Introduction to Coins

What is coin..?

A coin is a small, flat, round piece of metal or plastic used primarily as a medium of exchange or legal tender. They are standardized in weight, and produced in large quantities at a mint in order to facilitate trade. They are most often issued by a government. Indian coins are issued by Reserve Bank of India (RBI).

Anatomy of a coin

Obverse : It is head side of the coin. It usually depicts portrait of a ruler or monarch or emblem of the country.

Reverse : It is tail side of the coin. It depicts denomination, year of issue and mint of the coin.

Legend : It is also known as 'Inscription'. It contains country name, issue authority, event or individual commemoration.

Portrait : Portraits of leaders and monarch.

Field : Any flat area of the coin that hasn't been raised off of the coin during minting.

Relief : The portion the coin that has been raised during minting.

Rim : Upraised part of the coin that runs all the way around the edge of the coin on both sides.

Mint mark : Mark that defines the mint where the coin was produced.

Date : Date on the coin represents the year of minting.

Edge : Outer border of the coin which runs entire circumference of the coin.

Shape : Shape of the coin. It may be circular, square, hexagon etc.

Coin Grade

Grade is completely depends on condition of the coin. Grading vary according to various grading institutions. But the general grading system is mentioned as follows.

Poor : Coins with least visibility of inscription, date illegible, dented, worn due to high circulation.

Fair : Coins with legible date and denomination, recognizable type.

Fine (F) : Coins in this type has lot of wear, but legends and design still distinguishable.

Very Fine (VF) : Coins with design and legends clear but slight evidence of wear or damage.

Extremely fine (XF) : Coins with design and legends clear. No evidence of wear or damage.

Uncirculated (UNC) : Coins that are not circulated in public. These coins have high value.