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Columbia Encyclopedia entry: coin
Coin, piece of metal, usually a disk of gold, silver, nickel, bronze, copper, aluminum, or a combination of such metals, stamped by authority of a government as a guarantee of its real or exchange value and used as money. Coinage was probably invented independently in Lydia or in the Aegean Islands and in China before 700 B.C. The earliest known example is an electrum coin (c.700 B.C.) of Lydia. The first U.S. mint was established in 1792. Mottoes used on many U.S. coins are E Pluribus Unum (1795) and In God We Trust (1864). Early coins were die-struck by hand and showed many individual variations. Standardized coins date from the use of a mill and screw machine (invented c.1561). Coins are usually stamped from rolled metal blanks, then milled. The final product bears a design impressed upon it between the upper and lower dies of a coining press. Milled or lettered edges have been used since the 17th cent. to discourage the removal of slivers of metal, especially from gold or silver coins. No gold coins have circulated in the United States since 1934, when the domestic gold standard was abandoned. Until 1965, silver was used in the minting of dimes and quarters, but by the 1980s silver had disappeared from American coinage altogether. In the mid-1990s, the European Union developed a common currency for its members. The new currency, called the euro, was inaugurated in 1999; coins and notes went into circulation in 2002, replacing the currencies of most EU members (see European Monetary System). Canada introduced the first colored coin for circulation in 2004; it was a quarter featuring a poppy. See also numismatics.
Wikipedia search results for: Coin
From Wikipedia, the free encyclopedia
A coin is a piece of hard material that is standardized in weight, it is produced in large quantities in order to facilitate exchange, and primarily and above all has the mark of the authority that produces it. Coins are usually metal or a metallic material and sometimes made of synthetic materials, usually in the shape of a disc, and most often issued by a government. Coins are used as a form of money in transactions of various kinds, from the everyday circulation coins to the storage of large numbers of bullion coins. In the present day, coins and banknotes make up the cash forms of all modern money systems. Coins made for paying bills and are...more »
Columbia Encyclopedia search results: coin
Results 1 - 10  of 163
  • numismatics

    Numismatics, collection and study of coins, medals, and related objects as works of art and as sources of information. The coin and the medal preserve old forms of writing, portraits of eminen...

  • die

    Die, any of various devices used for drawing wire, and for blanking, bending, cutting, machine forging, and embossing. Dies used for striking, or stamping, coins and medals are cut in intaglio...

  • white-collar crime

    White-collar crime, term coined by Edward Sutherland for nonviolent crimes committed by corporations or individuals such as office workers or sales personnel (see white-collar workers) in the ...

  • E Pluribus Unum

    E Pluribus Unum [Lat.,=one made out of many], motto on the Great Seal of the United States and on many U.S. coins. Although selected in 1776 by Benjamin Franklin, John Adams, and Thomas Jeffer...

  • Evans, Sir John

    Evans, Sir John, 1823–1908, English archaeologist, geologist, and numismatist. A president of the Royal Numismatic Society and of the Society of Antiquaries, he was active also in public welfa...

  • cybernetics

    Cybernetics [Gr.,=steersman], term coined by American mathematician Norbert Wiener to refer to the general analysis of control systems and communication systems in living organisms and machine...

  • folkways

    Folkways, term coined by William Graham Sumner in his treatise Folkways (1906) to denote those group habits that are common to a society or culture and are usually called customs. The word pro...

  • prehistory

    Prehistory, period of human evolution before writing was invented and records kept. The term was coined by Daniel Wilson in 1851. It is followed by protohistory, the period for which we have s...

  • fiat money

    Fiat money, inconvertible money that is made legal tender by the decree, or fiat, of the government but that is not covered by a specie reserve. It is commonly understood to be of paper, altho...

  • counterfeiting

    Counterfeiting, manufacturing spurious coins, paper money, or evidences of governmental obligation (e.g., bonds) in the semblance of the true. There must be sufficient resemblance to the genui...

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