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What Is Constitutional Silver? The Pre-1965 Coins Still Trading on Metal

Constitutional silver is US dimes, quarters and half dollars minted before 1965, struck in 90% silver. Here is how it is priced and why buyers still want it.

What Is Mintage? Why Scarcity Matters Less Than Most Buyers Think

Mintage is the number of coins struck in a given year. It matters enormously for collectors and much less for bullion buyers — here is where the line falls.

What Is an Assay? How Precious Metal Is Proven Rather Than Assumed

An assay is the laboratory determination of how much precious metal something actually contains. It is what turns a claim about purity into a fact.

What Is a Market Maker? Who Is on the Other Side When You Sell Gold

A market maker quotes both a buy price and a sell price, always. It is why you can sell metal on a Tuesday afternoon without finding a private buyer.

What Is a Delivery Notice? The Day Paper Gold Has to Become Real Gold

First notice day is when futures holders must declare whether they want metal. It is the one moment the paper market has to answer to the physical one.

What Is Open Interest? Reading Conviction in the Gold Market

Open interest counts contracts still open, not contracts traded. Paired with price, it separates a rally with real money behind it from one that is running out.