Coin Collecting A to Z

Coin Collecting Terms - Letter N

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National bank note - Paper money issued in United States by national banks from 1863 through 1929 and secured by government bonds or other collateral. Also called national currency.

National Coin Week - An annual observance sponsored by American Numismatic Association to acquaint the public with the hobby and science of numismatics.

National gold bank note - National bank notes payable in gold coin by some California banks and one Boston bank pursuant to authorization by Act of July 12, 1870.

Natural toning - Coloration resulting from chemical change on the surface during normal environmental exposure over a prolonged period.

NCLT - Short for Non-Circulating Legal Tender. Refers to a legal tender coin that has a face value but does not circulate. Two examples in US coinage are commemoratives, particularly those issued 1982 and later, and bullion coins.

Net Grading - Refers to a compromising method of grading a coin. For example, if a particular silver dollar's obverse grades MS65 but it's reverse only warrants a grade of MS63, then the dealer / grader might label the coin MS64. It may also refer to a coin which might otherwise grade MS65 but has been cleaned so it is "net-graded" MS62.

Net price - A term signifying that the seller is unwilling to sell for less than the price marked.

New - Term for a coin that never has been in circulation.

New Orleans - The branch Mint established in 1838 in New Orleans, Louisiana. It struck coins for the United States until its seizure in 1861 by the Confederacy. (Some 1861-O half-dollars were struck after the seizure.) It reopened in 1879 and struck coins until 1909 (actually closed in 1910). Now this facility is a museum.

Newps - Slang for new purchases. Dealers or collectors always looking for fresh deal at a coin show will often ask, "do you have any newps that I can see"?

NGC - Acronym for Numismatic Guaranty Corporation, located in Parsippany, NJ. Currently one of the leading coin grading services.

NGC Census Report - Quarterly publication issued by NGC listing the number of coins graded and their grade.

Nick - A small mark on a coin usually caused by contact with a another coin.

Nickel - A silver-white metal widely used for coinage, usually alloyed with copper; Popular term for a five-cent piece.

No “CENTS” nickel - Liberty Head nickels struck in 1883 without a denomination. The lack of a denomination was very confusing to the public and led to the “racketeer” nickel scandal.

No Arrows - Term applied to coins without arrows by their dates during years when other coins had arrows by the date.

No Motto - Coins struck without the motto, “IN GOD WE TRUST”.

No Stars - Term referring to the Gobrecht-designed Liberty Seated coins without stars. Also refers to Capped Bust Quarter Eagles of 1796.

No-grade - Term applied to a coin returned from a third-party grading service that was not encapsulated. This can be due to questionable authenticity, cleaning, damage, or other reasons.

Noltgeld - Emergency money, including coins and paper. Usually, that issued by Germany during the World War I inflationary period.

Numerical grading - The Sheldon 1-70 scale employed by NGC, PCGS, and other third-party grading services.

Numismatics - The art and science relating to the study of coins, tokens, medals, paper money and similar objects.

Numismatist - A person who is knowledgeable in the history and collecting of rare coins, tokens, medals, paper money and similar objects. A dealer in rare coins would be considered a professional numismatist.

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