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. |
