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- Morgan
Synonym for Morgan dollar.
- Margin Call
The request for additional funds to cover losses on forward or futures contracts where the price has moved against a client. Also see Variation Margin.
- MD
Acronym for medium date.
- Marks
Imperfections acquired after a coin is struck.
- Mintage
The number of coins of a particular date struck at a given mint during a specific year.
- Mint set
A group of Uncirculated coins from a particular year, usually comprising coins from each Mint.
- Major variety
A coin that is widely recognized as having a major difference from other coins of the same date, design, type, and mint.Also see: Minor variety
- Min/Max
A zero cost collar-style hedging strategy whereby a client sells one option in exchange for another. In bullion markets, primarily used by producers who grant call options in exchange for put options - in this case, the structure guarantees that the client will receive a minimum pre-determined price in exchange for a possible opportunity loss if the actual price at maturity is above a maximum level, as determined by the strike price of the call option granted.
- Melt
Term for the intrinsic metal value of a coin.
- Moving Average
In technical analysis it is a key trend line that is plotted on a bar chart, reflecting the progress or prices over a given period of time.
- Master hub
The original hub created by the portrait lathe. Master dies are created from this hub.
- Mark To Market
The revaluation of a position at current market price levels.
- Milling mark
A series of two or more small nicks on a coin which result from contact with the reeded edge of another coin, usually in a mint bag. Milling marks are generally more detrimental to the grade than normal bagmarks, because of their severity of depth and greater visual impact. Also see: Reeding Mark.
- Mint
A facility where coins are crafted.
- Mis-struck
Term applied to "error coins" with striking irregularities.
- Market Order
An order given to a dealer for immediate execution, to buy or sell at the best prevailing price. Also known as ‘At Best’ or ‘At Market’.
- Minor variety
A coin that has a minor difference from other coins of the same design, type, date, and mint. Also see: Major variety
- Market grade
The grade at which most reputable dealers and auction houses would offer an uncertified coin.
- Morgan dollar
Term for the Liberty Head silver dollar struck from 1878 through 1904 and once again in 1921. George Morgan was only an assistant engraver, but his design for the dollar was selected over William Barber’s.
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