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The Coin
Collecting Dictionary
Welcome to the Coin Collecting Dictionary. Here you will find the
terms, definitions, etc. that are unique to our
beloved hobby. Simply click on the letter
below to bring you to all the terms and
definitions for that letter.
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F G
H I J K L
M N
O
P Q R S
T U V
W X
Y Z
F
Face Value
Face Value is used to describe the original
value/minted value of a coin. For example, a
penny has a face value of one cent. A 1909 S VDB
cent has a “face value” or $.01. A Morgan Dollar
has a face value of $1.00 even though the silver
value is much higher.
Fair
Fair, or F-1 or F-2 is a grading term for a
coin that is so worn that it is barely
identifiable as to type or year minted.
Fake
Fake is just that, a coin that is not genuine
or real. Key date coins are commonly reproduced
and sold as genuine with the intent to gain
profit.
Fasces
The faces is the ax or vertical device bound
in a bundle of sticks that appears on the back
of Mercury Head Dimes. Faces is a Roman emblem
of authority, having a bundle of rods held
together by horizontal bands. Mercury Head dimes
were struck from 1916 to 1945. The wear on the
“Faces” is used in grading Mercury Dimes.
Field
Field refers to the part of a coin that is flat.
It is the part of the coin that is NOT the
device or legends. The background on a
coin, not used for a design or inscription.
Filler
Filler is the term used on a coin that
“fills” a whole in a coin book/album/collection
until a better grade coin can be found or
purchased to replace the original coin. Often
coins that are semi-keys or keys that are
worn/damaged/etc are called fillers as they are
not suitable for high-end collections. Filler
type coins are often used to complete a
collection as not every collector can afford a
high grade semi-key or key.
Fillet Head
The head of Liberty on U.S. coins with her
hair tied with a band, usually on the forehead.
Fine
On the 70 point grading scale, Fine is
referred to F-12 to F-15, with F-12 being the
common grade where most coin collecting
magazines will show values for. The grade of
“fine” is a medium grade. Coins in this area are
coins that will show some detail, but certainly
not all, as highest points on the coin will be
well worn. Thinking in other terms, if someone
asks you how you are, and you say, “I am fine.”
It is the same as saying, “I am OK.” The same
applies to a coin. It is an OK type coin, unless
of course it is a rare semi-key.
Fineness
Fineness is the portion of precious metal in
a coin. In simple terms, it is used to express
the percent of precious metal in a coin compared
to overall weight. For example, a Washington
quarter minted before 1965 had a .900 fineness
of silver. If you take the total weight of the
coin and multiply it by .900 you would get the
total amount of silver in that coin. Remember,
coins typically have more than one metal in
them. As another example and classic mistake
people make, the silver dollar (Morgan and Peace
Dollars) do NOT contain a full ounce of silver.
In fact, it is only ounces of silver in a silver
dollar. The other part is the other metals.
Finest Known
Finest Known is a term applied to a coin that
is the best or finest known example of that
particular denomination, type, date and/or
variety. Finest Known coins of key or semi-key
dates can command substantial premium in prices
compared to the next to or three lower grades.
First Strike
First Strike is the term generally used to
refer to coins that are the first ones minted
with a new die. Coins minted with new dies will
generally show more details and/or have a
frosted surface. After the die has been used for
sometime, the strike becomes weak from the
continued use of the die. First Strike is also a
term used by PCGS (PCGS has filed copyright
protection on this term) to indicate the
specific coin was one in a group of the first
coins shipped by the US Mint. It is important to
look at the last sentence again and key in on
“shipped by the US Mint”. The Mint has gone on
record as saying that just because a bag of
coins was shipped first does not mean it was
first minted. Think FILO or LIFO for you
accountants. Personal Note: This is a scam
perpetrated by the grading companies.
Unsuspecting collectors are paying premiums for
coins that are no different than other coins.
During the process of minting a coin for a year,
the Mint may go through several dies. A coin
shipped by the mint on release day does not mean
it is a first strike. For example, the US Mint
began producing the new Washington Dollars weeks
before the release date. These were shipped to
the Federal Reserve System in no particular
order.
Fish
A term used to describe a buyer or seller who
is unaware of the true market value of a coin
and buys or sells it at a price not in-line with
its true market value.
Fishscale
A 3 cent silver U.S. coin sometimes referred
to as a trime. Also, a 5 cent silver Canadian
piece.
Flan
Another term for a planchet.
Flat Strike or Weak Strikee
different?
Occurs when the front and reverse dies do not
fully advance towards each other as a coin is
being struck, causing the highest areas of
relief on the coin's surface to be poorly
defined, because the metal is not forced into
the deepest recesses of the dies. Very common
with Buffalo nickels, Standing Liberty quarters,
and Walking Liberty half dollars from the 1920s.
Flip
A flip is a clear, flexible plastic holder
used to display and store coins. The name comes
from the fact that you can “flip” it open much
like a book creating two sections. Within each
flip side, there is a “pocket”. One side is used
to hold the coin while the otherside pocket is
used to hold a label/card which can be used to
describe the coin. Some “Flips” are not deemed
safe for coins as they contain
PVC (See "PVC").
Flip a Coin/Flipping a Coin
The process of selling a coin quickly after
purchasing it, in the desire to earn a quick
profit. As an example, at a coin show, a dealer
may buy a coin, See Fish above, for less than
market value and then turn around and
immediately sell it for its true market value
realizing a nice profit.
Flow Lines
Flow Lines refer to the lines on the surface
of a coin resulting from the outward flow of
metal during the striking process. Typically,
they are not visible unless viewing under
magnification.
Fiat Money
Money not backed by a tangible asset but is
legal tender by virtue of decree by the
government that issues it. For example, Silver
Certificate Dollars were backed up by a dollars
worth of silver.
Flat Luster
Flat Luster refers to a reduced brilliance
due to dark toning, impaired surfaces, or
cleaning. Rather than a sharp, shiny luster, the
original mint luster has been reduced.
Flat Edge
Variety of 1907 $20 “High Relief” gold coins
that has a flat border. The edge on the coin is
actually lettered, much like the new dollar
coins.
Flowing Hair
Flowing Hair is a term used to refer to a
design type on most copper and silver U.S. coins
struck from 1793-1795.
Flying Eagle/Flying Eagle Cent
A term used to refer to a coin produced
officially from 1857 to 1858. It was the first
US small cent. Pattern coins with the same
design from 1856 also reached circulated and are
highly valuable. Flying Eagle is also used to
describe the reverse of the Gobrecht Dollar
produced from 1836 to 1839
Flyspecks
Minute spots of oxidation sometimes found on
coin surfaces, resembling flyspecks. These spots
are caused by exposure to minute moisture
particles such as droplets of spit from talking
near or over a coin. Top grade nickel and copper
coins most susceptible. Remember, environmental
conditions also play into the preservation of a
coin.
Folder
Four-dollar gold piece
A pattern coin issued in gold in 1879 and
1880, nicknamed “Stella.”. It never reached
circulation.
Fractional Currency
Paper money with a face value of less than
one dollar.
Fresh Material
Dealers will refer to coins that have not
been on the market for a very long time, or have
not been on the market ever, as fresh material.
Franklin Half Dollar
A US coin/half dollar produced from 1948 to
1963 that contained the head of Benjamin
Franklin on the front and the Liberty bell on
the back as the prominent design. By law, the
reverse of a coin had to contain an eagle. This
coin contained a small eagle to satisfy the
requirement.
Friction
Friction is the term used to describe the
wear on a coin. Typically, friction refers to
the marks or wear caused by sliding a coin in a
holder, across a surface of a table, sliding the
coin into a holder, or the process of cleaning a
coin. The resulting “friction” can reduce the
value of a coin. For Mint State coins, the
slightest friction/wear can have significant
impact on the value of a coin.
Frosted Devices
A term used when referring the devices/raised
parts of a coin. If the raised design elements
has a white or slightly grainy finish, it is
known as “frosted”. See below.
Frosted proof/Frosty Appearance
Frosted or Frosty refers to a proof coin that
has a mirror like surface in the
background/field with a frosted (or dull)
surface on the design/device. The “Frosted” part
typically looks white in appearance. Proofs
prior to 1937 and again beginning in the 1970's
have frosted designs. Coins with a higher degree
of frostiness and mirror-like background will
result in a higher value of the coin, assuming
all other things being equal.
Fugio Cent
Term used to refer to copper coins struck in
1787 by private minters under contract with the
U.S. government. Many of the design elements are
credited to Benjamin Franklin. They were the
first coins issued by authority of the United
States in 1787. Fugio is Latin for "I fly", in
this instance, referring to time.
Full Bands
Full Bands or FB is the term used to describe
the horizontal and diagonal bands on the fasces
on a Mercury Dimes. To be graded FB, the coin
must be well struck and contain fully defined
bands. FB Mint State coins command a premium
over non FB coins.
Full Bell Lines or FBL
FBL is used to describe the horizontal lines
near the bottom of the bell on the reverse of
Mint State Franklin Half Dollars. Full Bell
Lines means that all the lines on the Liberty
Bell extend fully across the bell. Weakly struck
coins will exhibit lines that are not clear or
appear worn due to a weak strike. FBL Franklin
Halves are scarcer than non FBL and will
therefore command a premium in price.
Full Head or FH
Full Head is a term used to describe a
Standing Liberty Quarter Dollars that has full
details on Liberty’s head. Only well struck
coins will have these features.
Full Steps or FS
Grading term used in the Jefferson Nickel
series. FS nickels will exhibit complete details
on the steps leading up to Monticello,
indicating a rare full strike. FS coins can
command a slight premium over non FS coins. The
term FS is a recent term in grading Jefferson
Nickels.
Full Strike
Full Strike is used to describe a coin that
will exhibit all the features of the original
design. It has the complete details of the
original design. Dies can become worn over time
and will then produce coins that do not have all
the features of the original design. Much like
the tire on your car, over time and use, the
original design becomes worn resulting in less
of a footprint.
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