Numismatic Terminology
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Numismatic Terminology
This glossary of numismatics is a list of definitions of terms and concepts relevant to numismatics and coin collecting, as well as sub-fields and related disciplines, with concise explanations for the beginner or professional. Numismatics (ancient Greek: , meaning "monetary") is the scientific study of money and its history in all its varied forms. While numismatists are often characterized as studying coins, the discipline also includes the study of other types of money, such as banknotes, stock certificates, medals, medallions, and tokens (also referred to as exonumia). Sub-fields and related fields of numismatics include: * Exonumia, the study of coin-like objects such as token coins and medals, and other items used in place of legal currency or for commemoration. * Notaphily, the study of paper money or banknotes. * Philately, the study of postage stamps. * Scripophily, the study and collection of stocks and bonds. A B ...
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Numismatics
Numismatics is the study or collection of currency, including coins, tokens, paper money, medals and related objects. Specialists, known as numismatists, are often characterized as students or collectors of coins, but the discipline also includes the broader study of money and other means of payment used to resolve debts and exchange goods. The earliest forms of money used by people are categorised by collectors as "Odd and Curious", but the use of other goods in barter exchange is excluded, even where used as a circulating currency (e.g., cigarettes or instant noodles in prison). As an example, the Kyrgyz people used horses as the principal currency unit, and gave small change in lambskins; the lambskins may be suitable for numismatic study, but the horses are not. Many objects have been used for centuries, such as cowry shells, precious metals, cocoa beans, large stones, and gems. Etymology First attested in English 1829, the word ''numismatics'' comes from the adjective ...
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Stock
In finance, stock (also capital stock) consists of all the shares by which ownership of a corporation or company is divided.Longman Business English Dictionary: "stock - ''especially AmE'' one of the shares into which ownership of a company is divided, or these shares considered together" "When a company issues shares or stocks ''especially AmE'', it makes them available for people to buy for the first time." (Especially in American English, the word "stocks" is also used to refer to shares.) A single share of the stock means fractional ownership of the corporation in proportion to the total number of shares. This typically entitles the shareholder (stockholder) to that fraction of the company's earnings, proceeds from liquidation of assets (after discharge of all senior claims such as secured and unsecured debt), or voting power, often dividing these up in proportion to the amount of money each stockholder has invested. Not all stock is necessarily equal, as certain classe ...
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Gold
Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile metal in a pure form. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements and is solid under standard conditions. Gold often occurs in free elemental ( native state), as nuggets or grains, in rocks, veins, and alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum), naturally alloyed with other metals like copper and palladium, and mineral inclusions such as within pyrite. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides). Gold is resistant to most acids, though it does dissolve in aqua regia (a mixture of nitric acid and hydrochloric acid), forming a soluble tetrachloroaurate anion. Gold is ...
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Billon (alloy)
Billon () is an alloy of a precious metal (most commonly silver, but also gold) with a majority base metal content (such as copper). It is used chiefly for making coins, medals, and token coins. The word comes from the French ''bille'', which means "log". History The use of billon coins dates from ancient Greece and continued through the Middle Ages. During the sixth and fifth centuries BC, some cities on Lesbos used coins made of 60% copper and 40% silver. In both ancient times and the Middle Ages, leaner mixtures were adopted, with less than 2% silver content. Billon coins are perhaps best known from the Roman Empire, where progressive debasements of the Roman ''denarius'' and the Roman provincial ''tetradrachm'' in the second century AD led to declining silver and increasing bronze content in these denominations of coins. Eventually, by the third quarter of the second century AD, these coins were almost entirely bronze, with only a thin coating or even a wash of silver. ...
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Copper
Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkish-orange color. Copper is used as a conductor of heat and electricity, as a building material, and as a constituent of various metal alloys, such as sterling silver used in jewelry, cupronickel used to make marine hardware and coins, and constantan used in strain gauges and thermocouples for temperature measurement. Copper is one of the few metals that can occur in nature in a directly usable metallic form ( native metals). This led to very early human use in several regions, from circa 8000 BC. Thousands of years later, it was the first metal to be smelted from sulfide ores, circa 5000 BC; the first metal to be cast into a shape in a mold, c. 4000 BC; and the first metal to be purposely alloyed with another metal, tin, to create ...
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Nickel
Nickel is a chemical element with symbol Ni and atomic number 28. It is a silvery-white lustrous metal with a slight golden tinge. Nickel is a hard and ductile transition metal. Pure nickel is chemically reactive but large pieces are slow to react with air under standard conditions because a passivation layer of nickel oxide forms on the surface that prevents further corrosion. Even so, pure native nickel is found in Earth's crust only in tiny amounts, usually in ultramafic rocks, and in the interiors of larger nickel–iron meteorites that were not exposed to oxygen when outside Earth's atmosphere. Meteoric nickel is found in combination with iron, a reflection of the origin of those elements as major end products of supernova nucleosynthesis. An iron–nickel mixture is thought to compose Earth's outer and inner cores. Use of nickel (as natural meteoric nickel–iron alloy) has been traced as far back as 3500 BCE. Nickel was first isolated and classified as an e ...
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Base Metal
A base metal is a common and inexpensive metal, as opposed to a precious metal such as gold or silver. In numismatics, coins often derived their value from the precious metal content; however, base metals have also been used in coins in the past and today. Specific definitions In contrast to noble metals, base metals may be distinguished by oxidizing or corroding relatively easily and reacting variably with diluted hydrochloric acid (HCl) to form hydrogen. Examples include iron, nickel, lead and zinc. Copper is also considered a base metal because it oxidizes relatively easily, although it does not react with HCl. In mining and economics, the term base metals refers to industrial non-ferrous metals excluding precious metals. These include copper, lead, nickel and zinc. The U.S. Customs and Border Protection agency is more inclusive in its definition of commercial base metals. Its list includes—in addition to copper, lead, nickel, and zinc—the following metals: iron and st ...
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Chop Marks On Coins
Chop marks on coins are Chinese characters stamped or embossed onto coins by merchants in order to validate the weight, authenticity and silver content of the coin. Depending on particular technique coins said to have been "chopmarked", "countermarked" and "counterstamped". Starting with the 18th century, a number of European, American and Japanese silver coins (generically known as the trade dollar) began circulating in the Far East. Each merchant's firm had its own mark and, after heavy circulation, the design of the coin became completely obliterated by the chop marks. Chop marks were also used on copper-alloy U.K. Large Pennies, U.S. Large Cents and other copper coins of Europe, Central, South and North America and have Hindu, Chinese, Japanese and Arabic nation's chopmarks as well as English alphabet chop marks from British and American Merchants in Hong Kong from the 1830s to 1960s when world silver coins and large pennies from many European and British Empire nations gav ...
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Metallurgical Assay
A metallurgical assay is a compositional analysis of an ore, metal, or alloy, usually performed in order to test for purity or quality. Some assay methods are suitable for raw materials; others are more appropriate for finished goods. Raw precious metals (bullion) are assayed by an assay office. Silver is assayed by titration, gold by cupellation and platinum by inductively coupled plasma optical emission spectrometry (ICP OES). Precious metal items of art or jewelry are frequently hallmarked (depending upon the requirements of the laws of either the place of manufacture or the place of import). Where required to be hallmarked, semi-finished precious metal items of art or jewelry pass through the official testing channels where they are analyzed or assayed for precious metal content. While different nations permit a variety of legally acceptable finenesses, the assayer is actually testing to determine that the fineness of the product conforms with the statement or claim of fin ...
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Annealing (metallurgy)
In metallurgy and materials science, annealing is a heat treatment that alters the physical and sometimes chemical properties of a material to increase its ductility and reduce its hardness, making it more workable. It involves heating a material above its recrystallization temperature, maintaining a suitable temperature for an appropriate amount of time and then cooling. In annealing, atoms migrate in the crystal lattice and the number of dislocations decreases, leading to a change in ductility and hardness. As the material cools it recrystallizes. For many alloys, including carbon steel, the crystal grain size and phase composition, which ultimately determine the material properties, are dependent on the heating rate and cooling rate. Hot working or cold working after the annealing process alters the metal structure, so further heat treatments may be used to achieve the properties required. With knowledge of the composition and phase diagram, heat treatment can be used to ad ...
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Bronze
Bronze is an alloy consisting primarily of copper, commonly with about 12–12.5% tin and often with the addition of other metals (including aluminium, manganese, nickel, or zinc) and sometimes non-metals, such as phosphorus, or metalloids such as arsenic or silicon. These additions produce a range of alloys that may be harder than copper alone, or have other useful properties, such as ultimate tensile strength, strength, ductility, or machinability. The three-age system, archaeological period in which bronze was the hardest metal in widespread use is known as the Bronze Age. The beginning of the Bronze Age in western Eurasia and India is conventionally dated to the mid-4th millennium BCE (~3500 BCE), and to the early 2nd millennium BCE in China; elsewhere it gradually spread across regions. The Bronze Age was followed by the Iron Age starting from about 1300 BCE and reaching most of Eurasia by about 500 BCE, although bronze continued to be much more widely used than it is in mod ...
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Cupro-nickel
Cupronickel or copper-nickel (CuNi) is an alloy of copper that contains nickel and strengthening elements, such as iron and manganese. The copper content typically varies from 60 to 90 percent. (Monel is a nickel-copper alloy that contains a minimum of 52 percent nickel.) Despite its high copper content, cupronickel is silver in colour. Cupronickel is highly resistant to corrosion by salt water, and is therefore used for piping, heat exchangers and condensers in seawater systems, as well as for marine hardware. It is sometimes used for the propellers, propeller shafts, and hulls of high-quality boats. Other uses include military equipment and chemical, petrochemical, and electrical industries. Another common 20th-century use of cupronickel was silver-coloured coins. For this use, the typical alloy has 3:1 copper to nickel ratio, with very small amounts of manganese. In the past, true silver coins were debased with cupronickel, such as coins of the pound sterling from 1947 onwa ...
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