Troy Ounce
A troy ounce is a unit of weight for precious metals, equal to about 31.1 grams.
Spot Price
The spot price of a precious metal, such as gold or silver, is the current market price at which it can be bought or sold for immediate delivery. This price is determined by the global supply and demand, and it fluctuates throughout the day.
The spot price of a metal is typically quoted in U.S. dollars per troy ounce.
Premium
The premium in precious metals is the additional cost above the spot price that you pay for a physical item.
Types of bullion
Bullion is physical gold and silver of high purity, often held as bars, ingots, or coins, and sometimes recognized as legal tender.
Coins
Unlike rounds, coins are minted by governments and have a legal tender face value. These are often valued higher due to mint recognition and ability to easily resell.
Premiums tend to be higher on coins.
Rounds
Rounds are coin-shaped pieces made by private mints that do not have legal tender status or a face value. Their value is primarily based on the metal content and market demand.
These tend to have lower premiums compared to coins.
Bars
Bars are rectangular pieces of typically gold, silver, or platinum that are produced by mints or private refiners. They are often referred to as bullion bars and are valued primarily for their metal content rather than any artistic or collectible value.
Premiums tend to be lowest on bars.
Other Forms
Other forms of precious metals are used for investment, collection, or decorative purposes. They can vary in design and size, and their value is typically based on the metal content and craftsmanship rather than a face value.
Premiums can be higher on decorative pieces due to the limited production volume and custom manufacturing processes for more intricate pieces.
APMEX
APMEX (American Precious Metals Exchange) is a major U.S. dealer with very high annual sales and a huge product catalog.
BullionVault
One of the largest platforms globally that lets private investors buy, sell, and store gold, silver, platinum, etc., in vaults around the world.
JM Bullion
Also among the top in net sales among online bullion & precious metal stores globally.