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Live Gold Spot
SPOT MARKET IS OPEN
closes in 17 hrs.13 mins.
Nov 16, 2007 NY Time
bid 786.3
change -0.8
contractmonth 2007-11-16
high 797.5
open 787.1
openint
pctchangeS -0.10
prevclose 787.1
time_ymdhms 2007-11-16 17:13:04
volume
Silver & PGM'S
SPOT MARKET IS OPEN
closes in 18 hrs.07 mins.
Nov 16, 2007 NY Time
bid 14.43
change 0.00
contractmonth 2007-11-16
high 14.71
open 14.43
openint
pctchangeS 0.00
prevclose 14.43
time_ymdhms 2007-11-16 18:07:41
volume

Silver:
The purity rate for silver bars and medallions provided by the Crowne Mint is .999 fine. This is a higher grade of purity than collectible silver coins, which are typically 90% fine, or Sterling Silver, which is 92.5% fine.
The traditional "Spot Price" for silver traded on the commodities markets fluctuates in accordance with world market pressures and constitutes the buying and selling rate for silver in minimum blocks of 5,000-ounce quantities. Spot price does not include charges for brokerage fees, shipping and delivery costs, refining for purity upgrade, dies, fabrication and minting, polishing, finishing, insurance, vaulting, administration costs, etc.

Commercially pure silver, that which is acceptable for NYMEX/COMEX contract deliveries, is at least .999 fine silver. For some applications, .9999 fine silver is required and is usually sold at a premium due to the extra refining that is required to manufacture it.

The difference between silver that is 99.9% pure and silver that is 99.99% pure is generally that there is a slight bit more copper in the 99.9% silver. From a practical point of view, fabricators set up processes to be optimized for certain purity standards since even .01% less or more silver can make a big difference in how the metal reacts to heat and pressure in the minting process.

Generally, when the mint purchases .999 fine silver, it arrives at the mint somewhere in the .9993 to .9999 range. The mint must actually calculate the amount of copper needed to add to each large industrial bar in the melting process - based on its weight and purity - to bring the fineness to .9993 - the fineness for which the mint’s processes are set up. It is possible to purchase .9999 fine silver that is guaranteed to that fineness and even higher .99999 fine silver. These are for specific applications and require a very high premium. They are simply not practical for investment grade silver rounds and bars.


Gold:
Both Crowne Gold and the Crowne Mint, use .9999 (24 karat) gold for everything produced for physical delivery. Purity specifications for NYMEX/COMEX gold deliveries are only .995. However, all gold bars and shot that the mint purchases are .9999 fine and is more costly than the actual spot trading price of gold. The difference in gold purity is usually small amounts of silver and/or copper that are alloyed with the gold.
The purity rate for gold traded on the world's commodity markets is .995 and is the standard at which "Spot Price" is determined. The traditional "Spot Price" you see quoted on this site is regularly updated in accordance with world market pressures and constitutes the buying and selling rate for .995 gold in minimum one hundred ounce contracts. However, Crowne Gold clientele are able to purchase gold for vaulting at this price with only a $1,000 minimum purchase rather than the 100-ounce minimum required by the commodities markets.

Whereas gold purchased by Crowne Gold clientele is executed at the world spot price applicable on the New York market closing on the day good funds are received, (the rate for 99.5% fine gold) when or if a client wishes to take physical delivery of gold in fabricated rounds or bars, the actual gold product is at the higher purity rate of .9999 fine.

When taking delivery of custom designed coins and small bars there is a premium charged above the spot price to pay for the increased refining of the gold products to .9999 fine.

The gold spot price does not include charges for brokerage fees, shipping and delivery costs, refining for purity upgrade, dies, fabrication and minting, polishing, finishing, insurance, vaulting, administration costs, etc.


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