Common Terms

  • Bullion

Bullions are products manufactured with precious metals such as gold, silver, platinum and palladium. Bullions are authentic products, which are officially recognized by global precious metal markets – and are manufactured in the form of bars and coins.

  • Historic Coin

Historic coin is a term given to coins that dated pre-1933. Historic coins are also made of pure gold or silver. The term is quite commonly used in the precious metals industry to determine really old precious coins.

  • Karat

Karat is a measure given to the purity of any gold product or any other precious metal. Pure gold is given a measure of 24 karat. The gold that is availably more commonly is less pure than 24-karats, and have a purity of 22-karats. This drop in purity is essentially made to make the gold more durable.

  • Liquidity

Liquidity refers to how fast any asset can either be purchased or sold in the market. Precious metal products that have high liquidity are generally sold more quickly, meaning, the seller of the product doesn’t wait for a particular buyer to sell it to and neither does the seller incurs big discounts on the price at which he sells the product.

  • Markup

Markup is the difference the wholesale expense of the dealer and the final price.

  • Premium

Premium is the cost charged of a precious metal product over the spot price of its content.

  • Mint State (MS)

The mint state of any coin refers to their condition – it is the measure of how authentic numismatic coins, which vary quality wise and start from MS61 to MS70.

  • Numismatic

Numismatic coins are precious metal coins, which are given value based on their rarity, the date they were minted, their condition and value rather than what precious metal they are made with.

  • Obverse

The front-side of any coin.

  • Reverse

The back-side of any coin.

  • Spot Price

The spot price is the cost at which an ounce of precious metal can be purchased or sold for physical delivery by a big establishment or a large bullion exchange.