Measuring the value of gold: Precious metals basics

The standard gold brick, or bullion bar, contains 1,000 troy ounces.
By , Coin World
Published : 05/12/15
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Gold is valued not only for its beauty, but also for its high resistance to corrosion, its malleability and its longevity. Gold will not readily combine with other metals. It is one of the greatest conductors of electricity.

A cubic foot of solid gold weighs about 1,200 pounds. The standard gold brick, or bullion bar, contains 1,000 troy ounces.

MORE: CoinWorld.com's precious metals basics

The purity of gold is measured in fineness, parts of gold per 1,000. Pure gold is called 24 karat. A small quantity of silver will reduce the yellowish color of gold, and with added quantities it will develop a greenish color. Copper added will deepen the gold color. A pure white alloy is obtained by adding platinum, nickel or zinc; this is called white gold or jeweler’s gold, and can also be produced by alloying yellow gold with palladium.

The above is an excerpt from the eighth edition of the  Coin World Almanac , published by Amos Media Company in 2011.

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