In the same category

A Question Of Purity

IMG Auteur
From the Archives : Originally published June 05th, 2013
233 words - Reading time : less than a minute
( 1 vote, 4/5 ) , 1 commentary
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
1
comment
Our Newsletter...
Category : Gold University

FREQUENTLY ASKED QUESTIONS

Purity refers to the amount (by weight) of pure gold an object has. The most common way of describing purity, particularly in the jewellery industry, is by Carats (Karat in the US). Carats are just the purity expressed in units of 24, such that 100% equals 24 carat and 50% equals 12 carat.

For bullion, refiners and dealers use either percentages or fineness (fine being another word for pure). The table below shows the most common purities.

In wholesale investment precious metal markets, physical gold is traded in bars of approximately 400oz with a purity of 99.50% or more. The reason wholesale gold is traded at 99.50% is because it is much cheaper to refine to this purity than 99.99%, which requires additional processes.

Australian gold bullion coins and bars are made from 99.99% pure gold. In verbal discussions, 99.99% is often referred to as "four nines". You may also hear reference to 99.9999% gold - six nines - the purest form of gold ever produced.

In 1957, The Perth Mint produced a gold proof plate of almost six nines as measured by the Worshipful Company of Goldsmiths in London. The Royal Mint was so impressed that it ordered some of the gold as the benchmark for its own standards.

Image: The Perth Mint's Plate 42C - the purest gold ever tested by the Royal Mint with certificate of verification.

 

<< Previous article
Rate : Average note :4 (1 vote)
>> Next article
Comments closed
  All Favorites Best Rated  
nearly 1000% pure gold, wow. ;)
Latest comment posted for this article
nearly 1000% pure gold, wow. ;) Read more
odanez - 6/5/2013 at 12:52 PM GMT
Top articles
Latest Comments
The Fed Is Confused about What Drives Inflation
12:21neville
Hi Frank, Thanks for your article.......The fact of the matter is that LIES LIKE EVERYTHING ELSE DRIVES INFLATION , which as it so happens is 'THE'...
What kind of person runs for public office ?
17 OctThemis
I liked the use of the self-actualization chart within the context of politicians and their motives. It probably applies to many in Hollywood as w...
The Silliness of the Bretton Woods Years
16 OctThe Recusant
KUDOS! The book is anti-gold slanted throughout and subtly mocks those that value gold as seen in that silly Las Vegas Golden Rooster tale. As I pr...
The Future (Not)
14 OctS W.-1
I have it on good authority that the Aliens living in Antarctica have discovered a way of turning Ice into Oil. All we have to do to secure ou...
Betrayal!
09 OctThemis1
I agree 100% with all the points you made. You have summarized my own anger and the reasons for it. My only consolation is that I believe the eli...
A silver price-suppression theory gets debunked
07 OctDoom
I think he linked the wrong article, because there's minimal facts and logic there relevant to price suppression. It's a shame, because I really wo...
Light It Up
07 OctThemis
I keep wondering whether the US is fermenting a war with North Korea so as to indirectly draw China in and delay implementation of the yuan-for-oil...
One Nation Under Gold (2017), by James Ledbetter
05 OctThe Recusant1
Sadly, I too hoped for a more even-handed assessment of gold in our economic history. The book IS biased and by the time I got to the 20th century ...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS