BULLION TERMINOLOGY - S
*Sourced from Kitco.com*
Chemical symbol 'Ag'. A shiny light-gray precious metal used until very recently for small denomination currency. Due to its attractive properties and its cost-effectiveness when compared to precious metals have led to its widespread use in jewelry, circuitry and a wide range of chemical applications. Its high demand has made it into a popular investment vehicle.
Silver American Eagle
Since their first strike in 1986, these coins are the official silver bullion coin of the United States of America. The US government guarantees the silver content (1 troy ounce) and purity (.999 fine silver). The obverse side of the coin features a throwback to the “Walking Liberty" coin design by Adolph Weinman. The reverse depicts an eagle behind a shield, holding an olive branch in one talon and arrows in the other talon. There are also 13 five-pointed stars representing U.S.A.’s original Thirteen Colonies.
Silver Canadian Maple Leaf
Since their first strike by the Royal Canadian Mint in 1988, these coins are considered by many bullion industry experts as one of the best coins one can buy in the silver marketplace. The Canadian government guarantees the silver content (1 troy ounce), purity (.9999 fine silver) and a face value of $5 CAD. The obverse surface features the profile of Queen Elizabeth II. The reverse depicts the famous Maple Leaf. Starting in 2013, additional security enhancements have been included in the design such as radial lines and a laser-engraved textured maple leaf.
South African Krugerrand
First struck in 1967, the Gold Krugerrand coins are the longest running modern gold bullion coins in the world. Although fractional coins exist, the most popular weight is 1 troy ounce and has a purity of 22k (.9167 gold). The Krugerrand was the world’s first troy ounce-denominated gold bullion coin. Although it is legal tender in South Africa, the coin was never struck with a face value.
South African Mint
Located in Centurion, Gauten Province, the South African Mint (SA Mint) is the official mint of the Republic of South Africa. The SA Mint has been jointly producing the world famous 1 oz bullion Krugerrand gold coin with the Rand Refinery since 1967. Kitco offers the 1 oz gold South African Krugerrand.
The spot price is the live market value at which an ounce of raw metal is trading.
The difference between the price at which the dealer is selling and buying the same product considering the same Spot price. Example: if Gold is purchased at $1,250 per ounce and sold at $1,240, the spread is $10.
Sunshine Mint Inc.
With manufacturing facilities in Idaho, Nevada & Shanghai, as well as additional sales offices in Canada, Austria & Argentina, Sunshine Minting, Inc. (SMI) is a leading domestic and global supplier of precious metal and base metal minted products. Kitco teamed up with the SMI to produce our line of silver Ace bars, as well as a wide range of other products.