AY Honors/Currency (Template)/Answer Key

4. Define the following terms:

a. Alloy

An alloy is a combination of two or more elements, at least one of which is a metal, and where the resulting material has metallic properties. The resulting metallic substance usually has different properties (sometimes significantly different) from those of its components. Nearly all coins are made of alloys.

b. Altered Date

c. Buffed Coins

A buffed coin is one that's been polished to make it look like an uncirculated or proof coin. Buffing a coin wears down its original surface, reducing its value.

d. Cast Coins

Coins which are made by pouring a molten alloy into a mold.

e. Clad Coinage

Coins made of layers, like a metal sandwich.

f. Commemorative

Commemorative coins are legally issued coins with a design intended to commemorate or draw attention to some event or person. They are so called to distinguish them from regular issue coinage.

g. Die

An engraved tool used for stamping a design onto a coin.

h. Field

The field is the background—the part of the coin that shows no picture or words.

i. Inscription

An inscription is any letter, word, or phrase pressed into the surface of a coin.

j. Lettered Edge

A coins having letters written on its edge.

k. Mint Mark

The mint mark is a small letter that tells which mint branch struck the coin.

l. Obverse

The front side of currency or a coin (often called "heads" on a coin).

m. Planchet

A blank disc of metal from which a coin is made.

n. Proof

Proof coins use a special process that gives them a shiny, mirror-like background and a "frosted" relief. Proof sets are made every year for all of our circulating coins. Like uncirculated coins, proof coins are not meant to be spent.

o. Reeded Edge

The reeded edges still found on many coins (always those that were once made of gold or silver, even if not so now) were originally designed to show that none of the valuable metal had been shaved off the coin. These show up as ridges along the edge of the coin.

p. Reverse

The back side of currency or a coin (often called "tails" on a coin).

q. Series

A set of coins of the same denomination but with different designs introduced on a regular basis. The series will have a unifying theme.

r. Type

A coin design that does not change from year to year (except for the date mark).

s. Whizzed Coins

A whizzed coin has been wire brushed or burnished, often on a wheel, for the same reason. Whizzing a coin wears down its original surface, reducing its value.

t. Wire Edge

When a coin is made, the blank is placed inside a collar and the coin is struck with a die. Sometimes a very thin piece of metal from the blank will flow out between the collar and the die. This is called the wire edge.

5. Describe the obverse and reverse for paper money of the six lowest denominations currently in use in your country.

<! fill in these templates as appropriate for your country>

[[Image:|thumb|300px|Obverse side, featuring ]]	[[Image:|thumb|300px|Reverse side, featuring ]]

[[Image:|thumb|300px|Obverse side, featuring ]]	[[Image:|thumb|300px|Reverse side, featuring ]]

[[Image:|thumb|300px|Obverse side, featuring ]]	[[Image:|thumb|300px|Reverse side, featuring ]]

[[Image:|thumb|300px|Obverse side, featuring ]]	[[Image:|thumb|300px|Reverse side, featuring ]]

[[Image:|thumb|300px|Obverse side, featuring ]]	[[Image:|thumb|300px|Reverse side, featuring ]]

[[Image:|thumb|300px|Obverse side, featuring ]]	[[Image:|thumb|300px|Reverse side, featuring ]]

6. Know how coins are graded in quality by collectors.

• Uncirculated (abbreviated "unc"). Such a coin looks as new as the day it was minted—"minty fresh," if you will. This one shows not even the slightest sign of wear or contact.
• Extremely Fine (EF) or About Uncirculated. This coin is almost perfect except for slight wear or flaws.
• Very Fine (VF). It's easy to see that this coin has been used because the highest points are slightly flattened...but the rest of the details are fine and there are no nicks or scratches.
• Fine (F). A coin in Fine condition is pretty worn and flattened. But even though there may be minor nicks and blemishes, the details are still clear and its general look is pleasing.
• Very Good (VG). This coin is quite worn and the rim is flat, although the words are still readable.
• Good (G). You can make out the main design and lettering on this one, but it's so worn and scratched that it's not very collectible—unless you can't find anything better.
• Uncurrent. This is not a grading term, but it describes a coin that's so badly worn that it weighs less than it should. You can tell what it is and it still works in machines, but merchants and banks may not take it. Federal Reserve banks and branches will redeem it for a better coin.
• Mutilated. These coins are not just worn out but are bent, broken, stuck together, or incomplete.

8. Do two of the following:

d. Collect and mount a date set of series of coins for your country beginning with your birth year. (Commemorative, gold, proof, expensive, or rare coins need not be included.)

Note: Facts About United States Money (free), Office of the Secretary of the Treasury, U.S. Treasury Department, Washington, D.C. 20025. Facts about your country's currency may be obtained from the government treasury department.

References

• http://www.usmint.gov/kids/campCoin/collectorsWorkshop/
• http://www.pcgs.com/lingo.chtml