Coin Collecting Glossary

No Discussion of the Peace Dollar could be complete without understanding the language numimatists and hobbyists use when discussing the coins. Coin collecting has its own language including specialized terms. The following is not an exhaustive list but is typical of most of the terms you'll find at coin auctions, coin shops and websites. If you're just beginning your coin collecting journey understanding these terms will help greatly. These are the most common of terms you'll find.

Alloy - Two or more metals combined in a coin such as cupro-nickel or cupro-zinc.

Ancient - Coins minted before 500 A.D.

Bag marks - Nicks, marks and scratches that result from coins in a bag coming in contact with each other.

Blank - A round pieces of metal stamped for subsequent minting into coinage.

Bullion - A coin made of gold, silver or other precious metal with little numismatic value apart from the value of the metal from which the coin is made.

Cameo - The coin has a frosted appearance.

Circulated coin - A coin that was used as money and shows some degree of wear.

Commemorative coins - Coins with a design of some historical or current event, anniversary or famous person.

Error coins - A coin minted by mistake or with a design different than intended.

Grade - The condition of a coin determined by specific guidelines.

High points - The highest part of a coin's design where the first signs of wear and tear generally appear.

Legend - The words that are inscribed around the outer edge of a coin, for U.S. coins the legend is E Pluribus Unum.

Mintage - The total number of coins of a denomination, date and type produced by a mint.

Mint mark - A symbol that identifies which mint produced a coin.

Mint state - An coin in the same condition as when it was originally minted.

Numismatics - The study of coins, paper currency, tokens, medals, and other similar items.

Obverse - The front side of a coin.

Proof coins - Coins that are struck with specially polished.

Reverse - The back side of a coin, opposite side of the obverse.

Rim - The outer edge of a coin.

Slab - A sealed plastic enclosure used to protect a coin from damage after grading.

Un-circulated coin - A coin that has never been used as money and has no visible signs of wear.

Variety - Any change in the design of a coin results in a new coin variety.