Specification
Draft — not yet reviewedReading a metal specification
Format, weight, fineness and documentation: the four parts of a gold specification that matter commercially.
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A precious-metal specification is not one number. It is a set of attributes that together describe exactly what is being bought or sold, and each attribute carries commercial weight.
Format and weight
Format describes the physical unit: a bar, grain, or another divisible form. Weight expresses how much metal that unit contains. Both are needed, because “one bar” means very different things depending on whether it is a kilogram bar or a one-ounce bar.
Fineness
Fineness states the proportion of precious metal in the material, usually expressed as parts per thousand. It should always be attributable to a stated method of verification rather than presented as an assumption.
Documentation
Documentation is the evidence that travels with the metal. What is provided, and by whom, is part of the specification rather than an afterthought, and should be agreed before a transaction is confirmed.
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