Glossary of Coin and Stamp Terms
A bullion coin is a coin that is valued by its weight in a specific precious metal.
Collector or Rare Coin
The value of a collector or rare coin is based upon the coin’s rarity, demand, condition and mintage. A collector or rare coin may be worth more than its bullion value.
The spot price is the market price for immediate delivery of a commodity, such as gold, silver or platinum. Melt value: Melt value refers to the basic intrinsic bullion value of a coin if melted and sold.
The spread is the difference between what a dealer will charge to sell an item and what he will pay to purchase it.
The troy ounce is the measurement used in the pricing of precious metals such as gold and silver. The troy ounce is 480 grains or exactly 31.1034768 grams.
The price a seller is willing to accept for a security, also known as the offer price. Along with the price, the ask quote will generally also stipulate the amount of the security willing to be sold at that price.
An offer made by an investor, a trader or a dealer to buy a security. The bid will stipulate both the price at which the buyer is willing to purchase the security and the quantity to be purchased.