Physical Bullion Contract Specifications Explained
This part will focus on explaining the various headings and the typical specification entries. Any specifications that are odd or different will be given further explanation within that particular bullion item’s page. Follow this link to see the full list for all of our silver, platinum and gold investment grade bullion.
This part gives you a brief overview of the physical item. The list of Good Delivery Refiners are approved by ABX for their international reputation, consistent quality and ability to deliver the product.
The sizes are actually the weight of the bullion product not its dimensions. The weights are displayed in either imperial or metric measurements (i.e. Grams & Kilograms or Troy Ounces).
Fine / Fineness
‘Fine’ refers to when the purity of a precious metal exceeds 91.667% (which is approximately 22 carats). For the above contract example for the 100 gram gold bars,the fineness is at a minimum of 99.99%.
For the detail hungry, if it’s less than 91.667%, the gold bullion would have been referred to as a Standard Troy Ounce. These definitions are hangovers from days of old when we used to ride around clad in metal on the backs of horses whacking each other with swords and maces.
Price Quotation Currency
There are 2 currencies eligible to be used on the ABX; US Dollar and Australian Dollar. The Allocated Bullion Exchange endeavours to have all product items available under both currencies. In this section it tells you which currencies you can trade them with.
Price Quotation Unit
All items are quoted in Troy Ounces, even if their total listed size is metric. The reason for this is that the precious metals silver gold and platinum markets are still led by the West and they quote their bullion in Troy Ounces.
In the not too distant future, China (Shanghai Gold Exchange) will wrestle leadership away from the West and because they prefer metric, you will see this change most likely into Grams.
When you buy or sell any bars, you can specify a price at which you would like the order to be executed. The price can be set at increments (ticks) of $0.01
Minimum Withdrawal / Deposit Quantity
Basically, you will always see listed here the size (weight) of the complete unit of the bullion product you are looking at. You can’t withdraw half a bar or coin because no-one at the ABX is going to saw it up for you. If you want to chop up your gold, you do it in your own time after you've taken delivery of the item. For those considering withdrawing their bullion see our main fees page for the associated costs.