Numismatic terminology

Numismatics (ancient Greek: νομισματική) is the scientific study of money and its history in all its varied forms. While numismatists are often characterized as studying coins, the discipline also includes the study of banknotes, stock certificates, medals, medallions, and tokens (also referred to as Exonumia).

Exonumia: is the study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration.
Notaphily: is the study of paper money or banknotes.
Scripophily: is the study and collection of stocks and bonds.

1 Coins
2 Currency
3 See also
4 References

[edit] Coins

The following terms refer mainly to coins or other forms of metallic money.

Alloy: Homogeneous mixture of two or more elements, where the resulting compound has metallic properties.
Altered Date: False date put on a coin to defraud collectors, usually to make it appear more valuable.
Assay: To test to ascertain the weight and purity of a coin.
Bag Mark: Surface mark, or nick, on a coin usually from contact with other coins in a mint bag. More often seen on large gold or silver coins.
Billon: Low-grade alloy of gold or silver with a high percentage of another metal, usually copper.
Bi-metallic: A coin with one type of metal in the center with an outer ring of a different metal, such as the Canadian toonie.
Blank: Prepared disk of metal on which the coin design will be stamped. In practice,'Blank' is also referred to un-struck side of the coin.
Brass: Copper base alloy with zinc.
Brockage: originally metal wasted in coin production, now coins struck when the previous coin remained stuck to a die, creating an incuse impression in the next struck coin (primarily found in ancient coins).
Bronze: Copper base alloy with tin.
Bullion: Precious metals (platinum, gold and silver) in the form of bars, ingots or plate, or where quantity is considered as a valuation.
Business Strike: Uncirculated coin intended for use in commerce.
Carat: Unit measurement of the weight of precious stones. Usually marked 'c' or 'car'. 1 carat = 200 milligrams. Not to be confused with 'Karat' used with gold.
Centum: One one-hundredth of the basic monetary unit from Latin, English cent, Romance languages centavos, centimos, centesimos or centimes usually one hundredth of a base unit like dollar, euro, peso etc.
Certified Coin: Coin that has been graded and authenticated by one of numerous independent grading services.
Circulated: Term used to indicate a coin that has wear.
Clad Coinage: Issues of coins that contain a center core and outer layer of differing alloys.
Collar: Outer ring of the die chamber that holds the blank in place while the obverse and reverse are being stamped.
Contact Marks: Minor abrasions on uncirculated coinage from contact with other coins.
Countermark or Counterstamp: Partial or complete over-stamping of a coin or token in order to change its value or issuing authority, or to display an advertisement, political slogan or symbol, etc. Stamping may consist of a number (value), symbol (authority), letters (advertisement or slogan), or any combination of the above.
Crown: Large coin often struck in precious metal. Modern crowns are usually not highly-circulated. For instance, the U.S. mint strikes a dollar-size silver coin with a diameter of 38.61 mm.
Debase: To lower the silver/gold value of the coin by altering its purity, but with the same market value as the pure coin.
Denticles: A small toothlike projecting point on the edge of coins.
Designer: Artist or creator of a coin's design.
Device: Pattern or emblem used in the design of a coin.
Die: Metal piece with the design used for stamping the coin.
Die Clash: Caused when a blank coin planchet fails to be placed between two dies during the minting process, causing the empty dies to smash together. The design of one or both may impress into the opposite die, causing a "shadow" of the design to appear on subsequent coins minted with the damaged dies.
Die Crack: Fine raised line on a coin that was caused by a crack in the die.
Die Defect: Imperfection of various sorts caused by a damaged die. May refer to a crack or clash or a chip out of the die, etc.
Die Variety: Minor alteration in the basic design of a coin throughout its lifespan.
Dipped, Dipping: Chemical cleaning of a coin with a diluted acid. Common in the 1960s and '70's but it was discovered that dipping destroys the surface of the coin, thus dramatically reducing the coin's value.
Double Eagle (U.S.A): United States gold $20.00 coin.

Example of extreme doubling on the date of a coin

double strike: coin where a die struck, bounced, then struck again, offset from first strike (used for ancient coins where hubs were not used).
Double Die: Die that received two misaligned impressions from a hub; more commonly, a coin struck by such a die.
Doubloon: Popular name of a Spanish gold coin originally valued at $16.00.
Dump (Australia): Centre of the holey dollar with a value of fifteen pence.
Eagle (U.S.A): United States $10.00 gold coin as well as all bullion pieces made from 1986 through the present.
Edge: Rim of a coin often containing a series of reeds, lettering or other decoration.
Effigy: The image or likeness of a person/s.
Electrotype: Reproduction made by electrodeposition frequently used in museum displays.
Electrum: Naturally or artificially occurring mixture of gold and silver used in some of the world's first coinage.
Elongated coin: An oval medalet produced by a roller die using a coin, token or medal as a planchet, usually a cent.
Encapsulated Coins: Authenticated, graded and preserved in plastic by an independent service.
Engraver: Person who cuts the image of a design onto a die.
Error: Usually a mis-made coin not intended for circulation, but can also refer to an engraving or die-cutting error not discovered until the coins are released to circulation. The mis-made coin errors are usually unique, but the engraving errors appear on all of the coins produced until the error is corrected.
Essai, Essay: A trial strike, also in currency a strike intended to test the design.
Exergue: A segment of the coin design separated by a line (usually indicating the ground in the main design) in which a legend is placed/inscribed.
Fantasy: Generally a representation of a rare or never issued coin.
Field: Background area of a coin not used for a design or inscription.
Filler: Coin that is worn but rare enough for inclusion in a collection.
Fineness: Purity of precious metal content expressed in terms of one thousand parts. 90% is expressed as .900 fine.
Flan: Blank metal piece before striking, also called a planchet or blank.
Fleur du coin (FDC): Coin of exceptionally high quality, where quality is determined not just by wear of the coin in circulation but also by the wear and artistic quality of the dies from which it was minted. These factors are crucial for ancient coinage where variability was higher than in modern mints.
Gem: Coin of exceptionally high condition.
Grade: The condition of a coin or amount of wear that a coin has received.
Hub: Positive-image punch that impress' the coins design onto a die.
Holey dollar (Australia): Spanish dollar with a hole in centre, stamped with New south wales 1813 on obverse and five shilling on reverse.
Incuse: Part of the coins design that has been impressed below the surface (intaglio).

Gold ingots from the Bank of Sweden

Ingot: Mass of pure metal from a mould with a certain value and purity.
Inscription: Lettering and wording on a coin.
Intrinsic Value: Current market value of the raw precious metal content of a coin.
Karat: Unit measurement of the purity of gold. Usually marked 'K', or 'k'. 24K = pure gold, 18K = .750 fine. Not to be confused with 'Carat' used with precious stones. Note that both originally referred to the seed of the carob tree ('Ceratonia siliqua' or 'Siliqua Graeca'). A Roman coin called the solidus weighed 24 'carats' or 'siliquae', 1/6th of a scruple; this became the standard in purity in western Europe.
Cast Coins: Coins produced by pouring metal into a mold.
Key Coin: Rarest or highest valued coin within a series.
Laureate: Head crowned with a laurel wreath.
Legal Tender: Coins or currency which must be accepted in payment of debt.
Legend: Principle inscription on a coin.
Lettered Edge: The outside edge of a coin containing an inscription.
Low Relief: A coin with the raised design not producing as much as that said to be usual.
Luster: Appearance of a coin's ability to reflect light; brilliance.
Master die: Original die from which working dies are made.
Milled Edge: Raised rim around the outer surface of a coin.

The "3-leg" Mint error was created by polishing a damaged reverse die with an emery stick.

Mint Error: Defective coin produced by a mint.
Mint Luster: Shiny "frost" on the surface of an uncirculated or mint coin.
Mint Mark: Small letter (or other symbol) indicating which mint the coin was struck at.
Mint Roll: Uncirculated coins set wrapped by issuing authority of a certain quantity.
Mint Set: Set of uncirculated coins packaged and sold by the mint.
Mis-strike: Off centre striking of a coin.
Motto: Inspirational phrase or wording.
Mule: Coin struck from two dies not intended to be used together.
NCLT: Non circulating legal tender. 1 commemorative coins, 2 old coins, 3 rare coins, 4 restricted coins.
Obverse: Front or face side of coin.
Overdate: Shown date made by superimposing numbers on a previously dated die.
Over Graded: Coin in worse condition than stated.
Overstrike: Impression with new dies on a previously struck coin.
Patina: Surface film caused by oxidation, usually green or brown, mostly found on older silver, copper or bronze coins.
Pattern: Experimental or trial coin of a new design, denomination or metal.
Pedigree: Record of previous owners of a rare coin.
Piefort: A piece struck on a planchet twice or more the normal thickness. The French spelling used in Europe is piedfort.
Planchet: Blank prepared piece of metal on which the coin is struck.
Privy: Small mark, often hidden, on a coin, traditionally to indicate the mintmaster or moneyer.
Proclamation Coins: Coins declared legal tender even though they are not issued by the sovereign, but by another sovereign.

2002 Lincoln cent, Obverse, proof with cameo.

Proof: Coins specially struck for collectors using polished dies and planchets.
Proof Set: Set of proof coins packaged and sold by the mint.
Punch Mark: Coin struck from 'punching' the coin with symbols or seal. Ex: Five Punch Marked coins of ancient India. Punch Marks generally represent animals, tree, hills, and human figures.These coins were issued by royal authority and generally marked with banker's punches on the reverse.
Quarter (U.S.A./Canada): United States or Canada $0.25 coin. Short for Quarter Dollar.
Quarter Eagle (U.S.A): United States $2.50 coin.
Raw: Coin that has not been encapsulated by any coin grading service.
Reeded Edge: Edge of a coin with grooved lines around the perimeter. Also known as a milled edge.
Relief: Part of the coin's design that is raised above the field.
Re-strike: Coin struck from genuine dies at a date later than the original issue.
Reverse: Back side of the coin.
Rim: Raised portion of the design along the edge, that protects the coin from wear.
Round: Round one ounce silver bullion piece.
Series: Set of years coin was minted with a specific design and denomination.
Scruple: One Roman scruple = 1/24 Roman uncia; the modern (nominal) estimate of the weight of the Roman scruple is 1.125 g.
Slab: Plastic case containing a coin that has been graded and encapsulated.
Spanish dollar: Coin issued in Spain and its colonies from 1497 to 1864. Equal to 8 Reals.
Spot Price: Quoted market value of precious metals in bullion form.
Stainless Steel: A combination of iron, carbon and another element to prevent rusting.

A rare and historic Bechuanaland Border Police canteen token.

Token: Privately-issued piece that has redeemable value for goods or services, but not an official government coin.
Trade Dollar: Silver dollar issued specifically for trade with a foreign country.
Truncation: Sharply cut off bottom edge of a portrait or bust.
Type: Coin's basic distinguishing design.
Type Set: One of each coin of a particular design, series or period.
Uncirculated: Coin that has never been used, thus retaining its original luster.
Uniface: A coin struck with design on one side.
Unique: Item of which only one is known to exist.
Upset: A coin struck which the obverse and reverse are at different angles to each other.
Varety: Coin's design that sets it apart from the normal issue.
Year Set: Set of coins for any specific year containing one of each denomination of that year.

[edit] Currency

These terms are associated with banknotes.

Back: Preferred term for the reverse side of a note.
Back Plate Number (U.S.A): Small number found on the lower right side of the back of a bill. Officially known as a Check Number, it provides a cross-reference to the Plate Serial Number on the front.
Bank Note: Paper currency issued by a bank as opposed to a government.
BEP (U.S.A): The Bureau of Engraving and Printing (United States).
Border: Outer edge of the design on the back and front where the design ends and plain currency paper begins.
Brick (U.S.A): Unit of measurement used by the BEP. A strap is 100 notes banded together, forty straps make a brick. Consists of 4000 notes weighing about 81/2 pounds.
Broken Bank Note: Currency issued by a now defunct bank. Also referred to as obsolete banknote.>
Check Number: Small number found on the lower right of a note, used to cross reference plate numbers.
Condition: Grade or state of presevation of paper currency.
Continental Currency (U.S.A): Paper money first issued in 1775 by the Continental Congress, originally backed by Spanish milled dollars.
Counterfeit: Currency specifically created to look like genuine currency with the intent to defraud.
Currency: Legal tender referring usually to paper money, but can be applied to coins and notes.
Decimalisation: A process of changing the ratio between the main and the subunit of a currency to an integral power of 10. This is not to be confused with Redenomination.
Denomination: Face value or amount a coin or note is worth.
District Number (U.S.A): The Federal Reserve District Number appears four times on the face of a bill for identification purposes.
Engraving: Labor intensive process where the design of a bill is engraved onto a steel printing plate.
Error Note: Piece of currency that has a manufacturing mistake or misprint.
Face: Preferred term for the front side of paper currency.
Federal Reseve District Seal (U.S.A): Found to the left of the portrait on United States currency, it identifies the Federal Reserve Bank that issued the note.
Federal Reserve Bank Note (U.S.A): Series of U.S. paper money once authorized by the Federal Reseve, now obsolete. The bank that issued the note was obliged not the Federal Reseve System.
Federal Reserve Note (U.S.A): The only form of money now being printed by the United States.
Gold Certificate (U.S.A): Form of U.S. paper money redeemable for gold coin at one time.
Grade: Condition or state of preservation of a piece of paper money.
Greenback (U.S.A): Issued in 1861 as a Demand Note. Green Ink used as an anti-counterfeiting measure. Today, almost all US currency is termed "Greenback".
Horseblanket (U.S.A): Popular term for large size U.S. notes.
Imprint: Name of printer on the note.
Large Size (U.S.A): Refers to U.S. paper money that measures 7 3/8 x 3 1/8 inches, issued from 1861 to 1928.
Micro-Printing: Anti-counterfeiting measure where printing within certain areas can be as small as six thousandths of an inch.
Obverse: Front side of paper money, preferred term being face.
Prefix: Letter/s over number with numbers following in serial number.
Press: High speed machinery on which paper money is printed.
Printing Plate: Sheet of steel onto which the note design has been engraved.
Radar note: A banknote in which the serial number reads the same backwards as forwards
Redenomination: The replacement of old currency for newer currency, this usually involves the taking off of some zero's, example 10,000 becomes 10, or 1000 old soles= 1 new sole.
Replacement Note: A note printed with a special symbol before the serial number, or with a special serial number prefix, used to replace notes damaged during the manufacturing process. US replacement notes are called Star Notes because a five pointed star is positioned at the beginning or end of the serial number. Older Canadian replacement notes are known as asterisk notes because an asterisk preceded the serial number. Modern Canadian replacement notes use a special serial number prefix. Italy reserved the letter X as the first letter of the serial numner in replacement notes before adopting the euro. Other countries may use different methods.
Reverse: Back side of paper money.
Reserve bank: Central bank of some countries.
Security Thread: Anti-counterfeiting measure of a polymer strip embedded into the currency paper. Usually visible when held to bright light and glows red when held to ultraviolet.
Series: Set of years banknote was printed with a specific design and denomination. See also series (United States currency).
Serial Number: Identifying number on a note, used to track production and anti-counterfeiting. Serial numbers on US notes are on the face, but other countries' notes can have them on the back or on both sides.
Series Date: Notes are dated when they were authorized or first issued. Notes carry that same date throughout their lifespan.
Silver Certificate (U.S.A): Once redeemable for silver and still considered legal tender at face value. Issued by the U.S. government in 1878.
Small Size (U.S.A): Refers to modern U.S. paper currency that measures 6 1/8 x 2 5/8 inches, first issued in 1929.
Star Note: See replacement note above.
Suffix: Letters that appear after serial numbers (123456ADE).
Syngraphics: Word coined in 1974 to denote the study and collecting of paper money. Based on the Latin word syngrapha, meaning a written promise to pay.
Treasury Note (U.S.A): Also known as a coin note, they were first issued in 1890 and redeemable for gold and silver coins.
Uniface: Banknote with printing on one side only.
Vignette: Picture on a note that fades into the background rather than being framed by a border.
Watermark: Embedded anti-counterfeiting design created by varying the density and thickness of the paper. Can be seen when held up to light.

[edit] See also

Numismatics Portal

Wikimedia Commons has media related to:

Coins

[edit] References

Coin World Glossary
Dictionary.com
A Guide Book of United States Coins by R.S. Yeoman ISBN 0-7948-1790-4
2005 Blackbook Price Guide to United States Paper Money ISBN 1-4000-4839-7
"Numismatic Terms and Methods" from the American Numismatic Society

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