By Bitsobull 
Glossary of numismatic terms every beginner should know
Collecting gold coins is a fascinating hobby that combines history, art, and material value. However, the world of numismatics can seem overwhelming, especially at first. You quickly encounter technical terms that sound more like a foreign language than a hobby. That’s why we’ve compiled this beginner-friendly glossary—to ensure you’re well-informed from the start.
1. Numismatics
The scientific study of coins, banknotes, medals and related objects as well as their collection.
2. Bullion coin
A coin made of precious metal (e.g., gold or silver) that primarily serves as an investment. Bullion coins usually have no significant collector value beyond their material value.
3. Proof / PF/ PR
A special minting quality with polished dies and blanks. These coins are characterized by reflective surfaces and particularly sharp details. “PF70” or “PR70” indicates a specimen in perfect condition.
4. Uncirculated (UNC)
A coin that has never been circulated and has fully retained its original mint condition. Also known as “Uncirculated” or “Mint State” (MS).
5. MS (Mint State)
Designation for uncirculated coins on a scale from MS60 (lowest grade) to MS70 (perfect condition).
6. About Uncirculated (AU – About Uncirculated)
A coin with minimal signs of wear, mostly due to brief handling, but overall in very good condition.
7. Nominal value
The legally established monetary value of a coin (e.g. €100 or $50), which is often far below its actual market value.
8. Edition (Mintage)
The number of copies minted of a particular coin type or year. A small mintage usually increases rarity and collectibility.
9. Obverse
The front of a coin (“head”), usually with a portrait or national coat of arms.
10. Revers
The reverse of a coin (“counterside”), often depicting a motif, animal, building, or commemorative design.
11. Edge
The outer edge of the coin. It can be smooth, grooved, inscribed, or decorated.
12. Stamp (Die)
A hardened embossing roller tool that transfers the coin motif to the round (blank).
13. Round (Planchet)
An unprocessed metal blank that becomes a coin after minting.
14. Conservation (Grades)
The condition of a coin, usually according to a standardized grading system. The better the condition, the higher the value.
15. Slabbed Coin
A coin that has been examined by an independent grading agency (e.g. NGC or PCGS ) and sealed in a plastic capsule.
16. NGC / PCGS
Two leading independent institutions for grading and authenticating coins: Numismatic Guaranty Company and Professional Coin Grading Service.
17. Toning
Natural color change on the coin’s surface due to oxidation. Some collectors appreciate beautiful toning, while others view it as a flaw.
18. Patina
A layer on the surface of coins resulting from aging—usually on older or antique pieces. It is formed through chemical reactions (e.g., oxidation) and is valued by many collectors as a sign of authenticity and character. Greenish or brown patina is particularly common on bronze coins.
19. Commemorative Coin
A coin issued to commemorate a person, event or theme – often with a limited edition and high collectibility.
20. Error Coin
A coin with a manufacturing defect (e.g., off-centered striking or double strike). Often sought after due to its rarity.
21. Legal tender
A coin or banknote officially authorized as legal tender by a government.
Conclusion
This glossary provides a helpful introduction to numismatic terminology. The deeper you delve into the world of gold coins, the more familiar these terms will become—and the more confidently you’ll make your purchasing decisions. You can find further tips, guides, and fascinating background information on our blog or in our online shop.
Ready for the next step? Discover certified, rare gold coins with collectible potential at RareCoin.Store .
Further materials for beginners
If you would like to learn more about gold coins and numismatics, we recommend the following blog posts on RareCoin.Store:
You can find these and many other articles in our know-how section: rarecoin.store/know-how