margin

The blank area at the border of a note beyond the design or printed information. The width or amount of white space on a bill can affect its value. Generally, National Bank Notes of the 1863 to 1935 era were sent to banks in the form of uncut sheets, to be cut apart at their destination. Sometimes, especially in the 19th century, such cutting was done carelessly, resulting in uneven trimming or cutting into the border or design. The margins on Original Series and Series of 1875 $5 bills were very small, as printed on the plates, and these never have wide top and bottom margins. In contrast, many Legal Tender Notes and Silver Certificates of the 19th century have wide margins all around. There are no general rules.

Martha Washington Note

Numismatic nickname for the $1 Series of 1886 and 1891 Silver Certificates depicting the first of the nation’s first ladies. Synonym: Martha Note.

matrix

The steel tool from which hubs are made. Also called the master die.

matte proof

A Proof coin that exhibits a frosted, rather than mirrored, surface.

Maundy money

Small English silver coins specifically struck for distribution by the reigning monarch on Holy Thursday.

medal

A commemorative display piece made to honor a person, place, or event. Medals are not coins.

medal alignment

Descriptive of a coin whose reverse design is upright in relation to the obverse.

medal, medallion

A coinlike metallic piece, usually commemorative in nature, that bears no denomination and has no legal-tender status.

micro

Very small or microscopic (markings on a coin).

milled

A machine-struck coin, as opposed to a hand-hammered or cast coin.

milled edge

The raised rim around the outer surface of a coin, not to be confused with the reeded or serrated narrow edge of a coin.

minor coin

Any coin of less than crown size, weight, or value, in any metal except gold. In Canada, this comprised the onethrough fifty-cent series until 1987.

mint error

A coin that is misstruck, defective, or damaged during production in the coining press.

mint luster

Shiny “frost” or brilliance on the surface of an Uncirculated or Mint State coin.

Mint set

A set of Uncirculated coins packaged and sold by the Mint. Each set contains one of each of the coins made for circulation at each of the mints that year.

mintmark

A small letter or other mark on a coin, indicating the mint facility at which it was struck.

money of necessity

Emergency coins struck during battle; also called siege pieces.

moneyer

In old England, an authorized mint master or coiner.

motto

An inspirational word or phrase appearing on a coin.

mule

A coin struck from obverse and reverse dies never intended to be paired.