ILLIQUIDITY

- Opposite to liquidity. Typical of the state of most expensive coins during a slow or depressed market period.

IMITATION

-That which is made or produced as a copy, and usually not in violation of counterfeit laws. See Copy.

IMPAIRED

- Damaged or mishandled; an object which is in less new condition through other than normal wear and tear in circulation or in addition thereto.

IMPAIRED PROOF

- A coin struck as a Proof but no longer in mint state, ie., suffer; some form of marking, hairlines, etc. usually through mishandling and/or poor storage rather than necessarily through actual circulation use.

IMPAIRED PROOFLIKE

- Similar to Impaired Proof.

IMPROPER STRIKING PRESSURE

- Usually insufficient striking pressure on the planchet so that the detail evident in the finished coin is less than desired.

INCANDESCENT LIGHTING

- Ordinary house lighting . The best light to use when grading uncirculated coins. Best viewing is 3 feet from a 100 watt bulb. See also Fluorescent Lighting.

INCUSE

- Coins with either obverse or reverse design sunk below the coin's surface. A design raised above the surface is in relief.

INGOT

- A piece of precious metal shaped in a mould. Much of the gold reserves of various nations are stored in ingots and bars.

INITIALS ON COINS

- As well as mint marks, the initials or identifying letters of the coin's designer, engraver and/or modeller are found on all Canadian coinage dating prior to 1977. For example - L. C. W. (Leonard C. Wyon); etc.

INSCRIPTION

- Words, phrases, sentences, and motto's appearing on coins are known as inscriptions.

INTAGLIO

- An engraving or incised figure in a hard material depressed below the surface of the material.

INTERMEDIATE GRADE

- An unofficial grade that is between two officially acceptable ones, eg. MS-64 which is between the official MS-63 (Choice) and MS-65 (Gem). The preferred reference to an MS-64 is as Choice Unc (63) or Choice Unc (63) and Better but not Slider Unc (65).

INTRINSIC

- The intrinsic value of a coin is the actual metal value of the coin. Canadian silver coins before 1968 are today worth more intrinsically than their Face value, while the nickel 10 cents, 25 cents, 50 cents and $1.00 coin. Coins from 1968 are worth intrinsically less than their face value. See also Debasement.

IRIDESCENT

- A multi-coloured blending or toning frequently found in older uncirculated coins. See also Toning, Thin Film Light Interference.

ISSUING AUTHORITY

- The issuing government or a recognized agency of the government.

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