Numismatic Lexicon: L – R
Lamination
A thin piece of metal that has nearly become detached from the surface of a coin. If this breaks off, an irregular hole or planchet flaw is left.
Large cent
A large copper U.S. coin, one-hundredth of a dollar, issued from 1793 until 1857, when it was replaced by a much smaller cent made from a copper-nickel alloy. The value of copper in a large cent had risen to more than one cent, requiring the reduction in weight.
Large date
Term referring to the size of the digits of the date on a coin. (Use of this term implies that a medium or small date exists for that coin or series.)
Large Eagle
Alternate form of Heraldic Eagle.
Large letters
Term referring to the size of the lettering of the date on a coin. (Use of this term implies that medium or small letters exist for that coin or series.)
Large Motto
– Common short name for the particular variety of two-cent coin of 1864 with large letters in the motto. The inscription “IN GOD WE TRUST” was first used on the two-cent coinage of 1864. Congress mandated this inscription for all coinage and it has been used on nearly every coin since that time.
Large size
A term referring to the particular diameter of a coin in a series. (Use of this term implies that there is a small size or diameter with the same motif. Examples are the Large and Small size Capped Bust quarters.)
LD
Short for large date.
Legal Tender
Coins and currency issued by the government as official money that can be used to pay legal debts and obligations.
Legend
A phrase that appears on a coin – for instance, UNITED STATES OF AMERICA.
Lettered edge
A coin edge that displays an inscription or other design elements, rather than being reeded or plain. The lettering can be either incuse (recessed below the surface) or raised. Incuse lettering is applied before a coin is struck; the Mint did this with a device called the Castaing machine. Raised lettering is found on coins struck with segmented collars; the lettering is raised during the minting process, and when the coin is ejected from the dies, the collar "falls" apart, preventing the lettering from being sheared away.
Lettering
The alphabet characters used in creating legends, mottoes, and other inscriptions on a coin, whether on the obverse, reverse, or edge.
Lib
Slang for Liberty Head. (i.e. a twenty Lib, a Ten Lib, etc.)
Liberty
The symbolic figure used in many U.S. coin designs.
Liberty Cap
The head of Miss Liberty, with a cap on a pole by her head, used on certain U.S. half cents and large cents.
Liberty Head
The design used on most U.S. gold coins from 1838 until 1908. This design was first employed by Christian Gobrecht, with later modifications by Robert Ball Hughes and James Longacre. Morgan dollars and Barber coinage sometimes are referred to as Liberty Head coins.
Liberty nickel
Short for Liberty Head or “V” nickel struck from 1883 until 1912. (The coins dated 1913 were clandestinely struck and are not regular issues.)
Liberty Seated
The motif designed by Christian Gobrecht first used on the Gobrecht dollars of 1836-1839 featuring Miss Liberty seated on a rock. This design was used on nearly all regular issue silver coinage from 1837 until 1891. (1838-1891 for quarters, 1839-1891 for half dollars, and 1840-1873 for dollars.)
Light line
The band of light seen on photographs of coins, especially Proofs. This band also is seen when a coin is examined under a light.
Lincoln
Slang for a Lincoln Head cent.
Lincoln cent
The Victor D. Brenner designed cent first struck in 1909 and continuing until today although the reverse was changed in 1959 to the Memorial Reverse. These were struck in bronze until 1982, except for 1943 when they were issued in steel with a zinc coating and 1945-1945 when melted shell casings were employed to produce planchets. Currently, the Lincoln cent is struck on planchets composed of a zinc core and a 5% copper coating.
Lincoln penny
Slang for Lincoln Head cent.
Liner
A coin that is on the cusp between two different grades. A 4/5 liner is a coin that is either a high-end MS/PR-64 or a minimum-standard MS/PR-65.
Lint mark
A repeating depression on a coin, usually thin and curly, caused by a thread that adhered to a die during the coin's production. Lint marks are found primarily on Proofs. After dies are polished, they are wiped with a cloth, and these sometimes leave tiny threads.
LL
Short for large letters.
Long Beach
Short for the Long Beach Coin and Stamp Exhibition held in Long Beach, California. This show is held three times a year, usually in February, June, and October. These are among the most popular commercial exhibitions each year.
Lot
The unique number assigned by the auction house to an item(s) to be sold in a particular sale. (i.e. The 1858 Seated dollar was lot 455 of the FUN 1999 sale.)
Loupe
A magnifying glass used to examine coins. Loupes are found in varying strengths or "powers".
Luster
In numismatics, the amount and strength of light reflected from a coin’s surface or its original mint bloom. Luster is the result of light reflecting on the flow lines, whether visible or not.
Lustre
Alternate form of luster.
Lustrous
A term used to describe coins that still have original mint bloom.
Mail bid sale
An auction sale where bidding is limited to bids by mail. (Today, that also may include by phone, fax, or email.)
Major variety
A coin that is easily recognized as having a major difference from other coins of the same design, type, date, and mint.
Market grading
A numerical grade that matches the grade at which a particular coin generally is traded in the marketplace. The grading standard used by PCGS.
Marks
Imperfections acquired after striking. These range from tiny to large hits and may be caused by other coins or foreign objects.
Master die
The main die produced from the master hub. Many working hubs are prepared from this single die.
Master hub
The original hub created by the portrait lathe. Master dies are created from this hub.
Matte Proof
An experimental Proof striking, produced by the U.S. Mint mainly from 1907 to 1916, which has sandblasted or acid-pickled surfaces. These textured surfaces represented a radical departure from brilliant Proofs, having even less reflectivity than business strikes.
MD
Short for medium date.
Medal press
A high-pressure coining press acquired by the U.S. Mint, circa 1854-1858, to strike medals, patterns, restrikes, and some regular-issue Proofs.
Medium date
Term referring to the size of the digits of the date on a coin. (Use of this term implies that a large or small date exists for that coin or series.)
Medium letters
Term referring to the size of the lettering of the date on a coin. (Use of this term implies that large or small letters exist for that coin or series.)
Melt
Slang term for the intrinsic value of a particular numismatic item. (What’s the melt value of that ten Lib?)
Mercury dime
Common name for the Winged Liberty Head dime issued from 1916 until 1945. The A.A. Weinman motif was quickly compared to the Roman god Mercury and the name stuck with the public.
Metal stress lines
Radial lines, sometimes visible, that result when the metal flows outward from the center of the planchet during the minting process.
Milling mark
A mark that results when the reeded edge of one coin hits the surface of another coin. Such contact may produce just one mark or a group of staccato-like marks.
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 discernible to the unaided eye. The difference between a major variety and a minor variety is a matter of degree.
Mint
A coining facility.
Mint bloom
Original luster that is still visible on a coin.
Mint mark
Variation of mintmark
Mint set
A set of Uncirculated coins from a particular year comprising coins from each Mint. (Usually, this term refers to government issued Mint Sets, although for many years, it has been loosely used for any set of Uncirculated coins from a particular year. Also, the government Mint Sets issued from 1947 until 1958 were double sets.)
Mint set toning
This term refers to the colors and patterns coins have acquired from years of storage in the cardboard holders in which Mint Sets were issued from 1947-1958. Since 1959, Mint Sets have been issued in plastic sleeves, thus they do not tone as spectacularly.
Mint State
The term corresponding to the numerical grades MS-60 through MS-70, used to denote a business strike coin that never has been in circulation. A Mint State coin can range from one that is covered with marks (MS-60) to a flawless example (MS-70).
Mintage
The number of coins of a particular date struck at a given mint during a particular year. (This may not equal the “official” mintage for that calendar year, especially for pre-1840 coinage. The Mint reported coins struck in the calendar year, regardless of the date(s) on the issue. For instance, the 1804-dated dollar was included in Proof Sets struck in 1834 because the “official” mintage figures for 1804 included silver dollars although it is now known that these were dated 1803 or possibly even earlier.)
Mintmark
The tiny letter(s) stamped into the dies to denote the mint at which a particular coin was struck.
Mis-struck
Term applied to the error coins that have striking irregularities.
Mishandled Proof
A Proof coin that has been circulated, cleaned, or otherwise reduced to a level of preservation below PR-60.
Miss Liberty
Term applied to the various incarnations of the emblematic Liberty represented on United States coinage.
Missing Edge Lettering
Is a coin which does not display any of the intended design on the edge of the coin.
ML
Short for medium letters.
Monster
Slang for an incredible coin, usually one that grades MS/PR-67 or higher. A secondary use is as an adjective, such as monster luster or monster color.
Moose
Slang for an incredible coin, usually one that grades MS/PR-67 or higher.
Morgan
Short for “Morgan dollar.”
Morgan dollar
The common term used for the Liberty Head silver dollar struck from 1878 until 1904 and again in 1921. George Morgan was the assistant engraver but his design was selected over William Barber’s for the dollar. Morgan was passed over for the Chief Engraver’s job when William Barber died in 1879. Charles Barber, William’s son, received the job and Morgan remained an assistant until Charles died in 1918. Morgan was then elevated to position of Chief Engraver, which he held until his death in January, 1925.
Mottled toning
Uneven toning, usually characterized by splotchy areas of drab colors.
Motto
An inscription or phrase on a coin.
MS-60
This is for "Mint State" (the grade) and "60" (the numerical designation of that grade). This is the lowest of the eleven Mint State grades that range from MS60 through MS70. An MS60 coin will usually exhibit the maximum number of marks and/or hairlines. The luster may range from poor to full, but is usually on the "poor" side. Eye appeal is usually minimal.
MS-61
This is for "Mint State" (the grade) and "61" (the numerical designation of that grade). This grade meets the minimum requirements of Mint State plus includes some virtues not found on MS60 coins. For instance, there may be slightly fewer marks than on an MS60 coin, or better luster, or less negative eye appeal.
MS-62
This is for "Mint State" (the grade) and "62" (the numerical designation of that grade). This grade is nearly in the "choice" or MS63 category, but there is usually one thing that keeps it from a higher grader. Expect to find excessive marks or an extremely poor strike or dark and unattractive toning. Some MS62 coins will have clean surfaces and reasonably good eye appeal but exhibit many hairlines on the fields and devices.
MS-63
This is for "Mint State" (the grade) and "63" (the numerical designation of that grade). The equivalent of "choice" or "Choice BU" from the days before numerical grading was prevalent. This grade is usually found with clean fields and distracting marks or hairlines on the devices OR clean devices with distracting marks or hairlines in the fields. The strike and luster can range from mediocre to excellent.
MS-64
This is for "Mint State" (the grade) and "64" (the numerical designation of that grade). This grade is also called "Borderline Gem" at times, as well as "Very Choice BU." There will be no more than a couple of significant marks or, possibly, a number of light abrasions. The overall visual impact of the coin will be positive. The strike will range from average to full and the luster breaks will be minimal.
MS-65
This is for "Mint State" (the grade) and "65" (the numerical designation of that grade). This grade is also called "Gem" or "Gem Mint State" or "Gem BU." There may be scattered marks, hairlines or other defects, but they will be minor. Any spots on copper coins will also be minor. The coin must be well struck with positive (average or better) eye appeal. This is a NICE coin!
MS-66
This is for "Mint State" (the grade) and "66" (the numerical designation of that grade). This is not only a Gem-quality coin, but the eye appeal ranges from "above average" to "superb." The luster is usually far above average, and any toning can not impede the luster in any significant way. This is an extra-nice coin.
MS-67
This is for "Mint State" (the grade) and "67" (the numerical designation of that grade). A superb-quality coin! Any abrasions are extremely light and do not detract from the coin’s beauty in any way. The strike is extremely sharp (or full) and the luster is outstanding. This is a spectacular coin!
MS-68
This is for "Mint State" (the grade) and "68" (the numerical designation of that grade). A nearly perfect coin, with only minuscule imperfections visible to the naked eye. The strike will be exceptionally sharp and the luster will glow. This is an incredible coin.
MS-69
This is for "Mint State" (the grade) and "69" (the numerical designation of that grade). Virtually perfect in all departments, including wondrous surfaces, a 99% full strike (or better), full unbroken booming luster and show-stopping eye appeal. You may have to study this coin with a 5X glass to find the reason why it didn’t grade MS70.
MS-70
This is for "Mint State" (the grade) and "70" (the numerical designation of that grade). A perfect coin! Even with 5X magnification there are no marks, hairlines or luster breaks in evidence. The luster is vibrant, the strike is razor-sharp, and the eye appeal is the ultimate. Note: Minor die polish and light die breaks are not considered to be defects on circulation strike coins.
Mule Error
This is a rare Mint error where the obverse die is of one coin and the reverse die is of another coin. The most famous of the Mule errors is a Sacagawea dollar/Washington quarter Mule, where a Washington quarter obverse is paired with a Sacagawea reverse.
Multiple-struck
New
A term for a coin that never has been in circulation.
New Orleans
The branch Mint established in 1838 in New Orleans, Louisiana. It struck coins for the United States until its seizure in 1861 by the Confederacy. (Some 1861-O half dollars were struck after the seizure.) It reopened in 1879 and struck coins until 1909 (actually closed in 1910). Now this facility is a museum.
New Orleans Mint
The New Orleans opened its doors in 1838 and minted gold and silver coins until 1861, when the Confederates took over operations for a short time. Minting resumed in 1879 minting and continued until 1909. The New Orleans facility served as an assay office from 1909-1942 when it was permanently closed. This mint uses the “O” mintmark.
NGC
Short for Numismatic Guaranty Corporation.
Nickel
Popular term for a five-cent piece struck in cupro-nickel alloy (actually 75% copper, 25% nickel).
No “CENTS” nickel
Those Liberty Head or “V” nickels struck in 1883 without a denomination. This was very confusing to the public and led to the “racketeer” nickel scandal.
No Arrows
Term applied to coins without arrows by their dates during years when other coins had arrows by the date. (Example: the 1853 No Arrows half dime and 1853 Arrows half dime.)
No Motto
Coins struck without the motto, “IN GOD WE TRUST.” This motto was mandated by an act of Congress and appeared on nearly every United States coin since the 1860s. (Teddy Roosevelt felt this was sacrilegious and had it removed from the newly redesigned 1907 eagles and double eagles. Citizen protests soon were overwhelming and it was restored in 1908.) This also refers to coins struck before the motto was added in the 1860s.
No Stars
Term applying to the Christian Gobrecht designed Liberty Seated coins without stars.
No-grade
Term applied to a coin returned from a third-party grading service that was not encapsulated because of varying reasons. (This could be for cleaning, damage, questionable authenticity, etc.)
Numerical grading
Specifically, the Sheldon 1-70 scale employed by PCGS and others.
Numismatic Guaranty Corporation
Third-party grading service based in Parsipany, New Jersey.
Numismatic News
Weekly numismatic periodical established in 1952.
Numismatics
The science of money; coins, paper money, tokens, inscribed bars, and all related items are included.
Numismatist
One who studies or collects money or substitutes thereof.
O
Mintmark used to signify coins struck at the New Orleans, Louisiana branch Mint.
O-Mint
Term used for the coinage of the branch Mint in New Orleans, Louisiana.
Obverse
The front, or heads side, of a coin. Usually the date side.
Oct
Short for octagonal (Pan-Pac octagonal commemorative fifty-dollar coin).
Off center
A coin struck on a blank that was not properly centered over the anvil, or lower, die. Coins that are 5 percent, or less, off center are graded by PCGS as a regular coin. Those struck off center more than 5 percent are graded as error coins. There will be an “E” before the coin number to designate an error specimen and the amount struck off center will be listed, rounded to the nearest 5 percent.
Open collar
Its name notwithstanding, a closed collar that surrounded the anvil (or lower) die used in striking early U.S. coins on planchets whose edges already had been lettered or reeded. An open collar was a restraining, or positioning, collar that made it easier to position a planchet atop the lower die, and also sometimes kept the planchet from expanding too far.
Orange-peel surfaces
The dimple-textured fields seen on many Proof gold coins; their surfaces resemble those of an orange, hence the descriptive term. Some Mint State gold dollars and three-dollar gold coins exhibit this effect to some degree.
Original
A term used to describe a coin that never has been dipped or cleaned, or a coin struck from original dies in the year whose date it bears.
Original roll
Coins in fixed quantities wrapped in paper and stored at the time of their issuance. The quantities vary by denomination, but typically include 50 one-cent pieces, 40 nickels, 50 dimes, 40 quarters, 20 half dollars and 20 silver dollars. U.S. coins were first shipped to banks in kegs, later in cloth bags, and still later in rolls. Silver and gold coins stored in such rolls often have peripheral toning and untoned centers. Obviously, coins stored in rolls suffered fewer marks than those in kegs or bags.
Original rolls
Rolls of coins that have been together since the day they were removed from their storage bags. Also, rolls of Mint State coins that have never been searched or "picked over."
Original toning
Term for the color acquired naturally by a coin that never has never been cleaned or dipped. Original toning ranges from the palest yellow to extremely dark blues, grays, browns, and finally black.
Over -mintmark
A coin struck with a die on which one mintmark is engraved over a different mintmark. In rare instances, branch mints returned dies that already had mintmarks punched into them; on occasion, these were then sent to different branch mints and the new mint punched its mintmark over the old one. Examples include the 1938-D/S Buffalo nickel and the 1900-O/CC Morgan dollar.
Over dipped
A coin that has become dull from too many baths in a dipping solution.
Overdate
A coin struck from a die with a date that has one year punched over a different year. Save a few exceptions, the die overdated is an unused die from a previous year. Sometimes an effort was made to polish away evidence of the previous date. PCGS requires the overdate to be visible to be recognized.
P
Mintmark used by the main mint located in Philadelphia, Pennsylvania.
P-Mint
Term applied to the coins struck at the main Mint in Philadelphia, Pennsylvania.
Pan-Pac
Short for Panama-Pacific Exhibition.
Pan-Pac slug
Slang for either of the 1915-dated Panama-Pacific fifty-dollar commemorative coins, the octagonal or the round.
Panama-Pacific Exhibition
A 1915 exhibition held in San Francisco, California to celebrate the completion of the Panama Canal.
Paper money
Term used among collectors for notes of the entire field of currency, no matter what medium on which they may be printed.
Partial Edge Lettering
Have at least one complete letter or star missing. Note: This variety will not be recognized if part of the edge design was caused by damage.
Patina
Synonym for toning.
Pattern
A test striking of a coin produced to demonstrate a proposed design, size, or composition (whether adopted or not). Patterns often are made in metals other than the one proposed; examples of this include aluminum and copper patterns of the silver Trade dollar. Off-metal strikes such as this also are referred to as die trials of a pattern.
PCGS
Short for “Professional Coin Grading Service”.
PCGS Population Report
Quarterly publication by PCGS listing the number of coins graded and their grade. Totals are for coins graded by PCGS since its inception in 1986. Also published weekly on the PCGS website at www.pcgs.com/popreport.
Peace dollar
Common name for the silver dollar struck from 1921 to 1935. Designed by Anthony Francisci to commemorate the peace following World War I, the first year featured another coin designated High Relief. In 1922, the relief was lowered resulting in the Regular Relief type that continued until 1935.
Pedigree
A listing of a coin’s current owner plus all known previous owners.
Penny
In American numismatics, slang for a one-cent coin.
Peripheral toning
Light, medium, or dark coloring around the edge of a coin.
Philadelphia Mint
The “mother” Mint, located in Philadelphia, Pennsylvania. First established in 1792, the Philadelphia Mint has occupied four different locations. Currently, it is located in Independence Square, within sight of the Liberty Bell and Independence Hall. The Philadelphia mint engraves all U.S. coins and medals, manufactures coin and medal dies, manufactures coins of all denominations for general circulation, manufactures commemorative coins, and produces medals. This mint currently uses the “P” mintmark but coins produced prior to 1980 have no mintmark.
Pick off
Slang for a coin bought at a bargain price.
Picked off
Term to describe the dealer who sells a pick off.
Piedfort
A term that means "double thick," it usually refers to French coins that were made in a double thickness to signify double value. Sometimes spelled Piefort.
Pioneer gold
Those privately-issued gold coins struck prior to 1861. These include coins struck in Georgia and North Carolina although no “pioneers” were responsible for the gold mined in those states. Generally associated with the private issues from California and the other post-1848 finds in Nevada, Oregon, and Colorado.
PL
Short for prooflike.
Plain edge
A flat, smooth edge seen mainly on a small-denomination coinage.
Planchet
The blank disk of metal before it is struck by a coining press which transforms it into a coin. Type I planchets are flat. Type II planchets have upset rims from the milling machine, these to facilitate easier striking in close collars.
Planchet defects
Any of the various abnormalities found on coin blanks. These include drift marks, laminations, clips, and so forth.
Planchet flaw
An irregular hole in a coin blank, sometimes the result of a lamination that has broken away.
Planchet striations
Fine, incuse lines found on some Proof coins, though rarely on business strikes, usually the result of polishing blanks to impart mirrorlike surfaces prior to striking.
Plated
A term used to describe a coin to which a thin layer of metal has been applied-for example, gold-plated copper strikings of certain U.S. pattern coins.
Platinum
Precious metal sometimes used for coinage. The only United States issues struck in platinum are the pattern half dollars of 1814 and the modern platinum Eagles.
Plugged
A term used to describe a coin that has had a hole filled, often so expertly that it can only be discerned only under magnification.
PNG
Short for Professional Numismatists Guild. PNG's web site can be viewed at: www.PNGdealers.com
PNG certificate
Before third-party certification was started by PCGS in 1986, these certificates were the best available protection for the coin buyer. Each PNG dealer could issue a certificate, one copy given to the buyer and one copy sent to the PNG main office. This provided not only a guarantee of authenticity, but also provided a space for a description that could be useful in cases of stolen collections.
PO-1
This is for "Poor" (the grade) and "1" (the numerical designation that means Poor). A coin of this grade is basically uncollectible due to its terrible condition, but coins of great rarity (such as an 1802 half dime) are still of considerable value and in demand in this grade. In order to "reach" this grade a coin must be identifiable as to date and type and not be horribly damaged (such as holes).
Polished die
A die that has been basined to remove clash marks or other die injury. In a positive sense, Proof dies were basined to impart mirrorlike surfaces, resulting in coins with reflective field.
Polyvinyl chloride
A chemical used in coin flips to make them pliable.
Poor
The grade PO-1. A coin with readable date and mint mark (if present), but little more, barely identifiable as to type. (One-year type coins do not require a readable date to qualify for this grade.)
Pop Report
Short for “PCGS Population Report.”
Pop Top
A coin that is on top of the Population Report and scores the maximum number of points on the PCGS Set Registry.
Porous
A description indicating a rough or granular surface, typically seen on pre-1816 copper coins.
PQ
Short for premium quality.
PR
Short for Proof.
Premium quality
A term applied to coins that are the best examples within a particular grade.
Presentation striking
A coin, often a Proof or an exceptionally sharp business strike, specially struck and given to a dignitary or other person.
Press
Any of the various coining machines. Examples include the screw press and the steam-powered knuckle-action press.
Price
The asking quotation for a particular numismatic item. “What’s the price?” is a common phrase on the bourse floor.
Price guide
A periodical, whether electronic or paper, listing approximate prices for numismatic items, whether wholesale or retail.
Price list
Professional Coin Grading Service
Established in 1985, this was the first third-party grading service to grade, encapsulate, and guarantee the authenticity for numismatic material. Based in Newport Beach, California.
Professional Numismatists Guild
A dealer organization begun in 1955. The membership is restricted by financial and longevity requirements.
Proof
A coin usually struck from a specially prepared coin die on a specially prepared planchet. Proofs are usually given more than one blow from the dies and are usually struck with presses operating at slower speeds and higher striking pressure. Because of this extra care, Proofs usually exhibit much sharper detail than regular, or business, strikes. PCGS recognizes Proofs (PR) as those struck in 1817 and later. Those coins struck prior to 1817 are recognized as Specimen strikes (SP).
Proof set
A coin set containing Proof issues from particular year. A few sets contain anomalies such as the 1804 dollar and eagle in 1834 presentation Proof sets.
Proof dies
Specially prepared dies, often sandblasted or acid-picked, that are used to strike Proof coins. Often, the fields are highly polished to a mirrorlike finish, while the recessed areas are left “rough”; on coins struck with such dies, the devices are frosted and contrast with highly reflective fields. Matte, Roman, and Satin Proof dies are not polished to a mirror-like finish.
Proof-only issue
A coin struck only in Proof, with no business-strike counterpart.
Prooflike
Term to designate a coin that has mirror-like surfaces, the term especially applicable to Morgan dollars. Those Morgan dollars that meet PCGS prooflike standards are designated PL.
Provenance
Term synonymous with pedigree.
Punch
A steel rod with a device, lettering, date, star, or some other symbol on the end which was sunk into a working die by hammering on the opposite end of the rod.
Put-together roll
Term applied to a roll of coins that is not original, usually the best condition coins have been removed and replaced with lesser quality coins. (It is not unusual to find slightly circulated coins in such rolls.)
PVC
Short for polyvinyl chloride.
PVC damage
A film, usually green, left on a coin after storage in flips that contain PVC. During the early stage, this film may be clear and sticky.
PVC flip
Any of the various soft coin flips that contain PVC.
Quarter
Short for a coin of the quarter dollar denomination.
Quarter Eagle
Correct terminology for a two-and-one-half dollar gold coin. This denomination, two and one half dollars or one fourth of an eagle, was first struck in 1796, struck sporadically thereafter, and discontinued in 1929.
Questionable toning
Term to describe the color on a coin that may not be original. After a coin is dipped or cleaned, any subsequent toning, whether acquired naturally or induced artificially, will look different than original toning. PCGS will not grade coins with questionable color.
Racketeer nickel
A gold-plated 1883 No “CENTS” Liberty Head five-cent coin (“V” nickel). The story goes that a deaf-mute gold-plated these unfamiliar coins and would buy something for a nickel or less. Sometimes, he was given change for a five-dollar gold piece since the V on the reverse could be interpreted as either five cents or five dollars! (They have also been gold-plated since that time to sell to collectors.)
Rainbow toning
Term for toning which is usually seen on silver dollars stored in bags. The “colors of the rainbow” are represented, stating with pale yellow, to green, to red, to blue, and sometimes fading to black.
Rare
A relative term indicating that a coin within a series is very difficult to find. Also, a coin with only a few examples known. A rare Lincoln cent may have thousands known while a relatively common pattern may only have a few dozen known.
Rarity
The number of specimens extant of any particular numismatic item. This can be the total number of extant specimens or the number of examples in a particular grade and higher. (This is referred to as condition rarity.)
Rarity scale
A term referring to a numerical-rating system such as the Universal Rarity Scale.
Raw
Numismatic slang for a coin or other numismatic item that has not been encapsulated by a grading service.
Rays
Term for the lines that represent sun rays on coins. First used on Continental dollars and Fugio cents, they were also used on some 1853-dated quarters and half dollars as well as 1866 and some 1867 five-cent coins.
RB
Short for red and brown or Red-Brown.
RD
Short for Red.
Real
Numismatic slang for genuine coin.
Recut date
This term is used interchangeably with "repunched date." PCGS prefers the term "repunched date" as it is more accurate. See "repunched date" for a full definition.
Red
Term used for a copper coin that still retains 95 percent or more of its original mint bloom or color. PCGS allows only slight mellowing of color for this designation (RD).
Red-Brown
A copper coin that has from 5 to 95 percent of its original mint color remaining (RB).
Redbook
First issued in 1947, this yearly price guide has been the “bible” of printed numismatic retail price guides.
Reeded edge
Term for the grooved notches on the edge of some coins. These were first imparted by the Mint’s edge machine, later in the minting process by the use of close collars - these sometimes called the third die or collar die.
Reeding mark(s)
A mark or marks caused when the reeded edge of one coin hits the surface of another coin. The contact may leave just one mark or a series of staccato-like marks.
Regular issue
Term for the coins struck for commerce. These may be both Regular and Proof strikes of a regular issue. In addition, there can be die trials of regular issues.
Regular strike
Term to denote coins struck with normal coining methods on ordinarily prepared planchets. Synonymous with business strike.
Relief
The height of the devices of a particular coin design, expressed in relation to the fields.
Replica
A copy, or reproduction, of a particular coin.
Repunched date
If a date was punched into the die and then punched in again in a different position it is considered to be a repunched date. A dramatic example of the repunched date is the 1894/94 Indian cent, where the two dates are clear, bold and well separated. Most repunched dates are more subtle, such as the 1887/6 Morgan dollar. Such coins as the 1909/8 $20 gold piece or the 1942/1 Mercury dime are not repunched dates, but Doubled Dies, where the changes were made to the working die from a differently-dated working hub.
Restrike
A coin struck later than indicated by its date, often with different dies. Occasionally, a different reverse design is used, as in the case of restrike 1831 half cents made with the reverse type used from 1840-1857.
Retoned
A term used to describe a coin that has been dipped or cleaned and then has reacquired color, whether naturally or artificially.
Reverse
The back, or tails side, of a coin. Usually opposite the date side.
Riddler
A machine used by mints that screens out planchets of the wrong size and shape prior to striking.
Rim
The raised area around the edges of the obverse and reverse of a coin. Pronounced rims resulted from the introduction of the close collar, first used in 1828 for Capped Bust dimes. (The Mint had experimented with close-collar strikings as early as 1820.)
Rim ding
Slang for rim nick.
Rim nick
Term for a mark or indentation on the rim of a coin or other metallic numismatic item.
Ring test
A test used to determine whether a coin was struck or is an electrotype or cast copy. The coin in question is balanced on a finger and gently tapped with a metal object- a pen, another coin, and so on. Struck coins have a high-pitched ring or tone, while electrotypes and cast copies have little or none. This test is not infallible; some struck coins do not ring because of planchet defects such as cracks or gas occlusions; also, some cast copies have been filled with glass (or other substances) and do ring.
Rip
A numismatic purchase that is bought substantially below the price for which it can be resold.
Roll
A set number of coins “rolled up” in a coin wrapper. In old times, a roll meant the coins were rolled up in a paper wrapper, today they are likely to be slid into a plastic coin tube. Groups of nineteenth century coins are sometimes referred to as rolls when they exist in sufficient quantities even when they might not have come in rolls during their years of issue nor or are they currently in a roll! (Cents are 50 to a roll, nickels 40 to a roll, dimes 50 to a roll, quarters 40 to a roll, half dollars 20 to a roll, and dollars 20 to a roll. Gold coins are sometimes seen in rolls but the number of coins vary. Rolls of five dollar and twenty dollar coins have been rolled 20, 40, and 50 to a roll – other variations are certainly possible. Gold dollars, quarter eagles, three-dollar coins, and eagles have also be seen in rolls of varying quantities.)
Roll friction
Minor displacement of metal, mainly on the high points, seen on coins stored in rolls.
Rolled edge
Term synonymous with rim (the raised edge around a coin). This has become part of the vernacular because of the Rolled Edge Indian Head eagle.
Rolled Edge Ten
Common name for the Indian Head eagle struck as a regular issue with a mintage reported by some as 20,000, but according to official Mint correspondence the figure was 31,550. However, some have considered it a pattern because all but 42 coins were reportedly melted. It is occasionally seen circulated but the average coin is Mint State 63 or higher.
Roller marks
Term to describe the mostly parallel incuse lines seen on some coins after striking. These were originally thought to be lines resulting from debris “scoring” the metal strips before the blanks were cut. However, new research has pointed to the final step of strip preparation, the draw bar. To reduce the strips to proper thickness, the final step was to pass them through the draw bar. It certainly seems logical that debris in the draw bar may cause these lines, if so, then draw-bar marks or lines would be a more appropriate term.
Roman finish
An experimental Proof surface used mainly on U.S. gold coins of 1909 and 1910. This is a hybrid surface with more reflectivity than Matte surfaces but less than brilliant Proofs. The surface is slightly scaly, similar to that of Satin Proofs.
Round
Short for a Pan-Pac commemorative fifty-dollar coin.
Rub
Term for slight wear, often referring just to the high points or the fields.