Home » Terminology For Precious Metals Coins & Bars
Terminology to know when dealing with Gold Coins, Bullion & Precious Metals
Gold Spot Price – This is the live current price of gold in the world market
Precious Metal Spot Price – This is the live current price of the precious metal in the world market you are transacting in
Bid/Ask Spread – This is the price difference that dealers use to buy and sell metals including gold bullion. The world precious metal markets all have a bid/ask spread. When customers are buying you use the Ask price to base the transaction off of and when customers are selling you use the bid price to base the transaction off of.
Bid Price – The price the metals are traded off when customers are looking to sell
Ask(offer) Price – The price the metals are traded off when customers are looking to buy.
Premiums– This refers to the price paid on top of the current spot price per troy ounce for the gold bullion product or other bullion products.
Volume Discount– As Professional Bullion Buyers we work on thin margins and work on even thinner margins when we buy large or sell large amounts of bullion and coins with clients
Melt Value– Refers to the value of the metal if it was melted down and sold for 100% of the value of the metal.
Lock-In Price – Refers to when you place an order and decide to execute the trade at a certain price and time. For example if you call our offices at 1:30pm and tell one of our bullion specialist you would like to buy a certain amount of a specific metal and coin at that exact time and at the current live price, you are “locking in” the order. When both parties agree on a trade at a certain time and at a certain price this is referred to as “locking in” the trade.
Numismatic coins – are essentially rare or valuable coins that have an external value above and beyond the base value of the precious metal. Sometimes they are valuable because they are historical, one-of-a-kind, have special marks, or were minted in an out-of-the-ordinary way.
Private Mint – A private mint product is produced by a non-government privately owned company. Some examples of private mints are Sunshine Mint( www.sunshinemint.com ) , IGR Mint ( www.igrglobal.com ), and Credit Suisse, valcambi ( Valcambi sa ). or www.valcambi.com/home/ ) . Often times these companies product bullion products like gold bars and rounds sell for lower premiums then government minted.
Government Mint – These are mints that are operated by the governments in which mint the coins and have the country marking on the coins such as the face value and the name of the country that minted the coins. Some government mints are, U.S. Mint (usmint.gov) , The Royal Canadian Mint , and the Royal Australian Mint .
Terminology to know when dealing with Silver Coins, Bullion & Precious Metals
Silver Spot Price – This is the live current price of silver in the world market.
Precious Metal Spot Price – This is the live current price of the precious metal in the world market you are transacting in.
Bid/Ask Spread – This is the price difference that dealers use to buy and sell metals including silver bullion. The world precious metal markets all have a bid/ask spread. When customers are buying you use the Ask price to base the Transaction off of and when customers are selling you use the bid price to base the transaction off of.
Bid Price – The price the metals are traded off when customers are looking to sell.
Ask(offer) Price – The price the metals are traded off when customers are looking to buy.
Premiums – This refers to the price paid on top of the current spot price per troy ounce for the silver bullion product or other bullion products.
Volume Discount – As Professional Bullion Buyers we work on thin margins and work on even thinner margins when we buy large or sell large amounts of bullion and coins with clients.
Melt Value – Refers to the value of the metal if it was melted down and sold for 100% of the value of the metal.
Lock-In Price – Refers to when you place an order and decide to execute the trade at a certain price and time. For example if you call our offices at 130pm and tell one of our bullion specialist you would like to buy a certain amount of a specific metal and coin at that exact time and at the current live price, you are “locking in” the order. When both parties agree on a trade at a certain time and at a certain price this is referred to as “locking in” the trade.
Numismatic coins – are essentially rare or valuable coins that have an external value above and beyond the base value of the precious metal. Sometimes they are valuable because they are historical, one-of-a-kind, have special marks, or were minted in an out-of-the-ordinary way.
Private Mint – A private mint product is produced by a non-government privately owned company. Some examples of private mints are Sunshine Mint( www.sunshinemint.com ) , IGR Mint ( www.igrglobal.com ), and Credit Suisse, valcambi ( Valcambi sa ). or (www.valcambi.com/home/ ) . Often times these companies bullion products like gold bars and rounds sell for lower premiums then government minted.
Government Mint – These are mints that are operated by the governments in which mint the coins and have the country marking on the coins such as the face value and the name of the country that minted the coins. Some government mints are, U.S. Mint (usmint.gov) , The Royal Mint of Canada , Royal Australian Mint | We make Australia’s coins! (ramint.gov.au) ,
