|
| J K L M N O P Q |
| R S T U V W X Y Z |
| ACID
TEST: A means of determining the fineness of
gold through the use of nitric acid and aqua regia. |
| ACTUAL
GOLD CONTENT: The amount of gold that exists
in an object when all the alloys have been subtracted. |
| Ag: The
chemical symbol for silver. |
| ALLOY: A
mixture of two or more metals. Metals such as silver, nickel,
copper and zinc are frequently mixed with gold to improve
its hardness and/or change its color. |
American
Eagles: Products of the U.S. Mint, and
since their debut in 1986 have become this country's most
popular gold bullion coin. Struck in a traditional coinage
alloy of 91.7% pure gold (22 karat), each size contains
a full measure of pure gold, plus additional silver and
copper as alloy.
See our American Eagle page. |
| Arbitrage: Simultaneously
buying and selling a commodity in different markets to take
advantage of price differentials. |
| Ask: the
price at which a dealer offers to sell. |
| ASSAY: An
analysis of a metal used to determine its purity. A series
of assays can be run to determine the alloys in the metal
as well. |
| Au:
The chemical symbol for gold which is derived from "aurum",
the Latin word for gold. |
Australian
Dragon: Each coin comes individually
encapsulated in a square plastic case. Australia's Lunar
Calendar series began in 1997 as a 'premium' priced .9999
bullion coin.  |
Australian
Kangaroo: Australia's gold Nuggets (now
Kangaroos) were introduced in 1986 as a .9999 fine bullion
coin. Each year the design is changed, since 1989 with
various portraits of kangaroos. Coins come individually
encapsulated in a square
plastic case.
See our Australian Kangaroo page. |
| AUSTRIAN
Philharmonic: Austria's .9999 gold Philharmonics
came out in 1990, and quickly became Europe's most popular
gold bullion coin. They picture the Weinar Philharmonic
building on the obverse, with musical instruments on the
reverse. |
| AVOIRDUPOIS: The
system of weights and measures commonly used in the U.S.
and Great Britain in which 16 oz. = 1 pound. It is used
for most solid objects except precious metals and gems.
One avoirdupois ounce equals 28.35 grams or 437.50 grains.
See |
| B |
| Backwardation: A
situation in which prices for future deliveries are lower
than the spot price |
| BASE
METAL: Also known as pot metal is a mixture
of non precious metals. It is frequently used as a base
for gold-filled, gold plated or rolled gold plate coverings. |
| BEAR
MARKET: Describes investment markets
such as stock markets or metals markets in which prices
are, or are soon expected to be, in decline. The opposite
of a bear market is a bull market. |
| Bid: the
price at which a dealer is willing to buy. |
| BLANK
PLANCHET: A
plain metal disc made for coinage which has not yet been
struck with an obverse, reverse or edge design. |
British
Sovereign: British gold Sovereigns were
struck worldwide at the height of the British Empire.
Each is 91.7% pure (22k) and contains .2354 troy ounce
of pure gold. Condition of these pre-1928 coins we offer
is Extra Fine to Almost Mint.
|
| BU: Brilliant
uncirculated, used to describe a coin in new condition. |
| BULL
MARKET: Describes
investment markets such as stock markets or metals markets
in which prices are, or are soon expected to be, on the
rise. The opposite of a bull market is a bear market. |
| BULLION
COIN: Precious metal in the form of a
coin which trades at a price close to spot. In other words,
it has little or no numismatic value. |
| BULLION: Gold
which is 995 fine or better. The term has also come to be
used to describe 1. gold coins which closely follow spot
gold and have little or no numismatic value (such as restrikes)
and 2. the form in which metal is shaped such as bars, ingots
or wafers. The most commonly traded gold bullion pieces
among individual investors in the United States weigh 10
oz. or less. |
| BUSINESS
STRIKE: The
strike used by the mint to manufacture coins for everyday
use. This differs from a proof strike. |
| BUST: The
head, neck, shoulders and upper chest of an image generally
found on the obverse (front) of a coin. |
| C |
Canadian
Maple Leafs: Modern
bullion coins by the Royal Canadian Mint. Canada's gold
Maple Leafs are from the Royal Canadian Mint, and were
the first .999 pure gold bullion coin (as opposed to a
bar or ingot ) when released in 1979. Today, they are
struck to an even finer purity of .9999 ("four
nines," or 99.99% pure gold).
See
our Canadian Maple Leaf page |
| CARAT: (with
a "c") A measurement of weight which is generally
used in reference to gems. It is equal to about 3.086 grains
Troy or 0.2 grams. It is not to be confused with KARAT (with
a "k") which is a measurement of the fineness
of gold. |
| Cash
market: A market in which delivery and
payment have to be made within two working days of the
transaction date. |
Chinese
PANDA: China's Panda gold coins
began in 1982 as the first 'premium' priced .999 bullion
coin, featuring a different panda portrait each year.
They became hugely popular as collectibles by the late
1980's. Each coin is individually sealed in a vinyl pouch
at the China Mint.
See our Chinese Panda page. |
| Centenario: See
Mexican Peso |
| CENTRAL
DEVICE: The main design found on either
side of a coin. |
| Coin
of the realm: A legal tender coin issued
by a government, meant for general circulation. |
| Coin: A
stamped piece of metal of a known weight and fineness issued
for commerce. |
| Comex: One
of the world's major commodities futures exchanges where
gold and silver are traded. The Comex is in New York City
and is a division of the New York Mercantile Exchange. |
| Commemoratives:
Legal tender coins or medallions usually minted of gold
or silver to commemorate themes, events, places, or people. |
| CORONET: A
small crown or tiara worn by Liberty in some of the early
U.S. coins. |
| Cu: The
metallurgical symbol for copper. |
| D |
| DEVICE: A
design found on a coin. Frequently it is the bust or profile
of a person who symbolizes a particular country at a particular
time in history or a country's coat of arms or insignia. |
| DIE: An
engraved metal object used to strike or stamp the design
on a coin. |
| Double
Eagles: U.S. $20 gold coins used as legal
tender 1850
–1933. Double Eagles contain .9675 oz. of pure gold.
Early $20 coins had the portrait of Miss Liberty’ s
profile on the obverse. From 1908-1933 they had Augustus
St. Gaudens’ standing Liberty design. This design
was appropriated, with modifications, for the various sizes
of the modern gold Eagle bullion coins. |
Dragon: Australia's
Dragons. The current (year 2012) version is the "Year
of the Dragon." Each coin comes individually encapsulated
in a square plastic case. Australia's Lunar Calendar series
began in 1997 as a 'premium' priced .9999 bullion coin.
|
| E |
EAGLE: U.
S. $10 face value gold coins used as legal tender 1795-1933.
They contain .4837 ounces of pure gold ALSO: the generic
term for the modern bullion coins issued by the U. S. Mint
since 1986.
See
our Gold Eagles Page |
| EDGE: The
side of a coin which may be reeded, lettered or plain. |
| F |
| Face
value: The legal monetary value stamped
on a coin. See symbolic face value. |
| Fiat
money: Paper money made legal tender
by law, although not backed by gold or silver. |
| Field: The
open area or background on a coin. |
| FINE
GOLD: Pure,
24 karat, 999 fine gold. |
| Fine
weight: The metallic weight of a coin,
ingot, or bar, as opposed to the item's gross weight which
includes the weight of the alloying metal. Example: a
1-oz Gold Eagle has a fine weight of one troy ounce but
a gross weight of 1.0909 troy ounce. |
| Fineness: The
purity of a precious metal measured in 1,000 parts of an
alloy: a gold bar of .995 fineness contains 995 parts gold
and 5 parts of another metal. Example: the American Gold
Eagle is .9167 fine, which means it is 91.67% gold. A Canadian
Maple Leaf has a fineness of .999, meaning that it is 99.9%
pure. |
| FOOL'S
GOLD: Iron
pyrite is often mistaken by novices for gold. Although
its color resembles gold, its properties are very different
from gold. It is hard and brittle while gold is soft and
malleable. |
| Forward
transaction: Purchase or sale for delivery
and payment at an agreed date in the future; similar to
a futures contract, except that forward transactions are
not subject to the standardized procedures and regulations
of a commodities futures exchange. |
| French
Franc: French 20-franc gold "Roosters" were
struck from 1899 to 1916, and each is 91.7% pure (22 karat)
pure and contains .1867 troy ounce of pure gold. These
coins we offer are almost Mint to fully Mint Condition. |
| Futures
contract: An agreement made on an organized
exchange to take or make delivery of a specific commodity
or financial instrument at a set date in the future. |
| G |
| GOLD
COLOR: Variations
in the alloys used with gold create different colors of
gold such as yellow, green, red and white. The most common
alloys used with gold are: silver, copper, zinc, and nickel.
Silver and zinc tend to give gold a greenish hue, copper
a reddish cast and nickel a white color. |
| Gold
Eagles: Modern gold bullion coins. American
gold Eagles are products of the U.S. Mint, and since their
debut in 1986 have become this country's most popular
gold bullion coin. Struck in a traditional coinage alloy
of 91.7% pure gold (22 karat), each size contains a full
measure of pure gold, plus additional silver and copper
as alloy. See
our American Gold Eagles page |
| GOLD
ELECTROPLATE: Process by which 24 karat
gold is deposited on another metal electrolytically. The
plating must be at least seven millionths of an inch thick. |
| GOLD
FLASHED: A
gold coating which is less than seven millionths of an
inch thick. It is sometimes called gold washed. |
| GOLD
NUGGET: Placer gold which has been washed
out of the rocks generally into river beds where it has
been beaten by the water and rocks into a "nugget" shape. |
| GOLD
PLATE: A common term for electro-gold
plating. |
| Gold
standard: A monetary system based on
convertibility into gold; paper money backed and interchangeable
with gold. |
| GOLD: A
precious yellow metallic element that is resistant to oxidation
and is highly ductile and malleable. In the United States,
a metal must 10 Karat gold or more to be called gold. |
| GOLD-FILLED
(GF: ) A process by which a layer of at least
10 kt. gold has been mechanically bonded to another metal
(usually a base metal). This layer usually constitutes
AT LEAST 1/20th of the total weight of the metal in the
piece. Items are marked G.F. preceded by the karat fineness
of the veneer. For example if a bracelet is marked 1/20
10 kt. G.F. and weighs one Troy ounce it is possible to
determine the pure gold content by performing the following
calculation. Pure gold content = 1/20 |
| Good
delivery: The specification that a bar
of precious metal must meet in order to be acceptable
for delivery at a particular exchange. |
GRAIN: The
earliest known unit of weight and was originally one grain
of wheat or barley. It is equal to 0.0648 grams Troy and
24 grains are equivalent to one pennyweight. There are 480
grains in a Troy ounce, and 437.5 grains in an Avoirdupois
ounce.
|
| GRAM: The
basic unit of weight of the metric system A metric unit
of mass and weight. A gram equals approximately 1/32 Troy
oz. and is used in Troy weight as a measure of gold. (31.1035
grams = one troy ounce.) |
| H |
| HALF
EAGLE: U. S. $5 face value gold coins
used as legal tender, and issued from 1795-1929. They
contain .24187 ounces of pure gold and were almost identical
in size to the nickel 5c coin. |
| Hallmark: Mark
or stamp on a bullion item that identifies the producer. |
| Hedge: An
offsetting transaction (e.g. the purchase or sale of a future
contract or option) designed to lessen the impact of adverse
movements in the value of assets. |
| I |
| Intrinsic
value: The value of a coin's metal content. |
| Inverted
market: A
situation in which prices for future deliveries are lower
than the spot price. Also known as backwardation. |
| J |
| K |
| KARAT: (with
a "k") A measure of gold fineness or purity. Pure
gold is considered to be 24 karat. For this reason, the
actual gold content of any object is the percentage relationship
of its purity to 24. For example, 18 karat gold is 18kt/24kt
or 75% pure gold or 750 fine. |
| KARAT
GOLD: Gold
(10 karat or better) used in the manufacture of jewelry.
According to U.S. law, the metal must be at least 10 karat
or it cannot be called gold. |
| Kilo
bar: A bar weighing one kilogram (32.1507
troy ounces). |
| Kilogram: 1,000
grams (32.1507 troy ounces). |
| Koala: Australian
platinum coin, minted since 1987,.995 fine. |
Krugerrand: South
African gold coin Gold Krugerrands from South Africa were
introduced in 1967, and dominated the gold bullion market
in the U.S. from 1974 through the early 1980's. They are
struck in 22 karat gold (91.7% pure), each coin containing
a full measure of pure gold, plus additional copper as an
alloy.
See our Krugerrands page. |
| L |
| Legal
tender: Currency in specified denominations
which a creditor is compelled by law to accept as payment
of a debt. |
| Legend: The
inscription on a coin. |
| Liquidity: The
quality of being readily convertible into cash. |
| London
fix: Two daily bidding sessions in London
of five major gold firms, at which the price of gold is "fixed" or
set. |
| Luster: A
frosty appearance on the surface of a coin, usually an un-circulated
coin. |
| M |
Maple
Leafs: Modern
gold, silver, and platinum coins minted by the Royal Canadian
Mint. Canada's gold Maple Leafs are from the Royal Canadian
Mint, and were the first .999 pure gold bullion coin (as
opposed to a bar or ingot ) when released in 1979. Today,
they are struck to an even finer purity of .9999 ("four
nines," or 99.99% pure gold).
See our Canadian Maple Leaf page |
| Market
value: The
price at which a coin or bullion item trades. |
| Medallion: A
round piece of metal resembling a coin but not a "coin
of the realm."
A medallion may be issued by a government or private mint.
The Engelhard 1-oz silver prospector is a privately-minted
medallion. |
| Metric
ton: 1,000
kilograms or 32,151 troy ounces. |
| Mexican
50 Peso: Gold coin first issued in 1921
to celebrate the 100th anniversary of Mexico's independence.
The Mexican 50 Pesos in the bullion coin market normally
are restrikes, minted from 1943 onward. Weight: 1.2057
troy ounce,.900 fine. |
| MINT: The
place where a coin or bar was manufactured. |
| Mint
mark: A
letter or symbol stamped on a coin to identify the minting
facility where it was struck. |
| Mint
State: Describes
a coin in un-circulated condition. |
| Modern
issues: Current
coins, whether struck for circulation or for sale to investors
or collectors. |
| MS-60: The
lowest grade of Mint State coins. Higher-grade coins are
labeled MS-61 up to MS-70. Coins showing wear are graded
below MS-60 and fall into grades from AU down to G, with
G being a coin showing great wear and AU being a coin showing
little wear. |
| N |
| Noble: Modern
platinum bullion coin issued by the Isle of Man since 1983. |
| NOMINAL
FACE VALUE: Nominal value given to legal
tender coins sold for their metal content. Example: the
1-oz Gold Eagle carries a $50 face value but sells for
the value of its gold content plus a premium of 5% to
8%. |
| Nugget: Modern
gold bullion coin minted by Australia, .9999 fine. |
| Numismatic
coins: Coins whose prices depend more
on their rarity, condition, dates, and mint marks than
on their gold or silver content. |
| NUMISMATICS: The
study of coins, currency and medallic art. |
| Numismatist: Coin
collector. |
| NYMEX: The
New York Mercantile Exchange, a future exchange where platinum
and palladium are traded. |
| O |
| OBVERSE: The
front of a coin. The device on the obverse usually consists
of the image of one or more people. |
| Ounce: A
unit of weight. In the precious metals industry, an ounce
means a troy ounce equal to 31.1035 grams. |
| P |
PANDA: China's
Panda gold coins began in 1982 as the first 'premium' priced
.999 bullion coin, featuring a different panda portrait
each year. They became hugely popular as collectibles by
the late 1980's. Each coin is individually sealed in a vinyl
pouch at the China Mint.
See
our Chinese Panda page. |
| pennyweight: Equals
24 grains or 1/20 of a Troy ounce. |
| Planchet: A
blank piece of metal used for stamping a coin or medallion. |
| Philharmonic: Austria's
.9999 gold Philharmonics came out in 1990, and quickly became
Europe's most popular gold bullion coin. They picture the
Weinar Philharmonic building on the obverse, with musical
instruments on the reverse. |
| Platinum
Eagles: Modern platinum bullion coins
minted by the U.S. Treasury. |
| PREMIUM: The
additional cost of gold coin or bullion over and above the
spot gold price. The premium includes the costs of fabrication,
distribution and a minimal dealer fee. The average premium
of a bullion piece at this time is 5% to 15% above spot
gold. Rare coins carry an additional premium called numismatic
value which is based on scarcity, quality, demand and intangible
factors. |
| PROOF: Refers
to the manner in which a coin was minted NOT to its condition.
Highly polished dies and special plainchants are used to
produce coins with a mirror-like finish. A proof strike
is very different from a business strike and proof coins
are generally made for collectors not for normal use. |
| Q |
| QUARTER
EAGLE: U. S. $ 2 ½ face value gold coins,
issued as legal tender 1795- 1929. These dime-size coins
contain .121 ounces of pure gold. |
| R |
| Restrike: Officially
issued reproduction of a former circulating coin. |
| RESTRIKES: Are "new" coins
made from "old" dies which is why they are referred
to as "new mintings". Restrikes generally have
the same specifications as the original coins of which they
are copies - this includes the same dates, composition,
and dimensions. Restrike coins are officially produced by
a government mint and they are usually not legal tender.
Government mints pick one date as the "restrike date" for
a particular coin. For instance, the restrike date for the
Austrian 100 Corona is 1915. Restrikes are considered bullion
coins because such a large number were made that they have
no numismatic value. In fact, the original coins made from
the dies used for restrikes have no numismatic value because
there is no way to tell them from the copies. |
| REVERSE: The
back of a coin. The device on the reverse of a coin usually
consists of a country's coat of arms or an insignia. |
| ROLLED
GOLD PLATE (RGP): Jewelry which consists
of LESS than 1/20 of 10 karat to 14 karat gold by weight.
For example, a RGP bracelet weighing 1 Troy oz. might
be |
| S |
| Short
sale: The sale of an asset for future
delivery without possession of the asset sold. |
| Silver
Eagles: Modern
1-oz silver bullion coins. |
| Slabbed
coins: Coins
encapsulated in plastic for protection against wear. Generally,
"slabbed" coins are graded by one of the two major
grading services. |
| SOLID
GOLD: The Federal Trade Commission rules
state that the term "solid gold" can be applied
to items which are not hollow and contain at least 10
kt. or finer gold. |
South
African Krugerrand: Gold Krugerrands
from South Africa were introduced in 1967, and dominated
the gold bullion market in the U.S. from 1974 through
the early 1980's. They are struck in 22 karat gold (91.7%
pure), each coin containing a full measure of pure gold,
plus additional copper as an alloy.
See
our Krugerrand page. |
| Sovereign: English
gold coin with a face value of one pound sterling and a
gold content of .2354 ounce. British gold Sovereigns were
struck worldwide at the height of the British Empire. Each
is 91.7% pure (22k) and contains .2354 troy ounce of pure gold.
Condition of these pre-1928 coins we offer is Extra Fine
to Almost Mint. |
| SPOT
GOLD PRICE: The
constantly fluctuating price of gold in unfabricated form.
The closing spot price varies with markets located in
numerous cities and countries throughout the world. It
is recommended that one follow the spot gold close from
one particular source in order to consistently gauge the
fluctuations in the world markets. Commonly quoted gold
markets include: New York City, Chicago, Handy and Harmon,
Engelhard, Republic National Bank, London, Zurich, Paris,Frankfurt,
and Hong Kong. Note that when buying gold in the United
States, the price will generally be based on the prices
in New York or Chicago. |
| Spot
market: A market in which delivery and
payment have to be made within two working days of the
transaction date. |
| Spot: The
price for the physical delivery of bullion bars, usually
100-oz bars of gold or platinum and 1,000-oz bars of silver. |
| SPREAD: The
difference between the buying price and the selling price
of an object at the same time on the same day by the same
person. If gold is purchased at $400.00 per ounce, and sold
at $390.00,the spread is $10.00. |
| Symbolic
face value: Nominal value given to legal
tender coins sold for their metal content. Example: the
1-oz Gold Eagle carries a $50 face value but sells for
the value of its gold content plus a premium of 5% to
8%. |
| T |
TROY
OUNCE: A
measure of weight. A Troy ounce is different from the
ounce most Americans are accustomed to (the Avoirdupois
ounce). There are 12 Troy ounces in a Troy pound, and
one Troy ounce is equivalent to 1.333 Avoirdupois ounces.
So, if you buy one pound or twelve Troy ounces of gold,
don't expect it to weigh in at one pound on your bathroom
scale, because it won't. One troy ounce equals 31.1035
grams or 480 grains. One troy ounce equals 1.09711 avoirdupois
ounce.
See
our conversion tables page |
| U |
| Uncirculated: A
coin in new condition, sometimes said to be "Brilliant
Uncirculated or BU The term is often used interchangeably
with Mint State |
| V |
| VERMEIL: Gold
plating on another metal - usually silver. |
| W |
| X |
| Y |
| Z |
