Quick answers about gold and silver
Short answer: every question below has a one- or two-sentence answer, and a link to the page that covers it in full.
Weights and units
- How many grams are in a troy ounce?
- One troy ounce is exactly 31.1034768 grams, usually rounded to 31.1035. It is the unit used to price gold, silver, platinum and palladium. Gram to troy ounce converter
- What is the difference between a troy ounce and a regular ounce?
- A troy ounce is 31.1035 grams and a regular (avoirdupois) ounce is 28.3495 grams, so the troy ounce is about 9.7% heavier. Precious metals are always priced per troy ounce. Avoirdupois ounce
- How many troy ounces are in a kilogram?
- A kilogram is 32.1507 troy ounces, so a one-kilo bar contains a little over 32 troy ounces of metal. Kilo bar
- How many grams is a tola?
- A tola is commonly taken as 11.6638 grams. It is used to sell gold in India, Pakistan and parts of the Gulf. Tola
- How many pennyweights are in a troy ounce?
- There are 20 pennyweights in a troy ounce. A pennyweight is 24 grains, or about 1.5552 grams. Pennyweight
Prices and premiums
- What is the spot price?
- The spot price is the current wholesale price of one troy ounce of a metal for immediate delivery. Retail coins and bars cost more than spot because of premiums. What the spot price is
- What is a premium over spot?
- It is the amount you pay above the metal's value at spot for a coin or bar. It covers minting, distribution and the dealer's margin, and is usually shown as a percentage of the melt value. Premium over spot calculator
- How do I convert a gold price per ounce to a price per gram?
- Divide the price per troy ounce by 31.1035. If gold is 2,000 per ounce, it is about 64.30 per gram. Price per gram calculator
- What is the bid-ask spread?
- The bid is what a dealer pays you and the ask is what a dealer charges you. The gap between them is the cost of buying and then selling again. The bid-ask spread explained
- What is a buyback price?
- A buyback price is what a dealer will pay for a coin or bar. It is normally below the dealer's selling price, so ask for it before you buy. Buyback price
Purity and value
- What does 999 mean on a gold bar?
- It is the fineness: 999 parts in 1,000 are pure gold, or 99.9%. A stamp of 999.9 means 99.99% pure. Fineness
- How much gold is in 18 karat gold?
- 18 karat gold is 75% gold, because karat is parts per 24, so 18 divided by 24 is 0.75. It is usually stamped 750. Gold karat converter
- How do I work out the melt value of gold?
- Multiply the weight by the purity to get the pure gold, convert it to troy ounces, and multiply by the spot price per troy ounce. Gold melt value calculator
- How much silver is in a dollar of 90% US coins?
- A dollar of face value in 90% US dimes, quarters or half dollars holds about 0.723 troy ounces of pure silver. Junk silver calculator
- What is the density of gold and silver?
- Gold is about 19.32 g/cm³ and silver about 10.49 g/cm³. Platinum is about 21.45 and palladium about 12.02. Density
Cost basis and tracking
- What is cost basis?
- Cost basis is the total you paid for an asset, including premium, shipping and fees. It is the figure your gain or loss is measured against. Cost basis
- How do I calculate my average cost per gram?
- Divide the total you paid by the total grams you own. Do not average the per-gram prices, because that ignores how large each purchase was. Average cost calculator
- What is dollar-cost averaging?
- It means buying a fixed amount at regular intervals, whatever the price, so you buy more metal when it is cheap and less when it is dear. DCA calculator
- What should I record when I buy bullion?
- Record the metal, product, weight, purity, quantity, total price including fees, date, seller and storage location, and keep the invoice and photos. Record-keeping checklist
Bars, coins and storage
- What is an assay card?
- An assay card is a card sealed with a bar that records the refiner, weight, fineness and usually a serial number. A bar in its sealed card is easier to resell. What an assay card is
- What is a good delivery bar?
- It is the large bar traded between banks and refiners. A gold good delivery bar weighs roughly 400 troy ounces, about 12.4 kg. Good delivery bar
- What is a monster box?
- A monster box commonly holds 25 tubes of 20 one-ounce coins, which is 500 coins. Tube and monster box
- What is the difference between allocated and unallocated storage?
- With allocated storage, specific bars are set aside in your name. With unallocated storage you hold a claim on a pool of metal, which is cheaper but depends on the custodian. Allocated vs unallocated
- What is junk silver?
- Junk silver means circulated coins minted in silver, such as US dimes, quarters and half dollars dated 1964 or earlier, valued for their metal content. Valuing junk silver
BullionKeeper
- Is BullionKeeper free?
- Yes, up to 20 holdings. Vault Elite is $49.99 a year, or $299 once for the first 200 founding members, and adds unlimited holdings, photos and Family Vault. Pricing
- Does BullionKeeper have a mobile app?
- BullionKeeper runs in your browser today. iOS and Android apps are in progress. Features
- How do I delete my BullionKeeper account?
- Open Profile, choose Delete account and type DELETE. Your account and its data are removed immediately. Delete your account
- Which currencies does BullionKeeper support?
- Spot prices are available in more than 50 currencies, shown per gram or per troy ounce. Currencies
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