GLOSSARY

Fiat money

Refers to paper money that was made a legal tender as per law, but is not backed by metals such as gold/silver.

Field

Refers to the open area or background present on a coin.

Filigree Jewellery

It is a jewellery-making technique involving gold or silver made into tiny beads or twisted threads and arranged in artistic motifs. The wires are often fashioned into lace-like decorations adding charm to the jewellery.

Fine Weight

Fine weight is the metallic weight of a coin or bar, excluding the weight of the alloy metal.

Fineness

It is the purity of a precious metal that is measured in 1,000 parts of an alloy. For example, gold bar with fineness of 0.995 means that it has 995 parts of gold and 5 parts of another metal.

Fool's Gold

This is a phrase used for any yellow-coloured metal that may get mistaken for gold. Many pyrites such as iron pyrite look similar to gold due to their yellow sheen but do not compare to it in terms of value and hence are nick-named as fool's gold.

Futures Price

The price of a particular commodity at a set future date is called the futures price. This price is arrived at by taking into consideration, various parameters such as time till the delivery, the current spot price, risk-free interest rate and storing costs at a future date.