Information About Refined Gold:
24 Carat Gold?
Firstly, it is almost impossible to economically or commercially obtain absolute
24 Carat Gold would be absolutely pure and before electrolytic refining, highly
gold was usually .9995, ( 99.95%). When converted to carats, this gold would
be 23.988 carats. London
Good Delivery Gold Bars are acceptable at .995 which is "only" 23.88 carats.
Thus, electrolytic refining helped
to create a commercially economic system producing .9999 fine gold or
23.9976 carats. The Royal Canadian
Mint also produces a .9999 fine gold coin, advertised as the world's purest gold
coin at 23.99976
carats. Therefore, it is more accurate to refer to bullion by its metric fineness
than as genuine 24 carat gold.
Almost all of the bars we sell are "Four Nines" = 99.99% pure. This is the
highest purity percentage for a gold
bar which is economic to produce for the investment market. Only the scientific
market would need anything
of greater purity, and the production costs would increase drastically. Most of
the time, we simply
refer to them as "Bullion Bars", and there is no need to specify the purity, as it
is expected to be .9999 fine.
If we were asked whether our .9999 fine Bullion Bars were 24 carat, one could
answer yes or no with equal
accuracy. "Yes" would be correct as any Bullion Bar of 97.9166% or higher
purity is nearer to 24 carat than it is to
23 carat. A mathematician would recognise that this was a matter of "precision",
as numbers can be rounded
to a number of decimal places or a number of significant figures. There is an
implication that 24 can mean
anything between 23.5 and 24.5, but 24.0 indicates anything between 23.95
and 24.05. Similarly a number
written as 24.00 ,24.000 or 24.0000 would indicate a number accurate to the
penultimate decimal place, so that
each of the three numbers specifies an increasing degree of precision. The
answer "no" would be equally
correct but a four-nines bar (99.99% pure), is "only" 23.9976 carats. As
23.9976 is not the same as 24, then the
negative answer is correct. To state the whole truth, it is necessary to explain
that 24 carat gold does not exist
except in theory or possibly in very small amounts in a scientific laboratory.
Carats Percentage Per Thousand Decimal Pronounce
24 100 1000 1.000 Pure or Fine
23.9976 99.99 999.9 .9999 Four Nines
23.988 99.95 999.5 .9995 Three Nines Five
23.88 99.5 995 .995 Nine Nine Five
Minimum .995 - 23.88 Carats
The minimum accepted standard for gold bars to be treated as VAT free
investment gold in the EU
is 995 parts per thousand, equivalent to 23.88 carats.
Team Eurobrand Inc.