Coins are graded on a 70 point grading system known as the sheldon scale.
VG-8 stands for Very Good 8/70
A coin collection is called, well, a coin collection. The hobby of collecting coins is called numismatics.
a coin collector
Coin collecting
While the president has not said much about coin collecting, he has said a lot about education and about the importance of hobbies that are educational. Both stamp collecting and coin collecting teach about geography and about important historical figures, so the chances are, he would be in favor of such hobbies.
very good
Coin collecting
Numismatology
Lots of wear on the coin and the lowest grading possible.
RPM is a coin collecting slang for "Repunched Mintmark". It refers to when the mintmark on a coin has been struck twice, and you can see remnants of the first mintmark underneath the second mintmark.
edge of a coin with grooved lines that run around the entire perimeter of the coin
In coin collecting, it means Brilliant Uncirculated, a very nice coin, but not as good as a Proof coin.
A coin described as "Premium Quality" is an above average example.