Bullion and Numismatic Jargon
We understand that to a newcomer there can be a mountain of information to digest, new terms to understand and many abbreviations in both coin collecting and bullion. We try our best to break this down on all our webpages publishing information suitable to a new investor or collector all the way through to our most experienced customer. Here we have dedicated a page to breaking down jargon, abbreviations and technical terms to help you navigate the numismatic and bullion industry.
AGW - Actual Gold Weight
In line with Krause, we usually quote the actual fine gold content of most coins in troy ounces. The price per troy ounce is the most widely quoted price for precious metals. To convert gross weight in grams to actual intrinsic gold content: Gross weight in grams/31.1035 = Gross weight in troy ounces. Gross weight in troy ounces x Fineness (alloy) = actual fine content in troy ounces.
Au is the chemical symbol for gold, a yellow metallic element, and comes from the Latin word aurum meaning gold.
XAU is the ISO 4217 currency code for gold, denoting one troy ounce of gold.
This is a term used to describe precious metals, bought or sold, at or close to the intrinsic metal value.
An object, usually a piece of metal, often a flat disc, used as money. Gross weight in troy ounces x Fineness (alloy) = actual fine content in troy ounces.
According to HM Customs & Excise: Investment gold (other than investment gold coins) is defined as “gold of a purity not less than 995 thousandths that is in the form of a bar, or a wafer, of a weight accepted by the bullion markets”. You can read more on our page dedicated to a definition of investment gold.
The value of the metal contained within the coin or bar.
The difference between the spot price and the buying or selling price, usually expressed as a percentage.
The percentage over and above the current gold value at which an item trades at.
The spot price is the price that gold will sell for on the spot, that very day. The spot price can refer to the live price of gold per ounce, gram or kilo. Typically, however, spot gold is quoted in price per ounce using U.S. Dollars.
Buy Sell Spread
The difference between the buying price and the selling price.
We offer fully insured, door to door service for any value and quantity of bullion gold and silver.