Metals Investing Glossary O-R

Glossary Sections:   A-D  |  E-H  |  I-N  |  O-R  |  S-Z




The front of a coin which contains the principal design unique to a particular coin (the reverse will typically show a national leader).


The right but not an obligation to buy or sell a commodity or security on a specific date in the future.

Option Premium

The price paid for an option is known as the premium.

Option Strike Price

The strike price is a pre-determined price at which an option may be exercised.


The over-the-counter gold market trades a 24-hour continuous basis accounting for the majority of global gold trading. Most OTC trades will be settled using gold stored in London, no matter where the deal may be actually transacted.

Ounce (metals)

In the precious metals industry, what is called an ounce actually means a troy ounce equal to 1.09714 regular or avoirdupois ounces. In metric measurements one troy ounce weighs 31.1035 grams.


The reverse of overbought. A single security or a market believed to have declined to an unreasonable level is referred to as being oversold.



Acronym for Professional Coin Grading Service, one of two pricipal coin grading services in the U.S.


An American unit of weight for gold, where one pennyweight is the same as 24 grains or 1/20 of a troy ounce.

Physicals Market

A market where the physical product is traded. The opposite of a futures market where contracts are traded.


A blank piece of metal which is used for stamping a round, coin or medallion.

Platinum Eagles

Modern platinum bullion coins minted by the U.S. Treasury and offered in 1/10, 1/4, 1/2, and 1 troy oz varieties, consisting of .9995 fine platinum. See Gold Eagles


The dollar amount or percentage a coin or bar sells over its intrinsic or spot value. Premiums are made up of dealer profit, mint profit and mining costs.


A coin produced for the collector market using special dies and planchets resulting in incredibly sharp detail and an almost flawless surface, with mirror-like fields.


An option giving the owner the right to sell a commodity or a financial security on a specified date in the future.



An rising price movement following a market decline. A rally can be short-lived or the start a bull run.


An officially issued reproduction of a former circulated coin, for example the Mexican gold 50 Peso.

Reserve Currency

A foreign currency held by central banks and major financial institutions. Any large international trade in commodities such as gold, silver and oil and iron ore, can be priced in the reserve currency, with other countries being required to hold reserves of this currency to pay for these goods.


The rear side of a coin and opposite of obverse.


Shorthand for 1oz silver rounds. Silver rounds are privately-minted .999 fine silver circular pieces of silver of a similar size to a silver dollar.