Physical precious metals are sold in two broad forms. Understanding the difference makes every product page easier to read, and makes it easier to compare like with like.
Bullion
Bullion is metal valued mainly for what it contains. It comes as bars, as rounds made by private mints, and as coins issued by government mints. What matters most is the metal, its weight and its purity, which is why bullion listings lead with those details.
Because the value rests on metal content, the price of a bullion product tends to follow the market price of the metal closely, with an amount added on top. That added amount is called the premium, and it is explained in Understanding Spot Price, Premiums, and Spreads.
Certified coins
A certified coin has been examined by an independent grading service, which confirms that it is genuine, assigns it a grade describing its condition, and seals it in a tamper-evident holder with a label and a certification number.
The price of a certified coin reflects more than its metal. Grade, scarcity and collector demand all play a part, so two coins containing the same amount of gold can be priced quite differently.
How Citizens Gold Reserve presents certified coins
- Titles use the full coin name and the full grade wording, such as “Proof 70” or “Mint State 70”.
- Certified coins are supplied in the listed grade from Professional Coin Grading Service, Numismatic Guaranty Company or CAC Grading.
- Photographs are representative. The holder, label and certification number on the coin you receive may differ from the one pictured.
Questions worth asking yourself
- Am I mainly interested in the metal itself, or also in a particular coin, year or grade?
- How do I expect to sell one day, and to whom?
- Do I understand what makes up the price of the item in front of me?
Neither form is “better”. They do different jobs, and many buyers hold both. If you would like to talk it through, ask us a question.