Wiki Topics
Reference articles for precious-metal decisions.
Start with melt value, premiums, dealer spreads, authentication, and the practical language of coins and bullion.
What Is Spot Price?
Spot price is the quoted market price for a precious metal, usually expressed per troy ounce. It is a reference point, not the exact price a consumer pays or receives for a physical coin or bar.
Melt Value Explained
Melt value is the estimated value of the precious metal content inside a coin, round, or bar. It is calculated from fine metal weight multiplied by the current spot price.
Premiums Over Spot
A premium over spot is the amount paid above the metal's baseline spot value. Premiums vary by product type, mint recognition, size, demand, and dealer inventory.
Dealer Buyback Spread
The buyback spread is the difference between the price a dealer sells a product for and the price they are willing to pay to buy it back. Understanding the spread helps sellers compare offers more calmly.
Assay and Authentication
Authentication is the process of confirming that a coin, bar, or round is genuine and contains the expected metal content. No single casual test is perfect, especially for high-value gold.
Liquidity and Divisibility
Liquidity describes how easily an asset can be sold. Divisibility describes how easily value can be broken into smaller pieces without selling more metal than intended.