Glossary of Numismatic Terms

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paper money: Printed monetary instruments. Modern collectors may be challenged for a new term as nations experiment with plastics and other materials for their printed currency.

patina: The surface quality that a coin acquires over time as the metal reacts with the environment.

pattern: Coin-like pieces designed to test proposed coin designs, mottoes or denominations proposed for adoption as a regular issue, struck in the metal to be issued for circulation and that were not adopted, at least in year of pattern issue. Should not be used as a generic term describing experimental pieces and trial pieces.

pieces of eight: Popular term for silver Spanish 8-real coins; often associated with pirate treasure.

piefort: A piece struck on a planchet twice or more the normal thickness, though with the regular designs. The French spelling used in Europe is piedfort.

pioneer gold: Gold coins, often privately produced, struck in areas of the United States to meet the needs of a coin shortage, generally in traditional U.S. denominations. The U.S. Assay Office coins of California official coinage struck before the establishment of the San Francisco Mint are part of the series. Also known as private gold and territorial gold.

planchet, blank: The disc of metal or other material on which the dies of the coin, token or medal are impressed; also called blank, disc, flan. In paper money, a small colored disc embedded in the paper used as an anti-counterfeiting device.

plaster: See model.

plasticene: Synthetic modeling clay.

PNC: Abbreviation of philatelic-numismatic combination (or cover). A combination of a coin, medal, token or other numismatic item inserted into an envelope that is postmarked on a special occasion, such as the release of a new coin or postage stamp. The numismatic item (or numis) is generally visible through a window in the envelope.

postage note: The First Issue fractional note series.

postal note: Forerunner of the postal money order, issued by the U.S. Post Office.

Prestige Proof set: A special U.S. Proof set, commemorating regular Proof coins plus commemorative coins of that year. Offered first in 1983 with 1983-S Olympic silver dollar; also offered in 1984 (with 1984-S Olympic dollar) and 1986 (with 1986-S Immigrant half dollar and 1986-S Ellis Island dollar).

privy mark: Small device used on coinage often commemorative in nature, similar to Mint mark in placement, but not indicative of Mint of origin.

Proof: A coin struck on specially-prepared planchets on special presses to receive the highest quality strike possible, especially for collectors. For paper money, a print made to test the plate, analogous to a die trial strike in coinage.

Proof set: A set of one Proof coin of each current denomination issued by a recognized Mint for a specific year. See Prestige Proof set.

prooflike: An Uncirculated coin having received special minting treatment and a mirror surface for the benefit of collectors, with minor imperfections due to the minting process permissible. Sometimes used as "Proof-like" or "proof-like."

protorim: The slightly raised rim formed on a blank to create a planchet, designed to to help in the formation of the rim on a coin and to facilitate general striking.