how pure is the gold and silver bullion that people buy?
Most traders buy the ETF's instead of Bullion. It's significantly less costly on; Commissions / Fees Storage Costs Shipping Costs and it's much easier/quicker to buy sell
the GRADE is always written on the Bullion/bar you buy. like - 24, 22, 18, or sometimes 916. 24 is the purest among them. [i guess so]
They come in all purities. In order to be called 24k, it must be 99.9% gold in most countries though in some it's 99.0% gold. The gold bars kept in national treasuries are called Good Delivery bars and must be kept in registered vaults to maintain their Good Delivery status are 99.5% and higher. At 400 ounces nominal weight, and the strict regulations on how they are to kept and delivered, these bars are rarely used for trade. The kilo bar at 1kg per bar is what is normally transferred between banks. The smallest bars are ChipGold where a small chip of gold is sealed and certified in a plastic credit card like card. The gold bars must be kept in certified facilities in order to retain their value, if not than they are discounted to account for the costs of validation. In general the small bars that people buy and keep in their home safe, they'll pay a 4% premium for the gold and they'll sell at a 4% discount for a 8% spread. Just fill up your safe with gold plated brass bars to impress the neighbours.
