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.
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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