Definitions of Coin Terms

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assay
A method of determining the fineness, weight and consistency of precious or other metals used in coin or bullion through analytic testing. After testing, the item is considered an assay piece.

attribution
Use of characteristics (date, period, mint, denomination, issuing authority, metal in which struck and standard reference to identify a numismatic item.

auction
Format for selling items to the person willing to pay the most by taking progressive competitive bids.

authentication
Final ascertainment of the genuineness of a numismatic item.

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back
Reverse side of paper money (i.e. opposite to the "face"), similar to the reverse side of a coin.

bag marks
(For more information, see "contact marks.")

bank note
Promissory note payable to bearer which is issued by a bank in particular denominations to be used as money; however this term should not be applied generally to all forms of paper money.

bas--relief
Form of sculpture style featuring minor differences between the raised design and the field, but no undercutting of the design, which is used to create models for coins and medals. (For more information, see "relief.")

base metal
Non-precious metal such as nickel.

Bicentennial coins
In honor of the 200 th anniversary of American Independence, the three coins (quarter dollar, half dollar and dollar) issued from mid-1975 to the end of 1976, which bear two dates (1776 and 1976) and special reverses symbolic of the celebration. Although copper-nickel clad versions were issued for circulation, collectors may also obtain a 40% silver clad version.

bid sheet
Bidding form used by a buyer in an auction or mail-bid sale for identifying the item being bid on (using its assigned number) and setting forth the price the bidder is willing to pay.

bid-buy sale
Combination form used in a fixed-price list and mail-bid sale. Although rules may be different depending on the dealer, the form generally permits a customer to either buy a lot outright at the fixed price or place a bid (higher or lower), thereby allowing the customer in some cases to buy a lot at less than its asking price or to increase the chance of obtaining the lot by paying more.

billon
Low-grade alloy (typically mixture of copper and silver) used for various minor coin issues, which are sometimes coated with a silver wash.

bison, buffalo
Mammal often associated with North America and therefore used on U.S. coins and paper money. The term "bison" is preferred to ""buffalo", which can also refer to related species outside North America.

bit
Frequently a reference to the Spanish-American 1real piece (also Danish West Indies and other neighboring islands) which circulated previously in the U.S.. As a bit is 12-1/2 cents, it is usually used in the plural rather than singular, as in "shave and a haircut, four bits" (50 cents).

blank
Also called disc or flan, the basic circle of metal or other material on which is impressed the dies of the coin, token or medal. Alternatively, in paper money, the blank is the small colored disc embedded in the paper used to discourage counterfeiting.

block
Series of related paper money notes identified by serial numbers having the same prefix and suffix letters. A new block is created when the suffix letter changes (currently when the serial number reaches 99 920 000).

Blue Book
Reference to the Handbook of United States Coins , the collector's yearly price guide for wholesale prices or what dealers may be paying for U.S. coins. (The book takes its nickname from its blue cover.)

bourse
Taken from the French word for "marketplace", the place where dealers display their wares at a coin show or convention.

brass
Metal alloy of mainly copper and zinc used for coins.

Britannia
Gold bullion coin and its lesser counterparts issued by Great Britain beginning in 1987; it also refers to the allegorical figure symbolizing Britain.

broadstrike
Coin struck outside a restraining collar.

broken bank note
Paper money issued by a bank which has failed or is otherwise defunct, but may also refer to any obsolete bank note.

bronze
Metal alloy containing mainly copper and tin used for coins.

Brown Back
National bank note that is a Second Charter, First Issue, characterized by brown ink on the back.

Buffalo nickel
More correctly known as the Indian Head 5-cent piece.

buffalo
See "bison" above.

bullion coin
Coin made of precious metal that is valued at the current bullion price.

bullion
Precious metal in the form of bars, ingots, plates, etc. which has not yet been made into coins.

buyer's fee
Fee frequently charged the bidders who prevail in a public auction in the U.S. based on a certain percentage of their winning bid, typically 15% for U.S. auction houses. Therefore a buyer placing a $200 winning bid would pay a total of $230

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cabinet friction
Slight surface wear on a coin, token or medal caused by friction between it and the tray or envelope in which it is contained.

check number
Information regarding the plate number from which a modern paper money note was printed which originally appears on the margin of a currency sheet, but is trimmed from the note before circulation. On the obverse, the check number is a letter and number combination appearing in the lower right corner, while on the reverse, it is a number only appearing at the lower right. (This number is frequently referred to in error as the plate number.)

chop mark (shroff mark)
Mark in the form of a tiny punched impression used by Chinese (chop) or Indian (shroff) banks or change offices as a validation of the full weight and metallic content of a coin.

Civil War tokens
Token approximately the size of a current U.S. penny issued privately for circulation during the Civil War when small change was scarce. The two main categories were patriotic tokens, with patriotic themes; and store cards, which also served as advertisements by bearing information about the issuer such as name, address and type of business or services. (For additional information, see "token.")

clad
Result of a process for reducing the cost of making coins by using a composite coinage metal strip composed of a core of a less valuable base metal such as copper, with surface layers formed of a more valuable metal such as silver or copper-nickel. Although these coins were less expensive to produce, they still had the appearance of coins composed through and through of the surface metal.

clip
Although now used to refer to an incomplete planchet coin, originally a "clipped" coin's edges were shaved to ferret away small amounts of metal, thus creating lettered or reeded edges.

Coin note
See "Treasury note".

coin
Piece of money issued by a government, usually composed of metal and marked upon.

collar
Retaining ring die forming the edge design of the piece such as reeding or lettering within which the coin dies operate.

Colonial
Coins or paper money issued by the Colonial governments of the original 13 colonies that came together to form the U.S. (For more information, see "state coinages.")

commemorative
Piece who issuance marks or honors an event, location, person or anniversary..

compound-interest Treasury note
U.S. paper money authorized in 1863 and 1864 which bore a 6% interest rate when redeemed three years after issue.

condition census
Term coined by Dr. William H. Sheldon to designate the finest specimen and average condition of the next five finest known of a given variety of large cents. Now cataloguers are beginning to use the term as well to describe other series.

conjoined
See "accolated."

contact marks, bag marks
Minor marks on an uncirculated coin, caused by its being handled in mint bags or contacting other surfaces. Sometimes also referred to as bag marks.

Continental currency
Paper money issued during the Revolutionary War under the authority of the Continental Congress. (For more information, see "currency.")

Continental dollar
Dollar-sized pattern struck in 1776 as proposed coinage.

COPE, COPE PAK
Acronyms used at the Bureau of Engraving and Printing. COPE stands for "Currency Overprinting and Processing Equipment", while COPE PAK stands for "Currency Overprinting and Processing Equipment, Packaging Machines". The COPE PAK applies overprinting of seals, serial numbers and Federal Reserve index numbers to 16-note half sheets of paper money, while the COPE cuts the half sheets into single notes, groups them into 100-note packages with a paper band, and then places them in larger plastic-wrapped packages.

copper-nickel
Alloy composed of varying amounts of copper and nickel which is used for coins.

copy
Reproduction or imitation of an original.

Coronet
Type of Liberty Head used on 19 th century U.S. copper and gold coins, which refers to the coronet worn by Liberty.

counterfeit
Copy of a numismatic piece created with the intention of deceiving others to believe it has the same value as the original. A counterfeit object may be used to defraud others monetarily through circulation as legitimate money or be sold to collectors..

crown
General reference to most silver coins ranging between about 20 to 30 grams in weight and from about 33 to 42 millimeters in size. The term is also applied to most nickel alloy coins falling in the same range. Those coins, which exceed 43 or more millimeters in diameter, are referred to as multiple crowns.

cud
Type of die break that leaves a formless lump of metal on part of a coin.

cupro-nickel
Term short for "copper-nickel" often used by the government.

currency
Refers to both coins and paper money, but many use the word exclusively to denote paper money. Also may be considered legal tender.

current
Those coins and paper money that are presently in circulation.

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Date Back
National banknote that is a Second Charter, Second Issue. The term refers to the dates 1902-1908 on its back.

debase
To make less valuable.

Demand note
Authorized in 1861, this was the first paper money issued by the U.S. federal government to be circulated. Also referred to as a "greenback" because of the green ink used on its reverse.

Denarius (pl. denarii)
Roman silver coin from 268 B.C.. Now debased to the rough equivalent of a Greek Drachm, originally it equaled 16 asses, with 25 Denarii equaling 1 gold Dureus.

denomination
Amount of money a coin or paper note is worth, as indicated on its face..

denticles
Ornamental device frequently resembling teeth used on rims of coins; may also be called "beading."

device
Principal element of the design on the obverse and reverse of a coin, token or medal such as a portrait, shield or heraldic emblem (e.g. Liberty.)

Devil's Face note
Bank of Canada note from the First Issue of 1954 characterized by Queen Elizabeth II's hair having an unfortunate combination of shading and light creating a "devil's" face. Public opinion quickly caused the shading to be redone to lose the "face."

die scratch
Scratch from the coinage die on the surface of a coin creating a raised line.

die
Hard metal punch whose face carries an intaglio or incuse mirror-image to be impressed on one side of a planchet.

disme
Variation of spelling of the word "dime" on U.S. 1792 pattern pieces; also the name given to the 10-cent coin authorized in the Mint Act of April 2, 1792. (The "s" is silent, meaning the word probably rhymes with "seem" or "lime.")

double eagle
U.S. gold $20 coin. (For more information, see "eagle.")

doubled die
Die whose multiple image is created during the die-making process, allowing coins struck from it to have a doubled image. Doubled dies result from many causes and have created many doubled die coins. (Sometimes incorrectly referred to as "double die.")

doubloon
Often thought of as pirate treasure, the popular name given to Spanish gold 8escudo pieces of the Conquistador era, May also refer to a medal in special circumstances such as the Mardi Gras doubloon.

Drachm (pl. drachms)
Ancient Greek silver coin, forerunner of the modern Greek drachma. ( Pronounced "dram").

ducat
Medieval gold coin; may also refer to any of a number of modern issues of the Dutch Mint. Under modern use, it has also become slang for "ticket." (Pronounced "DUCKet")

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eagle
U.S. gold $10 coin.

edge
Essentially the third side of a coin, it is the surface perpendicular to the obverse and reverse which became especially significant with the beginning of machine-struck coins. Edges can be plain, lettered or milled (reeded or with some other repetitious device.) They should not be confused with rims.

Educational notes
Series 1896 $1, $2 and $5 silver certificates, so called because of the allegorical and educational themes of the vignettes. A new series replaced them in 1899.

electrotype
Result of using electroplating to create a copy or reproduction of a coin, token or medal.

electrum
Alloy of gold and silver which occurs naturally and was used in the Mediterranean region to create early coins.

elongated coin
Usually a cent, an oval medalet produced by a roller die using a coin, token or medal as a planchet.

encapsulated coin
Coin sealed in a plastic holder, particularly by a third-party grading service.

encased postage stamp
Postage stamp unofficially encased in a metal, plastic or cardboard frame which is intended to be used as small change.

error
Coin, token, medal or paper money which shows an error made during manufacturing.

essai; essay
For paper money, a print made to test a design, much like a trial strike in coinage. (For more information, see "proof.")

exergue
Area on a coin generally below the main design where the date is often located. (Pronounced "EXsurge")

exonumia
Broad group of non-money, non-legal tender numismatic items, including tokens, medals and badges. An economist is a specialist in exonumia. (For more information, see "legal tender.")

experimental pieces
Pieces struck from any convenient dies to test a new metal, new alloy or new denomination. They include items testing a new shape or standard metal for a new denomination; and those representing changes in planchets to fight counterfeiting.

eye appeal
Element of a coin's attractiveness, apart from any quantifiable measure of condition.

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face value
Value of a piece of currency as indicated by the denomination multiple appearing on the note or coin.

face
Front of a currency note (usually the side with signatures), much like the obverse of a coin.

fantasy
Object having the physical characteristics of a coin issued by an agency other than a governing authority, but which purports to be issued by a real or imaginary governing authority as a coin.

Federal Reserve Bank note
Form of U.S. paper money authorized by the Federal Reserve Acts of Dec. 23, 1913 and April 23, 1918, and by the Act of March 9, 1933. However the obligation to pay was not assumed by the federal government or other Federal Reserve Banks, but remained solely with the individual issuing bank. The 1933 notes were an emergency issue intended to alleviate the shortage of paper money. It should not be confused with Federal Reserve note [below]. (For more information, see "bank note".)

Federal Reserve note
Form of U.S. paper money authorized by the Federal Reserve Act of February 1913. Unlike the Federal Reserve Bank Note [above], the U.S. government was the one obliged to pay on the note, not the issuing banks. This is now the sole form of paper money currently being printed in the U.S..

fiat money
"Unbacked" currency, i.e. something that cannot be converted into coin or specie of equal value.

field
Flat part of a surface of a coin surrounding or between the head, legend or other designs.

fineness
Represents the purity of a precious metal, either in monetary or bullion form, as most forms of precious metal must be combined with another metal to create a durable alloy. Often stated in terms of purity per 1,000 parts: i.e. a .925 fine silver coin has 92.5 percent silver and 7.5 percent other metal.

fixed-price list
Set price list or catalog of coins, exonumia, paper money or other numismatic items.

flan
Planchet.

flip
Coin holder, usually plastic, with two pouches -- one to hold the coin and the other to hold identification. It is closed by being folded over or "flipped. "

flow lines
Microscopic striations in a coin's surface created by the movement of metal under striking pressures.

Follis (pl. folli)
Roman and Byzantine coin denomination.

fractional currency
Usually refers to U.S. paper money issued from 1862 to 1876 in denominations from 3 to 50 cents. (For more information, see "currency.")

fractional
Refers to bullion coins of less that 1 ounce.

frost
Effect caused by striking a coin with sandblasted dies, frequently used in reference to Proof coins.

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German silver
Alloy of copper, nickel and zinc; which does not contain silver. Other names are American silver, Feuchtwanger's composition, and nickel silver.

gold certificate
Form of U.S. paper money once redeemable in gold coin. From 1933 to 1964, it was temporarily made illegal for most to hold.

goldine
Gold-colored finish frequently used for medals or tokens.

grading
Process of ascertaining the condition of a coin.

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hairlines
Fine scratches in the surface of the coin, which should not be confused with die scratches.

half dime, half disme
U.S. silver 5-cent coin. The Mint Act of April 2, 1792 authorizes "half dismes." (For more information, see "disme.")

half eagle
Gold U.S. $5 coin. (For more information, see "eagle.")

hammer die
Die performing the striking action. (For more information, see "anvil die".)

hammer price
Price in an auction when the auctioneer calls the winning bid, excluding any additional fees the buyer may have to pay for the lot such as a buyer's fee. .

Hard Times token
Unofficial large cent-sized copper token struck in a wide variety of types during 1833-1843 which was used as de facto currency and bear either a politically inspired legend or contain advertising as a store card.

Helvetia
Gold bullion coins issued by Switzerland. The name stems from that given to the area by the Romans, as well as the allegorical figure that symbolizes Switzerland..

hoard
Usually a group of coins, secreted at some point in the past, which is discovered accidentally.

hobo nickel
Indian Head 5-cent coin with an Indian bust engraved to resemble a "hobo" or other individual. The engraving may also alter the bison on the reverse.

hologram
3-dimensional image on a flat surface, now being used experimentally as a security device on credit cards and printed currency.

hub
Right-reading, positive punch used to impress wrong-reading working dies.

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inaugural medal
Medal issued by the official inaugural committee for a U.S. President which commemorates the event.

incuse
Opposite of bas-relief in which the design is recessed rather than raised. Used to refer to coins, medals, tokens and other metallic items.

Indian Head
Preferred name for the 5-cent coin often called the "Buffalo Nickel." However Indian Head cents, gold dollars, gold $3 coins, $5 half eagles, $10 eagles and $20 double eagles also exist. (For more information, see "eagle.")

Indian peace medal
Medal issued by a government agency to an Indian in an effort to engender goodwill. The U.S. government issued Indian peace medals from George Washington's administration through Andrew Johnson's.

intaglio
Method of printing using engraved plates in which paper is forced into the ink-filled lines of the plate, leaving a raised line of ink on the paper. All U.S. paper money is printed by this method.

intrinsic
Net metallic value of a coin as distinguished from face and numismatic value.

irradiated dime
Collectible made by exposing Roosevelt dimes to cesium or other radioactive substance and then placing them in a special package. Despite concerns about radioactive effects, these dimes are; harmless because any radioactivity has disappeared by the time they reach collectors.

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jugate
Accolated, conjoined.

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Krugerrand
South African gold bullion coin composed of .9167 fine gold. May be found in 1-ounce, half-ounce, quarter-ounce and tenth-ounce sizes.

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lamination
Coinage defect occurring when a portion of the metal separates from the rest because of impurities or internal stresses, which often occurs with clad or plated coinage.

large cent
Refers to the U.S. cents from 1793 to 1857, in which a cent might have a diameter between 26-29 millimeters, depending on its year.

large date
Variety of coin where the date is physically larger than other varieties of the same year.

legal tender bullion coin
Precious metal coins issued by the government on behalf of investors that have legal tender status and often a nominal face value, but are not intended to circulate as currency. (For more information, see "bullion.")

legal tender
Government-approved currency to be accepted in the discharge of debts.

legend
Inscription on a numismatic item.

lepton
Denomination of various values and weights used throughout ancient and modern Greece, which is usually a small copper or bronze coin.

lettered edge
Incused or raised inscription on a coin's edge.

Libertad
Silver bullion coin of Mexico, which contains 1 ounce of .999 fine silver.

lignadenarist
Collector of wooden nickels and other similar items.

love token
Coin which has been altered by smoothing one or both of its surfaces and engraving personal messages or pictures on it. (For more information, see "token.")

luster
Surface quality of a coin resulting from the light reflected from the microscopic flow lines.

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mail-bid sale
Much like an auction except all bids and transactions are completed through the mail or by telephone, with no bidding being conducted "in person."

Maple Leaf (pl. Maple Leafs)
Canadian gold bullion coin composed of .9999 fine gold. Produced in four sizes: 1-ounce with a $50 face value; half-ounce, $25; quarter-ounce, $10; and tenth-ounce, $5.

Maria Theresia Taler
Austrian silver trade coin originally dated 1780, but struck repeatedly since then with that single date.

master die
Metal punch used to produce "working hubs", which can then be used to produce "working dies." (For more information, see "die" and "hub.")

master hub
Metal punch for producing "master dies." (For more information, see "hub" and "master die.")

Matte Proof
In particular U.S. gold coins of 1908-1916, which are produced from dies entirely sandblasted with no mirror surfaces. (For more information, see "frost" and "Proof.")

maverick
Unidentifiable item, generally referring to a token.

medal
Usually a piece of metal marked with a design or inscription which is created to honor a person, place or event, but not intended to be used or confused with money.

medalet
Depending on its source, a small medal no larger than 1 inch in diameter or a medal 35 millimeters or fewer in diameter .

medallion
Large Roman presentation piece of the fifth century usually 3 or more inches in diameter which is occasionally used for a large medal.

medieval coin
Coin struck from approximately A.D. 500 to 1500.

Mercury
Unofficial nickname of the "Winged Liberty Head" dime of 1916-45. However the designer never intended the coin to depict Mercury (male Greek god with wings on his ankles), but rather considered the figure to be an allegorical female Liberty Head figure with a winged cap. Warning: some of these coins were plated outside the Mint with mercury to give them a "Prooflike" appearance; because mercury metal is highly toxic, these coins should be destroyed.

microprinting
Extremely small lettering hard to discern with the naked eye which is used on paper money to discourage counterfeiting.

milling; milled coin
Milling means the devices on the edge of a coin, while a milled coin is one struck by machine. They are related because of the rise in importance of the collar with machine-produced coinage.

minor coin
Silver coin of less than crown weight, or any coin struck in base metal.

Mint luster
Sheen or bloom on the surface of an uncirculated numismatic object resulting from the centrifugal flow of metal caused by striking with dies. This luster or bloom is somewhat frosty in appearance as compared to the mirrorlike smoothness of the field of a Proof. (For more information, see "luster.")

Mint mark
Letter or other symbol indicating where the coin was minted.

Mint set
Common term for an uncirculated mint set, which is an official set containing one of each coin struck during a given year.

mirror
Highly reflective surface or field of a coin; typically a mirror field with frosted relief.

model, plaster
Clay or plaster 3-dimensional design for a coin or medal.

modern coin
Coin struck after approximately A.D. 1500.

money
Medium of exchange.

mule
Coin, token or medal whose obverse die does not match its official or regular reverse die.

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national bank note
Paper money issued by national banks in the U.S. from 1863 through 1929 and secured by government bonds or other collateral, which is also referred to as national currency. (For more information, see "bank note.")

National Coin Week
Annual observance sponsored by the AMA (American Numismatic Association), to acquaint the public with numismatics.

national gold bank note
National bank notes issued by a few California banks and a Boston bank as authorized by the Act of July 12, 1870 which were payable in gold coin. (For more information, see "bank note.")

nickel
Silver-white metal usually alloyed with copper that is used for coins. Properly, it should not be used to designate the copper-nickel 5-cent coin, especially as in the mid-19th century copper-nickel cents and 3-cent coins were also nicknamed "nickel".

numismatics
Science, study or collecting of coins, tokens, medals, orders and decorations, paper money and similar objects.

numismatist
Person knowledgeable in numismatics, who has superior knowledge to a collector.

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obol
Greek denomination equal to one-sixth drachma.

obsolete bank note
American bank note issued prior to 1865. This is a more accurate term than "broken" bank note, because many issuer banks changed into national banks or liquidated themselves without going under. (For more information, see "bank note.")

obverse
Side of a numismatic item which bears the principal design or device, often as prescribed by the issuing authority. For paper money, this would be the face; for coins, it would be the "heads" side.

offset
Printing method in which a metallic plate impresses ink on an elastic blanket which is then transferred to paper. In addition, the term is occasionally used to indicate a blanket impression paper money error.

OPA token
A c ardboard fiber token issued in the U.S. by the Office of Price Administration in 1944 during World War II. They were used to make change for meat and processed food coupons, thereby keeping a record of ration points awarded each family.) The tokens came in red and blue versions, and on both sides depicted the numeral 1 flanked by two small initials. (For more information, see "token.")

overdate
Date made by a mint engraver superimposing one or more numbers over the date on a previously dated die.

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paper money
Printed monetary instruments. However as countries experiment with new forms of currency such as plastic, modern collectors may have to find a new term.

patina
Surface quality a coin acquires over time from the reaction of its metal with the environment.

pattern
Coin-like pieces designed to test proposed coin designs, mottoes or denominations proposed for adoption as a regular issue, which were struck in the metal to be issued for circulation but which were not adopted, at least not in the year of their issue. Note: this should not be used as a generic term describing experimental pieces and trial pieces.

pieces of eight
Slang term for silver Spanish 8-real pieces frequently thought of in conjunction with pirate treasure.

piefort
Piece struck on a planchet twice or more the normal thickness. (In Europe, the French spelling "piedfort" is used.)

pioneer gold
Gold coins, often privately produced, struck in areas of the U.S. to meet the needs of a coin shortage, generally in traditional U.S. denominations. Included in the series are the U.S. Assay Office coins of California official coinage struck before the establishment of the San Francisco Mint. (Also referred to as private gold and territorial gold.)

planchet, blank
The disc of metal or other material on which the dies of the coin, token or medal are impressed (may also be referred to as blank, disc, or flan.) In paper money, a blank is the small colored disc embedded in the paper used to discourage counterfeiting.

plaster
See "model."

plasticene
Synthetic modeling clay.

PNC
Abbreviation of philatelic-numismatic combination (or cover). A cover is a combination of a coin, medal, token or other numismatic item inserted into an envelope postmarked on a special occasion, such as the release of a new postage stamp. The numismatic item (or numis) usually can be seen through a window in the envelope.

postage note
First Issue fractional note series.

postal note
Forerunner of the postal money order, which was issued by the U.S. Post Office.

Prestige Proof set
Special U.S. Proof set, commemorating regular Proof coins plus commemorative coins of that year. Offered first in 1983 with 1983-S Olympic silver dollar; then in 1984 (with 1984-S Olympic dollar) and 1986 (with 1986-S Immigrant half dollar and 1986-S Ellis Island dollar).

privy mark
Small device used on coinage often commemorative in nature which is similar to a mint mark in its location, but does not indicate the mint of origin.

Proof
Coin struck on specially prepared planchets on special presses to receive the highest quality strike possible, especially for collectors. For paper money, a print made to test the plate, much like a die trial strike in coinage.

Proof set
Set of one Proof coin of each current denomination issued by a recognized mint for a specific year. (For more information, see "Prestige Proof set.")

prooflike
Uncirculated coin which received special minting treatment and a mirror surface for the benefit of collectors, although minor imperfections due to the minting process are permissible.

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quarter eagle
Gold $2.50 U.S. coin. (For more information, see "eagle.")

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rare
Comparative term denoting a high degree of scarcity. Although often used in combination with an adverb such as "very rare", or with figures such as R4 or R7, there is no universally accepted scale of rarity.

Red Book
Reference to A Guide Book of United States Coins , a price guide published each year that provides retail prices on what dealers might charge for U.S. coins. (The book takes its nickname from its red cover.)

reeded edge
Result of a minting process which creates vertical serrations on the edge of a coin.

Relief

Sometimes called bas-relief, it indicates something is raised. In coins and medallic numismatic items, a relief design is raised above the surface of the field. (For information on its opposites, see "incuse" and "intaglio.")

replica
Copy, reproduction or facsimile of any original.

restrike
Numismatic item produced from original dies at a later date. For a coin, this usually happens to meet a demand for a numismatic rarity rather than monetary requirements.

reverse
Side opposite to that on which the head or principal figure is impressed (i.e. side opposite from the obverse), which would be called the back on paper money.

rim
Raised border around the circumference of a coin, which should not be confused with the edge.

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scarce
Not common, but not so uncommon as to be considered rare.

screw press
Early hand-operated machine for striking coins.

scrip
Paper currency usually in denominations less than $1 issued as a currency substitute to private persons or organizations. Tokens issued by coalmines and armies are also called scrip.

scripophily
Study and science of collecting financial documents, including stock certificates, shares, government and private bonds, and checks.

seal
Device placed on paper money indicating under whose authority it was issued. Modern Federal Reserve notes have two seals: a green Department of Treasury seal and black Fed seal.

seigniorage
Profits resulting from the difference between the cost of making a coin and its face value, or its worth as money and legal tender. Most coins cost less to make than their face value. When a coin becomes too expensive to make, its size, weight and composition are often changed.

serial number
Number used mainly on paper money and sometimes on limited-issue medals to indicate production order.

series
Related coinage of the same denomination, design and type (including modifications, or varieties, of design, such as the Lincoln/Wheat Ears cents of 1909 to 1958.

Sestertius (pl. sestertii)
Ancient Roman coin.

shekel, sheqel (pl. sheqalim)
Shekel is a silver coin of ancient Judea of various weights, while a sheqel is a modern Israeli denomination.

silver certificate
Authorized by the Acts of Feb. 28, 1878, and Aug. 4, 1886. Originally redeemable in silver coin, and until the early to mid1960s, in silver bullion. Although these certificates are no longer produced, all specimens remain legal tender but they can no longer be redeemed in silver.

slab
Popular nickname for certain kinds of protective coin encapsulation methods, especially those permanently sealed and rectangular.

slug
Term applied to the $50 gold coin issued by various private mints in California from 1851 to 1855 which were created in both round and octagonal shapes, or to tokens manufactured expressly for use in certain coin-operated machines.

small date
Variety of coin on which the date is physically smaller than other varieties of the same year. Similar varieties include the medium date and large date.

so-called dollar
Silver dollar-sized medal commemorating a special event.

souvenir card
Popular collectible item, usually well-printed on heavy paper employing the same type of engraving used on paper money. The card also contains information regarding historical or commemorative events.

Souvenir Mint sets
Issue of the U.S. Mint, containing the coinage of one mint, which is usually sold only at the mint represented by the coins.

Special Mint sets (SMS)
Coins produced under special conditions by the U.S. Mint at San Francisco during the years 1965, 1966 and 1967. These coins have no mintmarks.

specie
Something in the form of coin, especially a precious metal coin or paper money redeemable in coin. From Latin meaning "in kind." (For more information, see "fiat money".

star notes
Mainly intended as replacements for notes damaged or produced with errors or mistakes at the Bureau of Engraving and Printing. On modern Federal Reserve notes, a solid star appears at the end of the serial number, while on earlier notes, the star appears at the beginning of the number. Until the 1980s, star notes were also needed to represent the 100-millionth note because the serial numbering machinery has only eight digits.

state coinages or notes
Refers to coins issued by one of four state governments (Connecticut, Massachusetts, New Jersey and Vermont) between the Declaration of Independence and ratification of the U.S. Constitution, during which time the states' rights to issue coins were suspended. Among paper money, it refers to notes issued between the Declaration of Independence and the Civil War by state governments. (For more information, see "Colonial.")

stater
Greek coin equaling two drachms or didrachm, or 12 obols.

Stella
Gold $4 pattern never issued for circulation, which may also be struck in other metals.

sterling silver
From the British "pound sterling" standard, silver that is .925 fine (or.935 fine in Israel.)

store card
Token bearing a business name and/or address, which is usually meant as a local or adhoc medium of exchange as well as advertising for the issuer.

strike
Act of impressing the image of a die into a planchet, making a coin. The quality of strike is important to determine the degree of wear on the coin.

strip
Rolls of coinage metal to be punched into planchets.

surcharge
Extra charge placed on an item, the revenue of which is usually earmarked for a specific fund. Recently the U.S. Congress has been placing a surcharge on commemorative coins, sometimes to benefit a worthy organization.

syngraphics
Study of printed currency and related items. (Taken from "syngraph", a writing signed by all parties to a contract or bond.)

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token
Usually a piece of durable material appropriately marked and unofficially issued for monetary, advertising, service or other purposes.

Trade dollar
Silver dollar coin produced for overseas markets. For example, the U.S. issued a Trade dollar between 1873-85 for use in the Orient. Sometimes used in error to refer to Canadian trade tokens of $1 nominal value.

Treasury note
Sometimes called a coin note, a note issued under the Act of July 14, 1890 which is redeemable in silver and gold coins.

tree coinage
Silver coins issued by the Massachusetts Colony in three forms: Willow Tree, Oak Tree and Pine Tree. Although these were issued between 1652-82, all but one are dated 1652.

Trends
Market value guide based on averages derived from auction results, dealer advertisements, price lists, private sales and other sources. Represents guidelines only rather than firm buying or selling prices.

tribute penny
Silver denarius of the Roman emperor Tiberius.

type set
Collection composed of one of each coin of a given series or period.

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U.S. Gold
Marketing name for the American Arts Gold Medallions.

Uncirculated set
Set of coins issued by the U.S. Mint, consisting of one of each coin issued for circulation. May also be referred to as an Uncirculated Mint set, or unofficially as a Mint set.

uncut sheet
One of the 32-note (or 32-subject) sheets of Federal Reserve notes being sold by the Bureau of Engraving and Printing. The 16-note and four-note sheets being sold are cut partial sheets, although they are often referred to as uncut sheets. Previously sheets of U.S. paper money came with different numbers of notes.

uniface
Bearing a design on one side only.

unique
Existing in only one known specimen. Note: should not be misused, as in the phrase "very unique."

United States note
Specific type of note first authorized in 1862 and called legal tender notes, whose name was officially changed to United States notes in July 1873. By law, $346,681,016 in United States notes must be kept in circulation. Note: the term "United States note" is not a generic term for all forms of U.S. paper money.

upsetting mill
Machine that squeezes planchets so they have a raised rim, in preparation for striking.

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vectures
Transportation tokens.

vecturist
Collector specializing in transportation tokens.

vignette
Pictorial element of a bank note design that shades off gradually into the surrounding unprinted paper or background instead of having definite outlines or a frame.

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want list
List given by a collector to a dealer reciting items the collector needs for a collection. The dealer keeps the want list and attempts to purchase items listed on it for the benefit of the collector.

watermark
Design formed by differing thickness of paper during production, which is frequently used as a security device in paper money.

whizzing
Severe polishing of a coin to try to improve its appearance and salability to unsophisticated buyers. This form of alteration is considered misleading by the numismatic community, and it actually lowers the value of the coin.

widow's mite
Ancient Jewish lepton denomination coin of the time of Christ.

wire rim
Slight flange on coins or medals caused by heavy striking pressure, often characteristic on Proof coins, as the metal is squeezed up the side of the die faces by the collar die. Sometimes incorrectly called wire edge. (For more information, see "rim.")

wooden nickels
Originally, a substitute for coins first used in the 1931-35 depression which originated in Tenino, Washington. Issued in round or rectangular form and in many denominations. Currently used for advertising and souvenir purposes.

working die
Metal punch used to impress images into coins; wrong-reading. (For more information, see "die.")

working hub
Metal punch used to produce "working dies"; right-reading. (For more information, see "die and hub.)

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year set
Set of coins for any given year, generally containing one specimen of each coin from each mint issued for circulation, which set is packaged privately rather than by the government.

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