Definitions:





PURITY - The standard of purity for any piece (Could be a coin, bar, or other forms) of silver bullion is .999 pure silver.

That means that .001 of that silver bullion piece is NON-Silver metal and that NON-Silver metal is mostly made up of copper.

So, a coin that is .9999 silver, has more pure silver in it than a coin that is .999 silver.

Now, when you take this survey or read about the purity of metal, you will know what it means.

Unless of course, you already knew.





PREMIUM - The amount of money per ounce that is added to the spot price per ounce.

For example, a dealer will sell you 1 oz of silver for the spot price, plus a premium.

So, if the premium is $2, and the spot price is $20, we will pay $22 for 1 oz of silver.