Glossary of Numismatic Terms

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face: The front of a currency note, generally the side with signatures; analogous to the obverse of a coin.

face value: Refers to the value of a piece of currency; the denomination multiple that appears on the note or coin.

fantasy: An object having the physical characteristics of a coin, issued by an agency other than a governing authority yet purporting to be issued by a real or imaginary governing authority as a coin.

Federal Reserve Bank note: A form of U.S. paper money authorized by the Federal Reserve Acts of Dec. 23, 1913, and April 23, 1918, and by the Act of March 9, 1933. The obligation to pay was by the individual issuing bank, not the federal government or other Federal Reserve Banks. The 1933 notes were an emergency issue to alleviate a shortage of paper money. Not to be confused with Federal Reserve notes. See also bank note.

Federal Reserve note: A form of U.S. paper money authorized by the Federal Reserve Act of February 1913. The obligation to pay is on the United States government and not the issuing banks. This is the only form of paper money currently being printed in the United States.

fiat money: "Unbacked" currency, that which cannot be converted into coin or specie of equal value.

field: The flat part of a surface of a coin surrounding and between the head, legend or other designs.

fineness: Represents the purity of precious metal, either in monetary or bullion form. Some forms of precious metal require an additional metal to provide a durable alloy. Often stated in terms of purity per 1,000 parts: A .925 fine silver coin has 92.5 percent silver and 7.5 percent other metal; a .9999 fine gold coin is, essentially, pure gold, with only the slightest impurities present.

fixed-price list: A price list or catalog of coins, exonumia, paper money or other numismatic items offered at set prices.

flan: See planchet.

flip: A coin holder, usually plastic, that has two pouches, one to hold a coin and the other to hold identification. It is folded over, or "flipped," to close.

flow lines: Microscopic striations in a coin's surface caused by the movement of metal under striking pressures.

follis: A Roman and Byzantine coin denomination; plural is folli.

fractional: Referring to bullion coins, those of less that 1 ounce.

fractional currency: Usually refers to the United States paper money issued from 1862 to 1876 in denominations from 3 to 50 cents. See also currency.

frost: Effect caused by striking a coin with sandblasted dies, often used in reference to Proof coins.