A Basic Comprehensive List Of Coin Terms For The First Time Buyer

If you are a new buyer of American Silver Eagles, there are a few basics that will be helpful to understand before you make your initial purchase. An easy way to pick up a lot of information in a short period of time is to attend a coin show. Also, another effective way to build information over time is to study coin data online. We have put together a list of some very basic terms to help you get started with your research and first purchase.

Coin Terms

The coin collecting glossary of terms is actually quite extensive. But for the first time buyer of American Silver Eagles or other precious metal coins, this list should be a good place to start.

- Blemishes: Imperfections on a coin consisting of one or several nicks, discolorations or marks that affect the coin's value.

- Blue book: United States coin valuation guide.

- Bullion: A high-content purity description reserved for gold or silver coins, bars and other shapes for valuation purposes.

- Certified coin: Sometimes referred to as a 'slab', a certified coin has been graded and encapsulated in a tamper-resistant package by an independent grading service.

- Circulated: A coin showing some degree of wear most often due to general circulation from the life of the coin.

- Face value: Denotes the currency level as spending money, with no relationship to actual value by metal weight or other grading criteria.

- Fine weight: The real weight of the precious metal in a coin, bar or ingot; this is always less than the total weight of the coin.

- First strike: A coin imprinted just after a new die batch has been implemented, generally netting distinct and sharp details often sought by veteran collectors.

- Ingot: A conveniently shaped precious metal ideal of transporting and storage.

- Luster: The glossy sheen on a coin that is strongest just after minting though usually fading due to time and circulation.

- Market value: Price of a precious metal coin's actual worth if sold; separate from face value.

- Obverse: Otherwise known as the 'head' side of the coin that includes the date and principal device.

- Proof: The result of a specialized manufacturing process, usually double-struck to accentuate feature and relief sharpness and is typically uncirculated as currency.

- Raw: An ungraded and un-encapsulated coin.

- Reeded edge: A vertical grooved edge around the circumference of a coin.

- Reverse: Refers to the 'tail' side of the coin.

- Silver eagle: A silver bullion-based coin containing 1 oz of silver, not intended for circulation featuring Augustus Saint-Gaudens reverse side eagle design.

- Spot price: Reflects the current market price of sale by weight of a precious metal or other commodity.

- Spread: The price difference between the seller's purchase and sale price of a coin.

- Strike: The stamping of a coin surface with a specific design.

- Troy ounce: A measured ounce (1.1) unit of weight specifically relegated to precious metals.

- Uncirculated: Coins not intended for circulation as currency, otherwise described as a coin showing with no wear.

While there are numerous other terms used in the coin investment and collection world, the above list represents most basic terms for the first-time buyer.

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