This section is a brief description of general coin terms uses by both coin collectors and/or coin dealers. If you hear a term that you are not familiar with, you can look it up on our website, if you don’t see a term please email us and we will try to get you an explanation.

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

A

About Good/AG3: This is a grade of a coin that is below Good on the Grading Scale which only the main features are present. The detail on the outer rim is partially worn away (Date, Stars, and Motto).

Abrasions: Areas where an object has displaced metal, these are similar to “Bag Marks”, but are much more deep and acute.

AGW (Actual Gold Weight): This refers to the amount of pure gold that the coin, bar or medal contains. This doesn’t refer to the actual weight of the item, just the amount of refined gold in the item.

Almost Uncirculated/AU: This is a grade of coin that is just below Uncirculated (Mint State); these coins have only slight wear on the high points of the coin.

Alterations: Alterations is the practice for either adding or removing a feature of a coin in the attempt to deceive collectors. Several common examples of this are adding for S’s to the 1909-VDB Penny, or removing of the mint mark on the 1928-S Peace Dollar.

Artificial Toning: Artificial Toning is the Art of creating colors to the coin by various means in an attempt to increase the value of the coin. There are 2 Main reasons to tone a coin, first to conceal damage or a previous cleaning of the coin, which would reduce its values, secondly to give the coin a more natural look with better eye appeal.

Assay: To scientifically calculate the purity of metals in a bar or coin generally for gold, silver or platinum.

Authentication: The process of determining if a coin is genuine or not.

B

Bag Marks: Bag Marks are the minor to major nicks and abrasions from coin coming in contact with other coins in the same mint bag. These are very common in large coins, such as half dollars and dollars.

Body Bag: A Slang term for a coin that has been returned from a 3rd Party Grading Service without being encapsulated. This can be due to improper cleaning, damage, or authenticity.

Brilliant Uncirculated: A generic term used to any coin that had not been circulated, but usually lacks “Mint Luster”.

Bullion: A Coin or Bar that is composed primarily of precious metal (Gold, Silver or Platinum) which derives all or most of its value off of the precious metal that it contains.

Business Strike: A coin that was struck with the intent to be used in regular commerce.

C

Certified Coins: Certified Coins are often referred as “Slabs” and are coins that have been sent to an independent grading service (PCGS, NCC, etc.) to be graded and to be authenticated.

Circulated: Circulated refers to coins or currency that has been used as normal commerce, and show some type a wear.

Cleaned Coins: When someone refers to “Cleaned Coins” is normally refers to a coin that has been cleaned with a chemical that gives the coin an unoriginal color, and someone has used an abrasive material to clean the coins leaving “Cleaning Lines” in the coins surface.

Cleaning Lines: The term refers to a coin that has been improperly cleaned with a abrasive item, which leaves swirl marks or diagonal lines running in different directions in the surface of the coin. The main difference between “Die Polish Lines” and Cleaning lines is the cleaning lines in small scratches in the surface of the coin while die polish lines are raised.

Cull: Cull coins refers to a coin that is worn to the point of being barely identifiable or coins that have be damaged.

D

Die: An engraved metal punch that carries the design of 1 side of the coin it was designed to create.

Die Crack: Die Cracks are fine raised lines that typical go from one detail in the design to another; they are usually not a single straight crack, but a series of small erratic cracks to connect the two points of the design.

Die Polish Line: Die Polish Lines are small scratches that are created when they employees at the mint refinished the dies and create small linier lines. They tend to run in one direction, and you will only see them in the “Fields” of the coins, and not on the design, also they are slightly raised and not “Scratched” in the surface.

E

Eye Appeal: This refers to the overall attractiveness of a coin.

F

Face Value: The value that is imprinted on the coin or currency when it was produced.

Fine/F: This is a grade of coin that is just below Very Good, these coins have heavy wear over the entire coin, but are still very readable.

Focal Area: The area of the coin in which the collector tends to look at first, or is more concerned about the visual appearance, example the check area on a Morgan Dollar.

Full Bell Lines/FBL: This is reference to the Franklin Half Dollars which on the lower part of the bell have 4 lines that are complete and free of missing sections.

Full Steps: This is a reference to Jefferson Nickels of the 5 steps of the Monticello are present.

G

Good/G: This is a grade of coin that is just below Very Good, these coins have extremely heavy wear over the entire coin, with most of the design worn away, just leaving an outline of the design remaining.

Grade: This term refers to the quality of the coin or currency. The grading scale is a scale from 1 (Cull) to 70 (perfect coin) and everything in between. It should be noted that grading is somewhat subjective, and that every collector should spend ample time learning to grade coins that they intend to collect.

H

Hairlines: Hairline is a series of small lines or scratches, usually visible in the fields of coins. This is caused by improper cleans, or poor storage. This can reduce the value of this coin.

I

Impaired Proof: This refers to a Proof Coin, that has damage or wear that would cause to coin to grade less than Uncirculated.

Incuse: Incused is when the design of a coin in imprinted below the surface of the coin. The 2 examples of this type of coin are the 2 ½ and 5 Dollar Indian Gold Coins. Because of this design, it is difficult to detect a counterfeit coin made like this.

J

Junk Silver: This is a term used for 90% Silver coinage when its value comes from the silver that it contains rather that its collector values. As Silver rises, coins that once carried a small collector value may become “Junk Silver”. But the term doesn’t mean that these coins are in poor or unusable condition. Most of these are in very good condition, but are so common in that condition, that the silver is worth more than the coin is to a collector.

K

Key Date: Key Dates refer to a coin that is the very rarest coins in a series and therefore the most expensive coins. Key Dates even in low grades are very valuable and highly sought after.

L

Loupe: Usually a hand held magnifier used to examine coins. These come in different lens strengths or “Powers”. The ANA recommends using a 5 to 7 Power Loupe.

M

Machine Doubling: Machine Doubling (Die Bounce) is a result of loose dies during striking. The design will only be slightly doubled and that the two doubled design will be lower then the strong design.

Melt Value: Melt Value is the value of a coins precious metal content multiplied by the current market value of that precious metal.

Mintage: Is the amount of one particular coin which was produced during a period of time (usually 1 year).

N

NGC: Is Short for Numismatic Guaranty Corporation, which is a third party grading service for coins, and paper currency.

Numismatist: An individual who studies or collects money or substitutes of it (Tokens, Bank Notes, etc...)

O

Overdate:The re-engraving of the die to change the date (the date is made by superimposing one or more different numbers on a previously dated die)

P

Plated: A terms used to describe a coin that has had a very fine medal added to it; Zinc pennies are often plated with zinc to make them appear Uncirculated.

Plugged: A term used when to describe when a coin with a hole in it has been repaired.

Proof Coins: A coin that is struck off of specially prepared coin dies and planchets. Proofs are usually struck twice, with slower speed but more pressure. 

Proof Like: Is very similar to Deep Mirrored Proof Like, but the fields do not reflect images as a clear image (especially small text). These coins are closer to value of a non-proof like coin that a DMPL.

Q

R

Redbook: This yearly retail price guide of U.S. coins has been printed annually since 1947.

Replica: Is a copy or reproduction of a coin, usually marked as such and not designed to fool the collector.

S

T

U

V

W

Whizzing: Whizzing is the alteration of a coin’s appearance by using a rotating tool to move metal to lower areas of the coin, which gives the coin an unnatural appearance, but is done to give the appearance of being a higher grade coin. If you examine the small details around lettering and small parts of the design, you will usually see the original surfaces, because they tools have difficulties getting into the small areas.

X

Y

Z