UNDERSTANDING
"NO GRADE"



A guide to the states of condition that can cause a coin to be rejected for NGC certification.
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Glossary

Below is a list of terms that are associated with the rare coins. It is often useful to know some of these words to know exactly how to make an informed decision when purchasing rare coins. Remember if you have any questions feel free to CONTACT US.


Alloy - a mixture of two or more metals
ANA - American Numismatic Association, the national organization for coin collectors
Assay - the testing of an ore sample to determine its precious metal value
Attribution - the designation of a coin's variety according to standard reference books
Authentication - the determination of a coin's genuineness
Base metal - a non-precious metal, such as copper, nickel or zinc
Blank - an unstruck coin disc, the same as "planchet"
Bourse - a popular term for the sales floor of a coin show
Brass - an alloy of copper and zinc
Bronze - an alloy of copper and tin
Bullion - refined precious metal in non-coin form
Certification - the process of having a coin authenticated, graded and encapsulated
Clad - a laminated or sandwiched coin metal
Collar - a retaining ring which imparts a coin's edge, whether plain or reeded
Commemorative - a coin honoring an event, place or individual, usually of limited mintage
Condition census - a roster of the five or six finest known specimens of a particular coin
Contact marks - small nicks imparted by contact with other coins
Counterfeit - a non-genuine coin, whether made to circulate as money or to deceive collectors
Coronet - a crown or tiara frequently seen on the Liberty portrait of 19th Century U. S. coins
Currency - circulating money, used numismatically to denote a non-proof coin
Denomination - the face value of a coin, such as one cent, ten cents, etc.
Denticles - the toothlike projections seen on the borders of older U. S. coins
Device - a raised design element on a coin, such as a portrait or lettering
Die - a cylindrical shaft of steel that imparts one side of a coin's design (two are required)
Double eagle - a United States $20 gold coin, issued from 1850 to 1933
Eagle - a U. S. $10 gold coin, issued from 1795 to 1933
Edge - the third side of a coin, it can be plain, reeded, lettered or starred
Encapsulated coin - one which has been sealed inside a plastic holder
Field - the flat surface area of a coin between the various devices
Fineness - the percentage or decimal proportion of precious metal in a coin
Flip - a flexible, transparent, plastic envelope having one pocket for a coin and one for its label
Frosted - describes a coin's surface which is textured rather than smooth or glossy
Grade - the numerical value assigned to a coin's condition on a scale of 1 to 70
Hairlines - fine scratches on a coin's surface which may affect its grade
Half cent - a U. S. copper coin of that value, issued from 1793 to 1857
Half dime - a U. S. silver five-cent coin, issued from 1794 to 1873
Half eagle - a U. S. $5 gold coin, issued from 1795 to 1929
Hub - a steel cylinder bearing one side of a coin's design and used to produce dies
Intrinsic value - the value of a coin's metal, irrespective of its face or collector value
Legal tender - a coin declared by a government to be acceptable in the payment of all debts
Legend - an inscription which appears on a coin, such as LIBERTY
Lettered edge - the edge of a coin on which either raised or sunken letters appear
Luster - the reflected light from a coin as determined by its surface texture and quality
Matte - the purposely dulled surface of a coin, this style was used on certain U. S. proof coins
Minor coin - a base-metal coin of small value, such as a cent or nickel
Mint - the structure where coins are produced, or, the governmental body overseeing its work
Mintmark - a small letter appearing on a coin to denote its city of manufacture
Mint State - describes an unworn coin and means the same as Uncirculated
Mirror - the brilliant surface of a coin, typically the fields of a proof or prooflike coin
MS - the abbreviation for Mint State, it's used with a numerical figure to grade unworn coins
Numismatics - the studying and collecting of coins
Numismatist - one who engages in numismatic activity for whatever end
Obverse - the front side of a coin ("heads")
Overdate - a coin variety in which one date is impressed over another
Pattern - an experimental coin made as a test of a new design, material or technology
PF - the abbreviation for Proof, it's used with a numerical figure to grade proof coins
Plain edge - the edge of a coin which is smooth and lacking any decoration
Planchet - a blank disc that will be stamped between dies to produce a coin
Press - a compression machine in which dies come together to stamp a coin
Proof - a high-quality coin for collectors made in small numbers from specially prepared dies
Prooflike - having the appearance of a proof co in, that is, mirrorlike fields
Quarter eagle - a U. S. $2.50 gold coin, issued from 1796 to 1929
R1, R2, R3, etc. - a scale of coin rarity ranging from R1 (very common) to R8 (unique)
Red Book - the popular name for A Guide Book of United States Coins, by R. S. Yeoman
Reeded edge - the edge of a coin on which raised lines appear
Relief - the portion of a coin's design which is raised above the smooth surface or field
Restrike - a coin made years after the original edition but from the same dies
Reverse - the back side of a coin ("tails")
Series - a continuous run of coins of the same type, such as the Buffalo Nickel series of 1913-38
Slab - a slang term for an encapsulated coin
Specie - coined money, as opposed to paper money or other store of wealth
Starred edge - the edge of a coin featuring either raised or sunken stars
Strike - the action of producing a coin, or, the quality of a coin's detail sharpness
Trade dollar - a special type of silver dollar made from 1873 to 1885, primarily for export
Trime - a U. S. silver three-cent piece, issued from 1851 to 1873
Type collecting - assembling a collection of one of each coin denomination and design
Uncirculated - describes an unworn coin and means the same as Mint State
Wire rim - a fine, raised line of metal around the rim of very sharply struck coins

 
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