Definitions of terms

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Following are the definitions of the most common terms used in the hobby of foreign money collecting:

Bank note, Banknote
A formal name for a currency bill.

Catalog
A publication, usually illustrated, listing all the different known types of currency from a country, a region or the World. A catalog is used mainly for identifying and classifying bills. Note: Catalog pricing is for general reference only. Actual values of bills are determined by availability, current market conditions, and many other factors, and are subject to change at any time.

Commemorative issue
A bill designed in honor of an event or person, with a date, text or serial number of special significance.

Counterfeit
An illegal reproduction of a current or obsolete bill, made for fraudulent use or with the intent to deceive.

Current issue
A bill which is still valid for the payment of goods, services or taxes in a country or region.

Denomination
The monetary value and currency unit printed on a bill. Examples: one dollar, five pounds, ten francs, 1,000 yen.

Emergency issue
A type of bill created and released into circulation under austere conditions.

Face value
The monetary value of a bill which is prominently printed on the front and back.

Foxing
High-humidity stains. On a bill, they usually appear as spots of dark yellow, light brown or dark brown.

Glassine envelope
An envelope made of a thin semi-transparent material, used to house paper collectibles such as currency, stamps, postcards, etc.

Holder
A clear sleeve used to keep a bill in.

Japanese Invasion Money
Bills printed by Japanese military occupation forces during World War II. They were made for use in Burma, Dutch New Guinea, Malaya and the Philippines. Commonly referred to as JIM.

Military Payment Certificate
Special type of currency used in military bases and canteens, valid only for transactions among authorized personnel. Also referred to as MPC.

Note
Abbreviation of the word "banknote" (a bill).

Numismatics
The study of money.

Obsolete notes
Bills that have been withdrawn for circulation by the issuing entity. Such bills are no longer valid for use as payment for goods, services or taxes. Obsolete notes are almost always highly collectable.

Outmoded currency
See obsolete notes.

Paper money
Currency printed on paper, polymer or Tyvek(R).

Pick catalog
The "Standard Catalog of World Paper Money", which is one of the hobby's most commonly used reference guides. It was created mainly to help identify and classify bills.

Pick number
A bill's designation on the "Standard Catalog of World Paper Money". Pick numbers begin with a capital letter P, followed by a hyphen, and by either a number or a combination of letters and numbers.

Polymer
A patented film material used to print money on. The resulting bills look like regular bills, but they feel different to the touch.

Specimen
Sample bills used to educate the public about a new issue of money. They often have overprints, perforations, and/or serial numbers composed of all zeros.

Unc
Pronounced "ongk". See uncirculated.

Uncirculated
A perfectly preserved bill, never folded, and never mishandled by a bank teller, the public, or a collector. An uncirculated bill has four straight, square and clean corners, without any evidence of wear or rounding.

Watermark
A design or image visible when a bill is held against a light. A watermark is a security device to help detect counterfeiting.


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