Common Bullion Glossary & Terms
Bid – This is the price offer that dealers and traders will use to base the purchase prices.
Bullion – Refers to the type of metal in coins or bars. (Gold, Silver, Platinum, Palladium)
Circulated – Typically this means coins have been distributed and sold from a wholesaler to a consumer. Once the coins have been through the purchase cycle of distributor to consumer they are considered circulated.
Fineness – Refers to the precious metal content used in the coin. (.9999 = 99.99% fine)
Graded – A Coin that has been encased and reviewed by an independent third party grading service. These grading services review the detail of the coins and place a grade on the coin. The 2 main grading companies are PCGS & NGC.
Kilo – 32.1507 troy oz.
Legal Tender – A form of payment or currency that is recognized by the government manufacture of the produced item.(example Silver American Eagle $1 face value.)
Mint – Manufacture of the coin or bullion bars produced. Major Mints – United States, Royal Canadian, Austrian, Perth
Mintmark – A letter or symbol stamped on a coin to identify the minting facility where it was struck.
MS Grading Scale – Grading term for Mint State condition of a coin. Mint State coins are between 60 & 70. MS70 is the highest grade available for coins.
NGC – Coin grading service (Numismatic Guaranty Corporation)
Obverse – This is the front side of the coin, usually bears the head of the coin shown.
PCGS – Coin grading service (Professional Coin Grading Service)
Premium – The manufacturing costs for production of a coin or bar. Each mint or manufacture determines the premium costs for the sale of the product.
Proof – Special coins that have been produced for the public.
Purity – Refers to the metal content in the coin or bar.
Reverse – This is the back side of the coin.
Slab – Coins or bars that have been placed in a protective plastic case. Traditionally products are placed in holders by professional coin grading services.
Spot Price – The global price for one ounce of the metal on the futures market.
Troy Ounce – This is the unit of weight of 1.09711 ounces.
Uncirculated – Coins or Bars that have never been touched and are sold directly to the public. Coins are in brand new condition.
Weight – This is the stamped weight on a coin or bar with the weight based on troy ounces.
Year – Refer to the calendar date year that the coin or bar was manufactured or produced.
Common Bullion Glossary & Terms
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