Coin

Like all collectibles, the rare coin market has its own terms and slang. The following is a brief definition and explanation of the most frequently used coin collecting terms.

NOTE:This is a work in progress and we would love to hear your comments and suggestions. Send your thoughts to [email protected].

Lingo for "U"

 
Ultra High Relief
Alternate name for the Extremely High Relief.
ultra rarity
Term used for a coin or other numismatic item that is represented by only a few examples.
Unc
Short for uncirculated.
Uncirculated
Term to indicate a coin or numismatic item that has never been in circulation, a coin without wear. See “Brilliant Uncirculated,” “Mint State,” and “new.”
underbidder
The individual or entity that executed the bid preceding the winning bid. Close, but no cigar.
Universal Rarity Scale
A collectibles rarity information scale developed in 1998 by 21 major collectibles experts in order to both define rarity within their individual markets and allow collectors and dealers from different collectibles markets to more easily communicate with one another. The Universal Rarity Scale is a 10 point scale. The least rare collectible items are those where more than 10,000 examples are estimated to exist. These items are designated “UR1” and are described as “readily available.” The rarest items are those where only one example is known to exist. These rarities are designated “UR10” and are described as “unique.”
Upsetting Mill
A machine that raises the outer rim on a planchet prior to striking. Upsetting ensures that the rims are properly formed during striking.
URS
Short for Universal Rarity Scale.
Used
term to describe a coin that has light to heavy wear or circulation.