Gold Terminology (Glossary)
Investing in gold gets less complicated once you understand some of the gold terms and terminology used by those in the precious metals industry. This page is dedicated to providing you with definitions of the more commonly used terms.
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(American Numismatic Association): the largest
numismatic organization for coin collectors and those interested
in learning more about money and its history
AU (About Uncirculated): a coin that shows only a small amount of wear on the high area(s) of the coin's design
avoirdupois weight system: the common weight system used in the U.S. based on a pound of 16 ounces and an ounce of 16 drams or 437.5 grains
bullion coin: a coin whose value is based on the intrinsic value of the precious metal it contains
commemorative coin: a coin produced to recognize/celebrate a person or event
die: the metal mold that is used to produce (strike) a coin
Double Eagle: a U.S. $20 dollar gold coin
hallmark: the mark or imprint on a precious metal bar (or ingot) signifying the purity and maker of the piece
Mint State: used to describe a coin that has never been circulated and has no wear marks. Mint states run from 60 through 70.
obverse: the front of a coin, also referred to as the "heads" side
NGC: Numismatic Guaranty Corporation, a leading coin grading service
PCGS: Professional Coin Grading Service, one of the premier companies which grades and certifies coins
planchet: the blank (or coin disk) on which the die imprints a coin's design
troy weight system: the system used to weigh gold and silver based on 12 ounces to a pound and 20 pennyweights or 480 grains to an ounce