THE LANGUAGE OF NUMISMATICS

The world of rare coins has a language all its own. The following definitions will help you understand the language of numismatics. Note that all definitions apply to the way the terms are used by the Professional Coin Grading Service (PCGS). Also note the numismatic research is an on-going project and new discoveries are made constantly. Consequently, these definitions are not "carved in stone" but are subject to change as new information comes to light.

WHAT IS A COIN?

Coin: Metal formed into disks of standardized weight and stamped with a standard design to enable circulation as money authorized by a government body.

Token: Metal disk used either as an advertisement or as a substitute for a coin. Tokens are not generally recognized as legal tender.

Medal: Metal disk issued to commemorate an event, person, place, etc., but not intended to circulate as money and not recognized as legal tender.

WHERE A COIN WAS MADE

United States Coin: A coin struck under the authority of the Coinage Act of April 2, 1792, or subsequent acts of Congress, at an official United States minting facility, and either intended for use in the United States for commerce, or to commemorate a specific historical event or person, or by the United States for trade; or intended as a special striking of those coins; or intended as a die trial, restrike, clandestine strike, or private "restrike" of those coins or a pattern of a proposed design for those coins.

Early American Coin: Pre-1800 coins and tokens that were not struck at an official United States Minting facility, but were made in what would become the United States, or specifically intended for use in the British North American colonies. Also included in the "Early American Coin" area are several backdated coins which circulated in the United States in the early 19th Century. These included the 1783 Washington "Unity States" cents (actually struck in Birmingham, England around 1820). Also included in the "Early American coin" area are private contract issues such as the Fugio Cents and Early Confederation patterns such as the Continental "dollars" and Nova Constellatios.

United States Territorial Coin: Post-1800 coins struck in the United States or its territories, or what would become part of the United States, but not struck at a United States Mint, that were intended for use in the United States or its territories. Also, post-1800 coins struck at a United States Mint that were intended for use in its territories or what would become the United States. Examples of post-1800 coins struck in the United States but not struck at a United States Mint, that were intended for use in the United States include California private gold issues. Examples of post-1800 coins struck in a territory of the United States, but not struck at a United States Mint, that were intended for use in the territory include the Mormon gold coins. Examples of post-1800 coins struck in what would become part of the United States, but not struck at a United States Mint include the Texas jolas. Examples of post-1800 coins struck at a United States Mint that were intended for use in a territory include the 1903 to 1945 Phillipines coinage and the Alaska Bingles. Examples of post-1800 coins struck at a United States Mint that were intended for use in what would become the United States include the 1883 Hawaiian coinage.

United States Mint: The official coinage establishment of the United States Government. The legal basis for establishing an official mint and manufacturing coins is the Coinage Act of April 2, 1792. After the Coinage Act became law, government authorities bought a site at Seventh St. and Sugar Alley in Philadelphia and converted the Shubert distillery building into the first United States Mint.

Branch Mint: Any U.S. Government coining facility other than the Philadelphia Mint. The operating dates for United States Branch Mints are:

• New Orleans, Louisiana 1838 to 1909
• Charlotte, North Carolina 1838 to 1861
• Dahlonega, Georgia 1838 to 1861
• San Francisco, California 1854 to date
• Carson City, Nevada 1870 to 1893
• Denver, Colorado 1906 to date
• West Point 1984 to date

United States Provisional Branch Mint: The official San Francisco minting facility from 1851 to 1853, authorized by a congressional act of September 30, 1850, to coin gold ingots and coins. Coins and ingots of $10, $20, $50 and higher denominations were coined.

WHY A COIN WAS MADE

Regular Issue: A coin officially struck at the United States Mint and delivered for commercial purposes (regular strikes and the 1836 and 1839 proof Gobrecht dollars) or special strikings (proofs, specimen strikes, experimental strikes, and special mint set strikes) of those commercial issues made for sale or presentation to collectors or dignitaries. Included in this category are the proofs made in a continuing series even though business strikes of the particular year were not made. Examples are proof only issues such as 1895 silver dollar and 1841 $2 1/2.

Commemorative Issue: Special coin issues minted to commemorate a specific historical event or person and sold at a premium over face value. United States commemorative coins are legal tender and have sometimes been seen in circulation.

Branch Mint Proof Strike: Prior to 1968, proofs were usually only struck at the Philadelphia Mint. Beginning in 1968, proofs were struck at the San Francisco Mint instead of at Philadelphia. Pre-1968 proofs struck at Branch Mints are called "Branch Mint Proofs". Branch Mint Proofs were generally struck to commemorate the openings (or re-opening) of a Mint, or special events, or as presentation pieces. Examples of Branch Mint Proofs include the 1879-O, 1883-O, and 1893-CC Morgan Dollars and the 1838-O half dollar.

Pattern: A test striking of a proposed coin design (whether adopted or not). Patterns often come in other than the proposed metals. Examples are the aluminum and copper strikings of trade dollar patterns.

Die Trial: Test pieces for regular issue, commemorative, early American, and U.S. Territorial coins struck in a different metal than the intended coin. Most of these are simply off-metal strikings made for collectors. Some true die trials, like the copper 1795 $5 do exist. Examples of die trials include the 1864 through 1876 gold coin issues struck in copper and/or aluminum.

Restrike: An officially minted coin struck at a date significantly later than indicated on the coin. Examples are 1873 $3 gold pieces and 1804 $10.

Clandestine Strike: A coin struck at the Mint but without authorization. Clandestine strikes were the work of Mint employees who conspired to "create" numismatic rarities that could be sold to coin collectors. Examples: 1913 Liberty nickel and 1885 Trade dollars. Patterns can also be clandestine strikes. Examples include the 1859 and 1860 so-called "transitional" half dimes.

Private Issue: A coin struck, either outside the Mint or before the U.S. Mint began striking coins in 1792, to satisfy local coinage demand or attempt to gain coinage contracts. Territorial gold issues are private issues. Early American coins are also private issues.

Private "Restrike": An unofficially minted coin struck outside the Mint to satisfy collector demand for certain regular issue dates. These are literally counterfeit coins. Example: 1804 so-called "restrike" Large Cent.

HOW A COIN WAS MADE

Regular Strike: A coin usually struck on an unpolished blank (planchet) and generally given (Business Strike) only one strike from the coining die. For United States coins, regular strikes are known to exist for regular issues, commemoratives, patterns, die trials, restrikes, private strikes and private "restrikes".

Proof Strike: A coin usually struck from a specially prepared coin die on a specially prepared coin blank (planchet). Proofs are usually given more than one strike from the coining die and are usually struck from dies operating at slower speeds with higher coining pressure. Because of this extra care, proof coins usually exhibit much sharper detail than regular strikes. For United States coins, proof strikes are known to exist for regular issues, commemoratives, patterns, die trials, restrikes, novodels, clandestine strikes and private strikes.

Specimen Strike: Prior to 1817, some United States regular issue coins were struck with such obvious care and exhibit such dramatic detail that they look like they could be proof strikings. Unfortunately, Mint records are sketchy, at best, during this time period. There is no official record of proof strikings. These exceptional, possibly proof, early strikings are referred to as specimen strikes.

Experimental Strike: Over the years, the Mint experimented with various striking methods and surfaces for coins. While there are no official Mint records of these coins, their appearance makes it obvious that they are not regular strikings. They have much more detail and exhibit surfaces not evident on regular strikes. It is a matter of controversy as to whether these coins are actually proof strikings. PCGS refers to these coins as experimental strikes (designated as "ES"). Examples of experimental strikes are the 1922 low relief satin "proof" Peace dollars and 1921 high relief Satin "proof" Peace dollars.

Special Mint Set Strike: Because of the coin shortage, the Mint did not produce proof coins from 1965 to 1967. In the place of proof coinage the Mint struck "Special Mint Set" coins. These coins were struck once on regular blanks (planchets) using polished dies. The coins have prooflike surfaces and some of them are very near proof quality. In 1994, matte surface Jefferson nickels were struck from specially prepared dies and blanks. These nickels were issued as part of the 160,000 "Thomas Jefferson Coin and Currency Sets".

SPECIAL DESIGNATIONS FOR REGULAR AND PROOF STRIKES

Prooflike: For United States coins, most regular strikes have lustrous, non-reflective fields. Some impressions of the dies show reflective mirror-like surfaces. These coins are known as Prooflikes. For Morgan dollars, prooflike examples of regular strikes have traditionally been collected as a specialized series. If a Morgan dollar shows a mirror-like clear image at two inches from the surface on both sides, then the coin is referred to as a Prooflike and designated by PCGS as "PL". Should striations obscure the clarity of reflection, then the coins should not be considered Proof-like.

Deep Mirror Prooflike: Morgan dollars with surfaces that show a clear, mirror-like reflection at least six inches from the surface on both sides are known as Deep Mirror Prooflikes and are designated by PCGS as "DMPL"

Full Bands: The reverse design of Mercury dimes (1916 to 1945) features vertical rods bound together with bands at the top, bottom and center. The strike of many Mercury dime issues was frequently weak in the center bands. Specimens which show a distinct line between the two center bands are known as having "full bands". They are given an "FB" designation by PCGS and they command a premium price over non-full band examples.

Full Head: Standing Liberty quarters (1916 to 1930) are often found with a noticeable weakness in strike on the head of Miss Liberty. Specimens which show the full detail of the head are called "Full Heads". PCGS designates Full head Standing Liberty quarters as "FH" and they command a premium over non-full head examples. In order for Type One (1916-1917) Standing Liberty quarters to qualify for this designation the hair strands must be well defined and separated. In order for Type Two (1917-1930) Standing Liberty quarters to qualify for this designation the three cap leaves must be distinct, the ear hole must be evident and the edge of the hairline must be complete.

Brown: United States copper and bronze coins exist with varying degrees of original mint red luster. As these coins age, the mint red color can fade and eventually disappear, turning into a brown color. An uncirculated copper or bronze coin which has lost nearly all of its mint red color is referred to as a "Brown" coin. PCGS designates copper and bronze coins (in grades 60 and above) with less than 10% original mint red color as "Brown" or "BN".

Red and Brown: A copper or bronze coin which has lost some, but not all, of its red color is referred to as a "Red & Brown" coin. PCGS designates copper and bronze coins (in grades 60 and above), with between 10% and 90% original mint red color as "Red and Brown" or "RB".

Red: A copper or bronze coin which has retained nearly all of its mint red color is referred to as a "Mint State Red" coin. PCGS designates copper or bronze coins (in grades 60 and above), with 90% or more of original mint red color as "Red" or "RD".

Cameo Proof: A proof coin that displays a frosted looking, milky-white surface to all, or most raised portions of the design. To qualify as a Cameo both the obverse and reverse must exhibit main devices which are clearly frosted and create a contrast between fields and devices. The majority of pre-1936 U.S. brilliant proof coins have Cameo devices. Cameo proofs for 1950 to 1970 are much rarer than non-cameos. PCGS designates cameo 1950 to 1970 proof coins as "CA".

Deep Cameo Proof: A proof coin whose frosted devices contrasts sharply with its deep mirror-like fields is referred to as a "Deep Cameo". Deep cameos have heavily frosted devices on both the obverse and reverse (with no areas of main devices unfrosted or brilliant) and heavy contrast of the fields and devices. PCGS designates Deep Cameo 1950 to 1970 proof coins as "DC".

TYPES OF PROOF STRIKES

Brilliant Proof: A proof coin with highly reflective surfaces. The vast majority of United States proof coins are brilliant proofs.

Matte Proof: A proof coin with a dull, granular surface caused by the pickling or sandblasting of the dies and/or coins. This was a European coining method circa 1890 to 1920. The Philadelphia Mint experimented with Matte Proofs between 1906 and 1928.

Roman Proof: A proof coin with a satin-like, shimmering surface. Roman proof gold coins were struck in 1908, 1909, and 1910.

Satin Proof: A few brilliant proof coins were struck with surfaces that exhibit a look somewhat between a brilliant proof and a regular strike. They don't have the deeply mirrored surfaces of a brilliant proof. Examples are the 1936 Cent and nickel.

DESCRIPTIONS FOR COINS

Design: An example of specific, major, obverse coin device. A change in coin design occurs when the major device of the obverse is completely changed. Examples of coin designs include Flowing Hair Half dollars, Draped Bust Half Dollars, and Liberty Seated Half Dollars.

Type: An example of a variation in design, size or metallic content of a specific coin design. Changes in type occur when there are: \

1. 1. Significant changes in reverse designs. This is the most common type variation. Examples include small and large eagle Draped Bust silver and gold coins and wheat and Memorial reverse Lincoln cents.
2. 2. Significant changes in metallic content. For example, the 1943 steel cent represents a significant change in metallic content. The 1944-1945 "shell case" cents do not represent a significant change in metallic content.
3. 3. Significant changes in size. For example, small and large size bust dimes and quarters are significant size changes.
4. 4. Significant differences in design relief. The two example of this type are the 1907 High Relief $20 gold, the 1921 High Relief Peace dollar, and 1794 Liberty Cap half cent.
5. 5. Significant design changes in devices. Examples include the three types of three cent silvers; 1859 laurel wreath, no shield Indian Cent and 1860-1864 oak wreath, shield Indian cent; 1913 Buffalo on mound and 1913-1938 Buffalo on base nickels; the "No Drapery" Liberty Seated coinage; the 1793 beaded border and 1794 to 1796 dentricled border large cents. Portrait modifications such as the 1834 to 1836 bust half dollars and 1921 Morgan dollar are not considered significant changes in devices.
6. 6. The addition or deletion of arrows, stars, rays, or mottos. Examples include arrows at date seated coinage, rays shield nickel and no motto/motto gold and silver.
7. 7. Changes to the denomination portion of the legend. Examples include "TWENTY D." and "TWENTY DOLLARS' $20 Liberty gold; no "CENTS" and with "CENTS" Liberty nickels; and "HALF DOL." and "50 CENTS" Bust halves.
8. 8. Significant size changes in major devices. Examples include the large head (1794) and small head (1795-1797) Liberty cap half cents; and the small head (1854-1856) and large head (1856-1889) gold dollars. Changes in lettering size or date size are not considered changes to major devices.

Portrait Modification: Minor changes in the appearance of the devices. For example, Capped Bust half dollars had a portrait modification in 1809. This is not considered a separate coin type. However, when the size of the coin and the denomination portion of the legend were changed in 1836, this created a new type within the Capped Bust design.

Major Variety: A coin that is easily recognized as having a major difference from other coins of the same design, type, date and mint. An important criteria for a major variety is that it must be visible to the naked eye. Examples of major varieties include:

1. Overdates. This is the most common type of major variety. Overdates are coins in which at least one digit of the date has been changed. Overdates are generally either an economy measure, i.e. to reuse old dies, or a measure to correct blundered dies. The overdates recognized as major varieties are those that are clearly visible to the naked eye, at least in the early die state. Overdates are very common in Eighteenth and Nineteenth Century U.S. coins. Twentieth Century overdates are more unusual. Examples of easily recognizable overdates include the 1942/1 Mercury dime, 1918/7-D Buffalo nickel, and 1918/7-S Standing Liberty Quarter. Note that when die deterioration and visual evidence of the overdate disappears, PCGS no longer designates the overdate, even if the other die characteristics which are unique to the overdate variety are apparent. Example: 1858/7 Flying Eagle Cents that have no trace of the overdate but have the broken upper wing.

2. Significantly Different Date Sizes. This is a size difference in the date of the coin that's easily recognizable without the aid of magnification. Examples are the 1960 small and large date Lincoln cents and 1857 small and large date Large Cents.

3. Major Variations in the Date. This is a variation in the date that's easily noticed with the naked eye. These variations can be in position, slant or style of the numbers. Examples include the 1814 crosslet and plain 4 Large Cents and the 1856 upright and slanted 5 gold dollars.

4. Overmintmark. Coin which has the mintmark overpunched over a different mintmark. Overmintmarks are generally an economy measure to reuse old dies. Well known overmintmarks include the 1900-O, O over CC Morgan dollar and the 1938-D, D over S Buffalo nickel. To be a major variety, the overmintmark must be clearly discernible to the naked eye.

5. Dramatic Differences in Mint Mark Size. Mint marks usually vary in size to a minor degree. When two mint marks during the same year vary in size to such a degree that there's an easily noticed, major size difference, those coins are recognized by the numismatic communtiy as a major variety. Examples include the 1945 Micro S Mercury dime and the 1854 Huge 0 Liberty Seated Quarter.

6. Significant Differences in Mint Mark Placement. Mint marks are generally found in the same place on a particular coin in a specific year. The mint mark may be a little high or low or be placed a little to the left or right, but they are generally in the same location on the coin. When mint marks for a particular coin in a specific year can be found in more than one location, then you have a major variety. An example of this variety is the 1917 S on obverse and S on reverse Walking Liberty Half Dollar.

7. Omitted Mint Marks. All coinage dies are prepared at the Philadelphia Mint. For dies that are to be used at the Branch Mints, the appropriate mint mark is added at the Philadelphia Mint. The dies are then shipped to the Branch Mints for use in the actual coinage process. Rarely, dies are mistakenly shipped to the Branch Mint without the appropriate mint mark. This usually only happens for an extremely limited number of coins before the error is caught. Consequently, most omitted mint mark varieties are quite rare. Examples include 1971 no S proof Jefferson nickel and the 1982 no P Roosevelt dime. Sometimes an omitted mint mark is an indication of a trial piece, presentation piece, or pattern, e.g. 1915 Pan Pac gold dollars and 1976 "No S" Bicentennial proofs.

8. Major Variations in the Legend or Stars. These variations can be seen in size or content. Examples include the 1817 13 stars and 15 stars Large Cents and the 1840 small and medium letters Half Dollars.

9. Blundered Die. A coin die with an engraving error. Blundered dies are common in early U.S. coins. The errors are often corrected but still visible. Examples of uncorrected blundered dies are the 1801 Large Cent with the fraction reading "1/000" and th 1800 Half Dime with the legend spelled "LIBEKTY". Examples of corrected blundered dies are the 1801 Large Cent with the fraction "1/100" re-cut over "1/000" and the 1836 Bust Half dollar with the denomination "50" re-cut over "00".

10. Major Edge Difference. Coin which has a major edge design difference from other coins of the same date and denomination. Examples of a major edge difference varieties include the 1795 half cents with plain and lettered edge, 1793 Wreath Cents with vine/bars and lettered edges, and 1809 half dollars with "XXXX" or "IIII" on the edge.

11. Different Obverse/Reverse Design Combinations. There have been instances where different reverses have been used with the same obverses. These are not the instances where the reverse is totally changed, thereby creating an entirely new type, such as the 1796 to 1797 Draped Bust small eagle dime and the 1798 to 1807 Draped Bust, large eagle dime. This is an instance in which the reverse design stays the same but there are major visible notices in two reverse varieties. Examples include the 1802 reverse of 1800 and 1802 reverse of 1802 Draped Bust half cents and the 1880-CC reverse of 1878 Morgan dollars.

12. Major Portrait Modifications. When the major devices of a coin are modified within the same year in a way that's easily noticeable but not in such a way that creates an entirely new type, the result is a major variety. Examples are the 1839 Booby head and Silly head Large Cents and 1843 small and large head Large Cents.

13. Major Die Doubling. United States coins are occasionally struck from dies that were created with misaligned impressions from the working hub. The results are doubling of the date, legends and/or devices. Slight doubling is not all that uncommon. When the doubling is extreme and easily noticeable with the naked eye, it's a major variety. Examples are the 1955 double die Lincoln Cent and 1916 double die Buffalo nickel.

14. Spectacular Die Breaks. Coin dies wear out. Often the mint keeps striking coins even if the die had cracks that effected the design of the coin. When the die break is spectacular the numismatic community usually recognizes a major variety and often gives the variety a highly descriptive name. Examples include the 1807 "Comet" Large Cent and the 1804 "spiked chin" Half Cent.

Minor Variety: A coin that has a minor difference from other coins of the same design, type, date and mint. This minor difference is barely descernable to the naked eye. The difference between a major variety and a minor variety is one of degree.

Die Variety: Each die exhibits minute differences. A die variety is the coin variety created by a specific obverse and reverse die. When the obverse and/or reverse dies are changed a new variety is created. Some coin enthusiasts collect coins by die varieties, attempting to acquire an example of every die used to mint their favorite date and/or type of coin.

Die State: A specific stage in the life of a die. New dies generally create coins with great detail and sometimes with reflective prooflike surfaces. Worn dies create coins that often lack detail. Sometimes worn dies crack and create varieties such as the 1807 "comet" and the 1855 "knob on ear" Large Cents. On such varieties, different die states will create different degrees of prominence of the variety.

NUMBERS

Date: The date that appears on the coin. In most cases the date on the coin is the year in which the coin was minted. However, there are numerous examples of cases in which coins were struck in years other than indicated by the date of the coin.

Mintmark: Initial or initials added to the coin to indicate at which mint the coin was struck. The following Mint marks are found on United States Regular issue coins:

MintMark - Mint

• C Charlotte, North Carolina
• CC Carson City, Nevada
• D Dahlonega, Georgia
• D Denver, Colorado
• O New Orleans, Louisiana
• P Philadelphia, Pennsylvania
• S San Francisco, California
• W West Point

Mintage: The number of coins originally struck at a particular mint with a particular date on the coin. Note that the date appearing on a coin does not necessarily mean that the coin was struck during that year.

Rarity: The rarity of a coin is determined by how many examples of the coin survive today.

PCGS Rarity Scale: The Professional Coin Grading Service has developed a rarity scale to help determine the surviving population of every United States coin. The rarity scale is based on estimates, as in most instances exact survival numbers are not known. The rarity scale is listed below:

Survival Rate: The number of surviving specimens of a coin expressed as a percentage of the original mintage. The number of surviving specimens is usually just an estimate. The estimates are based on the experience of PCGS and the contributing experts.

Population: The current PCGS population or "pop" of a coin is the number of specific coins that have been graded by PCGS in a specific grade .

Condition Census: A listing of the five finest known examples of a coin or type of coin.

PCGS Condition: The list of the five finest known examples of every United States coin, including

Census: Varieties recognized by the Professional Coin Grading Service. Note that the PCGS Condition Census is not limited to coins graded by PCGS but includes every coin known to the PCGS Census Committee. Also note that the PCGS Condition Census only represents the collective opinion of the PCGS Census Committee. Other numismatists may have differing opinions as to which coins are the finest.

PCGS Census Committee: The PCGS Census Committee consists of PCGS owners Bruce Amspacher, John Dannreuther, David Hall and Gordon Wrubel, and PCGS grader Ron Howard.

PCGS Numismatic Advisory Board: The numismatic experts who contributed their time and knowledge to "The Language of Numismatics," the PCGS Condition Census, and "The PCGS Encyclopedia of United States Coins." The current Numismatic Advisory Board Members are:

Pedigree: A list of the current owner of a coin plus all known previous owners.

OB: Literally "or better". An example of the "OB" use would be a rarity listing for "65OB" which would mean "rarity in 65 or better condition."