Glossary of Numismatics - L

L

Laureate

Head crowned with a laurel wreath. The American Barber coins from 1892 to 1915 and the first portrait of Queen Elizabeth II used in Great Britain from 1953 to 1967 are examples.

Legal Tender

Coins or currency which must be accepted in payment of debt.

Legend

Principal inscription on a coin.

Lettered Edge

The outside edge of a coin containing an inscription.

Low Relief

A coin with the raised design not very high above the field.

Luster

Appearance of a coin's ability to reflect light; brilliance. Percentage of the original mint luster is one of the factors in determining grades of "Mint State" coins (e.g. MS-60, MS-65).