Silver Glossary of Terms for First-Time Investors

Here is a brief silver glossary to help familiarize you with precious metals if you’re new to the silver market.

We hope you enjoy your silver glossary and best wishes always.

Silver Glossary

  • Ask Price – The selling price precious metals dealers offer.

  • Bid Price – The price precious metals dealers pay for bullion or coins.

  • Bullion – Precious metals like gold, palladium, platinum, or silver in the form of bars or other storage shapes. Bullion coins are made of these metals, too.

  • Collector Coin, Historic Coin, or Numismatic Coin A coin whose value is based on rarity, demand, condition, and mintage; in fact, it may be worth more than its bullion value.

  • Melt Value – The basic intrinsic bullion value of a coin if it were melted and sold.

  • Premium – The amount by which the market value of a gold coin or bar exceeds the actual value of its gold content. The seller can recover part of the premium at resale.

  • Spot Price – The current price in the physical market for immediate delivery of gold; sometimes called the cash price.

  • Spread – The difference between the buying price and the selling price.

  • Troy Ounce – The unit of weight for precious metals. One troy ounce equals 480 grains, 1.09711 ounces, or 31.103 grams.

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