A thin piece of metal that has nearly become detached from the surface of a coin. If this breaks off, an irregular hole or planchet flaw is left.
large cent
A large copper U.S. coin, one-hundredth of a dollar, issued from 1793 until 1857, when it was replaced by a much smaller cent made from a copper-nickel alloy. The value of copper in a large cent had risen to more than one cent, requiring the reduction in weight.
large date
Term referring to the size of the digits of the date on a coin. (Use of this term implies that a medium or small date exists for that coin or series.)
Large Eagle
Alternate form of Heraldic Eagle.
large letters
Term referring to the size of the lettering of the date on a coin. (Use of this term implies that medium or small letters exist for that coin or series.)
Large Motto
– Common short name for the particular variety of two-cent coin of 1864 with large letters in the motto. The inscription “IN GOD WE TRUST” was first used on the two-cent coinage of 1864. Congress mandated this inscription for all coinage and it has been used on nearly every coin since that time.
large size
A term referring to the particular diameter of a coin in a series. (Use of this term implies that there is a small size or diameter with the same motif. Examples are the Large and Small size Capped Bust quarters.)
LD
Short for large date.
Legal Tender
Coins and currency issued by the government as official money that can be used to pay legal debts and obligations.
legend
A phrase that appears on a coin – for instance, UNITED STATES OF AMERICA.
lettered edge
A coin edge that displays an inscription or other design elements, rather than being reeded or plain. The lettering can be either incuse (recessed below the surface) or raised. Incuse lettering is applied before a coin is struck; the Mint did this with a device called the Castaing machine. Raised lettering is found on coins struck with segmented collars; the lettering is raised during the minting process, and when the coin is ejected from the dies, the collar "falls" apart, preventing the lettering from being sheared away.
lettering
The alphabet characters used in creating legends, mottoes, and other inscriptions on a coin, whether on the obverse, reverse, or edge.
Lib
Slang for Liberty Head. (i.e. a twenty Lib, a Ten Lib, etc.)
Libertas Americana Medal
A medal created as thanks from the young United States of America to France in 1782. Designed by Benjamin Franklin and engraved by Augustin Dupré.
Liberty
The symbolic figure used in many U.S. coin designs.
Liberty Cap
A type of Large Cent and Half Cent minted in Philadelphia in the late 18th Century. The obverse design features an image of Liberty with a pole behind her. Atop the pole is a Phrygian cap (also known as a freedman’s cap), a soft red wool cap worn on the head, bent forward. This cap symbolized the pursuit of freedom in Europe from the late 1500s onward. The cap is often seen on Liberty’s head or on a pole.
Liberty Head
The design used on most U.S. gold coins from 1838 until 1908. This design was first employed by Christian Gobrecht, with later modifications by Robert Ball Hughes and James Longacre. Morgan dollars and Barber coinage sometimes are referred to as Liberty Head coins.
Liberty nickel
Short for Liberty Head or “V” nickel struck from 1883 until 1912. (The coins dated 1913 were clandestinely struck and are not regular issues.)
Liberty Seated
The motif designed by Christian Gobrecht first used on the Gobrecht dollars of 1836-1839 featuring Miss Liberty seated on a rock. This design was used on nearly all regular issue silver coinage from 1837 until 1891. (1838-1891 for quarters, 1839-1891 for half dollars, and 1840-1873 for dollars.)
light line
The band of light seen on photographs of coins, especially Proofs. This band also is seen when a coin is examined under a light.
Lincoln
Slang for a Lincoln Head cent.
Lincoln cent
The Victor D. Brenner designed cent first struck in 1909 and continuing until today although the reverse was changed in 1959 to the Memorial Reverse. These were struck in bronze until 1982, except for 1943 when they were issued in steel with a zinc coating and 1945-1945 when melted shell casings were employed to produce planchets. Currently, the Lincoln cent is struck on planchets composed of a zinc core and a 5% copper coating.
Lincoln penny
Slang for Lincoln Head cent.
liner
A coin that is on the cusp between two different grades. A 4/5 liner is a coin that is either a high-end MS/PR-64 or a minimum-standard MS/PR-65.
lint mark
A repeating depression on a coin, usually thin and curly, caused by a thread that adhered to a die during the coin's production. Lint marks are found primarily on Proofs. After dies are polished, they are wiped with a cloth, and these sometimes leave tiny threads.
LL
Short for large letters.
Long Beach
Short for the Long Beach Coin and Stamp Exhibition held in Long Beach, California. This show is held three times a year, usually in February, June, and October. These are among the most popular commercial exhibitions each year.
lot
The unique number assigned by the auction house to an item(s) to be sold in a particular sale. (i.e. The 1858 Seated dollar was lot 455 of the FUN 1999 sale.)
loupe
A magnifying glass used to examine coins. Loupes are found in varying strengths or "powers".
luster
In numismatics, the amount and strength of light reflected from a coin’s surface or its original mint bloom. Luster is the result of light reflecting on the flow lines, whether visible or not.
lustre
Alternate form of luster.
lustrous
A term used to describe coins that still have original mint bloom.