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Bullion

A Precious Metal in Bulk Form.

These metals may be cast into ingots or coins. There are two types of silver coins, generic and US Mint. The US Mint coins, even though they are issued as legal tender, the coins face value is far below the actual price of the bullion. Purity levels vary. 99.9 purity is common. The purist coins are the Canadian gold Maple leaf which go up to 99.9999 purity. 100% pure buillion does not exist as there will always be a curve of impurity. Some examples of precious metals bullion are gold, silver, platinum, palladium, and rhodium.

Units of Measurement

Troy weight is used to measure weight of precious metals, gems, and black powder.

• Troy Pound is 12 ounces – 240 pennyweight – 5760 grains
• Avoirdupois pound is 7000 grains
• Troy ounce is equivalent to 31.103468 grams
• One troy ounce equals 1.09714 avoirdupois ounce
• Pennyweight (dwt) 24 grains to 1 dwt – 20 dwt to one ounce troy

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