If you have invested or collected precious metals, you may have come across assay cards and certificates of authenticity. Knowing these terms and their importance can help you make informed decisions when investing in precious metals. To better understand the significance of assay and certificates of authenticity, let us first address a few common questions about precious metals, such as what bullion is and their types.
Bullion is a valuable commodity made from precious metals in various shapes and weights. Its value is determined by the precious metals content and purity rather than the form of the product. The government certifies bullion, which consists of gold, silver, and platinum-like precious metals that meet a certain level of quality and purity, usually .995 or .999. It is commonly found in bars or coins and is a long-term financial investment and a tangible connection to history. Bullion represents exceptional craftsmanship and offers a unique way to preserve wealth, appealing to investors and collectors.
There are various types of gold and silver bullion available in the market. While jewelry is valuable, it is not always intended for investment purposes. Even though these items may hold considerable bullion value, they may need to possess the precise weight and purity markings that investment-grade bullion items have.
Bullion bars or ingots are a common and uncomplicated way to invest and store precious metals. Gold and silver bars are available in various weights, ranging from 1-gram gold bars to silver bars that weigh up to 100 ounces. The most preferred bars usually weigh 1 ounce in gold and silver due to their affordability, but different weights are also well-liked, mainly when it comes to silver. The bars' benefits are that they are simple to stack and typically have a lower premium over the spot.
Gold and silver bullion coins have always been famous for their precious metal content. Gold and silver bullion coins are produced by governments and are considered legal tender. While the face value of these coins is usually lower than their gold and silver content, their value is determined by the precious metals they contain and their rarity, design, and historical significance.BOLD Precious Metals offers the American gold Eagle and Silver Eagle coins, the most prominent examples of these specific issues in the US. Other countries also produce similar investment-grade bullion coins; the Australian silver Kangaroo and the Canadian gold Maple Leaf are available at BOLD.
Rounds are comparable to coins in their physical form but lack a denomination and are not produced as legal currency by any government. Most high-quality rounds are composed of copper or silver. Collecting and investing in silver rounds can be fun, as they come in diverse designs. BOLD offers some of the most popular silver round designs, including the 1 oz Buffalo round, 1 oz Aztec Calendar, and 1 oz Morgan round.
An assay is a way of analyzing and examining precious metals, ores, and alloys. Its primary function is to verify that all the bars or coins produced in a mint adhere to the appropriate purity guidelines and content, particularly for valuable metals such as gold and silver. For instance, if a mint claims a gold bar has .999 purity, an assay must verify that all the gold minted in that batch meets those standards.
Assaying was a general practice when gold and silver coins were commonly used for transactions, as with the silver half-dollar. Even though most countries, including the United States, no longer use fully gold or silver coins for trade and commerce, the procedure remains crucial. For example, maintaining content purity is essential in creating silver and gold bullion, coins, and special releases.
Assaying processes vary depending on the metal or item being checked for purity. To obtain a sample, the assayer drills into the metal to collect shavings or takes a sample from the molten metal before it is formed into a bar or coin. After this, the assayer has a range of options available. The following are the most frequently used assaying processes:
Determining the purity of a precious metal's composition was one of the initial techniques utilized, and fire assay was one of them. An equivalent amount of gold and silver is used in a disposable crucible or cupel to find the amount of non-precious or impure metals.
Dry assaying applies to silver and gold. Chemical cleaners called fluxes are heated in conjunction with the metals. As a result, a mixture of contaminants is produced, eventually resulting in slag. The purest forms of the precious metals settle to the bottom as they separate during the process. The slag is removed as the mixture cools, exposing the metal for comparison and weighing.
In this method, the sample is dissolved by solvents. The assayer uses a chemical analysis of the solution left over from this process. Assayers can employ electrolysis or salts to separate the metal or ore, depending on what it is.
The sample must emit light to perform spectrographic assaying. When the assayer runs an electrical discharge through the sample, this happens. Assayers can determine the sample's metal composition by observing the light the sample emits and adjusting for strength and intensity.
In this method, the metal produces X-rays by emission. This necessitates exposure to an X-ray beam. Based on the strength of the metal's X-rays, the assayer evaluates the metal.
Assaying different metals requires different methods. Silver is usually assayed through titration, while gold is assayed through cupellation. The most commonly used method for analyzing the purity of platinum is through ICP OES, which stands for inductively coupled plasma optical emission spectrometry.
Assaying is crucial because purity is important for gold, silver, platinum, palladium coins, bullion bars, and pieces. Assaying precious metals is mainly done to ensure that they fulfill the specifications required for a particular coin or bar or the criteria set forth by the mint. Much like the Trial of the Pyx, the practice has a long history, a ceremonial assaying method currently employed by the Royal Mint. It put honesty and purity to the test.
A Certificate of Authenticity (COA) and an assay certificate or card have similar characteristics. Usually, it's a seal or sticker or card on or with a valuable bullion product. The seal verifies the coin's or bullion's authenticity and is typically seen on a document or the real certificate.
Nevertheless, a COA does provide essential details such as a purity certificate and an endorsement. A maker's mark and details regarding its weight and fineness are usually included. A COA is not given to specific products for a variety of reasons. They might arrive in large quantities or with an assay, in which case a COA might not be required.
In the context of precious metals, an assay is a test process used to analyze and quantify a metal's fineness by examining its composition in ores, alloys, and precious metals. Determining how much precious metal is in a mineral deposit is crucial.
An assay card lists a precious metal product's weight, purity, and metal content. It contains the products in a covered plastic or cardboard container. The card has a distinctive serial number that identifies the product. Assay cards ensure the bullion is authentic and top-notch for buyers.
A certificate of authenticity (COA) verifies the item's validity. It is issued by the manufacturer or a third-party grading agency and contains details about the product's origin, value, and authenticity. COAs are more detailed than assay cards and may have test parameters and standards based on regulations, making items more straightforward to track.
In conclusion, an assay card reports the weight, purity, and metal composition of precious metal bullion. In contrast, a COA verifies its validity and offers extra details on its source, quality, and legitimacy.
Certain bullion pieces—such as those sold in bulk—may not come with a certificate of authenticity (COA) or may come with an assay in its place.
In the precious metal industry, having Assay Cards and Certificates of Authenticity available for buyers is paramount. These documents assure buyers that the precious metal they purchase is genuine and has the stated purity. Additionally, these documents play a crucial role in maintaining the integrity of the precious metal market. BOLD offers a wide range of gold and silver bullion options with an Assayer’s Card and Certificate of Authentication.
At BOLD, you can get legitimate gold and silver bullion for your investment needs at the best prices and with satisfactory customer service.
Affiliations
Copyright BOLD Precious Metals 2024
