MyKoyns | Numismatic Glossary

Numismatic Glossary

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Alloy: A mixture of two or more metals used in coin minting to improve strength and durability.
Altered Coin: A coin that has been intentionally modified, often to deceive collectors about its value.
ANACS: American Numismatic Association Certification Service, a major coin grading service.
Assay: The testing of a coin’s metal content to determine its purity, often used for precious metals like gold and silver.
Attribution: The identification of a coin, banknote, or medal by determining its origin, mint, year, or variety.

Bag Marks: Small marks or scratches on a coin caused by contact with other coins, usually while in storage bags.
Banknote: A piece of paper currency issued by a central bank or treasury, used as legal tender for transactions.
Barter: A system of trade where goods or services are exchanged without using currency.
Bi-metallic Coin: A coin made of two different metals, often with an inner core of one metal and an outer ring of another (e.g., the Philippine 10 Peso coin).
Blank (Planchet): A flat, blank piece of metal that will be struck with a design to create a coin.
Bullion Coin: A coin made from a precious metal, such as gold or silver, primarily valued by its metal content rather than its face value or rarity.
BU: A coin that has never been in circulation and has the same condition since minted.

Circulated: A coin that has been used in transactions, showing signs of wear from handling.
Clad Coinage: Coins composed of layers of different metals, often a core of one metal and an outer layer of another (e.g., copper-nickel clad coins).
Commemorative Coin/Banknote: Currency issued to honor a significant event, person, or anniversary. These are often made in limited editions and sold to collectors rather than intended for circulation.

Countermark: a mark or inscription that is applied to an existing coin, typically to alter its value, purpose, or ownership.
Counterfeit: A fake coin, banknote, or medal created to deceive collectors or circulate as illegal tender.
Crown: A large coin, traditionally made of silver or gold, often struck to commemorate significant events.

Denomination: The stated face value of a coin, banknote, or medal, such as 1 Peso, 50 Centavos, or 5 Pesos.
Die: A metal tool used to stamp designs onto a blank coin or medal during the minting process.

Die Break: refers to a flaw that occurs during the minting process when a coin's die (the metal stamp used to strike the coin) becomes damaged or develops a crack. This damage can result in a raised or depressed feature on the coin's surface,

Die Variety: A coin with slight differences in design due to variations in the die, often collectible if significant.
Doubled Die: A coin that shows doubled images caused by a die that was struck twice with a slight misalignment.

Dos Mundos: A synonym to the Spanish Dollar 8 Reales also known as "Pieces of eight".

Edge: The outermost edge of a coin or medal, which can be plain, reeded, or inscribed with designs or lettering.
Error Coin/Banknote: Currency with mistakes from the minting or printing process, such as misaligned strikes, incorrect dates, or printing errors, often making them valuable to collectors.

Escudo: A kind of Spanish Gold Coin that started in the 15th century.
Exonumia: Collectibles related to numismatics but not official currency, like tokens, medals, and scrip.

Face Value: The nominal value stated on a coin or banknote, which may be different from its actual market value or intrinsic value.
Field: The blank, flat part of a coin or medal’s surface, usually the background behind the design.
Fiat Currency: Currency that has no intrinsic value and is not backed by a physical commodity, but instead by the government that issues it.

Frozen Date: Minting of a coin over the course of a number of years without changing the date.

Grading: The process of evaluating the condition or quality of a coin, banknote, or medal, often determining its value.

Hairlines: Very fine scratches on the surface of a coin, often resulting from improper handling or cleaning.

ICG: Independent Coin Grading Company, is a TPG.
Intrinsic Value: The value of the metal or materials in a coin or banknote, which may be higher or lower than its face value.

Junk Silver: Common or worn silver coins that are valued for their silver content rather than their numismatic value.

Key Date: A specific date of a coin or banknote that is particularly rare or difficult to find, making it more valuable to collectors.

KM #: Numbering system used by the standard catalog of world coins

Legal Tender: Currency that must be accepted as payment for debts, as specified by the issuing government.
Legend: The inscription or wording found on a coin, banknote, or medal, often including the name of the issuing authority.
Lot: A group of coins sold together, especially at auctions.
Luster: The shine or brilliance of a coin’s surface, typically seen on uncirculated or mint-state coins.

Matte: An intentionally non-reflective finish used on certain coins.
Medal: A piece struck to commemorate an event, achievement, or honor an individual, usually without a denomination and not meant for circulation as currency.

Melt Value: Is the value of the precious metal's content on a coin base on the current spot price.
Mint: The facility where coins and medals are produced.
Mint Mark: A small letter or symbol on a coin indicating where it was minted.
Mint State (MS): A term used to describe a coin that has not been circulated and retains its original condition, graded on a scale from MS-60 to MS-70.

Mule: A coin minted using two different dies

Numismatist: A person who studies or collects coins, banknotes, tokens, or medals.
Numismatics: The study and collection of coins, banknotes, medals, and other forms of currency.
NGC: Numismatic Guaranty Corporation, a professional coin grading service.

Obverse: The front or "heads" side of a coin, banknote, or medal, usually featuring the main design or portrait.
Off-Center Strike: A coin or medal that has been struck improperly, with part of the design missing because it was not aligned correctly in the minting process.
Overdate: A coin that has a changed date on it, but still shows traces of the original date

Overstrike: A synonym to counterstamp.

Pattern Coin: A trial coin or prototype not intended for circulation, created to test designs or minting techniques.
Patina: A natural layer of color or oxidation that forms on a coin or medal over time, which can add to its aesthetic appeal and value.

PCGS: Professional Coin Grading Service, is a TPG.
Planchet: The blank piece of metal that is struck to make a coin (also called a blank).
Proof: A coin or medal that has been struck with polished dies and planchets to create a sharp, mirror-like finish, often produced in limited quantities for collectors.
Prooflike (PL): A coin with mirrored fields and frosted details, similar in appearance to proofs but not minted as proofs.

Rare Coin: exceptionally hard to come by and are usually very few in number.

Reeded Edge: The grooved or ridged edge of a coin, often used as a security feature to prevent counterfeiting.
Reverse: The back or "tails" side of a coin or medal, often featuring a secondary design or inscription.
Restrike: A coin that is re-minted using original dies, often after the official issue period has ended.

Scarce Coin: limited but slightly more accessible than rare coins.

Series: A group of coins, banknotes, or medals with the same design, usually issued over multiple years.
Sheldon Scale: A 70-point scale used to grade coins, ranging from 1 (Poor) to 70 (Perfect Mint State).
Slab: The plastic holder used by grading companies to encapsulate coins, often with a label indicating its grade.
Specimen: A specially struck coin or banknote with a higher quality finish than regular issues, often produced in limited quantities for presentation or collecting.

Token: A piece resembling a coin, often used in place of money for specific purposes, such as transportation, amusement parks, or promotional items.
Toning: The discoloration that occurs on a coin’s surface over time due to chemical reactions, often adding character and value to older coins.

Uncirculated: A coin or banknote that has never been used in commerce and remains in mint or near-mint condition.

Variety: A type of coin, banknote, or medal that differs slightly from others of the same year and design due to variations in dies or minting processes.
Victory Notes: Special banknotes issued during or after a conflict, such as the Philippines' Victory Series notes issued after World War II.

Wear: The degradation of a coin’s surface over time due to handling, circulation, or environmental factors.

X-Ray Fluorescence (XRF): A non-invasive method used to analyze the metal composition of coins and medals without damaging them.

Year Set: A collection of coins or banknotes from a specific year, often featuring all denominations issued by a country during that period.