Glossary of Stamp, Coin & Auction Terms

A comprehensive reference guide to philately, numismatics, and auction terminology. Use this glossary to understand key terms used across stamp collecting, coin collecting, and auctions.

A

Album

A book used to organize and display stamp collections.

Absentee Bid

A bid placed before the auction by someone unable to attend live.

Appraisal

A professional assessment of an item’s value.

After Sale

The opportunity to purchase unsold lots after the main auction ends.

B

Block

A group of four or more connected stamps.

Booklet

A small bound collection of stamps sold for convenience.

Bullion

Coins or precious metals valued primarily for their metal content.

C

Commemorative

A stamp issued to celebrate a person, event or anniversary.

Coil Stamp

A stamp issued in long rolls for vending machines or bulk use.

Cancellation

A postal marking applied to prevent a stamp from being reused.

Cachet

A printed or illustrated design added to a cover for commemorative purposes.

Clipping

The illegal removal of small amounts of precious metal from a coin’s edge.

Consignment

Items entrusted to an auction house for sale.

Catalogue

A detailed listing of auction lots including descriptions and estimates.

D

Definitive

A regularly issued stamp intended for everyday postal use over a long period.

Die Crack

A raised line on a coin caused by a crack in the minting die.

E

Error

A major production mistake that creates a collectible variation.

Engraving

A printing process where the design is carved into metal for detailed impressions.

F

First Day Cover

An envelope cancelled on the first official day a stamp was issued.

Forgery

A fake stamp or overprint intended to deceive collectors.

Facsimile

A reproduction stamp not intended to deceive collectors.

G

Gum

The adhesive coating applied to the back of a stamp.

H

Hinged

A stamp mounted with a hinge, often leaving a small mark on the gum.

Hammered Coin

An early coin struck manually using dies and a hammer.

Hammer Price

The winning bid amount before fees and taxes are added.

I

Imperforate

A stamp issued without perforations and requiring cutting from a sheet.

Invert

A stamp with part of the design printed upside down.

L

Lithography

A printing process using flat surfaces and chemical treatments.

Lot

An item or group of items offered together in an auction.

Live Auction

An auction conducted in real time with active bidding.

M

Mint

A stamp in unused condition, often retaining its original gum.

Mount

A protective transparent holder used to display stamps safely.

Mint Mark

A small symbol or letter indicating where a coin was produced.

Milled Coin

A machine-struck coin with more consistent design and edges.

N

Never Hinged

A stamp that has never been mounted and retains undisturbed original gum.

Numismatics

The study and collection of coins, banknotes and related currency.

O

Original Gum

The stamp’s original adhesive layer as issued by the postal authority.

Overprint

Additional text or design printed onto an existing stamp.

Obverse

The front side of a coin, often featuring a portrait or monarch.

P

Philately

The study and collection of postage stamps, postal stationery and related postal history.

Perforation

The rows of holes punched between stamps to make separation easier.

Pane

A smaller division of a larger sheet of stamps.

Postmark

An official postal marking showing date and location of mailing.

Postal History

The study of postal systems, routes, rates and historical mail usage.

Photogravure

A photographic printing method commonly used for detailed stamp production.

Proof Coin

A specially struck coin with a highly polished finish intended for collectors.

Patina

A natural surface aging or toning that develops on coins over time.

Planchet

A blank metal disc prepared for coin striking.

Provenance

The ownership history of an item, often important for authenticity and value.

R

Reverse

The back side of a coin, typically showing a design or denomination.

Reserve Price

The confidential minimum price a seller is willing to accept.

S

Sheet

A complete unseparated page of stamps as issued by a postal authority.

Selvage

The margin or border surrounding a sheet or pane of stamps.

Souvenir Sheet

A small decorative sheet containing one or more commemorative stamps.

Specimen

A sample stamp marked to prevent postal usage.

Stockbook

A book with strips or pockets used to temporarily store stamps.

Slabbed

A coin sealed within a protective graded holder by a certification company.

Strike

The impression made when a coin blank is stamped by dies.

T

Typography

A printing process where raised surfaces transfer ink onto paper.

Tongs

Special tweezers used to handle stamps without damaging them.

Token

A privately issued coin-like object often used for trade or advertising.

Telephone Bid

A live bid placed remotely through an auction house representative.

Timed Auction

An online auction running for a fixed period before closing automatically.

U

Used

A stamp that has been postally used and usually bears a cancellation mark.

Uncirculated

A coin that has never been used in general circulation and retains sharp detail.

Unsold

An auction lot that failed to reach its reserve price.

V

Variety

A minor variation such as color, perforation or printing differences.

W

Watermark

A design embedded into stamp paper to help prevent counterfeiting.