Coin & Jewelry Glossary: 115 Terms Every Seller Should Know
Plain-English definitions from a licensed Connecticut precious metals dealer. If a term you're researching isn't here, call us — explaining what you have is part of every free evaluation.
Numbers
40% Silver
U.S. coins containing 40% silver, mainly Kennedy half dollars (1965–1970) and certain “S” mint Eisenhower dollars (1971–1976). Worth their silver melt value, well above face value.
90% Silver
The standard composition of U.S. dimes, quarters, half dollars, and dollars minted in 1964 and earlier. Each $1 of face value contains about 0.715 troy ounces of pure silver.
925
The purity stamp for sterling silver, meaning 92.5% pure silver. Found on jewelry, flatware, and holloware. See Sterling Silver.
A
Acid Test
A method of testing gold purity by applying nitric acid solutions to a small scratch sample. Different acid strengths confirm different karat levels.
Actual Gold Weight (AGW)
The weight of pure gold contained in a coin or bar, excluding alloy metals. Used to calculate melt value.
Actual Silver Weight (ASW)
The weight of pure silver in a coin. A Morgan or Peace dollar has an ASW of 0.7734 troy ounces.
Alloy
A mixture of metals. Most gold and silver items are alloys — pure metal blended with copper, nickel, or zinc for durability.
About Uncirculated (AU)
A grade for coins with only the slightest trace of wear on the highest points. Graded AU50–AU58 on the Sheldon scale.
Appraisal
A professional assessment of an item's value. A verbal appraisal (free at most coin shops) supports a selling decision; a written appraisal is a formal document often used for estates or insurance.
Assay
A test that determines the precise precious metal content of an item, typically performed by a refinery.
Authentication
Verifying that a coin, bar, or piece of jewelry is genuine rather than counterfeit. Especially important for rare dates and Trade dollars.
B
Bag Marks
Small nicks and abrasions on a coin caused by contact with other coins in mint bags. Common on large silver dollars; they affect grade but not authenticity.
Base Metal
A non-precious metal such as copper, zinc, nickel, or steel. Plated jewelry is base metal under a thin precious layer.
Bid Price
The price a buyer is willing to pay for a metal or coin at a given moment. Dealer offers are typically based on live bid prices.
Bullion
Precious metal valued by weight and purity rather than rarity — bars, rounds, and common gold or silver coins.
Bullion Coin
A government-minted coin traded for its metal content, such as the American Silver Eagle or Gold Eagle. Priced close to spot plus a small premium.
Business Strike
A coin struck for everyday circulation, as opposed to a proof coin made for collectors.
C
Cameo
A proof coin with frosted design elements contrasting against mirror-like fields. Deep cameo (DCAM) shows the strongest contrast and commands higher premiums.
Carat
The unit of weight for gemstones (one carat = 0.2 grams). Not to be confused with karat, which measures gold purity.
Circulated
A coin that shows wear from use in commerce. Circulated common-date silver coins typically trade near melt value.
Cleaned Coin
A coin whose surface has been polished, scrubbed, or chemically treated. Cleaning permanently reduces collector value — often by 50% or more.
Coin Roll
A standard quantity of coins wrapped in paper — 50 pennies, 40 nickels, 50 dimes, 40 quarters, or 20 half dollars.
Coin Silver
An older American silver standard of 90% purity, used in antique flatware and holloware before sterling became standard.
Commemorative
A coin issued to honor a person, place, or event. Classic (pre-1954) commemoratives can be valuable; many modern ones trade near melt.
Counterfeit
A fake coin or bar. Trade dollars, key-date coins, and gold bars are the most commonly counterfeited items; professional testing catches them.
Cull
A coin so worn or damaged it trades only for its metal content, with no collector premium.
D
Dealer Spread
The difference between what a dealer pays (bid) and what an item sells for (ask). Tighter on bullion, wider on items that must be refined.
Dental Gold
Crowns, bridges, and fillings made from gold alloy, typically 10K–18K equivalent. Fully sellable for melt value. See scrap gold.
Die
The engraved steel tool that strikes a coin's design onto a blank. Die errors create some of the most valuable coins.
Doubled Die
A coin struck from a die that was engraved with a doubled image, making the date or lettering appear twice. The 1955 doubled die Lincoln cent is the most famous example.
E
EPNS
Electroplated Nickel Silver. A marking indicating silverplate, not sterling. EPNS items contain no meaningful silver value.
Error Coin
A coin with a minting mistake — off-center strike, wrong planchet, missing element. Genuine errors can carry significant premiums.
Estate Collection
Coins, jewelry, and precious metals inherited or handled as part of settling an estate. Best evaluated piece by piece before any decisions are made. See our executor's guide to selling an estate collection.
Extremely Fine (XF/EF)
A grade for coins with light overall wear but sharp detail remaining, graded XF40–XF45.
Eye Appeal
The overall visual attractiveness of a coin — luster, color, strike quality. Two coins of the same grade can differ meaningfully in value due to eye appeal.
F
Face Value
The denomination stamped on a coin or note — what it's legally worth as money. Precious metal coins are almost always worth more than face value.
Fancy Serial Number
A currency serial number collectors seek — low numbers, repeaters, ladders, or solid digits. Can add real value to otherwise common notes.
Federal Reserve Note
Standard modern U.S. paper currency with a green Treasury seal. Most are worth face value unless old, rare, or carrying a fancy serial number.
Fineness
The purity of a precious metal expressed as a decimal or per-thousand figure. .999 fine means 99.9% pure. See Millesimal Fineness.
Fine Gold
Gold of .999 or higher purity, the standard for modern bullion bars and many coins.
G
Gold Certificate
U.S. paper currency (yellow seal) once redeemable for gold. Genuine examples are scarce and collectible, often worth hundreds or more.
Gold Eagle (American Gold Eagle)
The official U.S. gold bullion coin, minted since 1986 in 1/10 oz to 1 oz sizes. 22K (91.67% gold) with full stated gold weight.
Gold-Filled (GF)
A thick layer of gold mechanically bonded to base metal, marked “GF” or “1/20 12K GF.” Contains a small amount of recoverable gold — far less than solid gold, more than plating.
Gold-Plated (GP)
A microscopically thin layer of gold applied over base metal. Effectively no gold recovery value.
Grading
Assessing a coin's condition on the 70-point Sheldon scale, from Poor (1) to perfect Mint State (70). Grade is one of the biggest drivers of a coin's value.
Greysheet (CDN)
The Coin Dealer Newsletter, the industry's standard wholesale price guide. Dealers use CDN pricing as a baseline for rare coin offers.
Good (G)
A heavily worn but fully identifiable coin grade (G4–G6). Key dates can still be valuable even in Good condition.
H
Hairlines
Fine parallel scratches on a coin's surface, usually evidence of past cleaning or wiping. Reduce grade and value.
Hallmark
An official stamp on precious metal items indicating purity, and often maker and origin. British and European hallmarks follow formal systems; U.S. items typically show purity plus a maker's mark.
HGE (Heavy Gold Electroplate)
A marking for thicker gold electroplating. Still plating — no meaningful gold value.
I
Indian Head Cent
The U.S. one-cent coin minted 1859–1909. Nearly all are worth more than face value; key dates like the 1877 are worth hundreds or more. See our old penny value guide.
Ingot
A cast bar of refined precious metal, stamped with weight and purity.
Intrinsic Value
What an item is worth purely for its metal content. Synonymous with melt value.
J
Junk Silver
Dealer shorthand for circulated, common-date 90% silver U.S. coins traded strictly for silver content. “Junk” refers to the lack of collector premium, not condition or worth.
K
Karat (K)
The measure of gold purity out of 24 parts. 24K is pure gold; 14K is 58.3% gold; 10K is 41.7%. Stamped inside jewelry as 10K, 14K, 18K, or as 417, 585, 750. See our gold karat value guide.
Key Date
The rarest, most valuable date-and-mint-mark combination in a coin series — like the 1909-S VDB Lincoln cent or the 1893-S Morgan dollar.
Krugerrand
The South African gold bullion coin, first minted in 1967 and the world's most traded gold coin. 22K with one full troy ounce of gold in the standard size.
L
Legal Tender
Currency officially recognized as valid payment. All U.S. coins remain legal tender at face value regardless of age.
Luster
The original sheen a coin receives when struck — a cartwheel-like reflectivity on uncirculated coins. Original luster is a major component of grade, and cleaning destroys it.
M
Maker's Mark
The stamped symbol or name identifying who manufactured a piece of jewelry or silver. Marks from makers like Gorham, Towle, or Tiffany affect value.
Maple Leaf (Canadian)
Canada's bullion coin series, struck in .9999 fine gold and .9999 fine silver.
Melt Value
What an item is worth if melted down: weight × purity × spot price. The floor value for any precious metal item.
Millesimal Fineness
Purity expressed in parts per thousand: 585 = 58.5% (14K), 750 = 75% (18K), 925 = sterling, 999 = fine.
Mint Mark
A small letter showing where a coin was struck: D (Denver), S (San Francisco), O (New Orleans), CC (Carson City), W (West Point), or none (typically Philadelphia). Date-plus-mint-mark determines rarity.
Mint Set
An official U.S. Mint package of uncirculated business-strike coins from each mint for a given year. See our proof set value guide.
Mint State (MS)
Uncirculated condition, graded MS60–MS70. An MS65 coin can be worth many multiples of the same coin in circulated grades.
Mintage
The number of coins struck of a particular date and mint mark. Lower mintage generally means greater rarity.
Morgan Dollar
The classic U.S. silver dollar struck 1878–1904 and again in 1921. Common dates trade near silver value; Carson City and key dates carry major premiums. See our silver dollar value guide.
N
Numismatic Premium
Value above melt attributable to a coin's rarity, date, condition, or collector demand.
Numismatics
The study and collecting of coins and currency. A numismatist is a coin expert.
O
Obverse
The front (“heads”) side of a coin, usually bearing the main portrait and date.
Off-Center Strike
An error where the design is struck misaligned on the blank. Dramatic off-center coins that still show a full date are collectible.
P
Patina
The natural surface change metal develops over time. On coins and antique silver, original patina is desirable — never remove it.
Pawn Shop
A lender that also buys goods across many categories. Unlike a specialized coin dealer, pawn shops typically price precious metals conservatively and rarely evaluate numismatic value.
PCGS
Professional Coin Grading Service, one of the two major third-party coin grading companies. PCGS-certified (“slabbed”) coins carry guaranteed grades.
NGC
Numismatic Guaranty Company, the other leading third-party grading service. NGC and PCGS certification are equally respected.
Peace Dollar
The U.S. silver dollar struck 1921–1935, designed by Anthony de Francisci. Common dates trade near silver value; the 1921 high relief and 1928 are key dates. See our silver dollar value guide.
Pennyweight (dwt)
A jewelers' unit of weight: 20 pennyweight = 1 troy ounce, so 1 dwt = 1.555 grams. Some buyers quote gold prices per pennyweight — always confirm the unit.
Planchet
The blank metal disc a coin is struck on. Wrong-planchet errors (like a 1943 cent struck on bronze) are among the most valuable error coins.
Premium
The amount above melt or spot price an item commands, whether for rarity (numismatic premium) or bullion demand.
Proof
A coin struck with specially polished dies and blanks for collectors, showing mirror fields and sharp detail. Designated PF or PR.
Proof Set
An official Mint package of proof coins for one year. Most modern clad proof sets trade below issue price; silver proof sets carry a melt-value floor. See our proof set value guide.
R
Raw Coin
A coin that has not been certified and encapsulated by a grading service. The opposite of a slabbed coin.
Reeded Edge
The ridged edge on dimes, quarters, and half dollars — originally an anti-shaving security feature on silver coinage.
Refinery
A facility that melts and purifies scrap precious metals. Dealers sell accumulated scrap to refineries, which is why scrap offers sit below spot.
Restrike
A coin struck from original dies after its original issue period. Some restrikes are official and collectible; value differs from originals.
Reverse
The back (“tails”) side of a coin.
Rolled Gold Plate (RGP)
A thin layer of gold bonded to base metal, thicker than electroplate but thinner than gold-filled. Minimal recovery value.
Rose Gold
Gold alloyed with a higher share of copper, giving a pink hue. Same karat value as yellow or white gold of equal purity.
Round
A privately minted coin-shaped piece of bullion. Rounds carry no face value and trade purely on metal content.
S
Scrap Gold
Any gold item sold for its metal content rather than as a finished piece — broken chains, single earrings, dental gold, damaged jewelry. Weight and karat determine value. See what we buy.
Semi-Key Date
A scarcer-than-average date in a series — not the rarest, but commanding a noticeable premium over common dates.
Sheldon Scale
The 1-to-70 numerical grading scale used for all U.S. coins, created by Dr. William Sheldon. 70 is perfect.
Silver Certificate
U.S. paper currency (blue seal) once redeemable for silver. Common 1935 and 1957 $1 certificates trade at modest premiums; earlier and large-size notes can be worth far more. See our old paper money value guide.
Silver Eagle (American Silver Eagle)
The official U.S. silver bullion coin, one troy ounce of .999 fine silver, minted since 1986.
Silverplate
A thin layer of silver over base metal, common in flatware and tea sets. Marked EPNS, “plate,” or a maker name without “sterling.” No meaningful silver recovery value.
Slabbed Coin
A coin certified, graded, and sealed in a tamper-evident holder by PCGS or NGC. The certified grade travels with the coin.
Spot Price
The live global market price for one troy ounce of a precious metal. The reference point for every gold and silver offer. See our gold spot price guide.
Star Note
A replacement banknote printed to substitute for a misprinted note, identified by a star at the end of the serial number. Scarce star notes carry premiums. See our old paper money value guide.
Sterling Silver
The 92.5% silver standard used in jewelry, flatware, and holloware, marked “Sterling” or 925. Always worth real money by weight.
Stepped-Up Basis
A tax concept: inherited items are generally assigned a new cost basis equal to fair market value at the owner's death. Consult a tax professional — it matters when selling inherited coins and jewelry. See our executor's guide.
T
Tarnish
The dark surface layer silver develops from exposure to air. Tarnish does not reduce a coin's or flatware's metal value — and removing it from coins destroys collector value.
Toning
The natural coloration coins acquire over decades. Attractive original toning can significantly increase a coin's value; never attempt to remove it.
Trade Dollar
A heavier U.S. silver dollar struck 1873–1885 for commerce with Asia. Genuine examples are valuable — and this is the most counterfeited U.S. coin, so authentication is essential.
Troy Ounce
The standard unit for precious metals: 31.103 grams, about 10% heavier than a regular (avoirdupois) ounce. All spot prices are quoted per troy ounce.
Type Coin
A common-date example of a coin design, collected to represent the type rather than a specific rare date.
U
Uncirculated
A coin with no wear from circulation, retaining full original luster. See Mint State.
V
Variety
A recognized die difference within a coin issue — repunched mint marks, doubled dies, design tweaks. Some varieties carry large premiums.
Vermeil
Sterling silver plated with gold. Valued for its silver content; the gold layer is too thin to recover.
W
War Nickel
U.S. five-cent coins struck 1942–1945 containing 35% silver, identified by a large mint mark above Monticello. Worth several times face value in silver.
Wheat Penny
The Lincoln cent design of 1909–1958 with wheat stalks on the reverse. Most are worth a few cents; key dates and errors are worth serious money. See our old penny value guide.
White Gold
Gold alloyed with white metals like nickel or palladium, often rhodium-plated. Identical melt value to yellow gold of the same karat.
Whizzing
Aggressively polishing a coin with a wire brush or wheel to simulate mint luster. A form of coin doctoring that severely damages value; graders detect it easily. See why you should never clean coins.
Written Appraisal
A formal, documented per-item valuation, typically used for estates, insurance, or legal purposes — distinct from a free verbal offer. See our appraisal services.
X
XRF Analyzer
An X-ray fluorescence device that reads a metal's exact composition in seconds without damaging the item. The modern standard for testing gold and silver purity.