In our latest blog series, we take you through the world of numismatics one letter at a time, bringing you the coin terms, history and facts which make coin collecting a fascinating pastime. This time, we look at the letters P to T.
P is for Press
Probably the single greatest change in the manufacture of coins throughout history, was the introduction of the minting press.
Today’s modern presses can create around 850 coins per minute, with a pressure of some 60 tonnes applied to create each one.
Despite today’s processes being far more economical and time efficient than in years gone by, the same basic methods as years gone by apply, with the use of one working die for the obverse and another for the reverse, together with a circular piece of hardened steel known as a collar which forms the coin’s edge.
Q is for Quality
There is an annual ceremony, dating back to the reign of Charles I, which is held at the Hall of the Worshipful Company of Goldsmiths in London. In attendance are the Chancellor of the Exchequer, or appointed representative, along with financial leaders, representatives of The Royal Mint and freemen of The Goldsmiths’ Company. They come together with one purpose; to assess the quality of newly minted British coinage.
This ceremony is known as the Trial of the Pyx. Pyx comes from the Latin word Pyxus, which means “small box” and refers to the wooden boxes that the coins to be tested are carried in. You can read our previous blog on this ceremony HERE.
R is for Rampant
Rampant is a heraldic term for a beast shown in profile, standing erect with forepaws raised, ready to strike. The beast can be pictured on both hind legs or just one with the other raised to attack.
One such beast is the Lion Rampant, which appeared on the reverse of the 1994 British One Pound Coin, and also shows on the reverse of the latest British two pence piece in circulation, designed by Matt Dent. It forms part of the shield of the Royal coat of arms. The shield appears in full when you bring the seven current British coins in circulation together, with a different part of the shield showing on the reverse of each.
S is for Slabbed
Slabbed refers to a coin which is encased inside a hard, plastic, tamper-proof case, after being certified and graded by an independent third-party company. This way of presenting coins was introduced by the Professional Coin Grading Service (PCGS) in 1986.
The slab is made of two pieces of formed plastic, which when brought together have a circular recess to enclose the coin and a rectangular recess above to hold the coins certificate.
T is for Truncation
Truncation refers to the sharply cut off bottom edge of a portrait on the obverse of a coin. The truncation of the portrait of Queen Elizabeth II has varied throughout her coin portraiture.
On the first sovereign of the Queen’s reign in 1957, which you can see HERE, the truncation follows the curve of the coin and her shoulders are visible. This was also the case on the second portrait of Her Majesty, by Arnold Machin.
In 1985 however, the truncation changed considerably, with the portrait by Raphael Maklouf being cut off higher up the neck. It has remained similar to this ever since.
In our final blog in this series, we will explore the letters U to Z.