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
- PRECIOUS-Gold rises as weak US data, stimulus hopes bolster appeal September 18, 2020Sept 17 (Reuters) - Gold prices rose on Friday as the dollar slipped, while ... FUNDAMENTALS * Spot gold climbed 0.4% to $1,951.13 per ounce by 0125 ... suggesting a big transfer of bullion to New York that followed the pandemic ...
- Gold rises as weak US data, stimulus hopes bolster appeal September 18, 2020Gold bullion bars are pictured after being inspected and polished at the ABC Refinery in Sydney on August 5, 2020. DAVID GRAY | AFP | Getty Images.
- Gold Shines in Corona Era Records Broken September 18, 2020Looking at this development, plainly within the coming days, the value of gold will enhance additional. -Vimal Goyal, President-Delhi Bullion and ...