COMMON COIN TERMS
As you get into the wonderful world of currency searching, it is important to understand some of the common coin terms used in the hobby. Below is a table of the common coin terms and definitions. We add things to this list as necessary, it is obviously not a hugely extensive list of common coin terms, but nevertheless a good source to get you started.
Happy coin searching folks!
TERM |
DEFINITION |
Assay |
A means of guaranteeing the quality and purity of gold or silver. |
Bag marks |
Small nicks and abrasion marks coins may receive during initial transportation process. |
Brilliant Uncirculated |
New coins that are in immaculate condition and have never been in circulation. |
Buy/Sell Spreads |
The difference between buying and selling prices relative to the spot price. |
Circulated |
Coins that have been distributed and used as public currency. |
Condition |
The grade of a coin (Mint State, Extremely Fine, etc.) |
Date |
The year of issue for a coin. |
Grade |
An evaluation of the amount of wear on a coin. The Sheldon scale rates coins from 1- 70 numerically, while the adjective scale runs from Basal to Mint State. Color considerations and strike quality can also be factors in grading. |
Legal Tender |
Coins that can be used as national currency. |
Liquidity |
The ease of buying and selling. |
Mint |
The facility that manufactured the coin. |
Obverse |
The front side of a coin, usually depicting a head or face. |
Population |
Refers to how many coins have been certified by a given grading service in that particular grade. |
Proof |
These coins have been struck with special dies that create greater pressure for a more highly polished and clear design. Collectible and often trade at higher premiums. |
Purity |
The percentage of precious metal content of a coin. |
Reverse |
The back side of a coin. |
Spot Price |
The up-to-date value of a precious metal determined by latest market trades. |
Weight |
The weight of a coin. |
Expert Attribution: Check the V.E.R.A. Rarity Aggregator - Banknote Value Tool or view our Live Price Guides to value your collection.
VarietyErrors
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