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Definitions of Gold Terminology

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  • AU
  • - The chemical symbol for gold which is derived from "aurum", the Latin word for gold.

  • KARAT(kt.)
  • - Indicates the proportion of solid gold in an alloy based on a total of 24 parts. Thus, 14-karat (14K) gold indicates a composition of 14 parts of gold and 10 parts of other metals.

  • 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.

  • FINENESS
  • - The term defines a gold content in parts per thousand. For example, a gold nugget containing 885 parts of pure gold, 100 parts of silver, and 15 parts of copper would be considered 885-fine.

  • FINE GOLD
  • - Pure, 24 karat, 999 fine gold.

  • SOLID GOLD
  • - Items which are not hollow and contain at least 10 kt. or finer gold.

  • 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.

  • TROY OUNCE
  • - The troy ounce is the standard unit of weight for precious metals(gold,silver) and gemstones. One troy ounce is abbreviated "t oz","toz" "oz" or "oz t". It equals approximately 31.1 grams.

    - 16 oz. are equal of 1 pound. - 32.1507 troy ounces = 1kg. - 1,000 kilograms(METRIC TON) = 32,151 troy ounces. - PennyWeight-Equals 24 grains or 1/20 of a Troy ounce

  • MOZ
  • - Million Ounces = 28,349kg

  • KOZ
  • - Thousand ounces, a unit of weight

  • Mt
  • - Metric tonne, equal to 1000 kilogram(1 tonne)

  • g/t
  • - grams per tonne

  • SPOT GOLD PRICE
  • - The constantly fluctuating price of gold in unfabricated form.

  • GOLD-FILLED
  • - The word is used to describe articles of jewelry made of base metal that are covered on one or more surfaces with a layer of gold alloy. No article having a gold alloy portion of less than one twentieth by weight may be marked “gold-filled.” Articles may be marked “rolled gold plate” provided the proportional fraction and fineness designations are also shown.

  • Eluvium
  • are geological deposits and soils that are derived by in situ weathering or weathering plus

    gravitational movement or accumulation.

  • Alluvial
  • deposits are mixed with other deposits and are washed downstream in rivers or transported in among other sediments with water as its medium.

  • Alluvial Gold
  • - Deposited by water movement

  • Eluvial gold
  • - Disintegration of rock at the site where it originates - not there through water movement

  • GOLD-PLATED
  • - is another material that is plated with a layer of gold or gold alloy. The layer of gold, not less than 10 karat fineness, is required to be of a substantial thickness, and the minimum thickness throughout is required to be equivalent to one-half micron (or approximately 20 millionths of an inch) of fine gold.

  • GOLD-FLASHED (Gold-wash)
  • - is similar to gold plated, except they do not meet the minimum thickness specified for gold plated. Term "Flash" refers to thicknesses less than 7 millionths of an inch.

  • VERMEIL
  • - Gold plating on another metal - usually silver.

  • 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.

  • 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.

  • COMMEMORATIVES
  • - Legal tender coins or medallions usually minted of gold or silver to commemorate themes, events, places, or people.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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).

  • 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.

  • 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.