What is a "business strike" coin?
RogerB
Posts: 8,852 ✭✭✭✭✭
The term "business strike" apparently originated with our inventive ol'e friend Walter Breen. Not being one who was too careful about clear language, Breen latched onto a short three-syllable phrase that actually says less than nothing.
Here's the difficulty: the US Mint is in the business of making coins and medals ( i think they dropped the collector spoons. Did they once have ash trays...? ). This simply means that ALL of these things are part of the mint's business. Thus, to call something a "business strike" is to say it can be ANYTHNIG the mint makes or has made.
A better, more meaningful approach, is to refer to various coins by their function or use. Thus a 'proof' coin is a "proof strike;" a 'circulation coin' is a "circulation strike;" a 'commemorative coin' is a "commemorative coin;" a 'sandblasted proof' is a "sandblast proof,"....OK everyone gets the meaning.
Now, this little gripe won't have much impact on collector-speak, but maybe a few will give some thought to the subject next time "business strike" falls from their lips. 
Comments
I like Business Strike coins that circulated.
Commercially produced for business transactions, to be specific. Even though nothing really circulates much, but rumor nowadays.
Struck for commerce (business) and not collectors.
Less care in production.
Way more error coins.
A coin that is struck for circulation.
There are things about Walter Breen that I abhor, but they are not numismatic and his coining the term "business strike" is not one of them since by now it has its own meaning, even though initially, as you correctly point out, it really had nothing to do with "business."
"Circulation strike" seems equally problematic since when struck the coin is not then circulated and many that we now prize as being mint state never circulated. No question he could have come up with a more meaningful term, but I'm not sure what it would have been. However, it appears that horse has left the barn.
You forgot hot, stinky air in Washington.
To the OP's point - I tend to agree with the linguistic accuracy of your statement, however, as the bulk of coins minted are for the transaction of business, "business strike" strikes me as entirely apropos, if not entirely proper.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I don't mind "business strike" to mean coinage meant to be used for monetary business transactions. Proof Strikes are for collector use and not business use, just like those other fancy things/strikes they dream up. Plus we have the added benefit of dropping two syllables!
Then what does one name the coins that are "business/circulation" strikes but are never intended to circulate . . .
The correct terminology can get real tricky really quick if you ponder on it long enough!
1947-P & D; 1948-D; 1949-P & S; 1950-D & S; and 1952-S.
Any help locating any of these OBW rolls would be gratefully appreciated!
Although I agree with you on most issues, Roger, I am a dissenter here. To me "business strike" connotes a piece that was made for commerce, not a piece that is made primarily for collectors or presentation purposes, like a Proof coin or medal. I see no harm in using the term, and I will continue to use it in my writings.
Business strike = A coin produced using contemporary techniques for general circulation (pocket change). A commemorative coin could be considered a business strike if the techniques employed in its creation are the same as an ordinary business/circulation strike. I believe many of the classic commems. from 1892 to the 1950s fall into this category?
Anyway, I'm OK with Breen
I understand your point, Roger. Essentially you are correct. A further adjective to describe what kind of "business strike" a coin is would be appropriate.
Would it ever catch on?
I think it's too late. Good post. Good food for thought.
Pete
I know most coin people are OCD or close to it... and issues such as these become important... That being said, there is also a segment of our population (and I am part of that segment) that does not worry about such details... I consider 'business strike' to mean it is not a proof or special coining (i.e. different finish of some sort)..and expect that, for the most part, those are the coins I see in change or in a teller's tray. So, carry on, I will have a few jelly beans (they are not just for breakfast anymore)
and proceed with preparing a sumptuous Easter repast... Today it will be Ancho Pork Hominy Soup... a truly delicious concoction that we enjoy. Cheers, RickO
I am OK with the use of the term in casual numismatic conversation. It is just not worth worrying about.
I am much more concerned with the way that people who own expensive coins with light wear on them keep insisting that "These coins are Un-circulated because we say that they are!!!"
TD
You make a good point, Tom
Pete
What would be the appropriate category for post-2001 P and D Kennedy halves?
My Adolph A. Weinman signature
NIFC, which makes the others IFC, which gives us Proof, Specimen, NIFC and IFC
ANA 50 year/Life Member (now "Emeritus")
"Spending money" works for me. However, in a few decades, they will be scarce "vintage" coins!
I agree it's probably "too late" or maybe too inconsequential now that the jargon has been established.
RE: "I will have a few jelly beans (they are not just for breakfast anymore)
and proceed with preparing a sumptuous Easter repast... Today it will be Ancho Pork Hominy Soup... a truly delicious concoction that we enjoy."
Good. I've nailed some fresh dressed bunnies to grills and will soon have them browning for brunch; then new lamb for a late dinner. Spring, with its renewed growth is a fine celebration of the festival of Eostre,
I agree with you out about labels and reality. Supposedly my Classic Head gold sets are up there with the Harry Bass and Eliasberg collections. As much as that might stroke my ego, I know that I am well behind those two illustrious sets. My sliders are not Mint State regardless of what is marked on the labels.
So far as those coins go, they are "business strikes" so far as their quality and mode of production goes. The difference lies in the mode of distribution. They are issued for more than face value and distributed by mint instead of the banking system.
For as long as I can remember the term business strike was used. Also from time to time circulation strike was mentioned as well.
Whitman Publishing agrees with you, RWB! As you know, our house style is to use circulation strike rather than business strike.
That sounds delicious. Recipe?
@northcoin....Sure....PM me your email.... Cheers, RickO
Add "business strike" to the long list of numismatic jargon that really doesn't make the most sense once you pause to think about it, but has too much inertia to be changed quickly.
Sorting out "coins made using the process of producing contemporary circulating coinage" and all the flavors of "coins otherwise made," including variations on press speed, other non-default press settings, planchet preparation, post-strike handling, press used, special legislative or administrative authorization or order, ceremonial incense being burned, and what-not could give us a vast number of terms nobody will be able to remember well enough to use correctly in a consistent manner, as witnessed by discussions of what constitutes a proof coin.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Roger, at the risk of being cast as a pariah of some sort I will say that this is past what I would expect from you. your posts are typically educational, entertaining or both: this one seems like a petty pet peeve(how's that for alliteration?). I'm sure you'll disagree and argue the point, but business strike, circulation strike and Mint State are used by the Hobby interchangeably to mean the same thing.
along with your page one "Trime" rant you seem to be frustrated that not everyone uses the proper terminology and you are on a mission to correct us all. that may be a noble undertaking but it is also an exercise in futility.
Yeah, who cares what we call things! I hate it when an educated numismatist starts nit-picking the rest of us. That's why it is stupid to spend time defining terms in a grading class. It is much more fun to watch students arguing over the exact same thing using different terms. Confusion reigns...LOL. Trime? What the heck is that? Cut it out @RogerB, you are making me feel really stupid!
wow.
Potatoe potato.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
@Cameonut said: "Potatoe potato."
Duck, duck, duck, and duck.
Oh, and the bird.
Goose!
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Is this because of the "specimen" comment in another thread?
Business strike describes it as best you can for the coins intended for the business of facilitating commerce. That's the main business of the mint.
All coins are the "business" of the Mints.
By routinely distinguishing the intended purpose of a particular coinage, we help improve clarity for present and future hobbyists. (Spell check says "Hobbits.")
The discussion of "specimen" is more difficult because the term was used with different meanings in differing contexts. Some overlapped "master coin" and "proof coin" and even "pattern coin," in addition to simply being an example.
The initial and primary business of the mint is to facilitate commerce (business) with the most usable and efficient physical medium. On the side, the mint has made other coins as well as fulfilling third party orders. Right?
I agree "specimen" has been abused.
Yep. However, commerce is not necessarily the same as business. And, those other coins and foreign orders were sometimes both circulation and proof coins. I prefer to be specific about the reason a group of coins was made. (This can also help new collectors navigate the jargon of coin collecting.)
Yes to the conscious and deliberate abuse of the word "specimen." Old usage was clearly informal and non-specific. But the modern commercial use is to call anything that looks a little different (even if made in an identical manner, but just from new dies) a "specimen" trivializes both term and associated coins.
"Specimen" means you can charge more for it
Agreed -- sadly.
It may not be a Breenism. The term first shows up in 1954, in a Harry Boosel article on 1873 coinage. We see it next in 1958 - in a New Netherlands sale - guess what, in reference to 1873 coinage. Breen likely picked up the term from reading Boosel.
@RogerB said: "Old usage [of the word specimen] was clearly informal and non-specific. But the modern commercial use is to call anything that looks a little different (even if made in an identical manner, but just from new dies) a "specimen" trivializes both term and associated coins.
I believe that practice became widespread and "market acceptable" sometime after 1986. Go figure.
RE: "Market acceptable."
Shouldn't that really be "marketing acceptable?"
There are only three terms needed for US Mint striking. Coiner Henry Voigt and Engraver Robert Scot called them coin strikes because they were striking coins. Later, medals, and master coins/proofs were struck at the Mint.
Coin strike
Proof strike
Medal striking (assumes more than one strike)
I feel likes being in a class room all over again
all discussion and no fun....
Those terms work (not the parrots).
I like Business Strike, to me it stands for change that is used to do business with money. My not be proper but oh well.
What about the term "pennies" ........
I always thought, rightly or wrongly, that "business strike" meant a coin that was struck to be used in commerce, or for "business". Never really was a topic of debate, at least among the various voices in my head...who I tend not to question when they agree.
Clearly the OP's suggestion -- circulation strike -- wins the race of self evidence. Alas, those darn extra syllables and fifty years of use. The resulting challenge is no doubt insurmountable for normal numismatists, but I hold out hope for followers of the Gospel of Roger yet!
Preach on, brother!...>Mike
Very likely. Reportedly Breen had a photographic memory so if he saw it somewhere he would have been able to retain it like few other numismatists of his era when no one else had the benefit of computers, or in his case a computer like mind.
The more I read of Breen's work - especially the early stuff and his notes about Ford & Friends, I begin to wonder if he had a very good memory, but not the kind of "trap" mind that Burdette G. Johnson possessed. But, we'll never know for sure. We must appreciate what he did well and replace what he faked.
Struck for circulation.