Glossary of Content

Allocated Gold

Gold bullion held by a third party on behalf of the investor. This third party can be a bank or a dealer (as in the case of GOLD STOCK). The gold is separated from other metals that may be held by the bank/dealer and is identified by its unique bar numbers. GOLD STOCK's Canadian Depository Program allows you to purchase precious metals and have them stored on a segregated and allocated basis in our secured vault facilities. Our convenient and flexible investment plans allow you to add, sell or withdraw your holdings at any time.


A mixture of two or more metals. Metals such as silver, nickel, copper and zinc are often mixed with gold to create what is known as Alloy Gold.

Approved Refiners

A select group of refineries whose metal production is seen as meeting minimum standards for purity and whose bars are accepted for delivery against contracts on futures exchanges and on the spot market. Find a complete list at the Gold Bars Worldwide website. Download Gold Bar Manufacturers

Ask price

The lowest price at which you could buy. See Ask pricing at


The Fire Assay Method is centuries old, but it’s still one of the most reliable methods for determining the metal content of ores that contain precious (noble) metals - gold, silver and platinum. Ore from the mine or exploration sampling program is scientifically sampled using a statistically accurate method fitting the desired accuracy. It is then prepared by crushing, splitting and pulverizing -- a process referred to as sample preparation. Gold Stock performs various full refining services. Visit our website or call for more information about our assaying services.


A generic term for a bar of gold or silver. Bars come in various sizes. Visit our online shop to learn more about the gold, silver and platinum bars we carry.

Base Metal

Typically a metal from the group comprised of copper, aluminum, nickel, tin, zinc and lead. These metals tend to oxidize, tarnish or corrode when expose to the elements. They are abundant in nature and thus more cheaply valued than the rarely found and expensive to mine precious metals.


An investor who believes that a particular security or market is headed downward . Bears attempt to profit from a decline in prices.


The "bid" is the current highest price at which you could sell.


Someone who believes prices are going to rise.


A generic term for gold and silver.

Call Option

An agreement that gives the buyer the right, but not the obligation, to purchase an agreed quantity of an underlying commodity at an agreed price sometime in the future.


Karat is basically a unit used to measure the purity of gold. The higher the karatage, the purer the gold.


A common instrument issued by banks or qualified bullion dealers to signify ownership of a quantity of unallocated metal. The certificate negates the need for an investor to hold physical metal.

Cut-off Grade

The minimum grade required in order for a mineral or metal to be mined or processed economically. This is typically expressed in terms of grams or ounces per ton. Material above the cut-off grade is considered to be ore, while material below the cut-off is considered to be waste.

Face Value

The legal tender value of a bullion coin. It is the minimum value guaranteed by the issuer but does not necessarily reflect the current market value or the value of the precious metal content of the coin.

Fine Ounce

This is a troy ounce of pure gold content in a gold bar. A descriptive measurement for gold which has a minimum purity of 99.5%.

Fine Weight

The metallic weight of a bar, ingot or coin, as opposed to the ‘gross weight’, which includes the alloying metals.


The purity of a gold bar expressed as a decimal, e.g. 0.995.


The twice-daily (first at 10:30am, and then again at 3pm) act of setting gold prices by the five members of The London Gold Market Fixing Ltd. This rate is used as a benchmark for pricing the majority of global gold products and derivatives.

Gold Standard

A form of monetary system which existed at various times up until 1971. The basis for the system is one where a country's currency is backed up by physical bullion and where the notes and coins of a country can be exchanged for the underlying metal.


The act of locking a sale price for a future contract to protect against market validity. E.g. Gold producers can hedge against falling gold prices by taking up a position in the gold futures market.


A bar of gold, silver, or other metal, typically oblong in shape.


A standard gold bar containing 1 kilogram of fine gold and traded widely around the world.


A 1 oz platinum coin minted by the Western Australian Mint in Australia. The Koala coin is 99.95% pure.


The act of borrowing gold or silver to fund day-to-day working requirements or hedging positions.

Maple Leaf

A 1 oz gold coin minted by the Royal Canadian Mint. The Maple Leaf is 99.99% pure. Gold Stock is a DNA Bullion Dealer for the Royal Canadian Mint. See the Gold Stock collection from The Royal Canadian Mint.

Mint State

A bullion coin in 'perfect' condition that has never experienced general circulation.

Mint Mark

A small mark on a coin identifying the mint that manufactured the coin.

Numismatic Coins

Numismatic coins are considered collectible and are valued for rarity, and/or historical significance, not as much for their actual metal content.


A 1 oz gold coin minted in China and issued by the People's Bank of China. This coin is 99.9% pure.

Paper Gold

Contracts to buy or sell gold which do not involve an actual exchange of physical metal. Paper gold could be used to describe futures contracts, options or certificates.


Refers to actual underlying metal as opposed to a claim on the metal represented by paper gold.


Refer to any dollar value over and above the London Spot price which may be charged by a physical seller to deliver metal to a market other than London.

Pure Gold

Gold having a purity of 24 carats or 99.99%. See ‘Karat’.

Royal Canadian Mint

Government-owned Canadian refinery based in Ottawa. The RCM, a good delivery refinery, refines gold & manufactures the world famous Maple Leaf gold coin. GOLDSTOCK Corp is an authorized DNA Bullion dealer of the Royal Canadian Mint.

Royal Mint

The Royal Mint, a 1,000-year-old institution owned by HM Treasury and the world’s leading export mint, has successfully been producing precious metal coinage since the 9th Century and has throughout this time continued to strike coins in gold, silver and soon platinum.

Spot Price

Market price for gold based on present pricing as opposed to future contract.


Commonly used in physical gold markets to describe a transaction entered into with another party whereby gold in one location is 'swapped' for gold in another location. The cost of the swap implies theoretical shipping, insurance, and financing costs, and also reflects demand for metal in a particular location.


Unit of measurement used widely in India and the Middle East. One tola is equivalent to 11.1 grams or 0.375 ounces.

Troy Ounce

Unit of measurement dating back to the Middle Ages. 1 Troy Ounce is equivalent to 31.1034807 grams.

TT Bar

Ten tola bar containing 3.746 ounces of gold. The bars are popular in India and the Middle East.

Two-Nines five (0.995)

Gold with a purity of 99.50%. This is the standard accepted by the London Bullion Market Association, (LBMA), for delivery against ‘spot’ bullion contracts.

Unallocated Gold

A claim on a quantity of gold bullion held by a bank or dealer on behalf of the owner. With an unallocated account the customer doesn’t have an entitlement to any specific bullion bars, and is a creditor of the bullion bank or dealer. In other words, when you buy unallocated metal you aren’t actually owning physical bullion, but rather a document saying your account is worth the same as the metal’s futures price.


The relative rate at which a security tends to move up or down. Uncertainty in the market tends to increase the level of price volatility.


A term used to describe small gold bars, (usually less than 50 grams).

World Gold Council

An industry based nonprofit organization sponsored by a number of gold producing companies. The role of the World Gold Council is to promote the use of gold around the world.