Curious About Fine Gold? All You Need to Know

Curious About Fine Gold? All You Need to Know
Posted on March 18, 2024 by BOLD Precious Metals
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In the bustling streets of the charming city of Dallas, three friends, James, Williams, and Emma, meet for a coffee after a month. The cozy café atmosphere is filled with the aroma of freshly brewed coffee beans. When they discuss how to manage their money with their new jobs, they land on the topic: Fine Gold.

“Hello, Welcome to BOLD Precious Metals. How may I assist you?” “What Kind of Gold Coins are you looking for— Fine Gold Coins or Vintage Gold Coins?”

Emma’s inquiry with a renowned precious metals dealer in Texas blinked everyone’s eyes with a curiosity and raised a question: “What’s fine gold?”, We know about vintage gold a little bit from TV Shows, but what’s fine gold in a literal meaning?” All were quite eager to learn more about it and started researching it on their phones!

    What is Fine Gold?

As the coffee and their food arrive at the table, James, William, and Emma are all set for a new, sparking discussion on the fascinating world of fine gold.

So Emma began, curious, “I have always been curious about gold investment! And now that lady on a call said fine gold, I only know about the 24-karat gold. But how does gold come to be?” She said, “Now that I’m in my 20s, I seriously need to understand all things fine gold for investment!”

What is Fine Gold

"Gold is a remarkable metal," James replied, having a sip of his coffee and searching on his phone, “It takes thousands of years for geological events down in the Earth's crust to generate it. As time passes, the earth's crust shifts, bringing previously underground gold reserves nearer to the outermost layer.”

"I agree," William said with a nod. “And did you learn that even though gold is scarce, it happens to be one of the most commonly used metals worldwide?"

Emma’s interest was raised. “Oh, and what do people use it for?” “Only jewelry?”

“Cool, that’s going to be interesting.” James smiled and said, "Gold has different uses, with the majority of them falling into three distinct sectors: jewelry, investing, and industrial use."

"Jewelry covers around half of the global demand for gold," William added, reaching for a pastry. "Its lustrous beauty and timeless appeal have made it a symbol of love, wealth, and status for centuries."

Emma nodded. “Ah, okay, and what about an investment perspective? I’m thinking of investing in gold coins and bars. I mean, I want to invest at least 7-10% of my salary in gold like my parents used to, and now the gold they possess has a quite good market value!”

This small chatter started in a café going quite well and in depth now.

And interestingly, everyone is curious. After all, all are in their 20s now, and this is quite the right time to invest in precious metals like gold.

Emma continued, “ My parents bought gold in the 90s, and now they have a huge value for it.” I think they bought fine gold for an average of $386 per ounce on the spot price in 1990, and now, in 2024, it's $2149 per ounce of fine gold.” “It means 456.42% of the straight price increase from 1990 to today,” she said while calculating.

“That’s huge!” William chimed in. Gold also has industrial properties, like being resistant to corrosion and having good conductivity!”

“Certainly,” Emma agreed, sipping her no-sugar bitter coffee. “But what sets a fine gold apart from the rest, and what’s the difference between 24 and 22 karat gold?” “What is its production process, and who decides its purity?”

Amidst the lively café atmosphere, James, William, and Emma absorbed themselves into the nuances of fine gold, aiming to understand its true character and value. Here’s what they explore on BOLD Precious Metals’ website!

    What is Considered Fine Gold??

Fine gold, which is also referred to as pure gold in general terms, has a purity of .9999, as with many gold bars and coins like American Buffalo and Canadian Maple Leaf coins.

Fine gold can be as low as 99.5% pure. Gold having a purity of 99.9% is also called .999 or 24 karat gold.

KaratsParts of GoldGold Purity In %Fineness
88/2433.3333
99/2437.5375
1010/2441.7416/417
1111/2445.8458
1212/2450500
1313/2454.1541
1414/2458.3583/585
1515/2462.5625
1616/2466.6666
1717/2470.8708
1818/2475750
1919/2479.1791
2020/2483.3833
2121/2487.5875
2222/2491.7916/917
2323/2495.8958
2424/2499.9999

Fine gold is the definition used for the highest gold purity in the market, which is graded using a scale of millesimal fineness. It means the number of parts per thousand of pure metal in the alloy. Intricate jewelry cannot be made at such a fineness, but investment-grade gold coins and bars can be.

In the gold investment market, .9999 (four nines fine) gold is regarded as the finest and purest since it meets the standard requirements. Notably, however, even gold with a purity of .995 or .999 is referred to as fine gold. It is nearly impossible to make gold, which is 100% pure, due to its alloy nature.

So let’s check out what other terms are used to denote the fine gold:

  • Fine gold 999
  • 999 fine gold
  • 995 fine gold
  • Fine gold 999.9
  • Fine .995 gold
  • 999.9 gold
  • .999
  • .995
  • .9999
  • 99.99%
  • 99.9%

How fine gold grades vary by mint or maker. Gold pricing typically depends on purity. It is an alloy composed of many metals or metals and other less pure substances due to the additional non-metallic components or metals.

These three factors are significant to consider when you are looking to invest in fine gold:

  • Fine gold is usually 99.9% pure. However, there is considerable flexibility in defining what defines fine gold.
  • The purest form of gold obtainable today is 999.99, frequently referred to as five nines fine.
  • The most common fine gold grade is .999, or three nines fine, which is regarded as being close to 100% gold in purity for use in commerce.

If you are still confused about the fundamental differences between pure gold and fine gold, you can learn more about both below:

TypePurityParts Per ThousandDescription
Fine Gold99% or More999
  • Fine gold is highly pure gold, typically comprising 99.9 or more gold! It is frequently stated in parts per thousand, with "999" indicating 99.9% purity.
  • Fine gold is prevalent in some jewelry, investment-grade bullion, and commercial applications requiring high purity.
  • It can contain trace impurities.
Pure Gold100%1000
  • Gold with a fineness of 1000 parts per thousand is 100% impurity-free.
  • Pure gold is too soft and malleable for jewelry and other durable uses.
  • Pure gold jewelry is unusual owing to its delicacy and fragility.

In a nutshell, both gold purity are the highest purities. Nevertheless, ‘fine gold’ has minimal impurities, and ‘pure gold’ has absolute purity without a tiny amount of other alloys.

We will also discuss Emma’s questions, “Where does fine gold come from, and why do investors desire this gold?” Emma has quite a number of questions, but we're certain you're also intrigued by them!

    Evolution of Fine Gold

Evolution of Fine Gold

As gold has a remarkable history from ancient times; it has also undergone an outstanding evolution. Gold’s history goes back a long. Yes, we are talking about 4000 B.C.! Our ancestors must have stumbled upon these glittery yellow metal flakes blowing their minds! Since then, gold has never lost its allure, symbolizing riches and status in all civilizations.

Geologists are real treasure hunters who have revealed many such gold currencies by studying ancient rocks and unearthing the oldest stuff. Egypt and Mesopotamia excelled in trading gold bars for jewelry. Gold bars remain fashionable even now, with stunning hallmarks indicating their provenance and grade.

Talking about the USA itself, the California Gold Rush famously denotes the period of 1848-1855, significantly impacting the country's population and growth. There was a gold rush worldwide, but this one comes in the first place!

And here’s a fact:Gold has actual practical uses! It was used as a currency back then and for trading in kingdoms. Even today also, gold’s value is tied to the US dollar. Between 1879 and 1933, the US gold standard guaranteed the exchange of paper money for gold. President Nixon eventually renounced the scheme in 1971, bringing the United States into the fiat currency period.

Gold has changed throughout time, from its initial applications in ancient cultures for ornament and business to today's status as a standard measure of riches and a key element in global economies.

The price of gold rose as its purity increased. With the evolution of the contemporary world, gold has become an essential commodity for investment, with gold coins and bars becoming part of people's wealth.

    How have Popular Modern Fine Gold Coins Evolved Over Time?

Throughout the years, prominent coins around the world evolved with their purity, minted with modern technologies and market demands.

  1. 1957:Back in 1957, Perth Mint stunned the world by making the “purest gold plate”! It was commercially available, and the fineness of it was: 999.999. These were the absolute high standards for the industry.
  2. 1967:In 1967,the South African Mint started minting gold coins, Krugerrands, with a purity of 91.67%. Though it faced few economic sanctions from several countries in the 1970s to 1980s, Krugerrands maintained their popularity.

  3. 1979:To give tough competition to Gold Krugerrand coins, the Royal Canadian Mint started producing Gold Maple Leaf coins with a purity of .999, meaning 24 karats of pure gold.

  4. 1982:Not content with only one size, the RCM added a few more gold coin sizes with a tremendous purity of .9999 (four nines). Since then, Maple Leaf Gold Coins have continued to thrive.

  5. 1986:1986 was a milestone for the US gold market in terms of high purity gold and a tussle with a few existing gold coins! The US Mint introduced American Gold Eagle Coins. Though their purity is .9167, they took over half of the global market. American Eagle Gold Coins are made entirely of gold mined in the United States, giving them a stronger connection to American soil.

  6. 2006:Here comes the milestone move! The American Buffalo Gold Coins were created under the Presidential $1 Coin Act. They have a purity of .9999, meaning 24 karat pure gold. Plus, they have a traditional design of a Buffalo Nickel with a Native American head featured on it.
  7. 2007:Maple Leaf Gold Coins broke their own records in 2007 when they were created with .99999 pure gold! That’s close enough to pure gold.

Who knew something as valuable as gold could have such a wonderful evolution? From .917-pure gold to the Gold Maple Leaf’s .99999-fineness, gold and gold coins have had an interesting journey of innovation and competition that makes them even better for humankind!

    Evolution of Fine Gold Prices

The gold price per ounce fluctuated between 2000 to 2023. The 2000 average cost was $279.29, ranging from $263.80 to $316.60. In 2023, the price averaged $1,943.00, with highs of $2,115.10 and lows of $1,811.27.

Fine Gold Price Evolution

    Production Process of the Fine Gold

While discussing fine gold and its each aspect, it becomes mandatory to discuss the production process. From mining to refining, each process is complex yet fascinating.

  • Finding and Prospecting Gold: Geologists find the high potential gold areas and collect the samples for analysis.
  • Mining: According to the gold characteristics, different methods of mining, like underground, open pit, etc., are employed
  • Extraction: In this step, rock is crushed into the slurry where gold is extracted with the carbon.
  • Smelting: Gold-laden carbon is melted at 2,100°F to remove the impurities.
  • Refining: After smelting, it goes to refining for the later step of purification to achieve the highest purity from 91.17% to 99.99% of purity.
  • Casting and Minting: Once the highest purity is achieved, molten gold is poured into the bar-shaped molds where hefty weighted ingots are made from which minted gold bars or gold coins are made.
  • Assaying: This method includes testing the final product’s fineness through fire assay methods like cupellation.

    How the Fineness of Gold Affects its Color

The colors of gold are decided by the alloying process, where pure gold is mixed with additional metals. Richer colors are produced by increasing the karat level, and particular metal inclusions provide striking hues like white, rose, and blue gold. The physical features of gold, like its hardness and resistance to corrosion, are influenced by the alloying procedures.

Please note that these gold color hues are for specific jewelry and not for investment-grade bullion bars and coins. Depending on the purity levels of the gold it changes colors. As gold bars and coins are made of fine gold, their color doesn’t change much.

So, how much fine gold you possess will determine its gold color! So the next time you come across gold, examine its purity and hue. This can be a fun little quiz for you.

Refer to the following table for numerous combinations of gold and other metals and their colors:

Colour of GoldAlloyComposition
Yellow Gold (22 kt)Gold91.67%
Silver5%
Copper2%
Zinc1.33%
Red Gold (18 kt)Gold75%
Copper25%
Rose Gold (18 kt)Gold75%
Copper22.25%
Silver2.75%
Pink Gold (18 kt)Gold75%
Copper20%
Silver5%
White Gold (18 kt)Gold75%
Platinum or Palladium25%
Palladium10%
Nickel10%
Zinc5%
Gray-White Gold (18 kt)Gold75%
Iron17%
Copper8%
Soft Green Gold (18 kt)Gold75%
Silver25%
Light Green Gold (18 kt)Gold75%
Copper23%
Cadmium2%
Green Gold (18 kt)Gold75%
Silver20%
Copper5%
Deep Green Gold (18 kt)Gold75%
Copper19%
Aluminium6%
Blue-White or Blue Gold (18 kt)Gold75%
Iron25%
Purple GoldGold80%
Aluminium20%

    Who Certifies the Fine Gold?

If you are considering to invest in fine gold and still wondering if it is the right purity of the gold, assay certifications come to the rescue!

Who Certifies The Fine Gold?

So whether your purchased gold is fine or not, you can check that it has been certified by various organizations like NGC (Numismatic Guaranty Corporation), PCGS (Professional Coin Grading Service), various mints, government entities, and international associations like LBMA to ensure the gold’s metal content, genuineness, and quality. This method gives collectors and investors assurance about the bars’ and coin's authenticity and worth. All of these assayers certify only bullion coins and bars.

In the USA, certifying jewelry is not mandatory by law, yet the maker or producer can hallmark their jewelry. You can use ‘PMV Devices’ available with the BOLD to check the purity of coins, bars, or jewelry.

Let’s Check Out the Key Certifiers and Organizations Assaying the Gold Purity:

  • Assay Offices:Several countries have assay offices, like the UK and a few European countries. These offices certify the gold's purity and authenticity after testing.
  • Refineries:Many renowned refineries like Valcambi and Royal Canadian Mint certify the fine gold they make. Their gold bar inscriptions and assay certificate information are exactly the same.
  • Banks and Bullion Dealers:A few esteemed bullion dealers and banks authorize the fine gold coins and bars.
  • Associations:As discussed above, associations like LBMA(London Bullion Market Association) have a crucial role in the world gold market. They maintain quality standards for the gold bullion bars popularly known as ‘Good Delivery’ gold bars.
  • Government Mints:Government mints like the US Mint, Perth Mint, and British Royal Mint guarantee the weight and purity of the gold and silver products.

     Why is Fine Gold Used to Make Bullion?

Who doesn't love gold being gold? When we think of gold, we picture glittery, yellow, large gold chunks or ingots. Gold bullion, whether in the form of coins or bars, is made from similar fine gold.

Fine gold means it has the fewest impurities! And because it is so pure, its value is proportional to the current spot price . Furthermore, pure gold is a very soft metal, and its jewelry production is complex due to its high purity. Gold requires the addition of other hard metals in order to be transformed into jewelry. However, its softness isn't an issue when making bullion.

So, you might understand why gold bullion is made from fine gold. Well, it's all about the exceptional purity and malleability!

Not to forget, you get pure gold, which means you have a real bullion to invest. It is like a gold standard of gold!

    Bullion Bars and Coins Made of Fine Gold

Gold, bullion coins, and bars are pretty popular investment options owing to their intrinsic value and highest purity. Esteemed mints and refineries produce them as per the market demand.

Gold bars come in various weights, starting from 1 gram to 1 oz and larger weights from 5 oz to 1 kilogram, with purities of at least .995 to .9999. Various renowned dealers offer these gold bars, selling them above the spot price of gold, which covers their expenses and profit. You can check out and buy these gold bars with BOLD at the lowest premiums in the market.

On the other hand, gold coins are generally backed by the government as the government mints produce them. Their weight and purity are guaranteed by the mint. They are made for investment as well as collectible purposes. They are legal tender and have a face value.

Whether you purchase gold coins or bars, always check their purity, assayer’s mark, certificate of authenticity, liquidity, and storage options. BOLD Precious Metals has a vast array of fine gold 999.9 coins and bars from reputed mints. We also recommend seven reliable depositories for your bullion storage options.

Top 5 gold coins highly valued by investors and collectors according to their purities are:

ProductMintPurity
Canadian Maple Leaf Gold Coin Royal Canadian Mint.9999 (24 Karat)
Australian Kangaroo Gold Coin Perth Mint.9999 (24 Karat)
Austrian Philharmonic Gold CoinAustrian Mint.9999 (24 Karat)
American Eagle Gold CoinUnited States Mint.9167 (22 Karat)
South African Krugerrand Gold CoinSouth African Mint.9167 (22 Karat)

Its worth noting that Canadian Maple Leaf coin is also struck in .99999 (five nines) and .999999 ( six nines) fineness by the Royal Canadian Mint breaking a record in the coinage history. These are the ultra-pure versions of gold coins that have face value in millions of dollars! That’s unbelievable!

Top 5 Gold Bars Sought After by Investors:

ProductPurityAssay Certificate
Credit Suisse 1 oz Gold Bar0.999Yes
Valcambi Suisse 50 gram Gold Bar0.999Yes
Pamp 5 Gram Gold Bar0.9999Yes
Perth 10 Gram Gold Bar0.9999Yes
Rand Refinery 100 Gram Gold Bar0.9999Yes

All these above gold bars and their mints are known for their purity, authenticity, quality, and popularity. Individuals looking to invest in fine gold 999.9 sought after these bullion bars. You simply need to have a keen eye for quality when making solid investments.

    How to Identify Fine Gold?

Determining the right purity and authenticity of precious metals has been quite a headache for collectors, investors, and precious metals enthusiasts. Recognizing whether you possess fine gold 999.9 or 99.9 is crucial, as it can secure your collections and portfolios from counterfeiting. One must ensure such purity levels of all precious metals.

Here are some easy ways to check the purity of your gold:

  • Check out for stamps or hallmarks like "24k" or .9999 fineness to denote the purity level of gold items and their authenticity.
  • Perform an acid test with vinegar; true gold will not change color. Take a magnet test; high-purity gold is not magnetic and will not cling to a magnet.
  • Purchase precious metals verifier devices like Sigma Metalytics, which will give you detailed metal analysis.
  • If you are still wondering if you have fine gold, seek an expert’s help.

Sigma Metalytics Precious Metal Verifiers

BOLD Precious Metals offers Sigma Metalytics Testers, which are revolutionary tools for determining whether your precious pieces are genuine or not. These PMVs can detect the purity, metal composition, and authenticity of the metals. They penetrate electromagnetic waves accurately to the metal surface without even harming the piece.

With multiple types of metal detectors, these devices give faster and trustworthy outcomes. You can readily check legitimacy by choosing a metal type and seeing the resistance levels presented on the device. To have peace of mind and know that your investments are of high quality, the Sigma Metalytics Tester is an essential tool for discerning collectors and investors.

    Why Fine Gold is a Superior Investment Option Compared to Other Gold?

Fine gold, also called fine gold 999.9 or 24k gold, has the highest purity, meaning it has 9999 parts per thousand. This high level of gold purity and investment value make them superior investment options to other gold. Even if the gold is .999, it is considered fine gold in the market.

As the coins and bars made of high purity gold are minted by esteemed government mints or renowned private mints, their worth increases in the market.

Why Fine Gold is a Solid Investment Choice?

  • Stability:Fine gold hedges hyperinflation and economic unpredictability.
  • Liquidity:Its liquidity allows buyers to purchase and trade gold quickly, providing money whenever required.
  • Value Appreciation:It may provide future financial growth due to its intrinsic growth.
  • Portfolio Diversification:It may reduce volatility and balance holdings.
  • Legal Tender:High purity gold can be a legal tender and eligible for Gold IRAs, making it a desirable investment and retirement plan option.

The above is a simple explanation for why one should choose fine gold over other options. The highest purity, minting methods, stability, ease of trade, IRA approval, and wealth creation make it a more appreciative metal.

    Where Can You Buy Fine Gold Products?

Emma's first inquiry and interest in investing in fine gold should have made it apparent that you should acquire it only from reliable dealers like BOLD Precious Metals!

At BOLD, we offer an extensive array of fine gold bullion coins and bars at the lowest premiums. We believe in giving you an unmatched value without compromising quality. As we have been serving for over 8 years, we pride ourselves on our trustworthiness and integrity with our customers.

Whether you are exploring the best fine gold coins or bars to invest in, we have bullion products from popular private mints to revered government mints like the US Mint, the Royal Canadian Mint, and so on. We have something for everyone! We are an authorized dealer of the Perth Mint, Germania Mint, Scottsdale Mint, etc., offering the lowest prices in the market.

Read our ' Investing Guide' to know more about fine gold and other precious metals.

“Fine gold is not just a commodity; it is a wise investment choice!”

    FAQs

1. How much is 24-karat gold worth?

The current 24k gold worth is around $2180 per ounce as of March 8, 2024. The spot price of the 1 oz fine gold keeps fluctuating. You can check the chart below for updated gold prices today: per gram, per ounce, per kilo, and tola.

2. Is fine gold 24K?

Yes, fine gold is 24k, which means it is the purest form of gold with a millesimal fineness of 999 or greater. This higher purity signifies the importance of investing in pure gold.

3. Which country has the purest gold in the world?

Countries like Switzerland, the USA, Dubai (UAE), and Australia are some of the well-known countries that have the purest form of gold. Their investment grade bullion are the most popular worldwide. Many such countries offer the purest form of gold. Gold purity depends on the market demand, regulatory standards, mining practices, etc.


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