Starting out in a new hobby can be quite daunting. Many hobbies can have their own terms and languages that you have never heard before. The same goes for numismatics. Don't worry, we are here to help. We have provided list of commonly used terms by the numismatic community.
Alloy
 Substance composed of two or more metals
American Numismatic Association (ANA)
Nonprofit dedicated to the study of numismatics and hobby of coin collecting
ANACS
American Numismatic Association Certification Service
Annealing
Heating blanks (planchets) to remove or prevent internal stress
Assay
Analyzing to determine the purity of the metal
Bag Marks
A mark on a coin from contact with other coins in a mint bag
Blank
The blank piece of metal on which a coin design is stamped, also known as planchet
Bullion
Ingots, coins, or other issues that trade for their intrinsic metal value
Only precious metals are included as bullion
Business Strike
A coin which was struck for use in general circulation, as opposed to a proof coin produced strictly for collector purposes
CAC
Certified Acceptance Corporation
Cameo (CAM)
A proof, or prooflike coin with exceptional contrast between the fields and the devices. On a cameo coin, the fields are mirrorlike, while the devices give a frosty appearance
Circulated
A term applied to a coin that has wear, ranging from slight rubbing to heavy wear
Clad
A term used to describe any of the modern "sandwich" coins that have layers of both copper and nickel
Commemorative
A special coin or medal issued to honor an outstanding person, place, or event
Condition
The state of preservation of a particular numismatic item
Counterfeit
A coin that is not genuine, a fake
Denomination
The value assigned to a specific coin
Designer
The artist who creates a coin’s design (but doesn’t necessarily engrave the design into a coinage die)
Device Any specific design element
Die
An engraved steel rod that is used to strike a design into a blank piece of metal to make a coin
Edge
The third side of a coin. It may be reeded, ornamented, or plain
Engraver
The person responsible for the design and/or punches used to craft a coin
Error
An improperly produced coin, overlooked in production, and later released into circulation
Field
The flat (or slightly curved) portion of a coin where there is no design
First Strike
A coin struck early in the life of a die
Grade
Rating which indicates how much a coin has worn from circulation
High Relief
A coin with deep concave fields, due to its design
Hub Minting term for the steel device that is used to produce a die.
Incuse
Opposite of relief, the part of a coin’s design that is pressed into the surface
Intrinsic Value (Bullion Value)
Current market value of the precious metal in a coin
Legal Tender
Coins, dollar bills or other currency issued by a government as official money
Legend Any phrase that appears on a coin
Mint
A place where coins of a country are manufactured under government authority
Mint Mark
Letter(s) stamped into a coin to denote the mint at which it was struck
Mint Set
A complete set of coins of each denomination produced by a particular mint
Motto An inscription on a coin
NGC
Numismatic Guaranty Corporation
Numismatics
The study and collecting of things that are used as money
Obverse
The front or "heads" side of a coin
PCGS
Professional Coin Grading Service
Planchet
The blank piece of metal on which a coin design is stamped
Plated
A coin with a thin layer of metal applied
Proof
A specially produced coin made from highly polished planchets and dies and often struck more than once to accent the design
These coins are specifically struck for collectors and investors, not for general circulation
Relief
The portion of a coin’s design that is raised above the surface, opposite of incuse
Reverse
The back or "tails" side of a coin
Rim
The raised area around the edges of the obverse and reverse of a coin
Series
A particular design or motif used over a period of time
Set
A collection of coins in a series
Slab
The plastic holder in which a grading service will encapsulate a coin which has been graded
Strike
The process of stamping a coin blank with a design
The coloring which has formed on the surface of a coin as a result of the metal's interaction with outside elements
Type
A date or group of dates encompassing all of a particular standard design
Uncirculated
A coin or numismatic item that has never been in circulation, a coin without wear
Variety
A minor change from the basic design type of a coin