GOLDMARKET offers you a glossary with over 200 terms on gold, gold bullion and gold coins. Find out more about numismatics (collector coins) and investment gold.

The definitions were drawn up by the experts at GOLDMARKET, a company specializing in precious metals and investment gold.

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• a
• Alloy: what is an Alloy?
  An alloy is the combination of a metallic element with one or more other metallic or non-metallic chemical elements used in the preparation of coins, such as silver, nickel, copper and gold.
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• Aloi: what is an Aloi in Numismatics?
  This is the title of a coin, defining its dimensionless size. The aloi corresponds to the metal composition of a coin, the ratio of a fine metal (gold, silver, nickel, etc.) to the total mass of the alloy.
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• Anépigraphe: what is an Anépigraphe?
  In numismatics, an anepigraph is a coin with no inscription or legend.
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• Antique (coin): what is an Antique (coin)?
  Coins from before the fall of the Roman Empire, coins from before the 5th century. Today, ancient Greek, Roman, Byzantine and Gallic coins are considered to be antique.
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• Antoninian: what's an Antoninian?
  Roman coin minted at the beginning of the 3rd century, with a value of two denarii. At the time of its creation, it was made of silver, then devalued into billon coins.
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• Gold arbitration
  Simultaneous buying and selling of gold on different markets to take advantage of price variations.
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• Sterling silver: what is sterling silver?
  The term sterling silver is an Anglo-Saxon designation. Used until 1919 in the British Empire, sterling silver refers to the 925 thousandths silver alloy used in coinage.
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• ASK Price on Gold
  The price at which a seller agrees to sell gold.
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• Workshop: what is a Atelier de Frappe?
  In numismatics, the mint refers to the place where the coin was minted. On coins, the mint mark, its location or its symbol are indicated by a letter, by a dot under one of the letters in the legend, or by an abbreviation.
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• Aureus: what is an Aureus?
  Also known as deniers d'or, the Aureus is a coin worth twenty-five denarii. The aureus was minted episodically during the Roman Empire, and it wasn't until the reign of Julius Caesar that its minting became regular.
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• Obverse (or right): what is an obverse (or right)?
  The obverse is the side of the coin bearing the main design. In everyday language, it's called the "face". The obverse usually bears a profile, a coat of arms, a strong symbol of the authority minting the coin.
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• Axe: what's an Axe?
  In numismatics, the axis represents the direction or orientation of the engraving of the designs on the obverse as opposed to those on the reverse, indicating how the corners hold up when struck. Medal coins are those with the same axis on both sides of the coin, as opposed to bullion coins.
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• b
• Central Bank: what is a Central Bank?
  The central bank is an institution entrusted by the state (or the euro zone) with the task of implementing monetary policy. It plays one of three roles: issuing a currency (the euro or the dollar, for example) controlling and supervising the operation of financial markets,(...)
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• Banque de France: Who is the Banque de France?
  The Banque de France is the central bank of France. It is a two-hundred-year-old institution, privately owned when it was founded on January 18, 1800 under the Consulate, and then became the property of the French state on January 1ᵉʳ, 1946 when it was nationalized by Charles de Gaulle.
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• Gold bar
  A rectangular bar of pure gold, often in standardized sizes, used as a form of investment.
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• Belle épreuve, or BE: what is a Belle épreuve, or BE?
  This is the highest level of perfection for the conservation of a coin. In fact, a fine proof is a coin with a matt relief and a "mirror" background, the packaging of which is sealed as soon as it is minted.
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• Gold promissory bill
  A gold certificate issued by a financial institution, representing ownership of a specific quantity of gold.
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• Billon: what's a Billon?
  Billon is an alloy used for devalued coins of the same denomination. It is an alloy of silver and copper, of which the latter is most often the majority. With handling, the copper darkens on coins containing less than 25% silver, and is therefore referred to as a black billon.
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• Universal Brilliant, or BU: what is a Universal Brilliant, or BU?
  This is an intermediate level between the BE and circulation coins. Universal brightness refers to coins minted in limited series, retaining their original brightness and bearing new corners.
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• Britannia: what's a Britannia?
  In 1987, the UK minted a gold, silver and platinum coin bearing the name Britannia.
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• Bulletin d'Essai: what is a Bulletin d'Essai?
  A Bulletin d'essai (or certificate) is a document containing the characteristics of the ingot. It contains its purity, number, weight and the name of the smelter/refiner/tester. Characteristics of a Bulletin d'essai (or certificate): Gold ingot number Gold grade in (...)
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• Bullion (often bullion coin): Bullion or Coin?
  Bullion coins have a much higher precious metal content than circulating coins, which is why they are used as metal reserves for hoarding purposes. Bullion is an English term.
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• c
• Grooves: what are grooves?
  Grooves are parallel grooves cut into the edge of coins minted from the 16th century onwards. The purpose of introducing these grooves was to ensure that the coin had not been stored away to recover the precious metal, and with this in mind, the edges (...)
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• Carat: what is the Carat of a jewel?
  The carat is a measure of purity used for precious metals. It is also the unit of mass for gemstones used in jewelry. The value of the carat, applied as a unit of mass, is 0.20 grams of total weight. When used to evaluate the purity of a metal, the carat(...)
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• Certificate: what is a Certificate?
  A certificate (or assay report) is a document containing the characteristics of the ingot. It contains its purity, number, weight and the name of the smelter/refiner/tester.
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• Champ: what's a Champ?
  In numismatics, the field represents the part of the coin left without a design.
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• CMAC
  This is the title of a coin, defining its dimensionless size. The aloi corresponds to the metal composition of a coin, the ratio of a fine metal (gold, silver, nickel, etc.) to the total mass of the alloy.
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• Coin: what is a Coin Coin?
  In numismatics, the coin is usually a metal cylinder, usually made of steel, on which the imprint of a coin is engraved. This engraving is carried out by a master engraver from a matrix.
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• Commemorative: what is a Commemorative Coin?
  A commemorative coin is a coin minted in small quantities to commemorate an event, character or other event. These coins may be circulating or intended solely for collectors. Most commemorative coins date from after 1960, but there are also(...)
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• Countermark: what is a countermark?
  A countermark is a new mark applied to a coin by overprinting. The overprinting of the new mark takes place after the coin has been manufactured. The countermark can be one or more letters, an inscription, a numeral or a symbol.
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• Legal Tender: what is a Legal Tender?
  Legal tender is a currency used to settle a denominated debt. It is a means of payment in the territory issuing the coin.
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• Binding rate: what is a binding rate?
  Liberatory rate refers to currency that is no longer legal tender, but can still be exchanged with new coins at face value.
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• Decime: what is a Decime?
  The decime derives from the Latin decimus for tenth. It refers to a tenth of a franc.
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• Demonetized: what is demonetized?
  Following a decree, a coin loses all its legal power of payment. It then becomes a demonetized coin.
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• Denier: what is a Denier?
  Originally, around 212 BC, the denarius was a Roman coin weighing 4.51 grams of silver. In 140 BC, it was devalued by 0.55 grams. The name denier was taken up again in the Middle Ages, and represents the origin of the Dinar. After the creation of the Germinal franc, the denier (...)
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• Denomination: what is a Denomination?
  In numismatics, the denomination represents the name of the coins on which the monetary system is based by extension, such as pounds, pennies and dinars.
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• Different: what's a Different?
  The creator of a coin design and the general engraver in charge of the mint are called différent. In numismatics, the différent may also designate the mint mark. The different is most often represented by a letter or symbol.
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• Donativum: what is a Donativum?
  The donativum was an exceptional reward given to troops during the Roman Empire when they came to power. On this exceptional occasion, coins could be minted to commemorate the event.
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• Double: what is a Double?
  The double or double denier tournois, also known as double tournois, is an ancient coin issued under the Capetian dynasty towards the end of the 13th century (not to be confused with the antoniniens of Roman times). The double represents the tournois monetary system: (...)
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• Straight (or obverse): what is a Straight (or obverse)?
  In numismatics, the obverse is the side of the coin bearing the main design. In everyday language, it's called the "face". The obverse usually bears a profile, a coat of arms, a strong symbol of the authority minting the coin.
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• Sheldon's Ladder: what is a Sheldon's Ladder?
  The Sheldon scales were created in 1948 by numismatist William Sheldon. Two scales exist, one hierarchizing coin conservation levels over 70 grades and the other indicating coin rarity, graded from R1 to R8, with R1 indicating current rarity(...)
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• ECU: what is an ECU?
  An acronym for the European Currency Uni, ECU stands for the European Unit of Account, used before the Euro. This acronym was unpleasant for Germany because of its phonetic resemblance to the cow word "Kuh".
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• Effigie: what's an Effigie?
  The effigy on a coin is the relief engraving representing a sovereign or political figure. On a coin, the effigy is the main engraving on the obverse.
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• Électrum: what is an Électrum?
  Electrum is an alloy with variable proportions of gold and silver. This alloy was highly prized in Antiquity. Electrum was used to mint coins in Lydia and Greece. The Egyptians used it to decorate jewelry, weapons and funerary objects.
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• Essay: what is an Essay?
  These coins are not intended for circulation. These coins may or may not bear the word TRIAL. These are limited and special mintings, where the coins are intended for trials of all kinds (technical, project, tribute), or even as a gift to (...)
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• Gold Stallion: what is a Gold Stallion?
  The Gold Standard is a monetary system in which money is defined in reference to a fixed weight of gold. Each national currency is freely convertible into gold. To guarantee this convertibility, the quantity of money issued by the central bank is strictly limited (...)
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• ETFs (Exchange Traded Funds): what are ETFs?
  Exchange Traded Funds (ETFs) are index-linked mutual funds listed on the regulated Euronext markets. In France, ETFs are subject to Euronext market rules, AMF supervision and European directives (UCITS). ETFs (...)
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• Exergue: what is an Exergue?
  The space at the bottom of a piece where workshop marks or the vintage are sometimes found on certain antique pieces.
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• f
• Face: what is a coin Face?
  The face of a coin is the common term used to designate the obverse or right side.
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• Fake coin: what is a fake coin?
  Fake coins are non-authentic coins. Many fake antique coins are made to deceive collectors. It's important to distinguish between these and counterfeit coins minted at the time for use.
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• Fleur de coin or FDC: Corner flower or FDC coin challenge?
  The coin is sealed in a transparent case at the time of manufacture to keep it in mint condition. For an FDC coin, only a few scratches during minting are tolerated. No traces of circulation should appear.
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• Féodales: what's a Féodales?
  Feudal is a French or foreign coin that corresponds to the feudal era. In numismatics, feudal coins are very difficult to collect, as there is no regularity in their minting. Until the 13th century, feudal coins were shaped like Carolingian types.
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• Flan: what is a flan?
  A blank is a piece of metal that has been cut and weighed before being struck with a coin.
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• Matte or burnished flan: what is a matte or burnished flan?
  A matte blank is one in which the corners are sandblasted, giving the resulting piece a satin finish. A burnished blank is one that is polished and struck with polished corners, for use by collectors or for official presentations.
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• Fleur de coin, or FDC: what is a Fleur de coin, or FDC?
  See FDC
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• Fleuron: what's a Fleuron?
  A fleuron is an ornamental motif on French royal coins in the shape of a flower with four, five or six petals.
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• Fourrée: what is a Fourrée?
  A fourrée refers to a blank of worthless metal such as bronze or iron covered with gold or silver to mint counterfeit money. Some countries, like Rome, minted their coins in silver-plated bronze.
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• Frai: what is a Frai?
  A spawn is the wear of a coin, resulting in a loss of weight. Spawning is the difference between the original (theoretical) weight of a coin and its actual weight after wear.
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• Frappe: what's a Frappe?
  Minting is the action of using a press to strike the blank between two corners to produce a coin. Several coining technologies exist, including hammer, pendulum, Watt, lever and Pessac presses.
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• Frappe médaille: what is a Frappe médaille?
  A medal strike is said of a coin whose strike axis is 12 o'clock. The two corners are oriented in the same direction when struck.
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• g
• Golden Dollar: what is a Golden Dollar?
  The Golden Dollar is the name given to the 1-dollar coin issued in 2000 by the USA. The Golden Dollar is not made of gold, but its name derives from its golden hue.
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• Grènetis: what's a Grènetis?
  The grenetis is a circle of dots at the periphery of a piece near the list. Sometimes it's between the field and the caption.
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• Guinea: what is a Guinea?
  The Guinea was the first British gold coin to be minted mechanically between 1663 and 1813. Initially, its value was pegged to the pound sterling, then varied according to the price of gold, reaching a value of 21 shillings. The coin's name was a tribute to Guinea, the source of (...)
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• h
• Histamenon: what is a Histamenon?
  Following a monetary reform in the 10th century, the Histamenon was given to the Byzantine solidus. The Histamenon is thinner but wider than its predecessor.
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• i
• Incuse: what is an Incuse?
  The incuse is a very rare type of coin, often found on ancient and archaic Greek coins. It's a mint that allows the obverse to be reproduced in the reserve: the same engraving on both sides, one in relief and the other in relief.
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• j
• Token: what is a Token? Money and Numismatics
  With no releasing power, the token is a coin used as an account or mereau token. Since the Middle Ages, the token has been used as a means of payment. In the 19th century, it became increasingly important as a means of exchange, due to the shortage of small change.
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• Jeu de monnaie: what is a Jeu de monnaie?
  A coin set is a set of coins optimally preserved thanks to a transparent, hermetically sealed packaging containing all the coins minted in a given year.
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• k
• Kopeck: what's a Kopeck?
  The Kopeck corresponds to one hundredth of the Ruble or Hryvnia, Russia's currency unit. The Kopeck is a monetary sub-unit of several countries, but its low legal tender value has earned it the expression "not worth a damn".
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• l
• LBMA (London Bullion Market Association): what is an LBMA?
  The London Bullion Market Association or LBMA is an association of precious metals market professionals, banks and other financial institutions. The LBMA sets and maintains the highest standards for the manufacture of gold bullion and other precious metals.
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• Legend: what's a Legend?
  In numismatic terms, a legend defines any inscription placed on coins, medals and tokens. The legend can be found on the obverse, reverse or edge.
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• Liard: what's a Liard?
  The liard, a low-value coin that first appeared in the 15th century and was attributed to the ancien régime, was officially used in France in 1654. Following the declaration of July 1, 1654, the value of the liard was set at three deniers tournois.
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• Listel: what's a Listel?
  In numismatics, a listel is the protuberance on the obverse and reverse of a coin that forms a circular bead, slightly raised from the relief. The purpose of the listel is to facilitate rolling and stacking, but above all to prevent rapid wear.
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• Book: what is a Pound in Numismatics?
  Based on silver, a pound is a monetary unit that dates back to Byzantine times. The subdivisions and value of the pound vary from country to country and from period to period. Today, the pound is still the national currency of Egypt, the United Kingdom, Sudan, South Sudan, Syria and (...)
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• Louis: what is a Louis d'Or? Louis d'Or coin
  The louis or gold louis was originally used in the Capetian dynasty for the 24-pound coin. The louis was also later used for the 20-franc gold coin. From year 12, the term Napoléon replaced the louis.
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• m
• Maillechort: What is a Maillechort?
  Around 1820, Maillot and Chorier invented a silvery-looking alloy composed of 67% copper, 18% zinc and 15% nickel. Maillechort is also known as argentan or alpaca. This alloy has the advantage of good machinability and weldability. Between 1915 and 1940, nickel silver was(...)
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• Marengo: what's a Marengo?
  In 1820, a 20-franc gold coin was created to commemorate the battle of Marengo, which bears the same name, Marengo.
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• Medal: what's a medal?
  A medal is an object whose shape is reminiscent of a coin, either struck or cast. Medals are most often produced to commemorate a person, an event or a sovereign.
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• Méreau: what's a Méreau?
  The Méreau is most often a token. However, it can also be a leather disc or a parchment. The Méreau is used as a token or sign of recognition. Since the Middle Ages, the Méreau has replaced divisional coinage during shortages of small coins.
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• Millésime: what is a Millésime?
  In numismatics, the vintage refers to the date of issue engraved on coins or medals.
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• Moderne: what is a Moderne currency?
  Modern is a term used to describe coins issued after the French Revolution.
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• Module: what's a Module?
  A coin's modulus refers to its diameter, denomination and weight. The monetary convention of December 23, 1865, allowed the circulation of coins from strange states in the Latin Union, thanks to the same coin module.
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• Monétiforme: what is a Monétiforme?
  The term ponctiforme refers to an object that resembles a coin in shape, appearance or use.
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• Currency: what is a currency?
  Coinage is the term used to define the establishment where coins are minted. This establishment is also known as the Mint.
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• Monnaie ancienne: what is a Monnaie ancienne?
  This term refers to all coins minted between the Carolingian era and the French Revolution.
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• Antique coins: what are antique coins?
  Antique coins refer to all coins issued before the Carolingian era.
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• Necessity money: what is necessity money?
  Necessity coins are coins and banknotes produced to make up for cash shortages during certain periods of crisis. Necessity coins are issued by public or private organizations following endorsement by the authorities.
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• Monneron: what's a Monneron?
  Name of the necessity coin issued by the Monneron brothers during the French Revolution. These coins were made in England, and now have a virtually official status.
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• n
• Napoleon: what is a Napoleon coin?
  In numismatics, the napoleon refers to a 20-franc French gold coin, struck in the effigy of the emperor in 1803 under the Consulate. The napoleon contains 5.805 grams of pure gold.
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• Numismatist: what is a Numismatist?
  A numismatist is a scientist who specializes in the study of coins, or numismatics. Apart from its scientific purpose, numismatics is an invaluable aid to numismatic collectors. Coin collecting has been practiced since Antiquity3. For(...)
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• Standard Numismeter: what is a Standard Numismeter?
  A standard numismatist is a measuring device used between the 19th and 20th centuries to counteract counterfeit 10 and 20 franc coins by weighing them.
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• o
• Medieval obol: what is a medieval obol?
  The medieval obole is the divisional currency of the denarius. As such, the legal tender of the medieval obole follows the denier's fluctuation in weight and value. It is half a denarius.
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• Obsidionale: what is an Obsidionale?
  Obsidionale is a necessity coin also known as a siege coin. It is minted during blockades and sieges.
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• Nordic Gold: what is Nordic Gold?
  Nordic gold or Nordic alloy is an alloy that, despite its name, contains no gold. It consists of 89% copper, 5% zinc, 5% aluminum and 1% tin. Nordic gold is used in some euro coins.
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• Oselle: what's an Oselle?
  The oselle is a coin minted by the ruler of the Republic of Venice (Doge of Venice) to replace gifts in kind (pair of ducks).
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• p
• Patine: what is a Patine?
  A patina is the result of oxidation on the surface of coins, most often bronze or silver. If the patina is even on a coin, its value is significantly increased. The colors of a patina vary, from green to black in(...)
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• Piéfort: what is a Piéfort?
  A piéfort is a coin minted to serve as a model for various workshops. This type of coin is generally double or quadruple the thickness of normal coins. The United Kingdom regularly issues commemorative piéfort coins.
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• Pile: what is a Pile?
  Pile is the term commonly used for lapel.
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• Weight: what is a Weight?
  Weight is a unit of measurement expressed in grams. In numismatics, we can speak of weights or grains, where one grain corresponds to 0.053 grams.
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• Gold hallmark: what is a gold hallmark?
  The gold hallmark is a mark affixed by the jeweler when creating a piece of gold jewelry, or by the manufacturer of gold coins when creating them. Its presence on these gold objects is obligatory, as it is thanks to this gold hallmark that the future buyer will be able to know the carat number.(...)
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• Potin: what's a Potin?
  Potin is an alloy used extensively by the Gallic people in the manufacture of their coins. Potin is composed of copper, tin, lead and other trace metals such as silver. Potin is an alloy used for casting rather than minting coins.
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• Gold Premium: what is a Gold Premium?
  The premium is the difference between the price of the precious metal making up a gold coin (or bullion) and its negotiated price. The premium is set by the market according to supply and demand. The greater the demand for a coin, the higher the premium.
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• Primitive (currency): what is a Primitive (currency)?
  Primitive money refers to any object, monetized or not, that served as a medium of exchange before the appearance of minted blanks.
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• r
• Reformation: what is a Reformation?
  To save the cost of recasting old coins, in 1690 a monetary technique was invented called reformation. This involved using the old blanks to mint the new coins. Reformation made the devaluation of coins physically (...)
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• Refrappage: what is coin refrappage?
  Refrapping consists in minting a new coin on an old one.
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• Reverses: what are coin reverses?
  The reverse in numismatics refers to the side of the coin bearing the main design, as opposed to the obverse. The term pile is commonly used to designate the reverse.
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• Trimming: what is trimming?
  Trimming defines the action of removing small fragments from coins for fraudulent purposes, with the aim of recovering the precious metal.
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• Royale: what's a Royale?
  In numismatics, the term "royal" refers to all coins minted under the monarchy.
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• s
• Gold Seal: what is a Gold Seal?
  A seal (or sealed pouch) is a numbered plastic package that keeps a new ingot (or coins) in its original condition. It also protects it from scratches, which can reduce the ingot's value (lower weight, loss of exchangeability). The seal(...)
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• Seedlings: what are seedlings?
  Worth half an ace, the semis is a standardized sub-multiple of the Roman monetary system. The submissive is an ancient Roman coin.
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• Engraver's signature: what is an engraver's signature?
  In the 17th century, the engraver's signature or mark, represented by a full or abbreviated letter or symbol, appeared on coins.
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• Solidus: what is a Solidus?
  The origin of the term "sou", the solidus, dates back to the 4th century. It was a Roman gold coin of exceptional stability. The solidus was the basis of the monetary system of the Lower Empire and then of the Byzantine Empire.
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• Sou: what's a Sou?
  The sou is a coin from the Ancien Régime, with its roots in the solidus.
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• Sovereign: what is a Sovereign?
  The Sovereign is a gold coin widely used in the past in many countries. The Sovereign is still used in the United Kingdom under the name Sovereign.
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• Spintria: what's a Spintria?
  A Spintria is a token from ancient Rome. It was used as an entrance fee to a lupanar or brothel.
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• Superbe: what's a Superbe?
  In numismatics, the term "superb" designates a state of preservation much sought-after by collectors. The coin has no major bumps or scratches. That said, there is a slight trace of circulation, but the coin is practically new. Superb condition is the best state of(...)
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• Tessère: what's a Tessère?
  A tessera is an ancient token or seal, often made of lead.
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• Test Glossary
   
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• Tirage: What is a Tirage? Numismatics
  The print run is the complete set of copies of a product. In numismatics and coinage, the term "mintage" is used.
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• Titre Or ou Aloi: what is a Titre Or ou Aloi?
  The titre or aloi is a dimensionless quantity that corresponds to the proportion of precious metal (gold and silver) present in a coin, expressed in thousandths or carats.
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• Traces de cheveux: what is a Traces de cheveux?
  In numismatics, horse tracks are numerous tiny parallel lines that generate a slightly iridescent surface. This can be formed by a few microcracks found on the corner to be struck.
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• Tranche: what's a Tranche?
  The edge represents the thickness of the coin. Its peripheral surface may be smooth, grooved or ridged. It may also feature recessed or raised signs or inscriptions.
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• Trémissis: what's a Trémissis?
  The tremissis is the name given to a small coin. It is of Merovingian origin.
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• Triens: what is a Triens?
  The triens, whose plural is trientes, is a Roman coin. It is worth a third of an ace. Other fractions also existed, such as semis, quadrans and sextans.
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• Type: what's a Type?
  The type is a motif used to characterize each side of a coin, for example the Dupré type.
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• u
• Union Latine: what is a Union Latine?
  The Latin Union comprises four European countries: France, Belgium, Switzerland and Italy. It was formed following a Monetary Convention of December 23, 1865. This convention allows the intercirculation of currencies of the same module from each state to the whole union.
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• v
• Velours de frappe: what is Velours de frappe?
  Velvet striking is the result of corner wear. It can also be deliberately produced by sandblasting. After a hundred or so hits, a wedge will develop micro-roundings on its surface. When a wedge strikes, it deposits tiny (...)
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• Vreneli: what's a Vreneli?
  The vraneli is the colloquial name given to a range of legal tender gold coins produced in Switzerland. It is officially known as the "Helvetia head", after its engraver. These coins circulated between 1897 and 1936, as well as in 1947 and(...)
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The definitions were drawn up by the experts at GOLDMARKET, a company specializing in precious metals and investment gold.