams.

  • Type Set

    A collection of coins, based on design or type.  Such as all dates within the series of state quarters.

  • Uncirculated

    A coin that has never been circulated, and shows no wear.

  • Upsetting Mill

    A machine that raises the outer rim on a planchet before the coin will be struck.

  • Year Set

    A collection of coins released by the mint, containing all coins circulating in that year.