Basic Penny Terms

Cent

The official name of the U.S. one-cent coin is the cent. In formal numismatic language, “cent” is the technically correct term.

Penny

Penny is the common everyday word most Americans use for the one-cent coin. Even though “cent” is official, “penny” is still the normal public name.

Numismatics

Numismatics is the study and collecting of coins, paper money, medals, and related objects. If you collect and study pennies, you are part of numismatics.

Denomination

A denomination is the face value of a coin. For a penny, the denomination is one cent.

Legal Tender

Legal tender means a coin is officially recognized as money for payment of debts and transactions.

Parts of a Coin

Obverse

The obverse is the front of the coin, usually the side with the main portrait or principal design. On modern Lincoln cents, Lincoln appears on the obverse.

Reverse

The reverse is the back of the coin. On Lincoln cents, the reverse design changed over time from wheat ears to the Memorial, then Bicentennial reverses, then the Union Shield.

Rim

The rim is the raised outer border of the coin. It helps protect the design from wear and is often important when identifying damage or certain errors.

Edge

The edge is the outer side of the coin between the obverse and reverse. Pennies normally have a plain edge.

Field

The field is the flat background area of the coin around the main design elements.

Device

A device is a raised design element on the coin, such as Lincoln’s portrait, lettering, or a shield.

Mint and Production Terms

Mint Mark

A mint mark is a small letter that shows which mint produced the coin. Common penny mint marks include D for Denver and S for San Francisco. Many earlier Philadelphia cents have no mint mark.

Mintage

Mintage is the number of coins struck for a specific issue, year, mint, or denomination.

Planchet

A planchet is the blank metal disc that becomes a coin when struck by the dies.

Strike

Strike refers to the act of the dies pressing the design into the planchet. It can also describe how fully the design came up on the finished coin.

Strike Quality

Strike quality refers to how sharply and completely the coin was struck. A coin can have weak detail from a soft strike even if it has no wear.

Business Strike

A business strike is a coin made for regular circulation rather than for collectors.

Proof Coin

A proof coin is a specially made coin struck with extra care, usually for collectors, often with sharper detail and more reflective surfaces.

Proof Set

A proof set is a set of proof coins issued together by the Mint.

San Francisco Mint (S)

The San Francisco Mint (S) is one of the U.S. Mint facilities and is especially well known for proof coinage and selected special issues.

Grading Terms

Grade

Grade is the measure of a coin’s condition. It reflects wear, detail, surfaces, eye appeal, and other qualities.

Coin Grading

Coin grading is the process of evaluating a coin’s condition and assigning the proper grade range or number.

Wear

Wear is the loss of detail caused by circulation and handling over time.

Very Good (VG)

Very Good (VG) is a lower circulated grade where the coin shows clear wear but still retains major design outlines and readable lettering.

Very Fine (VF)

Very Fine (VF) is a stronger circulated grade with moderate wear and noticeably better design detail remaining.

Uncirculated

Uncirculated means the coin shows no wear from circulation, though it may still have marks or other Mint State imperfections.

Mint State (MS)

MS (Mint State) is the grading term used for uncirculated coins. These coins have no circulation wear.

Luster

Luster is the original reflective quality seen on a freshly minted coin.

Surface Preservation

Surface preservation refers to how well a coin’s surfaces have survived without marks, corrosion, cleaning, or other damage.

Eye Appeal

Eye appeal is the overall visual attractiveness of a coin. It includes color, brightness, surfaces, strike, and general appearance.

Slab

A slab is a sealed plastic holder used by third-party grading companies to protect and certify a coin.

Color Terms for Cents

Red (RD)

Red (RD) means a copper or bronze cent still shows most of its original mint red color.

Red-Brown (RB)

Red-Brown (RB) means the coin shows a mix of original red color and darker brown toning.

Brown

Brown means the coin has toned mostly or fully to brown.

Toning

Toning is the natural color change that develops on a coin’s surface over time.

Patina

Patina is a surface film or aged appearance that develops over time, often through natural chemical change.

Spotting

Spotting refers to small discolored spots that can appear on a coin’s surface, especially on copper and modern proof coins.

Error and Variety Terms

Error

Error means a mistake that happened during the minting process.

Variety

Variety means a repeatable difference caused by the die itself.

Double Die

Double die describes a die variety created by a misaligned hubbing impression, causing visible doubling on coins struck from that die.

Off-Center Strike

Off-center strike means the coin was struck while the planchet was not properly centered between the dies.

Overdate

Overdate refers to a date variety where one date numeral was struck over another on the die.

Wire Rim

Wire rim describes a thin raised fin of metal along the rim caused by striking pressure or die spacing.

Collecting Terms

Key Date

Key date refers to one of the most important and usually hardest-to-find coins in a series.

Type Coin

Type coin means one representative example of a major design type rather than every date in the series.

Roll Hunting

Roll hunting is the practice of searching bank rolls or boxes of coins for better dates, varieties, errors, or silver.

Wheat Penny

Wheat penny is the common nickname for the Lincoln cent with the wheat ears reverse used from 1909 to 1958.

World Coins

World coins refers to coins from countries other than the United States.

Silver Coin

Silver coin refers to a coin made partly or mostly of silver.

Frequently Asked Questions

Is “penny” or “cent” the correct term?

Both are widely used, but “cent” is the official term for the U.S. one-cent coin. “Penny” is the common everyday name.

What does mint mark mean?

A mint mark is the small letter showing which mint made the coin.

What does MS mean on a coin?

MS stands for Mint State, meaning the coin is uncirculated.

What is the difference between an error and a variety?

An error is a minting mistake, while a variety is a repeatable die difference.

Why do collectors care about Red, Red-Brown, and Brown?

Because color has a major effect on the desirability and value of copper and bronze cents.