Glossary
- Alloy
- A combination of two or more metals.
- Bagmarks
- Marks on coins as a result of being held in a mint bag and coming in contact with other coins. Most often, bagmarks include small nicks or abrasions. They do not cause a coin to be circulated. Coins that grade as high as Mint State 67 can still have bagmarks.
- Buffed
- The polishing of a coin sometimes with an abrasive that leaves a finish that attempts to counterfeit mint luster. A buffed coin often is worth less than one that has not been cleaned.
- Bullion Coin
- Coins made of precious metal and traded at current bullion prices, or at a small premium over bullion.
- Bust
- Portrait on a coin, usually the head or head and shoulders.
- Cameo (also Deep Cameo)
- Refers to a proof coin with high contrast between the mirror finish and the frosted sculpturing which usually due to the coin being struck multiple times.
- Circulated
- Applies to coins that have been spent through commerce. These coins show signs of wear ranging from slight rubbing to heavy use.
- Clad
- Clad coinage is a term used to describe coins that have a core of one type of metal and an outer layer of another metal or metals. US dimes, quarters, and half dollars since 1965 have been clad. Clad differs from a plated coin in that the clad blank (or planchlet) is treated to seal the layers of metal together.
- Commemorative (Commem)
- a special coin or medal issued to honor an outstanding person, place, or event. Often one time or short lived production. Many times commemorative coins are not produced for general circulation.
- Die
- A piece of metal engraved with a design and used for stamping coins.
- Dipped, Dipping
- Refers to chemical cleaning of a coin to remove oxidation or foreign matter.
- Fineness
- The purity of gold, silver, or any other precious metal, expressed in terms of one thousand parts. A coin of 90% pure silver is expressed as .900 fine.
- Grading
- The process of quantifying the condition of a coin. Modern coins are graded using the Sheldon Numeric System. The Sheldon system grades a coin using a value from 0-70. The designations include:
- BS, PO-Basal State or Poor: BS1, PO1
- FR-Fair: FR2
- AG-Almost Good or About Good: AG3
- G-Good: G4, 6
- VG-Very Good: VG8, 10
- F-Fine: F12, 15
- VF-Very Fine: VF20, 25, 30, 35
- XF or EF-Extra Fine: XF40, 45
- AU-Almost Uncirculated: AU50, 53, 55, 58
- MS(Unc)-Mint State Uncirculated: MS60-70
- Obverse
- The front side of a coin often referred to as “heads.”
- Planchet
- A blank round piece of metal from which the coin is struck. Sometimes called a flan.
- Proofs
- Coins which are minted by the government specifically for collectors and never introduced into circulation. Proof coins are struck multiple times on specifically detailed dies, which elevates the sculpturing and accentuates the detail. The backgrounds are highly polished for a mirror-like finish. Proof coins can be graded using the same Sheldon system but will have the designation PR for Proof instead of MS (Ex. PR70).
- Proof Set
- A set of each of the Proof coins made during a given year, packaged by the Mint and sold to collectors.
- Reverse
- The back side of a coin often referred to as “tails.”
- Slab
- A plastic capsule holder used by coin graders to help preserve and protect the coin, coins are usually sonically sealed in a slab.
- Uncirculated
- Applies to coins that have never been in circulation. Term indicates a coin without wear due to the conduct of commerce. Uncirculated does not mean without any wear or marks (See Bagmarks).
- Whizzed
- A whizzed coin has been buffed or polished to give it the appearance of the luster found on a mint coin. Often whizzing is done on a high grade coin to try to sell the coin at a higher grade than it really is. Sometimes done by using a fine brush attachment on a high speed drill. Whizzing a coin may hurt the value of it rather than help it because it actually causes wear to the surface of the coin.
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