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The essentials private buyers ask before their first allocated bar.
Troy ounce
Bullion is quoted per troy ounce (31.1034768 grams) — heavier than a kitchen ounce. Kilograms and grams are conversions from that benchmark.
Karat vs fineness
24K is pure gold. 18K is 75% gold. Investment bars are usually 999.9 fine; coins may be 916.7 (22K) with a higher premium.
Spot vs premium
Spot is the wholesale reference. The price you pay is spot plus a premium for fabrication, distribution, and liquidity. Always compare premium — not sticker alone.
