Bullion coin
A coin made mainly of precious metal and valued chiefly for its metal content rather than its face value or collectible rarity.
Bullion: Precious metal valued by weight and purity, commonly traded in bars, ingots, or coins. Bullion coins are a coin-shaped form of this metal investment.
Melt value: The value of an object’s recoverable precious metal at a specified market price. It estimates the metal-value floor beneath a bullion coin’s market price.
Gold coin: A coin made partly or wholly from gold, issued for circulation, investment, or collecting. Modern gold bullion coins are among the most widely traded bullion issues.
Numismatic coin: A coin valued substantially for its rarity, historical significance, condition, or collector demand. Numismatic value can outweigh metal content, unlike the usual basis for bullion coins.
Troy weight: A system of mass measurement used for precious metals, with one troy ounce equal to about 31.1 grams. Bullion coin weights are commonly stated in troy ounces.
Bullion coin premium: The amount a bullion coin’s price exceeds the market value of its contained metal. Minting, distribution, demand, and scarcity can make buyers pay more than melt value.
Silver coin: A coin made partly or wholly from silver, issued for circulation, investment, or collecting. Silver bullion coins offer exposure to a lower-priced precious metal.
Circulating coin: A coin issued for everyday transactions and used as money in an economy. Its practical role is payment, while a bullion coin is chiefly valued for its metal.
Fineness: The proportion of pure precious metal in an alloy, often expressed in parts per thousand. A coin’s fineness determines how much pure metal its stated weight contains.
Bid–ask spread: The difference between the price a buyer offers and the price a seller asks for an asset. The spread affects the cost of buying and reselling bullion coins.