Coin Lingo information on Rare Coins

P

P-Mint
Term applied to the coins struck at the main Mint in Philadelphia, Pennsylvania.
Pan-Pac
Short for Panama-Pacific Exhibition.
Pan-Pac slug
Slang for either of the 1915-dated Panama-Pacific fifty-dollar commemorative coins, the octagonal or the round.
Panama-Pacific Exhibition
A 1915 exhibition held in San Francisco, California to celebrate the completion of the Panama Canal.
patina
Synonym for toning.
pattern
A test striking of a coin produced to demonstrate a proposed design, size, or composition (whether adopted or not). Patterns often are made in metals other than the one proposed; examples of this include aluminum and copper patterns of the silver Trade dollar. Off-metal strikes such as this also are referred to as die trials of a pattern.
PCGS
Short for “Professional Coin Grading Service”.
PCGS Population Report
Monthly publication by PCGS listing the number of coins graded and their grade. Totals are for coins graded by PCGS since its inception in 1986.
Peace dollar
Common name for the silver dollar struck from 1921 to 1935. Designed by Anthony Francisci to commemorate the peace following World War I, the first year featured another coin designated High Relief. In 1922, the relief was lowered resulting in the Regular Relief type that continued until 1935.
pedigree
A listing of a coin’s current owner plus all known previous owners.
penny
In American numismatics, slang for a one-cent coin.
peripheral toning
Light, medium, or dark coloring around the edge of a coin.
Philadelphia
The mother Mint, located in Philadelphia, Pennsylvania. First established in 1792, the Philadelphia Mint has occupied 4 different locations, currently, it is in Independence Square.
PL
Short for prooflike.
plain edge
A flat, smooth edge seen mainly on a small-denomination coinage.
planchet defects
Any of the various abnormalities found on coin blanks. These include drift marks, laminations, clips, and so forth.
planchet flaw
An irregular hole in a coin blank, sometimes the result of a lamination that has broken away.
planchet striations
Fine, incuse lines found on some Proof coins, though rarely on business strikes, usually the result of polishing blanks to impart mirrorlike surfaces prior to striking.
polished die
A die that has been basined to remove clash marks or other die injury. In a positive sense, Proof dies were basined to impart mirrorlike surfaces, resulting in coins with reflective field
Pop Report
Short for “PCGS Population Report.”
PQ
Short for premium quality.
PR
Short for Proof.
premium quality
A term applied to coins that are the best examples within a particular grade.
pristine
A term applied to coins in original, unimpaired condition. These coins typically are graded MS/PR-67 and higher.
Proof
A coin usually struck from a specially prepared coin die on a specially prepared planchet. Proofs are usually given more than one blow from the dies and are usually struck with presses operating at slower speeds and higher striking pressure. Because of this extra care, Proofs usually exhibit much sharper detail than regular, or business, strikes. PCGS recognizes Proofs (PR) as those struck in 1817 and later. Those coins struck prior to 1817 are recognized as Specimen strikes (SP).
Proof set
A coin set containing Proof issues from particular year. A few sets contain anomalies such as the 1804 dollar and eagle in 1834 presentation Proof sets.
Proof-only issue
A coin struck only in Proof, with no business-strike counterpart.
Prooflike
Term to designate a coin that has mirror-like surfaces, the term especially applicable to Morgan dollars. Those Morgan dollars that meet PCGS prooflike standards are designated PL.