/Glossary of Terms
Glossary of Terms 2018-02-01T12:42:01+00:00

GLOSSARY OF PRECIOUS METALS AND GRADED COIN TERMS:

  • Ask Price – The selling or offer price.
  • Bid Price – The price someone offers to pay you for your coin or bar.
  • Bullion – Precious metals like platinum, palladium, gold or silver in the form of bars or coins in varying weights and sizes.
  • Collector Coins – Typically modern issue coins released in a controlled mintage.
  • Historic Coins – As it sounds, coins linked to some notable historic event such as shipwreck coins or even bars.
  • Numismatic Coin – A coin whose value is based on rarity, demand, condition, and mintage.
  • Melt Value – The basic intrinsic bullion value of a coin if it were melted and sold as a percentage weight times current market price.
  • Premium – The amount by which the coin or bar exceeds the actual value of its metal content.
  • Spot Price – The current live bid/ask price of a metal or commodity as it trades on a futures exchange.
  • Futures Price – Metals as a commodity trades on a futures exchange with forward delivery dates.
  • Spread – The difference between the buying price and the selling price.
  • Troy Ounce – The unit of weight for precious metals which is slightly heavier than a normal or Avoirdupois Ounce.
  • Grading Service – An accepted third party that assigns a Numismatic grade to a coin using the Sheldon Grading Scale. The most recognized and popular are NGC and PCGS.
  • Coin Grade – The Official American Numismatic Association grading standard known as the Sheldon Grading Scale using a 70-point scale.
  • Fineness – The purity of a coin or bar based on what percentage of 100% is something, like .995.
  • Sterling – Percent of a finished silver product which is .925.
  • Karat – Measurement of jewelry purity where 24 karat is 100%.
  • MS – Mint State
  • Proof– Knows as PR or PF is not a grade, rather the technique the coin was manufactured.

SHELDON GRADING SCALE:

1 = PO1 Basal State-1

2 = FR2 Fair

3 = AG03 Very Fair

4 = G4 Good

6 = G6 Good

8 = VG8 Very Good

10 = VG10 Very Good

12 = F12 Fine

15 = F15 Fine

20 = VF20 Very Fine

25 = VF25 Very Fine

30 = VF30 Very Fine

35 = VF35 Very Fine

40 = XF40 Extremely Fine

45 = XF45 Extremely Fine

50 = AU50 About Uncirculated

53 = AU53 About Uncirculated

55 = AU55 About Uncirculated

58 = AU58 About Uncirculated

60 = MS60 Mint State

61 = MS61 Mint State

62 = MS62 Mint State

63 = MS63 Mint State

64 = MS64 Mint State

65 = MS65 Mint State

66 = MS66 Mint State

67 = MS67 Mint State

68 = MS68 Mint State

69 = MS69 Mint State

70 = MS70 Mint State, (the perfect coin)

PROOF GRADES:

60 = PR60

61 = PR61

62 = PR62

63 = PR63

64 = PR64

65 = PR65

66 = PR66

67 = PR67

68 = PR68

69 = PR69

70 = PR70

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