Account
The language of physical silver
Silver terms,
without the fog.
A practical reference for the words used by mints, dealers, collectors, and market reports.
A–Z reference
Know the term before you price the piece.
- Assay
- A test or documented process used to determine a metal's composition and fineness.
- Coin silver
- A traditional U.S. alloy description commonly associated with .900 fine silver, not a statement that every silver coin uses that purity.
- Fine silver
- Silver of high purity. Bullion labels often state .999, .9999, or another fineness rather than simply saying pure.
- Fine troy ounce
- The actual amount of pure silver after multiplying gross troy weight by fineness.
- Fineness
- The proportion of precious metal in an alloy, usually written as a decimal such as .999 or .900.
- Sterling silver
- An alloy that is 92.5% silver by mass, conventionally marked .925.
- Troy ounce
- The precious-metals weight unit equal to about 31.1035 grams, heavier than the everyday avoirdupois ounce.
- Bid
- The price a buyer is currently willing to pay. A dealer's bid is usually below its retail asking price.
- Buyback
- A dealer's offer or published policy for purchasing metal from a customer.
- Legal tender
- Money recognized by an issuing authority for payment of debts. A bullion coin's denomination can be far below its metal value.
- Mintage
- The reported number of coins or pieces produced for an issue, date, mint, or finish.
- Bullion
- Precious metal valued mainly for its metal content, commonly made as bars, rounds, or government-issued coins.
- Cast bar
- A bar formed by pouring molten metal into a mold. Surface texture and dimensions may vary between examples.
- Comex bar
- A large wholesale-market silver bar meeting the applicable exchange-approved brand, weight, and fineness requirements.
- Generic silver
- Bullion traded mainly for metal content rather than a particular sovereign program, scarce issue, or collectible design.
- Hallmark
- A maker, refiner, purity, weight, or control mark applied to a precious-metal object.
- Junk silver
- An informal collector term for circulated silver coinage bought mainly for metal content; the coins are not literally trash.
- Minted bar
- A bar cut or struck to a more uniform finish, often with sharper edges and detailed surface design.
- Monster box
- A bulk mint container holding multiple tubes of bullion coins; exact quantities depend on the program.
- Poured bar
- A cast-style bar whose visible flow lines, cooling patterns, and irregularities can make each example look slightly different.
- Round
- A coin-shaped piece issued by a private mint without sovereign legal-tender status.
- Cull
- A heavily worn, damaged, cleaned, or otherwise impaired coin generally valued with less collector premium.
- Obverse
- The front or principal side of a coin or round, often carrying the primary portrait or emblem.
- Proof
- A specially manufactured finish or method associated with prepared dies and planchets; it is not simply a synonym for uncirculated.
- Reverse
- The side opposite the obverse on a coin or round.
- Toning
- A surface color change produced as silver reacts with its environment. Appearance and market preference vary widely.
- Melt value
- An estimate of contained metal value: fine troy ounces multiplied by the chosen spot-price reference.
- Numismatic value
- Collector value attributable to factors such as scarcity, condition, demand, provenance, variety, or presentation beyond metal content.
- Premium
- The amount paid above a metal-value reference. Compare premium per fine ounce and complete delivered cost.
- Spread
- The difference between a seller's asking price and the price available when selling the same or similar metal.
- Spot price
- A market reference for immediately deliverable metal. Retail products trade above or below that reference depending on the transaction.
Put the language to work
Read a real record.
See weight, fineness, form, issue history, and collector context together in the archive.