BULLION: Bullion traditionally stands for gold bars, silver bars and other precious metals bars or ingots. A bullion coin is a coin that is valued by its weight in a specific precious metal. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition and age, bullion coins are purchased by investors seeking a simple and tangible means to own and invest in the gold, silver, and platinum markets.
SPOT PRICE: The market value of precious metals comes from the "COMEX" (The Commodity Exchange, where precious metals are traded) at the time of purchase. The spot price plus a "premium" is what determines the cost of bullion to our customers.
PREMIUM: The premium is the cost above market value or "spot price" that gets passed from manufacturer to wholesaler to distributor to retailer to customer. The calculation for bullion premiums depends on five key factors:
- The current bullion market supply and demand factors.
- Local, national, and global economic conditions.
- The volume of bullion offered or bid upon.
- The type of bullion products being sold.
- The bullion seller’s objectives.
AGW / ASW (Actual gold/silver weight): The AGW/ASW of a bullion coin or bar is the amount of pure gold/silver content in troy ounces. The physical size and total weight is irrelevant to its AGW/ASW (how much pure gold or silver) it contains. Most modern gold and silver coins and bars are 999.9 pure however, in the case of the American Gold Eagle and South African Krugerrand they are only 91.7% pure gold. Both coins still contain 1 oz of gold but are then mixed with copper and silver which makes them weigh more but still have an AGW of 31.1 grams
TROY OUNCE: There are 31.1 grams to a "Troy" ounce.
AGW of Common Gold Coins & Bars
Common Gold Coin Purity Weight (grams) AGW (grams) Troy Ounce (ozt.)
American Gold Eagle .9167 (22K) 34.0 31.1 1.0
American Gold Buffalo .9999 (24K) 31.1 31.1 1.0
Austrian Philharmonic .9999 (24K) 31.1 31.1 1.0
Canadian Maple Leaf .9999 (24K) 31.1 31.1 1.0
South African Krugerrand .9170 (22K) 34.0 31.1 1.0
Australian Kangaroo .9999 (24K) 31.1 31.1 1.0
PAMP Suisse Bars .9999 (24K) 31.1 31.1 1.0
Credit Suisse Bars .9999 (24K) 31.1 31.1 1.0
Perth Mint Bars (Australia) .9999 (24K) 31.1 31.1 1.0
Sunshine Mint (Idaho) .9999 (24K) 31.1 31.1 1.0
OPM / NTR / Elemetal .9999 (24K) 31.0 31.1 1.0
Retail Price of 1oz Gold Coins / Bars
Retail Price of Fractional Modern Gold Coins
American Gold Eagle Spot + $65
American Gold Buffalo Spot + $65
Canadian Maple Leaf Spot + $50
South African Krugerrand Spot + $45
Australian Kangaroo Spot + $50
PAMP Suisse Bars Spot + $45
Credit Suisse Bars Spot + $40
Perth Mint Bars (Australia)
Sunshine Mint (Idaho) Spot + $42
OPM / NTR / Elemetal Spot + $30
1/2 oz American Gold Eagle .500 x spot call
1/10 oz American Gold Eagle .100 x spot call
1/4 oz American Gold Eagle .250 x spot call
1/4 oz Canadian Maple Leaf .250 x spot call
1/10 oz Canadian Maple Leaf .100 x spot call
1/2 oz S. African Krugerrand .500 x spot call
1/4 oz S. African Krugerrand .250 x spot call
1/10 oz S. African Krugerrand .100 x spot call
20 gram Gold Bar spot / 31.1 = value per gram x 20 call
1 gram Gold Bar spot / 31.1 = value per gram call
Type Premium Size AGW Premium
Gold & Silver
The American Silver Eagle is the official silver bullion coin of the United States. It has a nominal face value of one dollar and is guaranteed to contain one troy ounce of 99.9% pure silver.
The Australian Kookaburra is a .999 fine silver coin. The reverse side features a kookaburra, a bird native to Australia. The design changes yearly and the Perth Mint limits mintages of these coins so they tend to have a higher collectible value than some other bullion coins.
Common Silver Coins & Bars
Gold & Silver
The Canadian Maple Leaf is the official silver bullion coin of Canada. It has a nominal face value of 5 Canadian dollars and is guaranteed to contain one troy ounce of 99.99% pure silver.
1 oz Silver Round is a .999 fine silver coin. They are produced by private mints so carry a smaller premium than the government minted silver coins. There are many different designs available.
1 oz / 5 oz & 10 oz Silver Bars just like silver rounds, these bars are made of .999 fine silver by private mints and carry the same diverse design options and lower premiums as the rounds. This is generally the cheapest way to invest in silver bullion.