What does BU mean?
BU (Brilliant Uncirculated) refers to bullion coins or bars that have never been in circulation and maintain their original mint luster. These products show no signs of wear but may have minor imperfections from the minting process.
What does Circulated mean?
Circulated coins or bars have been used in transactions or handled over time, resulting in visible wear or surface marks. In contrast to BU coins, circulated pieces often have a lower collectible value due to their condition.
What does Assay mean?
An assay is a certification verifying the metal content and purity of a bullion product. Assay cards, commonly used for gold bars, are issued by mints or refiners to guarantee authenticity and quality.
What is the difference between Carat and Karat?
- Carat (ct) is a unit of weight used for gemstones, such as diamonds, where 1 carat equals 0.2 grams.
- Karat (K or kt) is a measure of gold purity. 24K gold is pure gold (99.9%+), while 18K gold contains 75% gold and 25% other metals for added strength.
What is a Hallmark?
A hallmark is an official stamp or engraving on bullion bars, coins, or jewelry that certifies the metal’s purity, authenticity, and the refinery or mint that produced it.
What is an Ingot?
An ingot is a refined bar of precious metal (such as gold or silver) cast into a standard shape for investment or trade. Ingots come in various sizes and purities, often featuring a hallmark and weight indication.
What is a Troy Ounce?
A Troy Ounce (ozt) is the standard weight measurement for precious metals. It differs from a regular (avoirdupois) ounce used for everyday items.
- 1 Troy Ounce = 31.1035 grams
- 1 Standard Ounce = 28.3495 grams
This means that when you purchase a 1 oz gold or silver coin, it weighs 31.1035 grams, not the 28.35 grams of a standard ounce.