Spot Gold, Fri. 2/10 close
Bid/Ask
2,024.402,025.40
Low/High
2,019.402,037.60
Change
-9.90-0.49%
30daychg
-6.60-0.32%
1yearchg
+158.90+8.52%
( Sat. Feb 10th, 2024) It is important to know what you are buying because certain unverified dealers will sell precious metals in ounces instead of troy ounces. This small difference can make one product look like a much better deal. Don’t be fooled, though. If you know and trust your source for bullion, this deception is rare and not likely something you would have to worry about.
The best way to ensure it is in troy ounces is to buy products with their weight and purity standards engraved on them. This practice is very common in the industry. Nevertheless, if a bullion product, such as a silver round or gold bar, does not have the weight & purity engraved on it, it may be hard to liquidate it down the road. Another option is buying government-minted products, such as silver coinsor gold coins. Most government mints will produce bullion in troy ounces. A notable exception is the Chinese Mint since their recent adoption of the metric system and gram weights as the unit of measure for their bullion coins.
Like to know more ? Leave a message here or at (512)-596-6966 & a representative will return your call.
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com