Troy Oz- A unit of measure for the weight of precious metals that dates back to the middle ages. One troy ounce is equal to 31.1034768 grams.
Spot Price- Is the current market price at which an asset is purchased or sold. Different from forward price or futures price, which is the price at which an asset can be bought or sold.
Bid- Is when you sell precious metals the buyer will reference a market or spot bid price when determining the value of the item
Ask- Is when you buy precious metals the seller will reference a market or spot ask price when determining the value of the item
Premium- The price over spot based on liquidity and demand of product.
Bullion- Is any precious metal in bulk before coining or valued by weight and is a direct reflection of spot price.
Numismatic- Relating to or consisting of collectible precious metals or currency
Liquidity- Is how easily and readily an asset can be converted to cash due to popularity or demand usually based on the purity, design, regional economic stability, and geographic location of the product.
Financial Diversity- Is investing in different assets of many issuers in an attempt to reduce overall risk.
Gold Standard- Was the system where the value of a currency was defined in terms of gold, for which it could be exchanged. It was abandoned in the 1930's.
Purity- Is a measure of fineness by the parts per thousand of pure metal by mass in the alloy.
Certified Coins- Are coins professionally graded for tiered fees to determine the grade or condition of a coin and its value.