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MASTER FINANCIAL GLOSSARY

AAA

A - Class A stock shares; symbol denoting mutual funds with a front end fee

AAA - American Automobile Association

AAA - Bond rating, highest investment grade

AB Trust - A vehicle for management and distribution of real and personal assets upon death of the owner.

abc - (Elliot) wave action; a common formation in the technical analysis of chart price. [TA]

Abrasion index - measures how abrasive a rock type is with respect to either wear and tear on grinding
equipment or wear by frictional forces such as wave action.

Absolute Breadth Index - The metric that uses an advance vs. decline model to monitor market volatility. [FA]

Absolute Price Oscillator - The technical indicator developed by subtracting a longer moving average from a shorter moving average, expressed as a ratio. [TA]

Abutment - The longwall, and the weight of rock above the wall, transfer their weight to strips of rock along the wall - serving as the abutment.

Acetate - Modern coin holders, such as manufactured by Dansco, have acetate slides - a type of plastic that allows you to see the coins in the holder slot through the slide while protecting the coin from atmospheric and chemical damage.

Acidic - Water with a pH under 7.0 (the pH of water). Only water based materials have a pH, therefore oil does not have a pH.

Acidic Rock - Those rocks, usually igneous, that either have a very high silica content, or produce acidic water runoff or bearing through strata.

Acid (mine drainage/runoff) - When water running out of a mine or over tailing ponds or waste dumps picks up materials such as sulphides, pyrites, or other similar ore in an amount large enough to lower the pH. Acidic run-off is a major environmental consideration.

Accelerated Cost Recovery System - A system where depreciation is increased over a set period of time.

Accelerated Depreciation - Recovery in the cost of an asset going down over time by taking deduction against income (larger in earliest years) [Acct.]

Accounting Rate of Return - The calculation to determine the amount of income a project will produce over its full span. [acct.]

Accounts Payable - Current liabilities to suppliers. [Acct.]

Accounts Receivable - Current assets measured as those purchases still owed by a customer. [Acct.]

Accredited Investor - Investors who have both the financial wherewithal and reserves to trade without various SEC protections/restrictions.

Accrued taxes - Current tax liability; what is owed to local, state, and federal governments.

Accrued wages - Current wage liability, what is owed to workers via contract.

Accumulated profits - Retained income and earnings plus undistributed profits.

Accumulation/distribution - The ratio of buyers vs. seller for an instrument. The [TA]

Accumulation/Distribution Index -Calculated as a cumulative total of each day's reading. Constructed as closing minus opening price/days range multiplied by the daily volume. [FA]

Acid drainage - when rainwater reacts with existing sulfides in waste rock such that runoff exhibits acidic characteristics (pH below 7, typically below 5).

Acid Test - The determination if a company or other concern has more assets (not counting inventories) than liabilities. Measure of ability for company to service debt.

Active shaft - The working shaft, or any other mine location where workers travel, congregate or work. These active mine areas have higher safety criteria than other non-active areas.

Activity Based Budget - One based upon activity type rather than previously allocated funds.

Adhesion Contract - A legal agreement between two parties with unequal bargaining positions; presented by one party without room for negotiation and signed by the other party without recourse.

Administrative Council for Economic Defense - An independent Brazilian agency responsible for implementing various trade conventions and protections. [Brazilian]

Adjustable Peg - In the current BIS exchange rate system, any given country's currency exchange rate is pegged to all others in the basket. That is, they rise and fall in relation to each other via market trading, though an 'official; (read: 'make-believe') rate is established by the governments.

Adjusted Cost Base - New tax basis due to change in income or other factors.

Adjusted Gross Income - The gross income minus all exemptions and write-offs leaving the remaining taxable income. [US tax]

Adjustable-Rate Mortgage - Rate of interest on the principal change according to changes in the prime rate. [RE]

Adjusted Funds From Operations - Cash available for distribution to pay dividends

Adjusted Present Value - The value of any concern expressed as equity plus tax efficiencies of short term debt.

Adit - A horizontal boring that either allows access to a mine ore body or access into another boring, or shaft, that access the mine ore body, or dewatering, or delivery of personnel or materials, etc. If an adit runs completely through the hill (you can see daylight on either side), it is then a tunnel.

Adularia - A type of translucent monoclinic feld

After Tax Operating Income - The net realized profit after taxes are paid.

Advance/Decline (Ratio)- The ratio of stocks rising in price vs. those falling in price over a given time period, typically in one trading session. Used as an indicator of market internal health. [TA]

Advance Refunding - Issuance of new refund bonds prior to the call date of the original bond debt.

after hours

Ad Valorem Tax - Based upon property value

After Rebate - Net cost after various rebates are refunded [Retail]

After Repaired Value - Net value of an instrument, such as a house, after previously identified deficiencies are corrected.

Ag - silver [elemental]

Agency Backed Security - A derivative type of security entity where a pool of assets is backed by an organizations ability (typically government) to raise further funds from future taxes or bonds and thereby keep the ponzi scheme going.

Agency Trade - A trade initiated by a dealer rather than a retail customer.

Aggregate Risk - The total market exposure of all risks inherent to your position.

A.k.a. - 'also known as'; a synonym

Al - aluminum

All Inclusive Deed of Trust – A deal, shady and potentially illegal, where a Deed of Title is filed without notifying the lender.

All-or-None - A market order executed only if able to be filled in total.

Alloy - A mixture of more than one metal. The naming convention typically uses the name of the most predominant or valuable metal in the mixture, for example, such as 'cupro-nickel' or 'nickel alloy'.

Alpha - Risk-adjusted performance coefficient. The difference between an asset's expected return and actual return, where the expected return is a function of the asset's Beta. Positive alpha is called either 'abnormal' or 'extraordinary'.

alpha-numeric - The system of numbers and letters

Alternative Minimum Tax - The methodology to ensure people must pay some taxes even when using numerous exemptions and write-offs. There are some AMT calculators (Actually, an IRS form) used to determine if you will be penalized via the AMT. Generally, dividends, Capital gains, real estate, high state income and property taxes hurt the calculation (force you into AMT). Other expenses claimed on schedule A hurt. Not having kids helps.

Specifically, of course, only the CPAs and the IRS can understand how the form works. If the CPAs cannot figure this out on a sheet of paper, neither can you. Ever wonder why? Because neither the IRS nor the CPA want you to be able to do this on your own. Best to keep you a captive audience of the IRS Corporation and CPA bloc. Many centuries ago Hammurabi figured out that laws which could not be understood by those governed by the laws were not valid.

American Association of Individual Investors - A for-profit investors support service and network. [FA]

American Banking Association - A lobbying, action committee and support network for financial institutions.

American Depository Receipt - A statement that represents bundled shares of a foreign stock purchased, not the actual stock itself. When stock shares of a foreign-traded company are purchases, a bank or brokerage actually sells certificates denominated in US Dollars representing the price of the stock transaction.

American Depository Share - One unit of an ADR. [Trading]

American Institute of Architects - Trade Organization.

American Institute of Certified Public Accountant’s - Trade Organization. [Acct.]

am - Adjustment marks; light surface filing performed at the mint to reduce an overweight planchet.

Amalgated Corporation - Under the Ontario Business Corporations Act (Can.), corporations created by the combination of two or more other corporations under a Plan of Arrangement.

Amalgation - Blending metals. Amalgamation is absolutely fascinating! Think of it this way, you are trying to marry two metals, and can use any way to get them to stick together except temperature. So, does pressure count?!?! Amalgamation is both chemical (alloidial) and physical (partition, adherence, adsorption, absorption). Ah yes, mercury and gold – battle of the two grandest metals.

AMF - l’Agence nationale d’encampment du secteur financier

American Options - Options that can be exercised any time on or prior to expiration date.

American Exchange - A US bourse (AMEX);

American Express - [US Co.]

American Eagle - Bullion gold or silver coin produced by US Mint.

American Standard Code for Information Interchange (ASCII) - The standard code used to transfer data between systems.

American Swaptions - A contract that allows the the owner to enter into the swap on any day within a pre-set range of two dates.

American Uniform Commercial Code - Sets or parts of laws adopted by every US state to promote uniformity amongst commercial and business transactions.

Amortization - The reduction of debt via systematic payments that fully pay accrued interest and partial principal.

Anchor - A large retail tenant that serves as the primary draw in a strip mall.

Annealing – This process is used in metal working to heat and temper metal into a less brittle form for working and molding.

Annual Debt Service - The yearly total outlay required to payment interest and principal on long-term debt.

Annual Equivalent Rate - Percentage paid over a term shorter than a year, but approximating the annual compound rate.

Annual Percentage Rate- The one-year rate that is charged on borrowed or margined money. Expressed as the monthly rate x 12. [Fin]

Annual Percentage Yield - The APR including compound interest. [Fin]

Anticipation Note - A short term financing vehicle offered by an entity in advance of an imminent and much larger issue. The issuing corporation or municipality anticipates that the revenue from the larger bond will cover expense of issuing the shorter term note.

Application Program Interface - The platform that computer systems or similar applications provide to allow requests for service by other computer programs; also the platform to exchange data between them.

Arbitrage - When one simultaneously buys and sells a commodity or other financial securities at different bourses or in different forms to take advantage of existing or anticipated price differentials.

Arbitrage Pricing Theory - The return on investment predicted as an equation. The equation calculates expected returns of a portfolio with certain qualities (i.e, increased risk, increased leverage) vs. the expected performance of the same portfolio with typical qualities.

Area Method - The process for determining a trend line by equally weighting the amount of time a price stays both and above the line. (Trading)

Around - Slang used in quoting the premium built into spot value. Where a broker quotes a 'Four, four around' for a position, that means you must pay four point (price units) over/under spot ask/bid. [futures]

Arrangement - Plan of Arrangement made pursuant to section 182 of the OBCA.

Arms Index Ratio - see TRIN

Ask Price - The retail selling price offered by the dealer to a member of the public (aka "sell" or "offer" price).

Assay - Physical and chemical analytical tests that determine the consistency, fineness and weight of precious or other metal in ore, soils, bullion or coin.

Assay Laboratory - A laboratory in which the proportions of metal in ores or concentrates are determined using analytical techniques

Asset - A security or other tangible good with a positive net value.

Asset Allocation Fund - A diversification fund that includes portions of the portfolio in different class investments such as metals, stocks, and bonds.

Asset Backed Security - A financial instrument that is backed by some type of loan, lease or other receivable against an asset other than real estate. Asset-backed securities are used as an alternative to other types of corporate debt. [Finance]

Asset Class - The category of an asset. For example, stock Asset classes include growth, high growth, and fixed income.

Asset Constraint - The decision rule governing the weighting of an asset as a percentage of a portfolio.

Asset Sale - C corporation liquidation that must be scaled over 10 years. A swap for stock can be arranged around the asset sale clause but will remove the liability to expense later.

Asset Transfer in Kind – Transfer of securities, such as rollover of a 401 when a company changes ownership, between brokerages without selling out and re-establishing individual positions

Asset Type - Cash, Shares, Derivatives and Hard Assets

Assumable Mortgage - A type of mortgage where a buyer can take over payments on the loan held buy the seller, subject to lender approval.

Assumed Interest Rate - A modeled growth rate which an insurance company will use to determine the monthly payment paid to an annuitant.

Associated Person - commodity broker

Association Cambiste Internationale - Regional and National Foreign exchange trading clubs join this international organization for increased exchange of information.

At-the-money - An option where the strike price is equal to the backing futures price.

Auger - An air rotary drill set up at ground surface that uses a drill bit or screw bit that drives into the ground, breaks up the ore, and then elevates the ore up to service via sleeve.

Auriferous - Containing gold.

Australian Dollar - The currency of the Nation of Australia. [currency symbol]

Authorized Stock - Number of shares that a company is allowed to sell per its charter. This amount may or may not be the same as total outstanding stock.

Autogenous grinder - A machine that breaks down ore in a rotating cylinder using rock aggregate to break down large ore pieces into smaller ones instead of steel balls that are used in a crusher.

Automated Bond System - The NYSE electronic bond trading network.

Automatic Clearing House - A batch-oriented electronic funds transfer system network governed by the NACHA for interbank e-commerce clearing: http://www.nacha.org/)[Trading]

Automated Confirmation Transaction Service - An automated trade clearinghouse for the NASDAQ. [OTC securities]

Automated Customer Account Transfer - An electronic system for trading securities between brokerages and banks.

Bear, Bear market- One who believes prices will go down, or a market where prices are declining.

Bearing - In surveying, the designation for direction of a secondary line that forms an acute horizontal angle between the meridian and the line.

Auxiliary Operations - Those operations that support the mine.

Auxiliary Ventilation - That portion of ventilation within the mine using an auxiliary fan and power.

Avoirdupois - British weight and measures system

Average Annual Return- The average profit returned by a mutual fund year over year.

Average Daily Volume - The average number of shares transacted each trading day.

Average Directional Index - (ADX) The technical analysis tool used to determine the strength of a prevailing trend, measured in numeric terms between 1-100 where over 40 is considered strong. [TA]

Average Return - The yield paid on a particular investment over a fixed period of time.

Averages - An index such as the S&P500 that is considered a barometer of a particular corporation type (small cap, mid cap, growth, etc.) [Finance]

Average True Range - A technical indicator that shows volatility of an issue on an absolute level. [TA]

Azimuth - In surveying, the established line of direction reference which is the acute horizontal angle between the meridian and the measured line.

BBB

B&M - Brick & Mortar (A physical retail store, not just a site on the internet)

B2B - Business-to-Business commerce

B2C - Business-to-Consumer commerce

Back - The roof of an underground passage or room. Back Sample - Bulk samples or chips collected from the roof or back of the underground passage in a mine and sent to an analytical laboratory for assaying or other testing.

Back and Fill - Price action of a security where the price will touch a support or resistance trend line multiple times before making a solid break through the trend line.

Back-fill - Material used to replace soil and earth removed during mining operations

Back months - Futures months trading furthest from expiration date (AKA deferred or distant).

Backwardation - The price anomaly where cash settlement (or spot) price of commodity is more expensive than the price of the same commodity in the future.

Bacterial leaching /oxidation - The use of bacteria to oxidize sulphide minerals in preparation for further processing.

Baffle - A partition wall in a channel or container meant to mix and churn media flow thorough the channel.

Bag – A burlap container full of coins sealed by the US Mint or a bank.

Bag mark – A scratch, ding, or other mark detracting from the appeal and value of the coin made during loading or transport of the bag. The coins clashed against each other causing these marks.

Balance of Payments - Trade status and accounting between nations.

Balance of Trade - Difference between exports and imports between nations.

Balance Sheet- A financial statement certified per governing regulations an independent audit that lists a companies assets, liabilities and capital as a snapshot in time, typically done quarterly.

Balance transfer - Exchanging funds or debt in one account into another.

Balanced Payment Plan - A program to smooth out volatility amongst monthly payments, for a power bill as an example, by averaging out the payment of each period for the previous year and charging that rate per month.

Ball crusher/mill - A container that is usually shaped like a cylinder which contains hundreds or thousands of steel balls. Ore is placed into the cylinder, which is then rotated like a lottery tumbler, and the balls break the ore into smaller pieces that can be further processed. Ore fed into the ball mill may have first been fed through a jaw crusher/mill to break down large ore chunks into smaller aggregate.

Bands - 1) A diagnostic feature of a coin such as the horizontal bands across the fasces on the winged liberty ('Mercury') dime. Or, alternating geologic strata. Or, the trading range (Bollinger bands) of an equity [technical analysis]. 2) In geology, alternating strata of different type rock.

Banjo - 1) A carrying case that Chinese miners would use to transport equipment or valuables, shaped like a banjo case (the 5-string musical instrument with a large round drum bound tight and small fretted neck). 2) A nickname for a trough where gold is separated from sediment.

Bank Draft - A written instrument of payment issues by an asset holder.

Bankable Feasibility Study - Study that determines the proven and probably reserves of a mining company.

Bank Holiday - In England, a series of secular holidays where public labor, services and trade are limited.

Bank Investment Contract - An agreement where a bank will pay an agreed rate of interest over a fixed period of time on a security or collateral.

Bank of Japan - Japanese Central Bank

Bank of England - England's Central Bank who sets fiscal policy. Known as "Old Lady of Threadneedle Street".

Bank for International Settlements - Settles Standard Drawing Rights [fin.]

Bank Secrecy Act - AKA 'Title 31 (31 CFR section 103) is a purportedly anti-terrorist banking measure that actually serves as part of the US citizen spying infrastructure whereby congress directed the Treasure Department to require bank recording how, when, and where

Americans transfer their federal reserve notes via banking institutions.

Barrel Per Day - Unit measure of oil production (42 US gallons).

Barren - Rock with not enough mineral value to warrant economically viable mining via the 'prudent man rule'.

Barricading - Enclosing part of a mine to prevent inflow of noxious gasses from a mine fire or explosion.

Barrier - Something that bars or keeps out. Barrier pillars are solid blocks of coal left between two mines or sections of a mine to prevent accidents due to inrushes of water, gas or from explosions or a mine fire.

Base - Chemical term describing a substance with a pH above 7.0

Base Metal - An alloy, or mixture, of non-precious metals used for financial or industrial applications. Might be used under gold or silver-plated coverings.

Basis - The spread between the cash price and futures price of a commodity or other fungible asset.

Basis Point - A unit measure of interest rate charged member banks by the central bank. One hundredth of one percentage point (0.01%) is one basis point.

Battice - A safety curtain used in mining operations to isolate miners from poison air.

Belt Idler - A cylinder metal roller that guides an attached conveyor belt.

Belt take-up - A belt pulley that keeps tension on, and runs parallel to the belt line, and thereby removes belt slack produced by stopping and starting, binding, etc.

Beam - A bar or joist, or more than one bolted together, that serve as roof support between walls in a mine.

Bearing plate - The plate placed between a beam or bolt head and the roof of a mine that distributes weight along the plate and away from the bearing beam, prop, wall or other support.

Bear Spread - A vertical spread that includes the sale of a lower strike call and purchase of the higher strike call (or, the sale of the lower strike put and purchase of the higher strike put).

Bearish key reversal - A technical chart formation which occurs in a bullish market when the day's high is higher, the low is lower, and close is below the previous day's close.

Belt conveyor - A long belt made of rubber and bands attached to a system of pulleys that carries ore from the pit to the mill.

Beneficiary IRA - A beneficiary IRA contains money meant by an individual to be passed on to a beneficiary, such as offspring.

Beneficiation - The concentration and treatment of mined and processed ore to increase the percentage of metal.

Bequest - A gift of personal property; everything except real estate and machinery. [pers. fin]

Beta - Volatility coefficient. The measurement of an asset's return relative to another portfolio (such as the DJIA). Where the DJIA return on investment is represented by 1.0, an asset with a Beta above 1.0 carries more risk than the DJIA.

BGEIX - American Century Global Gold Investor (mutual fund)

BGO - Bema Gold [Ticker] [Became a part of Kinross Gold in January 2007]

BKX - PHLX / KBW Bank Index. (Often an indicator of general market direction.)

Bid Price - The price a dealer is willing to pay (aka "buy" price) from either the public (retail) or another dealer (wholesale).

Big Board - Nickname for the New York Stock Exchange

Billon – A coin with more copper than silver; potentially comprised of other metals.

Bio-leaching - The metal recovery process using bacteria or enzymes to biologically separate out metals from low grade ore, especially waste rock previously mined and discarded.

Bit - The hardened and strengthened device at the end of a drill rod that transmits the energy of breakage to the rock. The size of the bit determines the size of the hole. A bit may be either detachable from or integral with its supporting drill rod. Frequently made of an ultra-hard material such as industrial diamonds or tungsten carbide.

Black Friday

Original Black Friday - September 24, 1869

Colloquial/modern: (Friday after Thanksgiving. Sales on BF show if stores will profit on the year (run in the black))

Black Monday - October 19, 1987; the Dow Jones lost 500 points.

Blank - See planchet.

Blind Pool - A group of investors pool resources; money chasing a deal.

Block Trade - A privately negotiated futures contract executed outside public auction. (Governed by Rule 526).

Board of Directors - Selected by stockholders, a group of individuals who establish corporate policy and hire, fire and oversee top management positions.

Bollinger Bands - On a price chart the range drawn as one line below the price action and one line drawn below that form a trading band that represents standard deviation levels off the moving average. Created by John Bollinger, this indicator measures volatility and can pre-sage large movements in an issue. [Technical Analysis]

Bond - A debt instrument that pays a guaranteed (unless 'called') rate of interest until a particular point in time. Bonds are negotiable, which means they can be sold or traded. They are a coupon-bearing debt obligation, which means interest is paid on a regular basis (semi-annually in the US). Bonds have a maturity of at least 7 years, those with shorter maturities are known as notes.

Treasury Bonds (those with maturities 10 years or less at called Treasury or simply 'T Notes') are issued by the U.S. government and backed by the governments 'full faith and credit'; this means the ability of the government to tax, wage war and enforce its currency. The interest paid on Treasury Bonds are exempt from state and local taxes. Denominations can range from $1000 to $1 million. Denomination is also called 'face' or 'discount'. In the past the US Treasury has stopped paying interest on certain bonds after a given period of time; when this happens the bond is said to be 'called' or is a 'callable bond'. Current US bonds are not callable, but some older U.S. Treasury Bonds (available on secondary markets) are callable but only within five years of the maturity date.

Bond Act of 1911 (and 1915) - Established special district financing via special assessment taxes. Bonds were secured by district parcels (1911) and remaining assets (1915).

Bond Equivalent Yield - The calculation for changing known monthly, quarterly or semi-annual yields into an annual yield.

Bond Ratio - That portion of an organization's financing provided by issuing bonds. The ratio found when dividing the sum of the face value of bonds divided by total value of common and preferred stock, reserves, capital surplus, retained earnings, and bond value.

Book, “Book” value - The combination of common and retained earnings added to surplus reserves. 2) The realized price of all fixed and real assets (chairs, computers, land, inventory) following a liquidation sale. (business valuation).

bot - web-bot [computer program/algorithm]

Bourse - A trading platform or market for buying and selling goods; typically refers to financial equities such as stocks or bonds trading, for example, on the New York Stock Exchange.

Bn - Brown, used for grading copper coins.

Brazilian Antitrust System -[Brazilian Law 8884; composed of SEAE, SDE, CADE]

Breakout - The movement of price outside of the previous boundaries or trend. Coins: refers to the removal of a coin from a certified slab and resubmittal to the same or other third party grading service with the intent to receive a higher grade.

Breakaway Gap - A gap up or down in prices from the previous close that signals the end of the current market direction when confirmed; such as by an island top or bottom.

Breccia - A rock type formed from other rocks derived from various parent materials, held tougher by induration (cementing).

Brick - A large accumulation of currency bills or milled ore for wholesale transfer or sale. Bricks are typically not pure, i.e dore' may require further smelting or processing before retail purposes and brick currency would be a mix of currency bills in various conditions and issues.

Brick & Mortar - A store with a physical presence rather than one simply hosted on the internet.

Brokerage - A fee or commission charged by a broker; either a fixed fee or percentage of transaction.

Bronze - An alloy made of copper and tin.

Bronze Disease - A type of corrosion that attacks bronze and copper coins, typically ancients.

BTW - By the way [slang, WWW]

BUGS - Basket of Un-hedged Gold Stocks

Bull - One who believes the price is going up.

Bullion - Precious metals in a known, negotiable and tradable form, such as a bars, rounds or wafers of a known fineness and weight.

Bullion Coin - A legal tender or numismatic coin with a market price dependent upon precious metal content as opposed to a face value. Examples include Australian Koalas, Canadian Maple Leafs, U.S. Gold and Silver Eagles, South African Kreugerrands, Viennese Philharmonics, etc.

Bullish Percent Index - The ratio determined as the percentage of stocks on an exchange or in a sector showing buy signal on the point and figure chart system. [FA; market indicator]

Bump - Bumping a thread (to get it to the top of a forum); AKA 'TTT' (to the top).

Bump and Run Reversal - where a price moves to the previous point of resistance (or support) and immediately reverses direction forming a sharp 'vee' pattern. [TA]

Bundle - A simultaneous sale of each in a series of consecutive futures contracts.

Bureau of Economic Analysis - The US Govt. agency that develops economic gauges including GDP. [US]

Bureau of Land Management - The US Govt. entity that regulates mining permits.

Bureau of Labor Statistics - The US federal bureau, within the Department of Labor, charged with developing bogus data sets used by central planners. [US]

Bureau of Justice - The US Department in the Executive Branch charged with functioning as an intimidation agent by selective enforcement of regulations and code to various support policy. [US]

Bureau of Public Debt - The Bureau within the US Department of Treasury that facilitates and reports the level of bondage you and your children have accrued. [US]

Burn Rate- The amount of capital money that a firm spends while developing a project. Since there is no income coming into the project, only outlays going out, the project is 'burning' cash.

Business Corporations Act - The Canadian law that provides for the organization and regulation of corporations.

Business Strike – Coin designed for circulation as currency.

Business Cycle - The natural phases of economic development including growth, prosperity, recession, depression, and recovery.

Bust - A coin with a portrait of an individual shown from the shoulders up.

Butterfly Spread - An option spread using three strike prices to maximize both a bull and bear spread.

Buy Zone - A favorable point to accumulate an issue based upon price or some other factor.

Byproduct - Any secondary mineral produced through the mining process. For instance, a mine that focuses on producing gold may also smelt and refine silver as a byproduct.

CCC

C - Citbank [NA ticker]

Cabal - Kabbalah [Jewish Mystics/numerologists; slang – TPTB]

Cabinet Price - The nominal price for liquidating an option contract that is deep-out-of-the-money.

Cable bolt - An eyebolt screwed or cemented into the ground or surface rock with a steel cable through it that supports the lowering of equipment or supplies down a shaft or embankment.

CAC40 - French Bourse

Cachet - A printed picture on paper, such as on an envelope.

CAD - Canadian Dollar [currency symbol]

Cage - An elevator car that raises and lowers people and materials up and down a mine shaft.

Caisson - A metal casing that serves as a sleeve around shafts or bores placed in unstable ground such as sand.

Calendar Spread - A futures calendar spread is the simultaneous purchase and sale of the same futures contract with different contract months .

Call - The option, but not the obligation, to buy an asset a specified price at any time in the future before the expiration date of the option contract. Or, when holding the underlying the stock the call is written again, the promise to sell the stock at the previously-agreed upon price.

Callable - Any security (typically a bond) that can be redeemed prior to maturity date by the issuer. Ability to be called is established at the time the bond is issued. There may or may not be an associated premium.

California Code of Regulations - Codified California law as promulgated by the state executive branch.

Call Value - At expiration the value of the futures price minus the strike price of the call.

Canadian Business Corporations Act - The Act and associated regulations that govern the organization and regulation of corporations in Canada. [Can]

Canadian Competition Act - Under this act, merger and acquisition of voting shares of a going concern require approval by the Commissioner.

Canadian Depository for Securities Limited - A clearing agency for international transfer of stock. [.to ADR clearinghouse]

Canada Education Savings Grant - A partial matching grant that contributes to a Canadian education savings account.

Canada Revenue Agency - Government agency that collects taxes and sets trade regulations.

Canadian Institute of Chartered Accountants - organization that maintains handbook for Canadian Generally Accepted Accounting Practices. http://www.cica.ca/index.cfm/ci_id/17150/la_id/1.htm

Canadian Institute of Mining - A technical society dedicated to the advancement of the resource extraction industry in Canada and elsewhere. They set and promulgate regulations and guidelines that define terms and conditions defined under the instrument NI 43-101 such as 'Indicated Mineral Resource' and 'Inferred Mineral Resource'.

Canadian Investor Protection Fund - An insurance that partially compensates investors after an investment funds becomes insolvent.

Canadian Mortgage and Housing Corporation - Provides mortgage loans and mortgage insurance for prospective homebuyers.

Canadian Pension Plan - Similar to the US Social Security, provides partial disability insurance or retirement benefits after a wage earner has contributed to the plan.

Canadian Revenue Act (or Agency) - Similar to the IRS, and probably owned by the same group of people.

Canadian Tax Act - Now in its 81st edition, a more refined method to separate working Canadians from their money.

Cancel Former Order - Cancellation (or change) in either quantity or price of an order previously entered. [Options]

Canopy - The protective overhang on the cab of a tractor or other piece of large machinery.

Cap - The encapsulated explosive device that is connected by detonating wire, or via radio signal, to a remote detonator; used to detonate even larger cache of explosives.

Cap block - The flat piece of wood inserted on the top of the drift frame and roof that provides further weight bearing support to prevent cave-in.

Capital - Money used to start up a concern such as a business.

Capitalism - Free market enterprise. The government's interventions should be absolutely limited as "laizze faire" whereas the only governing mechanism should be the invisible hand. Currently defunct on any large scale application.

Capitalization - The total market value of a firm calculated by multiplying the number of outstanding shares by the stock price.

Capital Asset Pricing Model - The eternally adjusting exercise to determine, given an asset's fixed and non-diversifiable risk, the theoretically rate of return necessary to produce cash flow. [Fin.]

CAPEX, Capital Expense - A gross expenditure [fin.]

Capital Cost Allowance - Canadian Income Tax cost depreciation table.

Capital Dividend Account - The location where private corporations can park untaxable net gains.

Capital Gains (Loss) - A tax assesses upon sale of an asset where a profit was realized; Short (less than one year) and long term capital gains have different marginal tax rates.

Capital Market Line - Under the CAPM model, the total expected market return calculated as the risk free rate of return and the underlying level of risk (beta) assigned to the portfolio.

Capital Stock - Total ownership of a LLC divided by the number of outstanding shares.

Capital Structure (Capitalization) - The total of all bonds, common and preferred stock, capital stock, and retained earnings.

Capitalization Rate - ratio of debt to equity

Captive stope - Any stope that can be entered only via a manway.

Car - 1) A metal bucket on wheels then placed on a railway that carries ore from them mine to the mill. 2) A contract quantity [Options slang].

Carat - This is a measurement of weight used in gemology. It equals roughly 3.086 grains Troy or 0.2 grams. NOTE: This Carat (starts with the letter 'c') and is not the same as Karat (starts with the letter 'k') which is a measurement gold fineness.

Carbon-in-column - 1) Activated carbon contained stacked in a plastic container provides a very useful treatment and filtering device for most types of organic and inorganic pollutants. The column also provides a media and mechanism for the capture and measurement of these components and elements from a waste or purge- water source, capturing everything in the water stream so that the materials in the water that have absorbed onto the carbon can be quantified. [Env. Eng.; mining wastewater]. 2) In mining, the stage where carbon is added to the ore before slurry production.

Carbon-in-leach (CIL) process - A modification of the CIP process whereby carbon is added directly into the slurry during leaching as opposed to CIP where carbon is added after leaching is complete. [Mining]

Carbon-in-pulp (CIP) process - A process used to recover dissolved gold from a cyanide leach slurry. Coarse activated carbon particles are moved counter-current to the slurry, absorbing the gold as it passes through the circuit. Loaded carbon is removed from the slurry by screening. The gold is recovered from the loaded carbon by stripping in a caustic cyanide solution followed by electrolysis or by zinc precipitation. [Mining]

Carbon Rod - In drilling, a steel rod that has been hardened with the addition of carbon.

Carborundum - A silica based abrasive used as an industrial cleaner.

Carry Trade - The practice of profiting from interest rate or currency differentials. As an example, one can borrow money money at a low short-term rate and lending it out higher long-term rates. One can borrow currency in one country, such as Japan, with very low interest rates and transmit into US securities with larger rates. This is known as the Yen Carry Trade.

Cartwheel - The term describing the play of light across a silver coin which displays the effect of light caught within field striations as one rotates the coin. Enhances eye appeal.

Cash - Fungible units of trade.

Cash-cost - A measure of the average cost of producing a product. For example, the costs associated with producing an ounce of gold is calculated by dividing the total working costs (excluding corporate administration) in a period by the total gold production over the same period. Working costs represent total operating costs less royalties and depreciation. In determining the cash-cost of different elements of the operations, production overheads are allocated on a pro-rata basis.

Cash Dividend - A dividend paid in cash reflecting the earnings of a corporation divided by those holding stock.

Cash Equivalent - Short term assets, such as Certificates of Deposit, calculated in the M3.

Cash flow - Net income including all non-cash deductions from depreciation schedules. The actual amount of money generated over a given period of time.

Cash Flow Return on Investment - A model use to determine stock value that calculates fully valued price based upon the net cash flow rather than on other indicators such as price per earnings.

Cash on Delivery - The form of payment where the account is settled upon delivery of merchandise [Acct.]

Cashflow Statement - The financial report showing the cash flow of the concern over the previous quarter.

Cash-on-cash return - Annual net cashflow divided by the cash cost outlay. As an example, if you have 15K invested in a house worth $100 and the house rental rate (after all taxes and expenses) is $200 a month, then the income is ($200/month x 12 months) = $2,400/year. Hence $2400/year divided by 15,000 is 15% cash on cash return per annum.

Cash Management Bill - The shortest term debt instrument offered by the US Treasury.

Cash receipts - The sum of all aggregate purchases paid by cash, or converted to cash, entered in ledgers and reported on balance statements. [Acct.]

Cash Return on Gross Investment - The FA model use to determine retune on investment that calculates the post-tax cashflow divided by initial gross (pre tax break) investment.

Cash Return On Invested Capital - Annual net cashflow divided by the total cost outlay (cash + loans).

Cash Settlement - For those markets without deliver of contract commodity, the disposition of open positions on the last trading day of each contract month.

Cash Balance Plan - A hybrid defined-benefit plan that does not pay an annuity but does allow employees to accrue benefits that can transfer after vesting.

Cash Transaction Report - US IRS rule that requires all cash deals over $10,000 and meeting other requirements be reported to the government.

Cast - Where overburden is directionally deposited away from the active mining face directly (where possible) onto the waste pile.

Cathode - A rectangular plate of metal, produced by electrolytic refining, which is melted into commercial shapes such as wirebars, billets, ingots, etc.

Cathode Ray Tube - The computer monitor.

Cation - Chemistry, the negative anode.

Caustic - A chemical that damages skin or metal and therefore is stored in plastic or glass containers. Typically refers to a base (high pH), but not always.

Caustic Soda - Used to change pH in a process such as mining or water treatment.

Cave In - When the supports in a mine shaft fail and the roof collapses.

Caving - Intentional cave ins serve as a mining method where the materials is then mucked and sorted.

CEDE - 1) Latin American agricultural and environmental organization. 2) Verb- to voluntarily quit claim land or other claims

Cement copper - Copper that has been salvaged from its solution in groundwater or mine drainage water by precipitating on scrap iron, a process commonly used in the U.S.

Central bank(ers) - The main bank that establishes fiscal policy, including the rate that banks charge interest to other banks.

Central Fund of Canada - Canadian mutual fund holding gold and silver.

Central Limit Theorem - A basic tenet of probability theory that provides a random distribution of identical an independent variables will normal distribution.

Certificate of Deposit - Short term investment with a bank, FDIS insured, paying a low interest rate in return for liquidity and apparent safety. Part of M3.

Certified - A coin or other collectible that has been authenticated and verified by a third party assessor.

Certified Annuity Specialist - A certificate tendered to an individual by the Institute of Business and Finance indicating knowledge of investment opportunities and risks associated with fixed and variable annuities.

Certified Divorce Financial Analyst – An expert in Financial Forensics, the art of ‘following the money’.

Certified Financial Planner - Requires two years experience to qualify for this certificate and requires approximately two years to pass the two-day course when working full time and studying the course material.

Certified Fund Specialist - A certificate tendered to an individual by the Institute of Business and Finance indicating knowledge of investment opportunities and risks associated with mutual funds.

Certified Investment Management Consultant - A financial planer certified by the Institute for Investment Management who specializes in individual financial investing.

Certified Investment Management Specialist - A financial planer certified by the Institute for Investment Management who specializes in individual financial investing.

Certified Public Accountant - A financial discipline tested and certified by the American Institute of Certified Public Accountant’s

Certified Retirement Services Professional - The institute of Certified Bankers promulgates this certification where prospective practitioners must demonstrate practical and theoretical knowledge of retirement plans and planning, and the regulations governing such.

Certified Senior Consultant - A financial planner certified by the IBF who specializes in matters affecting seniors such as Social Security, Lon Term Care Insurance, Medicare, retirement, etc.

Certified Trust and Financial Advisor - A planner certified by the Institute of Certified Bankers who specializes in individual financial investing, tax issues and trusts.

Certificate of Deposit - A short term interest bearing note with issued by a bank with higher security (backed by bank reserves and insurance) but providing a very low rate of return.

Certificate of Government Receipts - A bundled government security sold by a private company that removes both interest payment an risk of capital repayment by trading on face value. Known as a synthetic security.

Certificate of Origin - A document in international shipping that certifies where a product was produced as verified by Chamber of Commerce, public notary, or similar.

Certificate of Participation - A type of debt financing issued by a municipality and purchased by an investor where each share is part ownership of the revenues produced by the debt stream, rather than a share of the bond backing the revenue stream or ownership of the asset produced via the debt issuance or revenue stream. The municipality typically constructs an asset which is then leased out to another entity. Hence, doesn't count against the debt load - and therefore credit rating - of the municipality and allows it to repeat the process.

Chaikin Money Flow - Calculated as the Closing Location Value multiplied by volume, this metric called the accumulation/distribution value is measured against the running average of closing positions in an equity compared to the high or low values of the day. Closes in the lower portion represent bearish action. [TA]

Chartered Accountant - Financial professional working in the accounting field, the Canadian equivalent to the American CPA.

Chartered Financial Analyst - A certification for financial planners by the Chartered Financial Analyst Institute

Chartered Financial Council - The trade association of chartered financial analysts.

Chartered Investment counselor - A certification for financial planners by the Investment Counsel Association for Chartered Financial Analysts. [pers. Fin.]

Chartered Market Technician - A certification for traders given by the Market Technicians Association.

Cheapest To Deliver - The fundamental driver that any settlement in physical on a futures contract will be made with the cheapest and lowest grade commodity available.

CHESS Depository Interest - A name-on registry system representing derivatives that both represent and express an apportionment of corporate shares.

Chicago Board Options Exchange - Commodity futures and options exchange.

Chicago Mercantile Exchange - A publicly traded futures exchange and clearinghouse. [bourse]

Chicago Board of Trade - A commodity bourse focused on futures and options exchange.

Chief Executive Officer - The senior corporate officer; in charge of all other officer. Typically serves on the board of directors. [Fin.]

Chief Financial Officer - The senior manager of a firm with primary control of company financial policy and fiduciary duties. [Fin.]

Chief Information Officer - The head individual responsible for managing the information technology, personnel and planning needs of a firm. [Fin.]

Chief Operating Officer - The senior manager of a firm with primary control over day to day operations and personnel decisions. [Fin.]

Chief Security Officer - The senior manager of a firm with primary control over security for all company personnel, facilities, assets and information.

Choosing by Advantage - A method of contractor selection that incorporates factors other than price. [US Govt. Contracting]

Churning - The practice by money managers to overtrade your money in order to gain commissions for themselves.

CINS - CUSIP International Numbering System

Clearing - The procedure where the clearing house takes the counterparty position to each trade. I.e. becomes buyer for each seller of a contract.

Clearing House Electronic Subregister System - The .asx. (Australian) ADR clearinghouse]

Clerk and Master's Deed - Form of property conveyance typically generated by the county/local government. [RE]

Closed-End Mutual Fund - A mutual fund with a limited number of shares offered at startup, with no new shares to follow. This limits the amount of folks that can partake in the fund, which in turn, leads to a certain amount of fund stability.

Closing Location Value - For any given and systematically measured period, the value of the closing price relative to the range for that same period. [TA]

Closing price - The final price of a contract at the end of the trading session

Circulated - A coin or paper money that has been handled as part of daily commerce and hence is not longer in mint state.

CNBC - The focused concentration of shills and disinformation artists backed used to manage public perception of markets and politics.

Coefficient of Variation - In statistics, you can determine the location of data sets plotted against the data mean by dividing the standard deviation by the expected mean. This ratio provides a relative measure of accuracy.

Coin - A shiny pretty jeton that completely suck all the money out of your wallet and time out of your day (but only if you collect them).

Collar - The position created when one sells covered calls but uses a protective put on the underlying stock, or commodity and thus produces a collar - the collar creating boundaries on either side of price action. The purpose for the investor is to generate short term income while protecting capital during periods of market unpredictability. The purpose for a commodity producer to install collars is to protect against underlying price risk.

Collateral - Assets or securities pledged for a loan in case the borrower cannot make all payments.

Collateralized Bond Obligation -Securitized assets in collateral-backed asset pools, where a percentage of the assets are in bonds (typically non-mortgage).

Collateralized Debt Obligation - A bundled debt package sold as a security investment. The backing debt is typically non-mortgage types such as municipal bonds. The goal of the security is to spread risk over a series of various debt instruments, credit ratings, risks, grades and backers.

Collateralized Loan Obligation - Bank houses bundle receivable payments from outstanding loans for sell on the secondary market. [Fin]

Collateralized Mortgage Obligation - Issued by investment banks, mortgage originators or government corporations, these derivatives/bonds pool accounts receivable from mortgage portfolios held and sell as a security on the secondary market.

Colloidal silver - A solution used as a an effective germicde.

Combined Loan to Value - All notes and HELOCs against bid, expressed as a ratio.

Combined Yield - The compete return on investment in a company stock including all dividends and price increase.

COMEX - Former New York Commodities Exchange, now part of NYMEX. This exchange started in the 1930's to facilitate trade of metals, rubber and other commodities.

Commemorative - A coin or other collectible produced not to serve as circulation currency, but to mark the passing of a n event or the significance of a person or place.

Commercials - Those dealers and specialists that set market price based upon their extremely large market percentage and access to trade platforms.

Commercial Mortgage Backed Securities - Bonds or other derivative debt instruments backed and secured by commercial real estate holdings, bundled, and sold as investment grade into the market.

Comminution - Mechanical shredding or pulverizing of ore or waste material.

Commitment of Traders - A report on commercial and non-commercial positions in the market. [futures]

Committee on Payment and Settlement Systems - The group that oversees transactions involving the exchange of money or securities between banks and financial institutions. [BIS/Int. fin.]

Commodity Channel Index - A technical trading indicator that measures when commodity markets are oversold or overbought. Here is the formula: http://www.incrediblecharts.com/technical/cci_construction.htm

Commodities Exchange Center - The New York City location of live commodity future exhanges.

Commodities Research Bureau - A futures market service which provides data on commodity markets to traders for a fee.

Commodity Futures Trading Commission - An agency created by the US congress to interfere with free market commodity trading per the Commodity Exchange Act of 1974.

Common Stock - The least senior holder of a company asset, after preferred stockholder and bondholders.

Common Stock Ratio - The complete common stock portion of a company's capitalization.

Community Property State - A state where the property of both wife and husband are combined unless separated via trust or pre-nuptial agreement.

Comparables - A list of other real estate listings showing prices paid for housing (or other types of real estate) in a particular location over the recent past. This list is then averaged to determine what the expected price should be for a new house just being listed on the market. [RE]

Competing Permitted Bid - A rival take-over bid for outstanding shares of a company made while a previous takeover bid is still on the table.

Competition Transition Charges - A surcharge placed by a utility company for those power charges that were determined above and beyond rates approved by the Public Utility Commission.

COMTEX - A commercial provider of electronic real-time financial news; nee Comtex Scientific Corporation

Concurrent Stock Appreciation Right - Tied to an underlying option, rights to shares that are exercised automatically at the same time the underlying option is exercised.

Consolidation - Price of a stock settles around support or pivot point and forms a base for another move upward. [TA]; The tendency for companies to merge in a mature sector or market. [FA]

Concentrate - Material that has been processed to increase the content of the contained metal or mineral relative to the contained waste.

Concordance – A numismatic reference material.

Cone Penetrometer -This refers both generally to the technology, and specifically to an instrument that is located on the tip of a series of rods driven into soil in order to gather soils and geology information.

Consolidated Financial Statement - The Canadian method for representing assets, liabilities, revenue, and expenses of a firm on combined cashflow and balance statements. [Fin. {Canadian}]

Consolidated Statement - A combined financial statement for all divisions and subsidiaries of a corporation.

Consumer Price Index - An index calculated by the US Bureau of Labor Statistics to calculate the change in prices of goods and services typically purchased by individuals and house holds. There are a variety of index flavors reported (E-elderly; W-clerical, etc.) that are tied to increase in annual benefits paid by the government for social security, etc. There is also a different index published, called the Core index, that excludes 'volatile' price components such as fuel and energy.

Contingent Deferred Sales Charge - A back-end load charged by mutual funds whenever they can get away with it. Ostensibly used when funds are bought and sold before a pre-defined period of limitation. [Mutual Funds]

Continuous Net Settlement - The system designed to abate market risk by recording security transitions via an automated book-entry accounting method.

Convert and Parity - A type of liquidity, such as supply of stock available on an electronic trading platform, available to Market Makers and Specialists.

Corporation - A legal entity with enumerated powers and protection for shareholders.

Correlation - The degree to which two separate asset trade in value compared to each other. When one moves up and the other moves down in the same degree, they have a correlation of -1.0.

Corrosion – This is a chemical reaction degrading the appearance or integrity of a metal. Corrosion changes either the nature of the metal or results in a loss of metal to the process.

Cost Basis - Qualified purchase price. For instance, a cost basis is established for terms of a taxable event when inheriting a house. The taxable portion is not the cost increase since the house was built, instead it is the cost increase of the house since the time the new owner acquired the house. [RE]

Cost Benefit Ratio - The equation expressed as a ration that examines the positive benefits vs. the negative costs, both qualitatively and quantitatively, of any proposed project.

Cost of goods/products sold - The total combined expense of labor, capital, and materials assigned per each unit produced and sold.

Cost of Living Adjustment - The annual raise in wages accounting for increase in cost of living as determined by the CPI-W.

Cost of Funds - The expenditures in interest that a firm must pay for use of pooled monies under their management.

Cost of Sales - Operating and Capital expenses.

Counterfeit - A fake or imitation coin or other item produced to deceive through similarity in appearance with the original model.

Counterstamp - A coin that has an engraving, typically initials, that was imprinted or engraved after leaving the mint.

Coupon Equivalency Rate - The formula for determining rater of return for discount coupon bonds. [Bonds]

Court of Chancellery – Equity Court that puts property into receivership for disbursement.

Covered Call Option – When you own a stock, you sell the right (but not the requirements) to buy my stock at a future date.

Coverdell - The Educational Savings Account plan that allows expenditures on private schools for primary and secondary education.

Crack out – Term when an individual breaks out a coin from a slab to re-submit the coin, hoping for a higher grade.

Crack Spread - The gross profit margin for oil.

Credit Reporting Agency - One of three major firms that track individual credit and FICO scores: Transunion, Equifax and Experian.

Credit Default Swaps - A method to transfer risk from the holder of a fixed income (i.e. CMO) to the buyer where the seller guarantees the credit worthiness of the underlying income security by offering some premium or buyback clause.

Creditor - Any holder of a company's assets such as bonds or stock.

Credit Union - Any group of individuals or businesses that join together to loan each other money and gain a better interest rate on their pooled assets then they could achieve individually. Credit union compete with banks by not charging junk finance charges and by charging better interest rate since credit union members are loaning to each other.

Crosscut - A mine working which is driven horizontally and at right angles to an adit, drift or level. [Geol.]

Crossover - Term when an individual submits a coin in a slab to a competing grading service, hoping for a higher grade.

Crossover Refund - When a bond is refunded, the original revenue stream continues to pay service on the refunded securities until matured or called. When called, the new revenues pay service on those same refunded assets which secured the debt.

Cross section - A diagrammatic drawing that shows features that are transected by a vertical plane which is drawn at right angles to the primary geologic factor displayed along a longer axis.

Certified (new homes) Sales Professional [CSP] - A professional certification in the real estate industry.

Cu - copper [elemental]

Cull - A coin or other worn or damaged to the point there is no value other than intrinsic.

Cumulative Volume Index - A measurement that tracks the advance/decline ratio to indicate momentum and money flows in the equity market at large.

CUNI - cupro-nickel [metals, coins]

Cupro-Nickel. A coin combining more copper than nickel. e.g. Cupro-Nickel alloy, Cupro-nickel Composition.

Curb - The nickname for the AMEX

Currency - Circulating medium of exchange for goods and services.

Currency Transaction Report - IRS form 4789 used by banks to report on certain customer transactions over $10,000.

Currency and Monetary Instrument Repot - Many instances of moving cash or bullion out of or into the country may require U.S. Customs Form 4790 and the corresponding Currency and Monetary Instrument Report. The government makes it a rule to track your activities b.c. you failed your responsibility to track the actions of your government.

Current Cost of Supplies - A price input for resource industries that are extremely sensitive to fluctuation in commodity inputs into their business.

Current Ratio - see Working Capital Ratio

CUSIP - Committee on Uniform Securities and Identification Procedures number; a unique number that identifies a particular security. [Stocks]

Customer service representative - An employee representing a firm and typically providing the initial service or response to a customer complaint

Cut and paste - Moving text from one document or application to another. [computer slang]

Cut-off grade - The lowest grade of the mineralized material considered economic to extract; used in the calculation of the ore reserves in a given deposit.

Cyanide leaching - The extraction of a precious metal from an ore by its dissolution in a cyanide solution

DDD

D - The fifth letter of a Nasdaq-listed stock ticker symbol that indicates the security is newly listed with the bourse.

Daily average - The average price that a security traded at during any individual day.

Daily Moving Average - The price sum of all trades made during a market day dividied by the number of trades for the day provide a mathematical average. That average for each day is plotted with time on one axis and price on the other axis which therein forms a chart that shows the price action, and associated support and resistance levels. [TA]

Darkside - Coins: non-US coins. Gaming: Playing the 'Don't Come' on the Craps Table.

DAX - Deutscher Aktienindex. German stock market, equivalent to the DOW 30.

Day Order - An order only good during that day's trading session.

Days on Market - The number of days that a home takes to sell. An indicator of local market strength as it reflects inventory, demand and pricing power. [RE]

Days Payable Outstanding - A breadth indicator measuring internal company financial strength via their ability to pay bills on a timely manner. determined by dividing the total Accounts Payable by the cost of sales times the average number of days outstanding (as a weighted basis) for each account.

Deal Discussion - 1. Talk on an internet board regarding offers at retail outlets; specifically regarding the benefit of discount, rebates, etc. 2. Non-exclusive discussion between to parties regarding sale of something.

Debenture - A bond issued without a backing security other than the ability to pay back at a future date.

Debt Coverage Ratio - A criterion for mortgage underwriting; the ration determined as the Net Operating Income divided by Annual Debt Service

Debt Exchangeable for Common Stock - A debt instrument that pays a yield and also allows the holder to exchange for a companies common stock at a later date.

Debtor in Possession - A company in Bankruptcy (Chapter 11) that continues operations.

Debt Service Coverage Ratio - A measure of internal cash flow calculated by dividing the net operating income by the total debt service.

Debt to Income Ratio - The measure of total debt divided by annual earnings; an indication of credit-worthiness.

Deck - The staging area where personnel and supplies are loaded onto the cage which is lowered into the mine shaft.

Decline - An underground tunnel developed on a sloping grade, where the tunnel rises in elevation from the ground surface; used to enter and access a mine shaft. aka ramp.

Deep Leed - An alluvial deposited seam of gold-bearing gravel.

Decline Shaft - An inclined mining shaft

Deed - An instrument used to transfer ownership (such as a house) or other rights in an asset.

Deed in Lieu of Foreclosure - In situations where a borrower can no longer make payments on a property, is in default, and wants to avoid a foreclosure a lender may accept a deed in lieu of foreclosure if the current fair market value of the property exceeds the outstanding amount owed. In this case the owner simply turns over the house to the lender and the lender does not pursue the debt. This looks like a foreclosure on the borrowers credit file. If more is owned on the house than it is worth, the bank may not accept DIL and instead might accept a short sale, where the bank accepts less for the debt than is owed.

Deep Mirror Proof Like - A business-issue (not proof) coin with watery looking background caused by a high pressure strike by dies of exceptional detail and integrity.

Deferred Accounts - Investment vehicles such as a ROTH IRA where one can make a contribution and not be taxed until a later date, allowing for initial investments to grow tax-free.

Deferred Acquisition Costs - Those sales costs incurred by a firm needed to acquire a new customer that are calculated across the life of the account.

Deferred charge/expense - An asset billable to a future statement.

Deferred Retirement Option Plan - A qualified (section 401) pension plan where an employee (typically State civil service) has enough years to draw a pension but is not old enough to require and therefore is no longer able to collect additional premiums into the pension plan. In this case the pension plan begins paying out under specified rates and conditions and allows the employee to continue accruing future pension benefits.

Defined Benefit Plan - An employer-offered retirement plan. Employees have little input to plan decisions since benefits are calculated using standard formulas. The investment portfolio is managed by the company.

Defined Contribution Plan - Retirement plan where employee contributes, sometimes partially matched by the employer, into an account controlled by the employee. Examples of defined contribution plans include 401(K) plans, 403(b) plans, employee stock ownership plans and profit sharing plans.

Delivered Ex Ship - In international shipping terms, an agreement to deliver a product under certain provisions at a certain port.

Delivery - The transfer of a physical commodity from a futures contract seller to a contract futures buyer; cash settlement. [futures]

Delivery Month - The span for al futures contracts that expire within the period.

Delta - The ratio of change in price of an option and the change in price of the underlying future.

Demand Deposit Account - A banking account establish for frequent cash deposit and withdrawal transactions.

Demonstrated reserves - The term for all indicated and measured resources and reserves on a mining property. This is a colloquial term that is not defined by regulation.

Department of Interior - US Agency, via the Bureau of Land Management, that oversees mining claims.

Depletion - A form of depreciation by a resource company that recognizes the declining value of a n asset class such as minerals or timber on a balance sheet.

Deposit - An ore deposit sufficiently large and in high enough grade that warrants further exploration upon a prudent review.

Deposit Trust Corporation - A subsidiary of the Depository Trust and Clearing Company established in the 1970's to standardize security trading. As with all other government manipulation of free markets, the DTC now essentially holds all of your internationally traded stocks in its name, not yours.

Depository Trust and Clearing Company - A series of corporations and clearing trusts involved in mandatory laundering of all international security trading.

Depreciation - Recovery of the capital or replacement cost of an asset that declines in value over time along a scheduled basis on a balance sheet.

Designated Order Turnaround - An trade routed electronically instead of through a broker on the NYSE.

Detectors - Electronic or analog instruments used as early indicators, for instance, of poison gas or lack of oxygen in a mine. Any equipment used within a monitoring system

Detonator - A small piece of equipment that produces a signal, blast or other discharge of energy large enough to ignite a larger source of explosives. Detonator types include caps, exploders, and radio frequency devices.

Detritus - In soil science, the term that refers to organic material on the soil surface that hasn't yet begun to decay. 2) In geology, or a more general term for all loose and unconsolidated soil.

Detonator House - Store place for detonators.

Destor-Porcupine Fault Zone - Precambrian rocks in greenstone, containing gold deposits in the Ontario, Canada region.

Diffuser fan - A fan directly mounted on the person of a miner to supply a source of purified air to the berthing zone and to direct poorer quality air way from the breathing zone.

Diffusion - Blending of a gas and air, resulting in a homogeneous mixture. Blending of two or more gases.

Dilution - Waste ore, typically removed as overburden, without economic metal recovery yields that lower the overall yield of the ore body.

Digital Rights Management - Copyrighted works and other intellectual property.

Dilution - 1) Waste which is commingled with ore in the mining process. 2) The net affect on company book value through issuance of too many outstanding shares.

Direct Access Trading - A client to client trading platform for the Nasdaq; enables a trade without using a broker.

Directional Drill - A drilling rig that can install an angled boring.

Directional Movement Indicator/Index - A ratio that determined is in a trading trend. Developed by J. Welles Wilder.

Direct Participation Plan - A passive tax sheltered trust that would allow a large group of investors to partake in the profits or losses of ventures such as real estate or oil and gas exploration.

Direct Purchase Plan - A program that allows purchase of equity shares directly from a corporation (though often uses a transfer agent) instead of a broker.

Disclaim - The act of refusing a willed estate.

Disclaimer Trust - Used for estates in the ballpark of $2M.

Discount - The lowest price below par value where a treasury product is sold on the open market.

Discount Bond - When a bond is valued less than its face amount. For example, a series E US savings bond purchased for $50 when the face value is $100.

Discounted Cash - Business valuation [econ model]. A process where historical financial records are used to assess the business cash flow. A pro-forma cash flows for a 10 year period is then developed by making assumptions on growth in both revenues and expenses under the current (as is) business model and customer base. A terminal value of cash flow for year 10 is then developed less the weighted cost of capital (buyers burden). The Net Present Value of these cash flows determine what the business is worth, though purchase price should be considerable less.

Discount Rate - Interest rte that is calculated on the future, not present value, cash flow.

Disseminated Ore - Small amount of economically valuable minerals spread throughout the gangue matter.

Dividend - A payment by a company to its shareholders either in cash or more stock form retained earnings.

Dividend Discount Model - Determined by dividing the dividend per share by the the (discount rate-dividend growth rate). A formula that attempts to define the full net present value of an equity.

Dividend Enhanced Convertible Stock - Preferred stock that pays dividends and also offers the option but not the right to convert to common stock at a later date.

Dividend Reinvestment Plan - Where dividends paid by stock or bonds (or their funds) are poured into purchasing more of the issue rather than paid directly to the investor.

Dividend Yield - Divide cash dividend per share by cash price of the share to determine. For example, where you purchase company XYZ for 100 shares at $8.50/share your initial cost outlay is $850.00. If XYZ stock pays a dividend of $0.25 per share you each quarter you will net (25/quarter x 4 quarters) = $100 per year for 100/850 or 11.76%. Thus, the dividend yield is 11.76%. This is a very healthy yield and therefore shows you that there is some risk to your capital in this stock.

Doing business as - When incorporating, the firm does business under a fictitious name. The announcement stating the name and the type of business are advertised in the local paper under the business section.

Dollar Cost Averaging - Buying a stock or other position in a series of steps to either lower or increase the basis cost. Also, buying a certain amount over an extended period of time at regular intervals to average out the amount paid for any one lot.

Dominant Market Theory - The notion developed by Beasley in 1997 that there are equity market trends with the dual characteristics of high productivity and low volatility. This very desirable condition can be determined and utilized for maximum profit, for up to months a time. Required indicators are 1) Russell 2000 Index (RUT-I) in a strong uptrend and 2) The OTC action must dominate the NYSE.

Do Not Increase/Reduce - An order to the broker submitted along with a buy or sell trade request to not change the number or price.

Don’t take no wooden nickels - Slang, American for Caveat Emptor

Doré - Unrefined alloy consisting predominantly of gold with lesser quantities of silver and base metals.

Due-on-sales clause - Title transfer (i.e. through quit claim on deed) triggers note holder to demand full payment of note [RE].

Double Barreled Bonds - Those bonds pledged with two or more secured sources of repayment.

Double Down - To increase one's position in an equity or asset after the price has changed (typically, after halving). The new position changes the average entry point.

Double top/bottom - A technical trading chart formation where a certain price target is challenged twice but does not fail; often signaling trend reversal.

Dow Jones (Industrial Average) - The average of 30 weighted large cap stocks. There is also a Dow Jones Transportation Index and other indices. List of all stocks previously part of the DJIA.

DJI                   Dow Jones Index [index]

DJIA                Dow Jones Industrial Average [index]

DJT                  Dow Jones Transportation [index sector]

DJU                 Dow Jones Utilities [index sector]

DJAIGCI         Dow Jones/AIG Commodities Index

Downside - The predicted amount that a price will decline, based upon technical analysis, before the investor sells.

Downstream - Retail marketing sectors, especially in Multi-Level Marketing companies.

Down and In Option - An option that seeks to reach the barrier price level for a commodity, at which point it becomes a vanilla European option (either call or put). The option expires worthless should the price not reach the barrier level.

Down and Out Option - An option where the holder has the right but not the requirement to exercise their European option (put or call) at any exercisable point before the price hits the barrier level.

Drift/drive - A horizontal tunnel driven along, or parallel to, the strike of the ore body, for the extraction or exploration of ore [Mining]. The combined deposition of clay, silt, sand, gravel, cobble and boulder transported by glaciers and deposited as the rock falls out of the ice flow [Geology].

Dubai Gold and Commodities Exchange - Commodities futures exchange established in Dubai in 2005.

Due diligence - Market research performed on your own sufficient to make an informed investment decision.

Due on Sale Clause - The provision in most mortgage terminology that upon sale of a home or transfer of the deed, the loan is payable in full.

Dun and Bradstreet - A large commercial credit advisor [Finance]

Duration Gap - A type of financial risk measuring devices used by institutions to both quantify and qualify the difference between cash inflows from assets and cash outlays from debts.

Dwt - Pennyweight. Obsolete unit for measuring coinage based upon the Roman Denarius, originally.

DX - Symbol for the US Dollar on the currency exchanges.

EEE

EAFE - The European, Australian, and Far East stock index, computed by Morgan Stanley

Earned Income - The sum of all types of compensation made as wages working for somebody else.

Earned Income Credit - A tax credit taken by those with children or very low incomes.

Earned Surplus - See Retained Earnings

Earnings Before Interest and Tax, Depreciation and Amortization - Earnings before deductions, a measure of cash earnings.

Earning Before Interest After Taxes - Calculated as revenues after cost of gross sales and expenses are removed.

Earning per share - An important indicator of the financial health of a corporation; The ratio is developed by dividing net income by number of outstanding common shares.

Earnings plow-back - When a company puts earnings back into the operation rather than pay out to investors as a dividend. [Finance]

Earnings Power Value - A business valuation method based off Graham and Dodd’s postulate that earnings assumptions correspond directly to levels of distributable cash flow. Further, these assumed earnings level remains constant over time. There is growth variable in this model. EPV = Adjusted Earnings x 1/Cost of Capital. [Finance]

Earnings report - Also known as a profit/loss statement; the reporting of a company's operating reports and profitability over the previous reporting period.

Earnings Yield - Earnings divided by price.

Economic value added - A measure of a company's economic profit calculated as Net Operating Profit After Taxes less Capital x the Cost of Capital.

Economy of Scale - The ability of a concern to operate more efficiently the larger it grows. For example, the ability to purchase at a lesser wholesale price, not retails price, when purchasing in bulk volumes. As purchasing power increases with size and market share, the cost of production for each item is also spread across the scale of the organization.

EDGAR - Electronic Data Gathering, Analysis and Retrieval. The Securities and Exchange Commission created this electronic filing system to track all trades and make corporate trade data more readily accessible to the public.

Edge - The perimeter third side of a coin. The plane where two facets of a stone meet.

EDS - Energy Dispersive Spectroscopy is a type of micro metal analysis.

EE - USGov't bond issued at 1/2 of face value, then reaches face value at maturity (Patriot bond)

Efficient Frontier - The market portfolio management theory developed by Markowitz which states the optimal portfolio expectancy and return is defined by level of risk for each portfolio asset class.

Efficient Market Hypothesis - A theory developed to explain that equities are always fully valued by the market place. As such, attempts to 'beat the market' through timing or technical or fundamental analysis will not create a larger return over the long term.

Electronic Funds Transfer - A money wire via Western Union or competitors.

Electrum - An alloy of gold and silver first used by the Greeks in coinage starting approximately 600 BC.

Electrotype - A counterfeit or copy coin developed by use of electroplating an impression, typically using wax, of the counterfeited coin.

Elliot Wave Theory - A type of technical analysis based upon wave sequences and oscillations that formulate price prediction.

E-mini - A small futures contract on the S&P500, NASDAQ 100, or Dow 30 indices. These future contracts are entry level derivative futures index trades.

Employee Benefits Security Union - A US Department of Labor Division that regulates the reporting and disclosure of financial information, and union and workers benefits and rights.

Employee Retirement Income Security Act of 1974 - [US Labor Law]. Governs private pension plan administration and investment practices.

Employee Share Ownership Trust - The program which oversee the distribution of company shares to the employees.

Employee Stock Option Plan - A company benefit that provides an employee the option but not the requirement to purchase company stock on favorable terms.

Employee Stock Purchase Plan - A company benefit that allows an employee to purchase company stock on favorable terms.

Employment Cost Index - Published by the Department of Labor, attempts to track total employee compensation (wages+benefits). Rising wages is the primary indicator of economic (wage) inflation. Without a rising wage base, there is no economic inflation - but other inflations (money, commodity) could be occurring.

Enrolled Agent - Someone who has passed the requirements specified in Treasury Department Circular 230 and therefore can represent someone else to the IRS.

Enter Open Stop - A stop-order instruction to the clearing firm. AKA Open Outcry.

Enterprise value - Debt plus market capitalization. An important tool when evaluating the value of a firm for purposes of purchase. The enterprise multiple (Enterprise value divided by EBITDA) can be compared to other corporation.

Entry point - The price where an asset was purchased.

Environmental Assessment - An assessment conducted by a US federal land management agency of environmental effects required for major projects on federal lands, such as a large mine. (compliance)

Environmental Impact Report - An involved assessment by a State agency of environmental effects required for major projects on federal lands, such as a large mine. (compliance)

Environmental Impact Statement - An involved assessment by a US federal land management agency of environmental effects required for major projects on federal lands, such as a large mine. (compliance)

Environmental Protection Agency - The federal agency responsible for regulations that prevent pollution. [US, Ghana,]

Epithermal - minerals that were deposited from heated waters forming deep in the earth left near or at the surface. Many gold deposits, especially quartzine ones, were developed this way.

ERISA - The Employee Retirement Income Security Act of 1974. An act passes by Congress ostensibly to oversee and regulate the maintenance and upkeep of employee benefit plans and pension funds, especially those of organized labor.

Equity - An entity representing a share in the capital or stock of a company; ownership interest invested either by financing or 'sweat equity' where ownership is a gained through working for the company.

Equity indexed annuity - An annuity that pays a dividend scaled to the returns of a particular index such as the Dow Jones Industrial Average, less expenses and fees.

Equity Market Capitalization - The total dollar value of all companies in a given sector.

Estimated Time of Arrival - When an item is expected to be delivered.

European Central Bank - The European Union financial house.

European Interbank Offer Rate - The rate of interest at which European banks loan to each other.

European Monetary System - The financial system in Europe that preceded the Euro.

European Union - The political organization of European states.

Euro - The monetary unit of the European Untion. [currency symbol]

EWT, Ewave Elliot Wave [TA] - That theory which develops expected price action for a traded entity based upon a series of impulse moves up (or down) and the series of calibrated retracements, each unfolding in a defined and systematic manner.

Excepted Dividends - Those dividends paid to a corporation by another corporation with specific tax consequences per US and Canadian tax code.

Exchange - A bourse, a physical or electronic marketplace matching buyers and sellers.

Exchange-for-physical trade - A private and simultaneous exchange of a futures position for the corresponding cash position.

Exchange Stabilization Fund - A unit of the US Treasury that buys and sells foreign and internal currency, despite free market principles, to maintain their own version of how the world might suit their purposes.

Exchange Traded Fund - Portfolio of equities patterned after an index [i.e. (VTI )Vipers based upon the S&P 500.]

Exchanges For Physicals - The negotiated settlement of long and short futures positions in commodity markets held by two parties for actual delivery of the commodity in tangible form.

Ex-dividend - Without a dividend. That is, when a buyer holds a stock purchased too soon before the dividend date the position is not paid the dividend by the company, it is retained. The ex-dividend date is the day when a stock must be held to assure the dividend date is paid. Ex-dividend dates may vary for those securities traded on more than one bourse.

Exercise - When an option holder exchanges position for the underlying futures contract.

Exercise Price - That price where the buyer may, but is not obligated, to purchase or sell an underlying futures contract (strike price)

Exergue - The portion of a coin containing mint mark and date.

Exhaustion gap - A technical indicator whereby a gap in price near the top (or bottom) of a move signals a change in market sentiment.

Exonumia - Token, medallions, or other types of objects similar to coins holding a monetary value but not serving as currency.

Expectancy - The average amount that you can knowingly win or lose on a trade.

Expected Return - The average probability distribution of all expected returns (including losses) on any investment.

Expiration - The last day when an option may be exercised.

Expire - Allowing the expiration date for an option to pass without exercising position or offsetting the contract.

Ex-Pit Transaction - A non-public exchange off the bourse (block transfer).

Exploration Decline Plan of Operations - A written review of environmental and operational aspects to this particular mine discovery phase.

Exponential moving average - A type of technical analysis using a smoothed data fit. [TA]

Extrapolation Bias – relying on past performance as indicator of future performance. [FA]

Ex Works - In shipping, a requirement that the seller offer pickup at place of manufacturing, origination or sellers business office.

Exposition - Trade show

Eye appeal – A subjective visual quality than enhance the appearance of a coin.

FFF

FAQ - Frequently asked questions about a topic.

Face - AKA Obverse; the front of the coin or currency. Name generated because the obverse often has the face of a person on the coin.

Face Value - The initially stated principal amount of a coin or bond or other asset. The denomination of coin or currency (One dollar, Ten Cents, etc.)

Facet - Cut or face of a gemstone; the cleavage plane of a particular crystalline form.

^FCHI - French CAC [bourse]

FAKO - Proprietary credit formulae.

Fair Credit Reporting Act - US law (1990) governing management and reporting of consumer credit scores promulgated by the Federal Trade Commission.

Fair Isaac Credit Organization - The entity with develops a credit score based on algorithms.

Fair market value - The retail price for a property. [RE]

Family Limited Partnership - An estate planning tool similar to a trust, but establishes a General Partner with direct oversight of the estate. Can be amended or dissolved at any time with concurrence of all partners. Typically used to transfer family businesses, especially farms, from one generation to another.

Fannie Mae - A US Government Sponsored Enterprise that bundles and resells mortgages on the open market. Fannie Mae is supposed to facilitate mortgage lending and allow higher levels of home ownership by buying mortgage loans from banks and mortgage originators. [Ticker=FNM]

Farm Bureau Bank - A banking concern that loans to institutional members of the US Farm Bureau.

Fasces - The design element on the back of the winged liberty (mercury) US dime. Based upon the Roman design symbolizing strength and control.

Fault - a displaced rock fracture

Fe - Iron

Federalism - The system of government where power is shared by consenting constituent states and an umbrella federal entity with explicit powers. Practices in the united states between 1787 and 1864 where federalism was replaced by a corporate government authority.

Federal Acquisition Requirements - Federal Regulations governing US contracting activities.

Federal Bank - A central bank chartered by the federal government.

Federal Deposit Insurance Corporation - A government corporation which insures deposits of member banks.

Federal Emergency Management Agency - The US agency responsible for natural emergency (flood, hurricane etc.) planning and response. For example on the planning side, FEMA develops flood maps which show those communities in danger of flooding.

Federal Energy Regulatory Commission - Governing federal agency that promulgates legislation concerning domestic power. [US]

Federal Housing Finance Board - Office of Fannie Mae that tracks the median average home prices nationally.

Federal Funds Rate - The interest rate at which bank and other depository institutions loan each other money.

Federal Home Loan Mortgage Corporation - The government corporation that facilitates purchase of mortgages and mortgage insurance. (AKA

Freddie Mac)

Federal Housing Administration - The institution giving people homes who neither deserve one or are able to maintain one.

Federal Home Loan Mortgage Corporation - aka Freddie Mac. Another bankrupt government sponsored enterprise dragging down the productive side of the housing sector through wholesale waste, fraud and abuse.

Federal Insurance Contributions Act - AKA social security. The 9.5% drag on either side of your labor.

Federal National Mortgage Association (FNMA) - AKA 'Fannie Mae' - A government sponsored enterprise established by Congress in 1938 as a bourse creating a secondary market in mortgages. In 1968 Congress split FNMA into two separate entities - FNMA and the Government National Mortgage Association (GNMA). FNMA held its nickname, although congress changed its charter into a private corporation that could invest in derivatives other than mortgage based. Congress created this change to allow their friends to control the higher-performing portfolios. The lesser performing portfolios, or those with a lower expectancy, were shelved into Ginnie Mae, a wholly government owned corporation. This allowed the public to hold the less worthy debt and lower-performing portfolios.

Federal Open Market Committee - The seven Board of Governors and five reserve bank presidents that set monetary policy of the Federal Reserve. [US Fed.]

Federal Reserve Board - The governing body of the federal reserve, composed of representatives of member banks.

Federal Reserve Bank Note - Authorized by the Federal Reserve Acts of Dec. 23, 1913 when the public was not paying attention, and confirmed by acts of April 23, 1918 and March 9, 1933. These notes served as obligation to pay value of the bank note face value by the individual issuing bank. Eventually such responsibility was foisted on the citizenry. The 1933 note issuance proved especially insidious as it accompanied theft of privately held citizen gold by the government (ostensibly to fund printing the notes).

Federal Reserve Note - A fiat debt obligation trading as legal tender authorized by the Federal Reserve Act of February 1913. The obligation to pay the face note value shifted from member banks to the US Treasury department. The profit made by arbitrage (value between costs to print and face value) shifted from the citizens of the US to a privately held banking cartel. The beginning of private gain by public pain in the US. [currency]

Federal Trade Commission - The federal agency [US] tasked with enforcing consumer protection and antitrust laws and generally assuring a free market place per the trade clause.

Federally Chartered Financial Service Center - i.e credit union

Fiat - Currently that has no backing by interest or specie such as gold or silver. Instead, such promises are enforced by the strength of the issuing government public honor, face, credit and - ultimately- its army.

Field –Those blank coin surfaces surrounding the coins devices. Collectors like finely polished fields enumerated as proof like, deep proof like, or cameo.

Fill or Kill - An 'all or none' trade to the broker.

Financial Accounting Standards Board - An independent accounting board that establishes and regulates standards of financial accounting ethical conduct in the US [aka 'generally accepted accounting principles'] ([Fin.; US]

Financial Forensics - The application of accounting and finance, typically in conjunction with dispute resolutions or to support fraud and theft investigation or in divorce cases, to determine the flow of money and assets and whether the flow was lawful.

Financial Institutions Reform Recovery and Enforcement Act - An act passed by Congress which established the Resolution Trust Corporation, to bail out the Savings and Loans.

Financial News Network - As the name implies....

Financial Risk - Elements of uncertainty that can affect monetary forecasts, income streams, investments and the like. Examples include interest rates, credit risk, stability of the company or investment, and other factors that determine rates of return.

Financial Stability Forum - Organization comprised of international bankers and government financial engineers for collusion and interference in world markets and banking systems. [BIS/Int. fin.]

Financial Stability Institute - BIS arm formed to provide international banking regulators with their marching orders. [BIS/Int. fin.]

Financial Statement - A report declaring a company's financial and economic position over a regular and fixed period of time, mostly quarterly and annually. Financial statements are governed by reporting regulations and are typically comprised of Earnings sheet, Balance Sheet, and Cash Flow Sheet.

Finding of No Significant Impact - The decision document that accompanies an EIR. [compliance]

Fine Gold - Only refers to pure Au at 24 Karat - .999 fine - gold. Fineness is a description of gold purity presented in parts per thousand where .999 means only one out of a thousand parts is a non-gold substance (likely copper or silver or other elements commonly found in ore with gold).

Finite-life Real Estate Investment Trust - (see also REIT)

First in, first out - Trading; tracking trade position status when more than one position extant. The first position bought is the first position sold.

Fiscal Period - A set period of time for which financial statements and other accounting indicators are tabulated. Fiscal periods are typically quarters or years. They may or may not coincide with a calendar quarter or year. For instance, many financial years or budget years start in the middle of the calendar year.

Fixed Asset - Real property that will not be liquidated within one fiscal year.

Fixed Asset Turnover - The ratio developed by dividing fixed assets (not depreciated) into gross sales. A measure of efficiency for industries such as manufacturing, but not extraction, services, etc.

Fixed Costs - An expense independent of production; overhead.

Fixed Income - High grade investments which pay out profits as dividends.

Fixed Liability - Long term (over one year) debt or goodwill.

Fixed Rate Mortgage - A mortgage that does not have a variable interest rate. Therefore, the payment changes only to reflect a reduction of principal owed.

Fixed Price List - This is an inventory with the ask price.

Flan -A planchet.

Flexible Exchange Option - An option where one or more parameters such as strike or price can be modified after initial issue.

Flexible Savings Account - A tax-advantaged account that allows purchase of medical and other associated expenses through a cafeteria plan provided by an employer or association.

Flip - A plastic container used for coin handling and storage.

Flip in Event - When a stockholder becomes an Acquiring Person after the share acquisition date.

Float - Outstanding shares for a company.

Floating Rate Note - A loan with a variable interest rate that changes on a fixed schedule. The rate is typically tied to a corresponding money-market or other short term security index .

Flood Insurance Rate Map - Areas of flood zones used to set flood insurance for homeowners.

Florida United Numismatist - A coin collectors club in central Florida. One of the largest coin associations in the US.

Flotation - A recovery process by which valuable minerals are separated from waste to produce a concentrate. Selected minerals are induced to become attached to air bubbles and to float.

Focused Fund - In favor during the 1990's, a mutual fund that specializes in a certain sector or business model or other commonality.

Fold - A curve or bend in planar structures such as rock strata or bedding planes. A fold in paper money or scripophily will lower it value if it is not common and typical for the issue. [Geol.]

Footwall - The underlying side of a fault, an ore body, or mine workings

Forex - Over the counter currency and futures exchange market.

Form 1023 – IRS Non profit housing application under 501(c) 3.

Formation - A distinct layer of similarly composed sedimentary rock.

Formula Investing - Investigating via a pre-designated strategy i.e. dollar cost averaging or 'Dogs of the Dow' acquisition.

Forward/Future Rate Agreement - A contract with terms of interest which will be paid on a specified date in the future.

Forward Looking Statement - A material postulation regarding future performance of a company that is regulated by Ontario's Securities act and the United States Private Securities Litigation Reform Act of 1995. These statements include the following terms: Plans, (does note) expects, is expected, budget, schedule, estimates, reserves, intends, forecasts, anticipates, believes, etc.

Forward sales - The sale of a commodity for delivery at a specified future date and price, usually at a premium to the spot price.

Fraudulent Conveyance - Simply - the transfer of assets out of your name to another individual or entity in order to prevent paying out to creditors. aka fraudulent transfer.

Free Asset Ratio - Measure of strength of an insurance firm determined as assets minus liabilities.

Free Cashflow - Cashflow + appreciation write-off.

Free Enterprise - Private Capitalism

Free On Board - In contracts, the requirement for the seller to deliver freight onto the ship of the buyer. In contracting law, 'free' means the seller maintains the requirement to deliver contract goods.

Freegan - One who searches out free vegan food, and other staples and consumer goods, in dumpsters. An extreme position against capitalism as currently practiced.

Frontrunning - When a security broker buys the cheaper shares for themselves and the more expensive shares for their so-called customers.

Fully Split Bands - On a winged liberty 'mercury' dime, the horizontal bands are fully struck and separated.

FTSE 'Footsie' - An index specially firm that establishes the FTSE 100 stocks of the London Stock Exchange.

Fully Split Bands - On a mercury dime, the rounded and completely separated horizontal bands across the fasces.

Full Step - A Jefferson Nickel with a fully struck obverse.

Full Split Bands - A Mercury Dime with a fully struck obverse.

Full Head - A Standing Liberty Quarter with a fully struck obverse.

Full Strike – Excellent detail in the coin devices.

Fundamental Analysis - The study of the very basic ratios and elements that support a company. Examples are Price/Earnings ratio, sales, growth, growth of sales, market share, etc. In other words, what inputs go into evaluating the inherent worth of a company. [trading]

Funded Debt - Debt that requires a certain percentage of cash or other assets be seta aside for payment in the future.

Funds Available for Distribution - The cash available to pay dividends on a security.

Funds From Operations - Similar to funds available for distribution, refers to the available net income less changes due to amortization, depreciation, and tax changes. Primarily used as a metric by REITs.

Funding - The conversion of short term debt into long term debt; initial start-up capital.

Future(s) - The right but not the obligation to buy an instrument at a future date.

GGG

G - The symbol for tickers on the Nasdaq indicating that it is a preferred company bond.

Gamma Short - A Short position in stock XYZ options. For example, a position short $35.5 calls and $35.5 puts for the current month. This is a $35.50 straddle short.

Gangue - Waste rock or ore containing minerals below economic recovery value.

Garbage In, Garbage Out - The theorem that the output is a function of the quality of information inputted.

Gas to Liquid - The conversion of natural gas to a liquid form to reduce security concerns and increase transportability.

GATA - Gold Anti-Trust Action Committee

General Agreement on Tariffs and Trade - A free trade agreement (1947) promoting international trade by restricting existing barriers such as tariffs. Forerunner of the World Trade Organization.

General Partner - An substantial owner in a concern that makes substantial decisions regarding future of the organization.

General Services Administration - The US government branch responsible for purchasing and selling government real property.

Generally Accepted Accounting Standards - The general accounting guidelines, principles and standards established by trade members for the financial and accounting practices used to establish corporate financial statements.

Generally Accepted Auditing Standards - Auditor guidelines established by trade representatives that govern standards, fieldwork, and reporting.

General Ledger - The primary method for keeping track of business assets and liabilities. The ledger has assets on one side of the sheet and liabilities on the other side. [acct.]

Geotechnical - Of or relating to geological learning, especially the study of ground structure and stability. [Geol.]

German Silver - A copper/nickel/zinc alloy that has NO silver. Aka 'American silver', 'Feuchtwanger's composition' or 'nickel silver'.

General Obligations - Bonds approved by voters and secured by their tax rolls. i.e. the full faith and credit of the taxing authority.

Geochemistry - The study of the distribution and amounts of the chemical elements in the media (air, sediment, soil and water).

Geochemical Prospecting - A prospecting technique where the content of certain metals in soil and ore defines anomalies that are further tested.

Geochemical Sampling - Samples of soils, stream sediments or rock chips taken to ensure the quantities of trace and minor elements.

Geophysics - The study of the mechanical and physical properties of the earth’s crust.

Geophysical Surveys - An exploratory methodology used to determine buried physical and geomorphic structures at the earth’s surface.

German DAX - German equity market. [bourse]

$GJX - Energy Commodities Index - [Goldman Sachs basket]

$GKX - Agricultural Commodities Index - [Goldman Sachs basket]

Glass-Steagal Act - Passed by Congress (and repealed in 1999) ostensibly to put in a firewall between commercial banking and the selling of securities in order to prevent irregularities that helped contribute to the Great Depression. Repealed in 1999 in order to lessen the imminent crash of the Nasdaq by creating bubble assets in other arenas and generally propping up the financial markets and industries.

Global Depository Receipt - International banks issue a certificate for shares in a foreign corporation. These certificates trade as domestic shares in the home nation but can be sold and distributed to bank branches in other countries worldwide.

Gold - A precious metal and financial standard throughout the ages.

Goldman Sachs - Major component of the US financial oligarchy

Gold Bullion Securities - A derivative that purportedly is backed by gold, at least in part, and trades like a security.

Gold certificate - U.S. paper money that was redeemable in gold coin. Once teh backbone of the US currency infrastructure, made illegal for citizens between 1933 and 1964.

Good-(un)’til-call; good ‘til cancelled - When a market order is placed good until completed - as opposed to one only valid for a trading day [Trading].

Goodwill - Net worth, or capital invested in a business. This concept was developed in 1494 by Luca Paciuoli within his doctrine - Summa Arithmetica to explain that liability and asset columns will always (and only) match when a corresponding place mark is on the liability column.

Government Bond - Promissory note issued by a government to pay back an amount loaned by an individual with interest paid.

Government National Mortgage Association - (aka 'Ginnie Mae') - A government owned corporation within the Department of Housing and Urban Development.

Government Sponsored Enterprise - Private Corporations established by Congress to prop up various sectors and otherwise serve as funnels for non-competitive fiat distribution to favored channels and outlets. Examples include Fannie Mae, Sallie Mae, Freddie Mac, etc.

Government Sponsored Retirement Arrangement - Canadian retirement funding plan.

GOX - Chicago Board of Exchange Gold Index

$GPX - Precious Metals Commodity Index [Goldman Sachs basket]

Grade - The relative quality or percentage of ore metal content. [Geol.]

Graduated-Payment Mortgage - Those type of payments that increase over time.

Grain - An early weight derived from one grain or wheat or barley. Today a grain is recognized as 0.0648 grams troy. See Weights and Measures for more information.

Gram - A metric unit of both mass and weight. A gram used in troy weight to measure gold is approximately 1/32 troy ounce. See Weights and Measures for more information.

Gram per ton - the common way of measuring the quality of an ore deposit. [Geol.]

Great Britain Pound - the currency of the UK. [currency symbol]

Green Mailing – Anti-takeover technique where the target company buys the stock of larger firm above market price (or otherwise available to shareholders)

Gresham's Law - The theorem that bad money drives out good

Greysheet - The Coin Dealer Newsletter, a price guide for U.S. coins intended for dealer-to-dealer sight seen transactions.

Gross Deposit Receipts - that portion of revenue represented by total sales

Gross Domestic Product - The value of goods and services produced by the aggregate economy over a set period of time. This includes debt and interest produced on debt, so it provides a poor measure of economic health for those countries that export debt.

Gross National Product - The total value of gross domestic product plus profit generated by citizens working internationally. This figure does not include monies made by guest workers or other-no citizens working domestically.

Gross Operating Income - This figure, the expected income of a property used as a multiplier of gross annual income produces an estimate of a property's value.

Gross Profit - Revenue less expenses, interest, and taxes.

Gross Profit Margin - The difference between the costs needed to develop and bring a commodity to market and the net revenue produced upon sale of the finished commodity product.

Gross Sales - total sales invoiced less allowances, discounts and rebates

Ground Lease - Where the tenant must construct the buildings or other improvements on raw, leased land.

Group of Ten - (Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, and the United Kingdom

Generally Accepted Accounting Practices - The standard procedure for conducting accounting in the United States.

Growing Equity Mortgage - debt structure where the rate is fixed but the monthly payment increases over time because more principal is paid off.

Guaranteed Investment Contract - A Canadian fixed interest investment security.

$GVX - Livestock Commodity Index [Goldman Sachs basket]

$GYX - Industrial Metals Commodity Index [Goldman Sachs basket]

HHH

Hairlines- Light surface scratches on a coin.

Hammer Price - That winning bid called by the auctioneer at an auction (excluding additional fees and commissions paid by either seller or buyer).

Harmonized Codes - System of standardized international tariff reference numbers. (International Business/Shipping)

Health Maintenance Organization - an organization that provides managed health care through use of exclusive contracts.

Heap leaching - A low-cost technique for extracting metals from ore by percolating leaching solutions through heaps of ore placed on impervious pads. Generally used on low-grade ores.

Heating Degree Day - A weathers future contract is valued by determining the number of days per contract period that had an average value below 18 degrees Celsius. An average building or needs heating when the temperature drops below this temperature.

Hedge - The strategy of placing a small wager in the opposite direction of your major wager in case the primary bet does not play out.

Helvetia - Swiss Franc or other gold bullion with the allegorical figure gracing the coin that has representing Switzerland since assigned the name by the Romans.

High Density PolyEthlyene - A grade of plastic.

High Grade Bond - Any bond that is rated by Standard and Poor's or Moody's rating services as either triple-A or double-A.

Highly Leverage Transaction - A deal that requires an individual or organization to double their entire debt with one transaction or meets other similar criteria as determined by the U.S. Office of the Comptroller of Currency.

Hobo or Love Token - A worn coin such as a buffalo nickel upon which an artisan has inscribed an image or pattern. These gained their name based on the the original artisans, those drifting hobos riding the rail system during the depression and spending their riding hours inscribing fanciful or devotional patterns into what little coinage they held.

Hogback - Any ridge with steep sloped sides and a prominent peak.

Holding Company Depositary Receipts - an AMEX ETF Basket, determined by Merill Lynch

Hollow stem auger - A drill bit that allows recirculation of fluids. [mining, drilling]

Home equity line of credit - HELOC. A debt issued by the bank or other financial services firm secured by the value of your house. [RE]

Home Equity Loan - a loan backed by equity in real estate, typically a single family home.

Home Owners Association - The sum of homeowners in a development, especially condominiums or townhouses, that pool their individual authorities and assign to a governing body who collect dues and enforces the bylaws and regulations over what owner may or may not do with their property. Avoid these at all cost!

Homestead - The protection afforded in some states from bankruptcy of a primary residence.

Horizontal Loop Electromagnetic - A frequency domain electromagnetic methodology used to determine sub-surface hydrology or mineral logy.

Host Rock - parent material for a mineral resource.

HUA - heard, understood, acknowledged [US mil. slang]

Hub – A mirror image of a relief die used to make exact replica working dies.

Housing and Urban Development - US Department in charge of housing programs.

^HUI - Goldbugs Index. An index average composed of gold-producing companies.

Hundred Weight - A hundred weight is 100 pounds.

Hurdle Rate - This rate of return must be achieved by a hedge fund before the managing partnership can receive incentive based fees.

Hybrid Mortgage - A mortgage that is both adjustable and fixed rate. This combination mortgage usually has a one-time adjusted interest rate at a preset time. After that point the rate stays fixed for the remaining term of the loan.

Hybrid Vehicle - A car that can use more than gasoline or diesel as a fuel source.

Hydrothermal - The action or process of water heater deep within the earth such as hotsprings, vents, mudpots, fumaroles, precipitated travertine, and geysers.

Hyper Text Markup Language - Code use to develop web pages.

Hypothecate - Pledge to a creditor as security without delivering over; mortgage

III

ICBW - I could be wrong. [internet slang]

Implied Capitalization Rate - Net operating income divided by enterprise value [total market capitalization + total debt]

Impound Account (aka Escrow Account) - A checking account set up by the home mortgage lender used to pay for property taxes and insurance due by the home owner, paid in monthly installments. [Real Estate]

Imputed Income - Income derived from services that an already owned asset produces. For instance, when you own you home the rent that you would have paid is considered imputed income. Also refers to taxable income generated within insurance and annuities.

Incentive Stock Option - A tax favorable approach for exercising company stock options. The holder pays capital gains rate, not ordinary income rates, upon exercise of the stock option in return for meeting certain requirements such as holding the stock for a given period of time.

Income Statement - A form showing your income and expenses over a period of time. Also called a profit and loss statement.

Independent Stock Appreciation Right - Upon exercise of the underlying option, shares granted independently that entitle the holder to receive an appreciation distribution equal to the market price equivalent to the number of shares the holder already has vested less the fair market value on the grant date.

Index Fund - an artificial collection designed to mimic the price action of a specific equity index.

Index Amortizing Note - An interest paying security, typically a short term collateral (note), that has a scalable maturity date that extends when interest rates rise and shortens when interest rates decline.

Individual Development Account - An account set up to matching funds from a government agency or other entity. Designed to teach beginning investors how to save for goals such as Christmas accounts, etc.

Individual Retirement Account - A savings vehicle with supposed tax benefits.

Induced Polarization - The system where polarity is artificially created to aid temporary investigation and understanding. [geotechnical investigation]

Inductively Coupled Plasma- An analytical technique whereby a material is vaporized and the isotopes ratios are compared against known standards. Used to identify percentage or type of unknown materials.

Industrial Development Revenue Bond - A bond secured by a government entity on behalf of a private entity who would not be able to float the bond or gain financing through alternate avenues. The government entity supports the bond to induce development within it jurisdiction to stimulate tax rolls.

Inflation - An artifact of derivative based banking where you purchasing power decreases every year in relation to the banks purchasing power.

Inflation Protected Annuity - An annuity that ensures a rate of return on the investment above inflation by adding an inflation adjustment basis on top of the nominal payment.

Inflation Protected Security - A security that ensures a rate of return on the investment above inflation by adding an inflation adjustment basis on top of the nominal payment.

Ingot - A shaped form, such as a bar, of precious metals that bears the fineness and weight of metal, and typically an assay or producer marking.

Initial Benefit Retirement Plan - When a pension is paid in one initial up-front lump sum.

Initial Public Offering - The initial sale of common or other stock by a firm that is changing from privately held to publicly held. The IPO is underwritten by a firm that issues shares in return for a portion of the company.

INRE - In regards (to)

Inscription - The motto across the reverse and wording across the obverse of a coin, currency or exonumia. AKA legend.

Installment Sale - The sale of property where you receive at least partial payment after the tax year when the sale occurred.

Institute for Investment Management - A financial industry trade group that certifies financial planners.

Institute for Supply Management - Publishes the PPI and PMI.

Institute of Certified Bankers - US banker trade group

Institutional Brokers Estimate System - A database with estimated earnings for various corporations as provided by independent analysts.

Intellectual Property - Intangible property which provides all legal protections as tangible, or real property.

Interest Coverage Ratio - A ratio determined as EBITDA divided by annual interest; this is a relative strength indicator for a company's finances.

Intermarket Sweep Order - A limit order placed to be executed exclusively at one market center (even when market makers have access to better prices on other platforms).

Internal Rate of Return - The interest rate provided by utilizing cash flow to re-invest in the business (as opposed to investing outside the company).

Internal Revenue Code - The bylaws of the Internal Revenue Service, a Delaware Corporation. [US, 1986]

SECTIONS

Section 72T - Early withdrawal from an IRA

Section 162 - Deduction Allowances

Section 179 -Property Depreciation Schedule

Section 402(b) - Taxation of a beneficiary's trust

Section 403 (b) - tax-sheltered annuity plans

Section 412(i) - defined benefit pension plan

Section 457 - Deferred Compensation Plan offered by State or Municipalities. A Qualified retirement plan where you can remove money before 59.5 years of age (or roll into IRA) without penalty. This section was most recently changed substantially by the Economic Growth and Tax Reconciliation Act of 2001.

Section 501 (c) 3 - non profit organization taxation

Section 527 - tax exempt political organization

Section 529 - qualified college tuition savings program

Section 709 - Gift Tax form where gift tax exceeds $11k year.

Section 721 - Exchanging gains from investment property into REIT securities ('UpREIT')

Section 1031 - Exchanging gains from investment property into like-kind real estate instead of paying capital gains tax

Section 1033 - Similar to 1031, but has a 3 year purchase period and is triggered by involuntary sell (disaster, eminent domain, etc.)

Section 1035 - Moving money from an annuity to another security holding vehicle.

Section 1099 - Report on payment for service rendered

IRS FORMS

Form 709: Used for estates settled in value over 2Million USD.

Form 709: Reduces Estate Tax Exemption for gifts over the 12K allotment (Section 6019)

Form 1065: Partnership (i.e.LLC) return (Required for profit splits that are not exactly 50% or tenant in common where the profits are split entirely along percentage of company ownership)

Form 1098: Mortgage Interest Deduction.

Form 2441: Child and Dependent Care Expenses. One of the changes is that a taxpayer no longer needs to pay over half the cost of keeping up a home for a qualified person but that person must have lived with the taxpayer for more than half of 2005.

Form 5305: Individual Retirement Accounts (Various)

Form 5498 - Used by institutions holding your custodial IRA to report tax year holdings and other information to the IRS.

Form 6606: Required submittal for every year that you made a non-deductible contribution to a traditional IRA, but does not apply to a Roth IRA.

Form 6251: Alternative Minimum Tax, Individuals. The minimum exemption amount for a child under the age of 14 has increased to $5,850.

Form 8300: For cash transactions above $10,000

Form 8606: non-deductible IRA conversions

Form 8880:

FORM 1099-A: Acquisition or Abandonment of Secured Property

Intelligent Index - An ETF that is not market weighted as the index to which it is tied, but modified to meet investment goals.

International Chamber of Commerce - Organization representing businesses with world-wide holdings or perspective.

International Finance Corporation - World Bank Member

International Monetary Fund - A supra-national financial entity dedicated to integrating derivative based banking and fiat scrip on a world-wide basis, especially in those countries with previously independent banking and financial systems.

International Organization of Securities Commissions - International Banking Standard regulatory body.

International Securities Identification Number - A unique number for a security as allocated by the National Numbering Agency.

International Standards Organization - Global body which sets a standard set of specifications

Internet service provider - Entity that provides local and regional web service

In-the-money - The condition present when the option strike price is below the market price for a call or above the market price for a put option. [Options]

Intrinsic Value – The financial value of the amount of metal in a coin and the seignorage of the coin. AKA melt value.

Inventory turnover - The ratio found when dividing the cost of goods sold (as appearing on the income statement) divided by the average inventory at cost.

Investment Company Act - An act by congress that established guidelines for regulating investment firms. Massively muddled by Dodd-Frank in 2010. [US 1940]

Investment Company Institute - US mutual fund trade group]

Investment Counsel Association - Financial industry trade association that certifies CFAs who work as investment specialists.

Investors Business Daily - A publication and website devoted to presenting and discussing financial data and issues.

Irrevocable Life (Insurance) Trust - An estate planning tool that establishes a trust to prevent a taxable event upon payment of life insurance benefits.

Irrevocable Line of Credit - A credit offer that cannot be terminated according to its contact

I-Shares - Shares of a portfolio modeled upon an index, such as the S&P 500.

ISIN - International Securities Identification Number [ISO ticker information]

Island Top - A technical trading pattern where a gap up (or down) is proceeded by another gap in the opposite direction. This pattern is considered strong resistance or support. [TA]

JJJ

Jeton - Coin like metal disc used by merchants to mark account status.

Under Islamic law, jizya or jizyah (Arabic: جزْية; Ottoman Turkish: cizye) is a per capita tax levied on the state's non-Muslim citizens

Joint Venture - A partnership or business relationship where two previously existing entities come together, form a new business/partnership/concern to join resources, and conduct additional business as this new entity.

Joint Tenants in Common - An account or property owned by more than one individual, on a pro-rata basis. Survivorship may or may not transfer benefit upon death.

Joint Powers Authority - An entity where two previously existing regulatory authorities come together in a partnership as a new entity to regulate a new concern.

JORC - Joint Ore Reserves Committee. An Australian committee responsible for promulgating the Australian Code for Reporting of Mineral Resources and Ore Reserves.

JPY - Japanese Yen [currency symbol]

JSE - (Johannesburg) Securities Exchange [South Africa bourse]

Jumbo Mortgage - A loan that does not conform with maximum levels allowed by FNM or FRE.

Junk Bonds - Those debentures issued by entities with credit ratings below investment grade as tracked by the three major rating organizations. The actual 'Junk' rating varies between the three majors.

Junk Silver - Circulated coinage traded for melt, not numismatic, value.

Junior Capital Pool - A Canadian business model that allows start up ventures in the resource and commodity sectors to issue shares before beginning operations.

KKK

KBW - Keefe, Bruyette & Woods Index (banks); aka BKX

Keltner Channel - A technical analysis indicator that uses a moving average and supporting trend or rail lines. [TA]

Kg - Kilogram

Kicker - A bonus tied to a security, such as a warrant or convertibility option, that provides added value to an underlying security or fund position and therefore makes the security or fund more attractive than similar and competing issues. Aka sweetner. In poker, the tie-breaking card.

Kingsdale Shareholder Services, Knight-Ridder - A Canadian 'specialist' firm. [Trading]

KOSPI 200 - A South Korean Bourse. Korean Composite Stock Price Index, made up of the largest 200 publicly-traded firms listed on the Korean Exchange stock exchange.

Kriging - A method of block grade interpolation which takes into account characteristics of ore mineralization.

Kondratieff Wave - A long cycle wave that present the four major business cycle epochs.

LLL

Laffer Curve - Developed by Art Laffer to present supply-side economics; that curve which represents the relationship between government revenue from taxation versus all possible rates of taxation.

Large Cap Fund - A Fund that hold firms with high capitalization rates.

Laser Ablation - High energy beam drill technique. Used for minimally invasive incisions, especially on artworks to gather sample for further analytical analysis.

Last in, first out - Trading; tracking trade position status when more than one position extant. The last position bought is the first position sold.

Last Trading Day - The final day for settlement of a futures trade, given as a fixed day of the month. [futures]

LE – Lettered edge; the third side of a coin that has lettering in either a smooth or banded side.

Listed Transaction - Where you file an improper trade, deposit or other illegal movement of money. 418a and 412i plans (under certain conditions).

Long-Term Equity Anticipation Securities (LEAP) - Option contract.

Legal Tender - The payment for debt per legislation; fulfills the obligation of payment between the bearer and the borrower.

Legend - The motto on the reverse of a coin, currency or exonumia.

Lepton - Small Greek coin, both ancient and modern, typically brass or bronze.

Leverage - Debt to asset ratio.

Leveraged buyout - Using borrowed funds secured by the assets of a corporation, to take over the corporation.

LHD - Load, Haul and Dump. A process and a piece of equipment used in underground mining.

Liability - Something owed or borrowed, plus the opportunity costs associated with the loan.

Limited Liability Corporation - An organized business structure that provides certain protections and business advantage.

Limited Liability Partnership - An organized business structure that provides certain protections and business advantages; namely protecting each partner for liabilities only up to the amount of principal capital invested.

Limited Partner - A minor interest holder in a concern without voting rights. Limited partners may hold first rights of refusal when a general partner steps down or wishes to distribute her ownership portion.

Life Settlement Company – A firm that will buy an existing life insurance policy from a policy holder, typically as a lump sum.

Lifetime Savings Account - Passed in the USA in 2003, these accounts allow higher wage earners to start and fund a savings account that grows tax free for the entire life of the account.

Limited-liability Corporation - A holding vessel formed within a state that provides certain asset protection. Often used to shelter rental property.

Lint mark - A small mark caused on a coin following polishing which left a thread on the die surface.

Liquidity - The quality of easily conversion into other stores of value or currency. The depth of a commodity or financial vehicle. For example, a stock that trades only 1,000 for day is not nearly as liquid as a stock that trades 1,000,000 per day. A low liquidity often causes wider spreads between buy and ask prices.

Liquidity Replenishment Point - Volatility controls built into a market platform (internet stock trading) designed to guarantee supply of an issue (stock) throughout the platform.

LME(X) - London Metal Exchange

LMAO - Laughing my ass off [slang, WWW]

Loan to Value - A ratio determined by the amount owned against a security divided by the value of that security.

LOL - Lots of laughs, laughing out loud, lots of luck [slang, WWW]

Long term - A philosophical distinction with this tangible measure - how a decision affects tonight's sleep pattern.

Long Term Capital Management - The name of a defunct Hedge Fund and an exercise in Hubris.

Long-Term Equity Anticipation Securities – A long term option where the strike price expires in a year or longer; compared to the typical few months for more standard options.

Long-Term Incentive Plan - A form of non-cash payment awards, as in stock or options, distributed to employees.

Loan to book - A type of valuation formula.

Loan-to-value - The ratio of mortgage or deed debt relative to the property price as appraised. [RE]

London Inter Bank Offered Rate - The funds rate that banks charge other banks to loan money.

London Inter Bank Bid Rate - European bid for euro-currecy.

Long Run Incremental Cost - Rising cost inputs that can be anticipated in company fiscal forecasts.

London Stock Exchange - United Kingdom bourse

Long Term Equity Anticipation Security - An option with a very long time horizon, six months or more.

MMM

M0                   Amount of coins and paper currency in circulation [money supply]
M1                   M0 + checking account balances [money supply]
M2                   M1 + short term accounts (savings, money market, mutual funds) owned by public [money supply]
M3                   M2 + CDs and other long term cash investments + S&L + CU+ euro deposits + repurchase agreements (note, the US Govt. made the decision in 2005 to discontinue this metric in order to mask the true rate of dollar production)

Mafic - igneous rocks with high iron content

Mail in rebate - [e-commerce]

Major Market Index - An equity index that includes 20 blue chip stocks with large capitalization

Major Currency Dollar Index - weighted average of the foreign exchange value of the U.S. Dollar versus other major currencies. [Fed. Res.]

Management Buyout - The exercise in taking a public company private when management buys out all outstanding stock.

Management Discussion and Analysis - The portion of Annual and Quarterly reports issues by corporations which discuss the company's financial condition operational results, risk factors and other information pertinent to the company's finances and fortunes , both current and future.

Margin - Leverage; trading on borrowed money.

Marginal Propensity to Consume - The Keynesian ratio that states the portion of a wage raise that goes to discretional spending instead of savings.

Margin of Safety - The arbitrage for the book (intrinsic) value of a company and what it currently trades.

Margin Requirements - The minimum standards an entity must maintain to trade on credit.

Marginal Tax Bracket - Divisions of tax rates, where not all adjusted gross income is taxed at the same rate; a progressive tax structure.

Market - A bourse; a venue for selling goods or services

Market Identification Code - The unique identifier for securities that trade on several bourses and in various currencies.

Market if Touched - A predetermined buy or sell point (i.e. stoploss). One trading method is to establish a MIT on either side of pivot points.

Market Maker - The specialist who sells and buy s a security and otherwise provides liquidity.

Market Technicians Association - Trade association for technical analysts.

Market Value - 1) The price a coin will bring in the open retail market; the price the crowd may bear. 2) The price of a security or account at the last business day close of a given reporting period.

Market Versus Quote - The difference between the last quoted price where a security traded versus the listed bid/ask quotes. The difference results from market illiquidity or short term supply/demand issues such as a hold on trading pending an announcement.

Mark to Market - Valuing a company by current market value instead of book value.

Massive ore - Economically valuable metal ins a distinct vein; very high yield ore.

Masters of Business Administration - An advanced graduate degree offered by higher education purveyors to those who trade time and money for theoretical training in the field of business, economics and finance.

Matte - Sulfide mixture produced by smelting high sulfide ores.

Maximum Daily Price Fluctuation - The limits on where a price may settle during a trading day [futures] -

Maximum Loan Amount - The most that a prospective loan applicant can qualify for.

Maximum (percentage) Draw Down - The most amount of money, made on interest, you can sustainable withdraw from an account each year without touching the principal. Or, the maximum you can withdraw from principal without outliving your money. [Fin.]

Medical Savings Account - Provision in the IRS code where deposits can be made in a tax deferred account as long as monies are only used for medical expenses.

McClellan Summation Index (McOsi) - a very broad, somewhat outdated, measure of internal market (NYSE) health that compares the number of daily advancing to declining issues.

MDG - Meridian Gold [tic]

MDY - spyder; SPDR S&P 400 midcap index

ME – Millennium Edition. A limited production run of coins and other collectors items to commemorate the year 2000.

Medal - A token like object not used for legal tender exchange or purchase of goods or services as with a token, but instead used to confer some non-monetary rights or privilege. Typically has either a design or motto.

Medallion Signature Program - [NYSE certification program].

Medical-Certified Annuity - The latest product pushed by the large insurance houses whereby they encourage fraud against the state by recommending that you sell current assets, and hide or shield what is remaining in an annuity. Purportedly the reason to purchase one of these assets is to prevent losing all of your lifetime accumulations to the increasing costs of medical care in ones golden year. In actuality the state currently does not go after assets, only the income stream produced by these assets.

Mello Roos District - A special district with special taxing authority and revenue authorities (e.g. can issue bonds) used for developments which will benefit that special district. These districts include Resource Conservation Districts, prisons, schools, water districts, etc.). The tax is accounted through the city or municipal bill.

MER - Merrill Lynch (NA ticker:NYSE)

Metamorphism - the geologic process whereby rocks change in texture or structure by external forces such as pressure and heat or input of new minerals, typically via water.

Metasediment - metamorphosed sedimentary rock

Mexican Antitrust Law - Under this act, merger and acquisition of voting shares of a going concern require approval by the Federal Anti-Trust Commission.

Mezzanine Loan - Unsecured financing used as start up capital typically to take a public company private. Venture capital outfits such as Allied or American Capital receive offerings of warrant to guaranty conversion rights to sweeten the pot.

MFN - Ticker Symbol for Minefinders (AMEX)

$MID - S & P midcap 400 index

Midpoint Method - The process for determining a trend line by dividing price highs (or lows) into arithmetic averages.

Milling/mill - The comminution of the ore, although the term has come to cover the broad range of machinery inside the treatment plant where gold is separated from the ore.

Milled Edge - The surface of the coin band that is either reeded or contains lettering.

Million tons per annum - A unit measure of mining production.

Mine call factor - The ratio of the grade of material received at the mill to the grade of ore calculated by sampling in stopes.

Mine Plan of Operations - The methods and processes a mine will follow to extract minerals from ore.

Mineral - An element or compound formed through geologic processes

Mineral resources -

Measured mineral resources - A calculation for tonnage or volume from dimensions revealed in outcrops, pits, trenches, drill holes, or mine workings, and supported by other appropriate exploration techniques. The sites used for inspection sampling and measuring must be so spaced that the geological character, continuity, grades, and nature of the material are so well defined that the physical character, size, shape, quality and mineral content can be established with a high degree of certainty.

Indicated mineral resources - That portion of a mineral resource for which quantity and quality can only be estimated with a lower degree of certainty than for a measured mineral resource. The sites used for inspection, sampling and measurement are too widely or inappropriately spaced to enable the mineral or its continuity to be defined or its grade throughout to be established.

Mineralized zone - Any mass of rock in which minerals, at least one of which has commercial value, occur.

Mining - profitable extraction of minerals from ore

Ministry of Commerce - Interior Chinese agency. (Chinese, govt.),

Ministry of Land and Resources - Interior Chinese agency (Chinese, govt.)

Mint - A private or governmental concern that manufactures coins, medallions, or tokens. Also used to refer to 'mint state'.

Mintmark - The letter or other symbol provided on either the obverse or reverse used to denote the mint which produced the coin.

Mint Set - A group or set of coins which are produced by a mint consisting of each denomination made during the particular production run year.

Mint State - The term that describes an object that shows no wear or damage from circulation. That is, the coin is in the same state as the day it left the mint. AKA Gem Uncirculated.

Mintage - The quantity of each coin produced by the mint during the production year.

Multi-Level Marketing - A type of business model based on establishing tiered marketing and revenue levels.

Modern Portfolio Theory - Holds that a diversified asset base provides the highest portfolio return.

Modified Accelerated Cost Recovery System - An accelerated depreciation schedule introduced in the 1986 tax overhaul.

Modified Endowment Contract – A type of life insurance where when you pull any gain in position as cash before death, it will be taxed at normal rates.

Modified Internal Rate of Return - The Internal Rate of Return changed to reflect the cost that a firm must incur to acquire capital, rather than assume the the cost of capital is free.

Monetary Conditions Index - A measure of Canadian fiscal policy regarding monetary tightness.

Monetary Policy Committee - The Bank of England committee responsible (sic) for establishing money supply rates.

Money - Anything you will trade your labor or something of value to you for; and then be accepted by someone else for the same. Money must also serve as a store of value and trade in units (be divisible).

Money Flow Index - A technical analysis tool that measures the relative strength, both volume and price, of a security. MFI signals may signal trend reversal. [TA]

Money Market Deposit Account - A security backed by the FDIC, typically held within a bank or brokerage institution, that pays a higher interest rate on larger deposits than is paid on Certificates of Deposit.

Money Velocity - the rate at which a currency cycles through the economy, a measure of fiscal health.

Money Zero Maturity - A measure of all liquid funds across M1, M2 and (the former) M3 available for deployment as spending or investing.

Monroney Label - The sticker on cars with the Manufacturers Suggested Retail Price.

Monte Carlo Model Simulation - A prediction based upon probability analysis that estimates how a certain investment portfolio will perform over a given period of time.

Morgan Stanley - One of the major US Oligarchs (Ticker NYSE:MWD)

Mortgage Backed Security - A bundled security sold as a retail investment that is backed up by residential or commercial mortgages.

Mortgage Bankers Association - [RE] Fraternal organization for collusion in the mortmain business

Mortgage Electronic Registration Systems - A corporation that serves as the mortgagee of record on nominee-form loans (form of agency), acting in capacity for the lender.

Mortgage Pass Through Securities - A type of collateralized securities where the backing pool of property functions as a trust to pool allocations.

Mother of All Bulls - The big Super Cycle bull run

Motto - AKA legend. A phrase appearing on the reverse of a coin e.g. "In God We Trust".

Moving Average - A technical analysis indicator comprised of the average value of a stocks price over a through a given period, typically 13, 21, 50. 100 and 200 days. Moving averages, momentum indicators, are tracked as either simple or exponential series.

Moving Average Directional Indicator - An indicator that forms an oscillator tied to the 13 and 50-day simple moving (mathematical) averages in relation to stock price.

Mine Safety and Health Administration - The US Government agency responsible for mining safety regulations.

Mud Rotary - A drilling method using a sleeve in heaving sands to prevent slippage. [mining, drilling]

Mule – An error produced either by using dissimilar dies (two heads) or a coin struck in either the wrong planchet or metal.

Multi-Level Marketing - A type of business that relies upon new recruits to pay the more established partners.

MYOB - Mind your own business. Ben Franklins admonishment to good capitalists everywhere meant as an enjoinder to spur on increased production and efficiency in daily life. In less capable hands, serves as a mild rebuke.

Mylar - A type of non-reactive plastic that won't contaminate metals, used for coin storage.

NNN

National Association for Business Economics (NABE) - Organization that puts on some good business conferences.

National Association of Investors Corporation - A very interesting organization. I have one of their early books. They grew very quickly at first (1960s) and had thousands of chapters at one point. But then they tried to MONETIZE their base (small groups of investors) but they couldn't build that model. Their membership plummeted and they've been losing numbers for ten years straight.

National Association of Securities Dealers - [fin.] The organization that oversaw the NASDAQ.

National Association of Securities Dealers Automated Quotes (system) [bourse] - The NASDAQ, one of the world's largest casinos.

National Credit Union Administration - The federal bureaucracy that interferes with member-owned credit unions in order to provide additional advantage to corporate banking cartels.

National Credit Union Share Insurance Fund - The federal fund that backstops credit union failure.

National Association of Personal Financial Advisors - Professional organization for the benefit of those that provide financial advice for a living.

National Association for the Self Employed - Trade organization for those who work for themselves or own their own business.

National Association of Real Estate Investment Trusts - Trade group for REITs.

National Environmental Policy Act - Law passed by US Congress in 1970 that requires federal agencies undertake a review of all major projects that could have a significant impact on the environment. Applies to mining activities. (Compliance)

NAPM - National Association of Purchasing Management

National Best Bid and Offer - The SEC requirement that a brokerage offer the best ask and bid prices possible to the public for securities.

National Instrument 43-101 - The Canadian disclosure form for mining companies.

National Market System - A platform that eases OTC trading on the NASD and NASDAQ.

National Registration Bureau - Interior Chinese agency [Chinese, govt.]

National Registration Database - Canadian system that allows electronic posting of security broker information. [Chinese, govt.]

National Securities Clearing Corporation - A DTCC section that clears and settles OTC security trades.

National Securities Markets Improvement Act - A 1996 Act by US Congress intended to usurp state rights regarding commerce and trade.

Natural gas liquids - Liquefied petroleum gas, typically in the C2-C6 range.

NDX - Nasdaq 100 ticker symbol

Negotiable Order of Withdrawal (account) - Aka NOW Account. An account offered by bank or S&L that pays interest and allows checks to be written against it.

Net Asset Value - 1) Corporate valuations: Book value minus liabilities. 2) Mutual Funds: Total fund valuation minus liabilities.

Net Grading - This term refers to TPG grades that consider damage and/or cleaning when determining a grade. The major TPGs usually will not grade the coin and instead return in a 'Body Bag' - where the coin is refused a grade for an altered surface. However, the large grading firm ANACS PCGS will "net-grade" most coins by, for example, giving an MS 63 coins a 'net grade' of MS60 and note the reason for the net grade.

Net Income - Taxable Income minus taxes. Aka 'The bottom line'.

Net Interest Margin Securities - A type of security account that distributes cash across accounts holding collateralized mortgage obligations or commodity pools.

Net operating income - A firm's operating income before deduction of taxes and interest earned and after deduction of all operating expenses.

Net profit interest - A non-operating interest (as distinguished from a working interest). A contractual arrangement under which the beneficiary, in exchange for consideration paid, receives a stated percentage of the net profits. That type of arrangement is considered a, because it does not involve the rights and obligations of operating a mineral property (costs of exploration, development, and operation). The net profits interest does not bear any part of net losses.

Net Present Value - An estimation of the value of a dollar or tangible today versus the value at a given point in time given expected inflation and return rates. [as curve, mining resource estimation]

Net Smelter Return - [mining: US FS reserve estimate methodology]

Net Tangible Assets - Calculated as Assets minus liabilities and intangible assets (goodwill and patents). AKA net asset value.

Net Unrealized Appreciation – Company employer stock in a pension plan that can be removed at the cost basis of the plan (what the plan paid for the stock, not the current market value). This allows distribution up to the cap for qualified employees (age, etc.)

Neutralization Potential - The predicted ability of a substance to alter pH. Typically used to formulate predictions on how much acid drainage will be produced by mining; as measured by Sobek or carbonate mehtods. [acid/base chemistry, mining reclamation]

Ni - Nickel metal. In numismatic terminology may refer to cupro-nickel.

NIA - Not investment advice [internet slang]

NIMBY - Not in my backyard; the postulate that everybody wants a new energy plant built, but just not in their backyard. [slang]

NIMEY - Not in my election year; the postulate that everybody wants a new energy plant built, but just not at that time when it could cause inconvenience for the local politicians election campaign. [slang]

No Income/No Asset Verification - AKA 'no doc' loans. The final blow-off stage of derivative banking where anybody who can produce a signature qualifies for debt. [RE; mortgage type]

Non-circulating legal tender coin - a coin such as the one-ounce US Gold American Eagle with a legal tender (face) value of $50 but an intrinsic value several fold.

Non-refractory - Ore containing gold that can be satisfactorily recovered by standard mining techniques such as basic gravity concentration or simple cyanidation.

Non-Correlated Alpha - The ration that determines the predicted return of a security given the underlying level of risk compared to a similarly constructed benchmark index.

Non - Deliverable Swap - A currency arbitrage or hedge where forward sells are settled in currency.

Non-Performing Loan - A loan that has been in default for specific period of time, typically 3 months but the subject to the specific terms of the individual contract.

Non-recourse note - A debt obligation that holds only the collateralized property at risk, though standard liability as a property owner remains.

Non-Qualified Stock Option -

Non-Statutory Stock Option - Tax effects on granting of these options holds no tax liability or exposure to the issuer. The optionee typically recognizes ordinary income gains upon option.

Non Sufficient Funds - A notice that the cash holdings in ones account are not sufficient for margin requirements and therefore trigger unauthorized sells to bring up the cash balance.

Normal-Course Issuer Bid - The case where a publicly-traded company will buy back its own shares for the sole purpose of cancelling those shares in order to increase intrinsic value by reducing the outstanding float.

Note - An investment with a 1-10 year event horizon. Longer term issues are called bonds.

Note Over Bond - The spread between short term debt notes (1-10) years and long term bonds (20+) years that form off-putting positions in a futures contract. The futures contract holder is trying to arbitrage the yield curve.

Notice of Default - Letter from lender stating loan is overdue.

Notgeld - The term for Weimar Germany hyper-inflated notes

Novodel – Coin struck with a backdated die.

Northern Territory [Aus.]

Nuclear Decommissioning Cost Triennial Proceeding - The group that determines costs and direction for taking aging power nuclear power plants offline.

Numismatics - The collecting, research, and study of coins and currency such as medals, paper money, tokens and similar.

$NYA - NYSE Composite Index [Index]

NYBOT - New York Board of Trade

NYMEX - New York Mercantile Exchange. A commodity bourse in New York City.

New York Stock Exchange - The physical location and electronic clearing house where securities are bought and sold. [bourse]

NZD - New Zealand Dollar [currency symbol]

OOO

OEX - S & P 100 index

Office of Comptroller of Currency - Regulates US Banking Standards [US fin.]

Office of Federal Housing Enterprise Oversight - The office of Fannie Mae that determines size and type of conforming loans using a mean average home prices across the nation. The federal agency that either, through incompetence or corruption or probably both, oversaw Freddie Mac and Fannie Mae book-cooking that will, in due time, screw countless millions who participated in the housing bubble of 2002-2006.

Office of Ratepayer Advocates - An arm of the Public Utility Commission that provides guidance regarding public power rates and structure.

Office of Thrift Supervision - A U.S. Treasury Bureau reportedly safeguarding the US savings and loan industry.

Off topic - Posting on a topic not covered by the bulletin board at hand. [slang, WWW]

Old Age, Survivors and Disability Insurance Program - The official name for Social Security (sic)

Oliver Filter - A large cylindrical drum that serves as a type by using mesh cloth stretched over the cylinder surface to filter pulp in a settling tank. [Mining]

Omnibus Account - A wholesale path whereby large brokerage houses sell mutual funds without causing a transaction cost.

On Balance Volume - An indication used to determine momentum in a security by showing the money, expressed as volume, f lowing into and out of the stock.

Ontario Securities Commission - Defines applicable security regulations in the Canadian Province.

Open-End Mutual Fund - A mutual fund where new investors can purchase into the fund because the fund has the ability to create new shares to sell.

Optimized Portfolio as Listed Securities - A securities portfolio designed to track an equity index performance without the corresponding risk coefficient. Used by large outfits that have the capital to overcome the various limitations.

Open High Low and Close - A type of technical chart that shows various daily price positions.

Open Interest - On the futures market, contracts that have sold (i.e. changed hands) that are still open [fut.]

Open Market Operations - The intervention in equity or bond markets by the federal government in order to express fiscal policy. Typically, the fed will conduct the purchase and sale of securities to manage the desired liquidity in the markets. This intervention in foreign markets and manipulation of supposedly free trade and trading markets is a primary criticism of central banks.

Open Order - A buy or sell request for a given security that has not yet executed.

Open pit/open cut - Surface mining in which the ore is extracted from a pit.

Operating cash flow - The OCF provides a better measure of a firm's profitability over practically any other metric such as earnings, etc. This is because a firm may report positive earnings on an income statement (OCF is reported on the statement of cash flows) but still go broke since they cannot service their debt load. OCF is the cash generated by company operations less operating expenses as reported via net income. The pressure to 'beat the numbers' sometimes pressures less than honorable corporations to report record earnings, yet bury the fact that they have a negative cash flow. All about cash flow, peoples.

Operating Profit - Gross profit less cost of sales, administration and general expenses.

Options - A derivative position that grants the right but not the obligation to buy or sell an underlying security at a future date under covenants agreed to in a pre-determined contract.

European Option Valuation

American Option Valuation

Black-Sholes Option Valuation (and the variants such as Barone-Adesi, Binomial, and the Roll-Geske-Whaley methods).

Options Clearing Corporation

Option expiration - That date when an older must either option the position or let it expire.

Option Adjusted Spread - A measurement of yield spread between various securities not expressly related to characteristics of the security. Typically used for analysis of fixed income asset holdings; a way to determine performance of the underlying security outstanding of the sweeteners/kickers associated with the security.

Organization of Petroleum Exporting Countries - An international trade group, established in 1960, composed of most the world's oil-exporting nations. The OPEC goals, generally, support common oil policy and pricing mechanisms to protect the commodity flow and value.

Order - Level, as in sequencing of operations.

Ore - Material that contains one or more minerals, at least one of which has commercial value and which can be recovered at a profit.

Orebody - A continuous well defined mass of material of sufficient ore content to make extraction economically feasible.

Ore Grade - The average weight of the recoverable mineral expressed as a specific weight.

Organization for Economic Cooperation and Development - Economic trade discussion forum. [Int. fin.]

Original Bank Roll - Roll of coins in the same bank wrapper first used by the distributing bank.

Original Issue Discount - On a bond, refers to the discount from par value at issue. i.e. the difference between issue price and stated redemption price.

Other Important Trading Partners - Those countries whose currencies are considered as a basket when determining the performance of the US Dollar [Fed. Res.]

Other income - On a balance sheet, revenue gained through streams other than sales.

Other people’s money - The theorem that leverage using borrowed money will increase money velocity to a positive end. [slang]

Ounce - A liquid and dry weight. Equal to 1/16 avoirdupois pound or 1/12 troy pound. See Weights and Measures.

Overstamp - The strike onto a coin, often letters, added after the original production of the coin.

Over-the-counter - Penny stocks traded on a minor bourse [trading]

Over-the-Counter Bulletin Board - A trading platform for penny [those under $5] stocks. [bourse]

Oxide - The portion of a mineral deposit within which sulphide materials have been oxidized, usually by surface weathering processes.

Oz - Australia [slang]

PPP

P-27 - A Canadian regulation known as Policy Statement Q-27 "Protection of Minority Security holders in the Course of Certain Transactions" of the AMF.

Pacific Stock Exchange - An options trading network operating in San Francisco between 1882 and 2005.

Pan American Silver - North American silver miner. [Ticker: PAAS]

Paper - 1)Noun. A derogatory term for currency. 2) Paper currency 3) Verb. To cover over structural budget deficits with a ramp up in money supply.

Paper Assets - Stocks, bonds, mutual funds, insurance., etc. Anything in the non-tangible class that creates portfolio income.

Par - Even, face value.

pari passu – the condition where two obligations each have equal rights.

Pareto's Law - Eighty percent of the output is created by twenty percent of the input.

Par Mortgage - No point, no origination fee mortgage.

Par Value - The face value of a debt obligation (e.g. bond).

Partition Order - Where two people own a property as tenants in common, not a partnership, and one isn't doing their share - hence, the other wants to split the property. In this case one owner goes to court and asks that the property be given to a point of receiver who then sells the property, takes their commission and fees, and splits the remainder.

Partner - One who co-owns a corporation or asset. Principal of a law firm.

Passive Foreign Investment Company - A definition within US tax regulation that considers certain tax considerations for a corporation both incorporated outside the US and receives a majority or income from passive investment. A consideration for US investors; since IRS further bollixes up tax decisions and calculations on trades and holdings for those foreign companies with 75% passive income or over 50% of assets as interest, dividends, and capital gains. [US IRS]

Pattern – Sample coin design not intended for business strike.

Payment in Kind - Any non-cash transaction for goods or services rendered.

Pb -Lead

Pd - Periodic table of elements symbol for Palladium

PDG - Placer Dome Gold (sold to Barrick in 2005) [US ticker]

Peak Period Method - The process for determining a trend line by using the two most recent peak prices as the resistance line.

Pedigree – A coin’s lineage and numismatic history.

Pension - A type of defined benefit plan where an employee retires and the employer pays a percentage of their previous income on a monthly basis for the rest of their life, typically.

Pension Spiking - A process where an individual employed in the public sector artificially raises their pay, or total compensation, just before retirement - such as a three year period. By cashing in vacation time or working overtime or gaining hazard pay or shift differential the employee effectively builds a higher effective salary upon which the pension if figured.

Pension Benefit Guarantee Corporation - A government corporation that manages and administers the Pension Guarantee Trust, under Department of Labor oversight.

Pension Guarantee Trust - The taxpayer fund that picks up the tab for companies that go bankrupt due to compounded poor decision making and and no longer feel like making good on past promises.

Percentage Price Oscillator - In technical analysis, the indicator that uses smoothes various exponential moving averages in order to compare against other stock performances. [Technical analysis]

Percentage Volume Oscillator - An indicator expressed as the difference between the fast and slow exponential moving averages. [TA]

Permitted Bid - A take over bid for all outstanding shares of a firm.

Personal Consumption Expenditures - A Department of Commerce metric which monitors goods and services consumed by US households.

Personal Financial Specialist - A certified public accountant licensed to provide financial planning.

Philadelphia Semiconductor Index - A closely followed index composed of US firms that manufacture, distribute and sell semiconductors.

Pick up Point - The design features on a coin that have the highest relief, serve as the location that wears first and hence, along with the coin fields, form the most important areas when assigning the coin a technical grade.

Pip - A small percentage (less than one percent, typically a tenth point) in a currency; sometimes interchanged with basis points.

PITI - Principal, interest, taxes, and insurance. The combination of real estate outlays forming the basis of cashflow analysis. [RE]

Pivot Point - For any equity, the cost target and the corresponding spot on a technical analysis chart that provides the best buy or sell location from a risk/reward basis.

Plain edge - A planchet or coin with a smooth third side versus a ridged side.

Planchet – Metal slug struck by a die to produce a coin.

Planchet striations - Hairline scratches appearing on a coin’s surface caused by heavy planchet polish. Alternately, when a planchet is polished the hairline flows seem to appear ‘above’ the surface of the coin.

Planned Unit Development - A pre-designed build out of a particular zoning area. [RE]

Plant turnover - The ratio formed by dividing sales (as reported on the income statement) divided by property, plant and equipment.

Plunge protection team - Working group on foreign markets [black bag]

PM - Private message [slang, WWW]

Point and Figure - A type of charting tool that produces price objectives irrespective of time period. [TA]

Point of Purchase/Sale - The geographic nexus where sales are conducted (internet site, store, vendor space).

Poison Pills - Anti-takeover techniques such as:

1) Increase executive salaries to excessive levels.

2) Increase shares outstanding

Portfolio Evaluation Review Technique - A model for determining portfolio balance.

Positive Value Index - An indicator that tracks significant change in day to day volumes.

Pr – proof strike. Designed for collectors, not for circulation. A proof coin is produced by techniques different than those for normally circulating, or business strikes, and utilize dies and planchets specifically prepared to withstand higher pressure or multiple striking. These techniques result in a coin exhibiting a sharpness of detail and devices against almost flawless watery or mirror-like fields that command a premium from the numismatic community.

Precious Metals - Au, Pt, Pd and sometimes Ag, Rh.

Preferred Equity Redemption Stock - A preferred stock that trades with a higher yield than common stocks, are callable, and must be redeemed for cash or common shares at maturity.

Preferred stock ratio - The ratio found when dividing the sum of preferred stock divided by total value of common and preferred stock, reserves, capital surplus, retained earnings, and bond value.

Pre Foreclosure - The aim or act of purchasing the equity position in a property where the owners can no longer afford the mortgage or have other significant cash flow or similar financial problems that creates the need to sell below full market price.

Premium - The difference between the intrinsic and market value. For example, a silver coin with $5 worth of silver by weight which trades for $20 on the open market has a %400 premium built in.

Premium Bond - One with a value higher than the face amount.

Present Value - The theorem and calculation that a given amount of money paid today for the same transaction is less than the amount paid at a later date due to risk and opportunity costs. [Financial]

Previous Corresponding Period - A previously established data set from a series of points in time passed. [FA]

Pre-stripping - Removal of overburden in advance of beginning operations to remove ore in an open pit operation.

Price Bar - A diagram representing the action of a stock during the day where the bottom of the price bar marks the day's low and the top indicates the high.

Price Correlation - The analysis of two sets of data, regarding costs, as compared to each other.

Price Correlation Coefficients - That percentage which shows the relation between two cost points or sets of cost data.

Price Discovery - The method for determining price of an issue using only supply and demand inputs.

Price Interest Point - The smallest measurable variation in a currency trade.

Price Momentum Oscillator - A function that analyzes price movement over some fixed past period of time. [TA]

Price Objective - Target price for a buy or sell.

Price per Earnings - A metric of a company's strength determined as the share price divided by earnings per share. Investors consider the PE ratio as a "multiple". That is, it established how much investors will pay for each dollar a company earns.

Price per Earnings per Growth - When calculating a firm's value compared to both its previous value and its competitors, one must consider earnings growth compared to the current earnings and share price. This ratio, developed as the PE Ratio divided by the annual growth in Earnings Per Share, provides a basis to determine fair value for the stock price. Keep in mind that the numbers used are projected and, therefore, can be less accurate. Also, there are many variations because data providers use feeds from different sources.

Price per Sales - The ratio calculated by dividing a stock's price by revenue per share. This metric evaluates the market strength of a stock compared to its own past results and competitors within the sector.

Prince Edward Island - A Canadian province.

Principal - The amount owed of a debt i.e. the face value. Primary owner of a corporation or endeavor.

Principal Trade - Where a brokerage house buys securities on the secondary market with the express strategy to hold long enough for a price appreciation. At that point the broker sells retails to the end use and gains appreciation plus commission. Brokers are required to notify when they provide a principal trade, though will typically obfuscate the fact through the fine print. The broker always seeks to sell their inventory to prospective buyers rather than buying new into the market. Common in bond sales.

Private Activity Bond - Private enterprise that cannot make a deal work on its own merit will occasionally find support from a municipality, in the form of underwriting a bond, when the municipality believes an increase in tax roll will offset the debenture. These tax exempt bonds find financing via private money interests. For example, see Industrial Development Revenue Bond

Private Investment in Public Equity - When an entity seeks to support a startup with venture money, it can purchase that firms stock at less than market price. Traditional PIPEs do not use convertible debt whereas structured one do. Smaller firms may prefer PIPE offering over more traditional equity raising methods because the pipeline is shorter since there are fewer regulatory issues.

Private Foundation - A charity where less than 50% of donations originate from general public.

Private Mortgage Insurance - Prime Mortgage Insurance protects the lender when the down payment or equity is less than 20%. In these cases PMI is required on 1^st mortgages for 60 months. At that point, or when equity is built to 20% as documented by appraisal, then the PMI can be dropped. Of course, this action takes an undue period in order to claim more money from the debtor. Refinance on increases in equity will not change PMI requirements unless refi is with different lender.

Private Placement Memorandum - Notice form a brokerage to a private investor noting if the investor successfully garnered a share of a company share offering not made to the public at large.

Private Securities Litigation Reform Act of 1995 - Securities; defines the term 'forward looking statements' commonly used in a financial prospectus or

statement.

Producers Price Index - An index calculated by the US Bureau of Labor Statistics to calculate the change in realized sales prices of commercial goods and services.

Profit Before Tax - Net receipts after all expenses except corporate income tax.

Profit and Loss Statement - A financial statement that presents expenses and income through a given repotting period. Aka 'income and expense' or 'income statement'.

ProForma - Future financial projections of an investment or business returns using less robust valuation measures than required by audited financial statements.

Property, Plant and Equipment - These assets are tracked separately on corporate financial statements because they are expensed differently than other types of assets. PPE require differing depreciation schedules and treatment for improvements and replacements.

Prospect - A mineral deposit with insufficient data available on mineralization to determine if it is economically recoverable, but warranting further investigation.

Prospecting license - An area for which permission to explore has been granted.

Protore - Ore made economically beneficial via secondary enrichment. As commonly employed today, the rock below the sulfide zone of supergene enrichment; the primary material that cannot be produced at a profit under existing conditions but that may become profitable with technological advances or price increases.

Provenance - A paper trail that establishes the authenticity, background, and previous ownership chain of a collectible. This adds to the value.

Proven and Probable - A quantified unit of reserves, typically in mining and gas extraction industries, that exist at a natural resource. Often legally qualified. [mining reserves]

Platinum - A precious metal. [elemental]

Powers That Be - The ones in control; especially of finance. [black bag]

Principal Trade - A position entered by a broker-dealer for their express benefit.

Public Limited Company - In the United Kingdom any limited public company. Only LLCs trade via the FTSE.

Public utility commission - Regulates pricing structure for power companies.

Purchase Agreement - A contract to buy.

Purchasing Management Index - Based on five macroeconomic indicators, this metric purports to reflect the underlying economic health of the manufacturing sector. The PMI index is based on five major indicators: new orders, inventory levels, production, supplier deliveries, and the employment environment. Aka purchasing management indicator - [financial]

Purchase power parity - The economic theory that, over the long term, the exchange rate of any currencies will adjust to reflect those currencies' purchasing power. This canard no longer rings true, as rampant currency speculation and especially central bank meddling keep trading ratios at artificial levels, in order to forward short term financial policy for economic and political exploitation. The definition as used colloquially is the goal of your elected representatives to lower your purchasing power to that represented by all the other nations of the world. That is, lower your standard of living to raise theirs - reaching an unhappy medium one small step above abject poverty.

Put Option - Expecting the price of stock shares to go down, the right but not the obligation to sell a stock at a previously agreed-upon price. If you own the underlying stock against which the put is written, then it is an obligation to buy the stock at the previously agreed-upon price.

Poly Vinyl Chloride - A plastic used to provide protection to coins from environmental conditions.

Public Income Notes - Short term (less than ten year) unsecured, interest-bearing debentures that are underwritten by a publicly traded company.

QQQ

QQQs - Nasdaq 100 futures [ticker symbol]

Qa/Qc Quality Assurance/Quality Control - The due diligence performed on sampling, analysis, and data development. Performed by an independent third party not associated with the data development

Qualified Domestic Relations Order - Qualified Domestic Relations Order allows spouse to get money form ex-spouses retirement plan (401K) without penalties imposed by IRS. However, the subject plan may charge penalties or except fees. Of course, should these funds be rolled into other IRA than applicable fees and penalties come due. [IRS 72 Regulations]

Qualified Retirement Plan - Those retirement vehicles which meet IRS codes in section 401.

Qualified Special Representative Agreement - A compact for broker-dealers to clear trades outside the NASDAQ system via National Securities

Clearing Corporation.

Quality Control - That process which analyzes production against a standard specification.

Quit Claim - The document whereby one signs away ownership rights to a property.

Quarter over Quarter - Comparison of financial data between reporting periods provide informative insight into trends and movements of a stock and the fundamental underpinnings of the business.

Quicken Interchange Format - File types used by various financial software programs. {text file format} -

Quartz - A mineral compound of silicon and oxygen (SiO₂); may transparent to white-coloured.

Quarterly Income Preferred Securities - These securities represent a pro-rata interest in a limited partnership which issues further securities and then lends proceeds out, typically to the parent company. Most, but not all, are publicly listed and provide dividends or distributions.

RRR

Rake - The general trend of an ore body along the direction of its strike. [Mining]

Ramp - A secondary opening which is driven at an incline to connect levels and allow for haulage. [Mining]

Rate sheets - Spreadsheets of interest, rates, and points (price) that a lender will loan at upon time that sheet is distributed. [Real Estate]

RAR - A Roshal Archive file retrieval and zip system named after the person who developed the technology.

Rare Earth Metals - Minerals scarce at the surface.

Rattler - Coin that is loose within a slab to the point where it can rotate within the holder.

Raw – A coin that is not received grading and encapsulation by a third party grading service.

RB - Red-brown. A grading criterion for copper coins.

Rd – Red. A grading criterion for copper coins. Typically a Red coin will be valued at a premium to Red-brown or Brown coins.

Real Estate - Land, property and improvement, either actual (i.e. piece of dirt) or intellectual (web address).

Real Estate Settlement Procedures Act (1974) - Governs referral fees, closing procedures and other items associated with closing on real estate transactions.

Real Estate Investment Trust - Owns and derives income from either properties (equity REIT) or mortgages.

Real Estate Mortgage Investment Conduits - An investment vehicle comprised of fixed pool of mortgages sold as individual securities. These securities are backed by mortgages with various maturities and interest.

Real estate-owned - A lender-owned house purchased via foreclosure.

Real Property - Land and buildings and improvements to those buildings.

Real Time Gross Settlements - A system of inter-bank money transfers. This system lessens settlement

Real-time quote - A fixed price provided by level two trading platform or live bourse.

R.E. - Reeded edge around the coin outer band.

Recasting - Seeking a new interest rate on a mortgage; AKA refinancing.

Receipts payable - Those invoices that are due to be paid. [acct.]

Record of Decision - A decision document that accompanies an Environmental Assessment or other environmental document. [compliance]

Recourse Loan – A type of re-finance where not only is the collateral at risk, so is the borrower.

Red Herring - A preliminary filing called a registration statement submitted by a prospective new company to the SEC describing the business intent.

Redemption of Rights - Share rights redeemed by a board o directors as approved by shareholder before the flip-in even.

Redevelopment Agency Tax Allocation - Those debts secured by property taxes that have increased assessed value over the value of the project assets and properties.

Refinance - The process of terminating one loan and originating another. [RE]

Refractory ore - Any ore that does not respond to conventional mineral processing (cyanidation) to produce acceptable product recoveries without an intermediate step to address its refractory attributes (usually some form of oxidation).

Registered Commodity Representative - A broker registered by the CFTC. [Fin.]

Registered Education Savings Plan - Education savings account with eligibility for partial government matching funds. [Canadian]

Registered Investment Advisor - An individual with more than $25M in investments of other peoples money under his or her personal advisement must register with the Securities and Exchange Commission.

Registered Retirement Savings Plan - A Canadian trust registered with the Canada Revenue Agency that allows tax preferential retirement savings.

Regular Service Retirement Plan - Straight pension

Regulated Investment Company - Some mutual funds and REITS that may pass through dividends, capital gains taxes, or interest payments directly to security holders.

Real Estate Mortgage Investment Conduit - A third order derivative brokered by Ginnie Mae. Mortgages are pooled into a derivative, which are then pooled into into this third level derivative.

Related-Party Transaction - Any relationship or transaction between parties hat creates a potential conflict of interest. For example, a trade designed to specifically avoid wash-rule regulations could be considered by the IRS as a (prohibited) third-party transaction. Another example is where the CEO of a firm hires his cousin to clean the windows. Not necessarily illegitimate, just tricky (though done all the time, of course).

Relative Safety - By dividing the price performance of any equity by the performance of the underlying sector, one can gauge how that equity is performing compare to the others in the same industry. All other factors remaining equal, best to invest in a that company from a sector with a higher RS.

Relative Strength Index - This economic ratio compare the magnitudes, for a stock or fund, of recent gains versus recent losses using a fixed period of time. This trading-range momentum indicator uses a range of 0 to 100. Developed by J. Wells Wilder.

Relative Value - A measure of stock price evaluation. Determined as the percent of the PE ratio (per the 12 month future EPS estimate) of the historical PE ratio.

Re-sellers license- The state grants exemptions to paying sales tax for those dealers that obtain this resale permit.

Reserves

Proven reserves - Those measured mineral resources of which detailed technical and economic studies have demonstrated that extraction can be justified at the time of determination and under specific conditions.

Probable reserves - Those measured and/or indicated mineral resources which are not yet "proven" but of which detailed technical and economic studies have demonstrated that extraction can be justified at the time of determination and under specific conditions.

Restricted Stock Bonuses - Where the recipient typically recognized ordinary income gains on the fair market value increase above the purchase price, if applicable. Subject to vesting restrictions - this taxable event is delayed until vesting restrictions laps or the holder elects current year tax event.

Re-strike- A coin struck from the Mint after the initial production run.

Retail Price Index - A report on pricing trends in the retail sector within the US.

Retirement Savings Account - Generically refers to any pool of many set aside for retirement, especially IRAs. Particularly used in politics as the proposal to replace IRAs with a new type of account - the RSA, which would minimize investor control and profit and maximize government interference and tax.

Return on Asset - The profit (or loss) determined by the increase in price of the asset, known as capital appreciation plus the net income produced by the asset divided by the asset cost. Aka return on investment.

Return On Capital Employed - This ratio determine the profitability of a firm's invested capital assets. This determination is the earnings before interest and taxes (EBITA) divided by the total assets less total liabilities.

Return on Cash - The profit (or loss) determined by an investment as measured by the cashflow on cash invested.

Return on Equity - %ROE = (Profit/Starting Equity)/100. Also known as return on book. The profit (or loss) determined by dividing net income by book value. This metric is useful to compare a firm's profitability to others in the same sector.

Return on Invested Capital - The profit (or loss) determined by using capital to fund a new venture, versus other sources of financing. The difference between ROCE and ROIC is that in the former the capital already purchased serves as the basis for computation, whereas in the latter liquid capital is used in the equitation.

Return on Investment - The profit (or loss) determined by the beneficial return of an investment divided by the cost of the investment. This metric is a ratio (usually stated as a percentage) that has a wide variability since not all costs are defined the same by every analyst.

Return on Invested Capital - A return that only determines return based upon sunk costs (i.e. excludes re-invested dividends; favorable tax treatment, etc.).

Return on Internal Capital - A return that only determines return based upon sunk costs within an existing business versus the return that could be realized by investing in an internal business or equity.

Return on Total (Net) Assets - The profit (or loss) determined by net income + appreciation is divided by working capital and fixed assets

Return on Net Income - A financial return metric where net income is divided by net working capital and fixed assets.

Return on Revenue - A financial return metric where net income is divided by revenue.

Return on Sales - A financial return metric where net income (before taxes) is divided by sales. This measurement provides an estimation of the company's efficiency, where a known profit per each dollar of sales is calculated.

Revenue = (sales + other income streams). That amount of money received by a firm over a specific period (typically reported quarterly and annually). Include all profit streams and interest. Also known as "top line" and "gross income".

Revenue Anticipation Note - A short term debenture that plans to recoup cost and generate income based upon a projection of increased future revenues. Similar to a revenue bond, but on a shorter maturity. Often used by municipalities for things like building sports stadiums that will theoretically pay back the debt with ticket sales.

Revenue Assessment Report - The IRS determination following an audit whether or not you paid sufficient taxes.

Revenue Bonds - Bonds that are secured by revenues based upon a service provided by the issuing entity.

Reverse Convertible Bond - A moderate term debenture that can be converted to cash, debt or equity at a date set in the bond terms at the issuer's discretion. This conversion is via a derivative that allows the issuer swap for other company assets prior to the bond maturity. Typically has a higher risk, higher yield, and shorter maturity than other bond.

Reverse Convertible Note - Similar to a reverse convertible bond, but with a shorter horizon.

Reverse circulation drilling - A drilling method employing double walled drill rods. The drilling fluid (usually water) is pushed down the shaft around the rods and the cuttings are blown up the middle. [mining, drilling]

Rights of Dissent - Registered shareholders can exercise, in writing votes against changes to a companies bylaws or other substantial matters of concern according to provisions of proposed transactions and underlying bylaws.

RINA Index - (Select Net Profit)/((Average Drawdown) x (Percent time in the market)) The RINA Index is a proprietary formula that combines Select Net Profit, time in the market, and drawdown calculations into a single reward/ risk ratio; greater than 30 is acceptable.

Risk-Adjusted Return - The return on an assets when adjusted for volatility; also known as the Sharpe Ratio. Riskier projects require analysis different from safer projects. When done right, risk adjusted return considers cashflows adjustment according to changes in underlying project conditions.

RKH - Energy HOLDR

Rose Gold - A mixture of copper and gold jewelry popular in Russia at the beginning of the 19th and end of 18th centuries.

ROTFLMAO - Rolling on the floor laughing my ass off [slang, WWW]

Round Trip Transaction Costs - All expenses required to conduct a complete transaction from buy through hold to sell.

R-Squared - A correlation measurement; shows the asset volatility as defined by the volatility of the underlying sector or asset class.

Rule of 72 - An estimation of the amount of time it will take to double one's investment at a given rate of return. The rule states that you divide the compound return into 72 and the result is the approximate number of years it will take for the investment to double.

Rule 144(a)(3) - Section of US Securities Act that defines 'Restricted Securities'

Rule 144(a)(3) - Section of US Securities Act that defines treatment of depository shares under consideration by an offeror.

Rule 61-501 - Section of Ontario Securities Act that defines insider transactions.

Run of Mine - Average-grade ore or raw material.

Run of Mine Ore - Uncrushed rock that has just been blasted.

$RUT - Russell 2000 [index]

RUTTR - Russell 2000 index trading signal under the Dominant Market Theory

SSS

Semi-autogenous grinding machine - A commonly used machine that process gross ore into smaller aggregate. [mining, ore grinding]

Sales - Units sold x price per unit

Sampling - Taking small pieces of rock at intervals along exposed mineralization to determine mineral content.

SAMREC - South African Code of Reporting of Mineral Resources and Mineral Reserve

Sarbane Oxley - The U.S. Congress passed this law purportedly to protect investors from corporate accounting fraud ala Enron et. al. Realistically, the legal and accounting bloc and their action committees developed this process to ensure additional business for themselves.

Salary Reduction SEP (SARSEPs) - Some small employers could establish SEPs before the rules changed in January, 1997. Those that were funded with direct employee salary reduction contributions are known as 'SARSEPs.' Basically, the SIMPLE plans replaced SARSEPs.

Sales Load - A commission charged upon the sale of goods or services.

Savings bond - Series EE Bond offered by US Treasury. Face value is half of redemption value.

Savings Incentive Match Plan for Employees of Small Employers - A saving plan program for self-employed individuals and small companies. The plan allows tax-deductible contributions made by the employee to the SIMPLE, with the option for matching contributions to the employee's SIMPLE plan, within an IRA.

Scan Team - An operation that collects a personal check, scans it into a computer program, and reproduces the original as a new checkbook for fraudulent purposes. The original check is then washed (beached) and made out to their operation or affiliated crook.

Schedule of Proposed Actions - The items under consideration in an environmental planning document. (compliance)

Scratch – A mark left on a coin during circulation, detracting from the appeal and value of the coin. Different than flow lines or striations caused during striking the coin.

Scrip - Any paper note or bill issued by and good for purchase at a private enterprise or group of enterprises.

Seasonally Adjusted Annual Right - Economic data that is adjusted to remove seasonal fluctuations in any type of data. This allows a smoothed data set that will more accurately reflect annual data rather than month to month point data.

Schumpeter's Perennial Gale of Creative Destruction - The economic theory that entrepreneurs constantly chip away at the hegemony and monopoly of larger more established corporations, eventually replacing them.

Secondary Offering - Sales of securities that occur after the initial public offering.

Secretariat of Economic Monitoring - [Brazilian, reports to Ministry of Finance]

Secretariat of Economic Law - [Brazilian, reports to Ministry of Justice]

Securities and Exchange Commission - A congressionally chartered commission charged to regulate securities markets, investigate fraud, and protect investors.

Securities Exchange Act - AKA 'Securities Act', governs the release of information regarding stocks and future performance. [US-1934]

Securities Investor Protection Corporation - A government corporation established by Congress in 1970 ostensibly to protect security accounts, similar to how the FDIC protects savings accounts.

Securities Transfer Agents Medallion Program - [Can.]

Seigniorage - The difference between what the face value of a coin is, and the net cost to produce and deliver that same coin into circulation. Something claimed by virtue of sovereign prerogative; that is, a toll or tariff on bullion sold to the mint meant for coinage.

Self addressed stamped envelope - A mailer that already has postage paid.

Self-Dealing - 1) Inappropriate financial transactions by a trustee to take advantage of their position 2) A transaction in a Roth IRA that violates various IRS regulations regarding benefits accrued to a person versus the RIA>

Select Profit Factor - The gross profit/gross loss, excluding statistically significant outlier trades.

Selling Away - When a registered broker tries to sell you securities not held by the brokerage firm, or securities the broker is not authorized to sell. These transactions are typically not legitimate, with exceptions such as a private placement. Regulated by the Financial Industry Regulatory Authority (www.FINRA.org)

Selling, General and Administrative Expenses - The direct expenses related to sales and all direct and indirect expenses required to generate and complete those sales such as overhead, personnel costs, utilities, rent etc. As reported on the Income Statement.

SEP - Self-employed Plan [small company {25} retirement plan]

Senegalo-Malian Fault - [Geol.]

Series - Currency or coins of the same major design. Also refers to the entire production run of dates and mintmarks e.g. the mercury dimes between 1916 and 1945 from the Philadelphia, Denver, and San Francisco mints. Also refers to a run of currency notes with consecutive serial numbers.

Settlement Statement - A settlement document that show how much a buyer is giving to the seller.

S/H - Shipping and handling

Share - A portion of stock ownership.

Share capital - The number of shares outstanding for a company, including warrants and options.

Shareholder Value Added - A calculation that attempts to determine a value-based measure of a firms value to shareholders as calculated by net profit less the expenses needed to raise capital.

Sharpe Ratio - A risk-adjusted metric that develops a weighting for any equity based against a comparable index. In essence, the SR smoothes performance for volatility. Developed by Bill Sharpe, author of the Modern Portfolio Theory.

Shekel - A biblical metal coin circulating as currency.

Sheldon Scale of Grading - A numerical and empirical grading system, between 1-70, that provides relative scores to the numismatic value of a coin. Above the grades of Au55 only the even numbers only are used. That is, a very strong About Uncirculated coin would grade AU+ instead of AU 59.

Poor : 0

Fair : 1

About Good : 3

Good : 4-9

Very Good: 10-11

Fine: 12-18

Very Fine 20-35

Extra Fine 40-45

About Uncirculated: 50-59

Uncirculated: 60-62

Choice Uncirculated: 63-64

Gem-65-70

Shelf Offering - A release of stock share to the public up to an amount previously approved by the corporations board of directors and the regulatory agency.

Shield - A large area of exposed basement rocks surrounded by an assemblage of younger rocks.

SHO - A SEC Regulation that govern reporting on short sales

Shaft - A mine-working (usually vertical) used to transport miners, supplies or equipment.

Sharpe Ratio - Represents uncertainty in rate of return for any given asset class; aka standard deviation.

Short Sale - A strategy for making profits in a declining market or on the decline of an individual stock.

Short term - A market position that will be exited after reaching a certain price target or objective. Short term money refers to the Coupon Equivalent Yield of the 91 Day US Treasury Note.

Short (the market) - Taking a position that the price will decline.

Showings - Expressions of economic minerals discovered through an exploratory drilling program.

Si - The periodic table symbol for Silicon

Silver Certificate - Paper currency produced by the government with a promissory backing of face value silver.

Silver Clad - A coin with a clad core and a thin silver veneer e.g. 1965 Kennedy Half Dollar.

Silver Eagle - The one-ounce silver coin produced by the US mint staring in 1986 with a 1$ face value.

Silver Standard - The monetary value of silver, when silver circulated as coinage.

Simple Moving Average - An arithmetic calculation that adds the closing price of a security each day, for a set of time periods, and then divides this total by the number of time periods to develop a simple average. Typical periods include 13, 50, 100 and 200 day averages which are important technical indicators for charting.

Simplified Employee Pension - An an employer can establish a retirement fund for employees. Self-employed people may establish one themselves. The employer makes tax deductions for contributions into the SEP.

Single Payment Option Trade - A type of option in the FOREX market known as a binary option because the investor has the option to set up both the conditions and the size of the contract. The contract is typically developed where conditions much be met, such as a certain price on a certain date. The option writer agrees with the broker on the probability and payout for the condition and the commission is set accordingly.

Single Stock Future - An option futures contract underwritten by a single equity.

Sinking Fund - Funds designated to retire term bonds issued each year. The retirement is along a set schedule. Each bond is typically retire 10-20 year out from issue. The issuer can retire bonds via calls, resale or tender.

Six Sigma - Total Quality Management, for the 00's.

SKU - Unique product ID number assigned by the retailer

Savings and Loan - A consortium of small capitalists pool their resources into an entity that can then loan out the money for additional ventures.

Slab – The term used describe a con professionally graded and encapsulated. Coins are encapsulated in plastic, such as Poly Vinyl Chloride, to certify the grading company and protect the coin from environmental conditions.

Sleep Quotient - A measure of risk calculation. If you can sleep at night and not worry about your invested money, then you have it invested within your risk/reward comfort level.

Slippage - In production industry, the movement away from a fully efficient process. In equities, the difference in trade between the quoted price and the filled price on a purchase or sell order.

Small Order Execution System - A computer network that promotes efficient trades in NASD securities.

$SML - S & P Small Cap 600 index

SMXMF - Ticker for Samex

Sn - The periodic symbol for Tin, a base metal.

Society for Worldwide Interbank Financial Telecommunications - Composed of member financial institutions, this non-profit organization was established in 1973 by European bankers to provide a secure electronic system for inter bank transfer of funds and securities.

Soft strike –Also known as a ‘weak’ strike. A coin produced with weak or flat devices and features. Cased by old dies or reduced pressure during striking to preserve die life.

South African Rand - The unit of currency in the nation of South Africa.

SOX - Sarbane Oxley; Sulphur Oxide and Dioxide

Special Drawing Rights - The epitome of the fiat and derivative-based banking system. The SDRs serve as an agreement between member nations of the International Monetary Fund to accept the fiat other other member nations at the rate assigned by the IMF. The IMF, for its part, declares an artificial value for this 'basket of currencies' and then foists the relationship on the rest of the world. In practical terms, the value of the SDR rests with the willingness of each member nation to extract tribute, enforce usury among the central and member banks, and when that fails (as it always does; have you seen any roman coin circulating recently?) conduct warfare on it's citizens and population of other countries that do not honor the agreement (see Yugoslavia, Iraq, Syria, Iran.).

Special Purpose Entity - A group that holds bonds and receives payment on the bonds from a utility company who bills retail customers. Also a subsidiary corporation, or shell corporation ala Enron, that serves as counterparty on paper for derivative swaps.

Special Purchase and Resale Agreement - A method to increase Canadian money supply where the Bank of Canada purchases securities from primary banks, only to repurchase them the next day.

Speculator - One who gambles on a position or security on the basis of the 'greater fool theory' (that someone will always offer a higher price for something down the road).

Specific gravity - The ratio of the weight of a known volume of a substance to the weight of an equal volume of some reference substance (typically water or mercury).

Also, the ratio of the masses of equal volumes of each substance:

Aluminum 2.6989,

Bismuth 9.75,

Chromium 7.2,

Cesium 1.873 (softest metal)

Copper 8.96,

Gold 19.32

Iron 7.87

Lead 11.35

Magnesium 1.738

Manganese 7.2 to 7.45

Nickel 8.902,

Palladium 12.02

Platinum 21.45

Silicon 2.33

Silver 10.50

Tin (gray) 5.75, Tin (white) 7.30

Titanium 4.54

Tungsten 19.30

Zinc 7.133.

Spiders - Trading on the American Stock Exchange under the symbol SPY (thence the nickname "spiders" or "sypders"; their acronym is SPDR). This Exchange-traded fund is a trust that owns a proportionate representation of the S&P 500 and thus will trade accordingly.

Spiked - In oil and gas industry, the initial work (permitting, etc) needed to start a production well. "Spiking the well". [Energy]

Splasher – Term used to describe uniface die or hub trial runs.

Split Annuity - Combining two different types of annuities - single premium deferred annuity and single premium immediate annuity – this product aims for tax efficiency.

Split Dollar Plan – A life insurance policy used to cover a key person of a financial organization. The key person’s employer pays for the death benefit and receives the death payout and the covered employee pays for, and receives benefit from, the cash value component. In a related strategy, the Reverse Dollar Plan, the company may segregate out ownership of the ‘at risk’ component.

Split Year - Filing taxes in two years, via election, due to unforeseen taxable event in year one.

Spot Price - aka cash price. The current market price for immediate delivery of a physical metal or coin.

Spread - The difference between buy and ask prices serving as the profit maker or hedge against market fluctuations; aka vigorish.

SPX - Ticker symbol for the S&P 500 Large Cap index

SPY - Ticker symbol for the Spyders [SPDR; S&P 500 futures]

Savings and Stock Investment Plan (SSIP) - An corporate employee stock purchase program.

Secure Socket Layer - That protocol using layered programs to deliver information over the internet.

SSRI - The stock symbol for Silver Standard, a precious metal miner.

Stable Value Fund - A pension fund that features liquidity, safety, and principal protection and modest income. Although difficult to get one in an IRA, there are a few mutual funds that attempt these goals. Typically held in a 401k plan, an insurance contract that is basically a group annuity with a stable share price and low rates since the plan is bought in very large lots.

Stagflation - Combination inflation and recession where the economy contracts yet prices rise.

Standard Deviation - The difference between the mean and the square (A Statistical, not a financial definition).

Standard Industrial Code - A 4 number series that categorizes a business to its primary line of trade. Designed to standardize reporting and sector determination, the reality is regulatory agencies use SIC codes as a hammer to enforce their own particular brand of tribute. Replaced by NAIC.

Standard and Poor’s - A corporation that provides research and ratings for various equities and bonds and also operates an index called the S&P 500. [index]

Standard & Poor's Depositary Receipt - Trading as the ticker symbol SPY with the acronym SPDR.

Standardized Portfolio Analysis of Risk - The largest system used by worldwide options and future exchanges to establish the amount of margin risk present in any traders account.

State and Local Nonmarketable Government Securities - Known as "slugs," for both the acronym and the slow build in savings based on low interest payments, these low interest-bearing Treasury securities are used by local and municipal governments and other special districts to invest proceeds from bond issues.

Statement of Additional Information - Section of a prospectus that details expense and charges you must pay to hold a certain mutual fund or other financial instrument.

Statement of Financial Accounting Standards - [Can. GAAP]

Statutory Accounting Principles - Those internal industry regulations developed and promoted by the National Association of Insurance Commissioners which governs their practice of insuring corporate financial statements.

Steganography - The art of writing hidden messages or embedding pictures in other text or pictures in such fashion that nobody else but the intended recipient can see the imparted code.

Stoch - Stochastics (aka ‘stokes’) - A predictive system used to determine potential of future equity price movement. [TA]

Stock Exchange Daily Official List - The unique code that for all London Stock Exchange-traded equities.

Stock Market - An open bourse, a place to buy or sell equities.

Stock Appreciation Rights - A method of granting executive compensation without affecting the float issue.

Stop and Reversal - AKA 'bump and run'. The technical trading pattern caused when a price position hits a pivot point and then immediately reverses course. [TA]

Stop and Reverse - A brokers order where an equity is sold on particular action.

Stope - The underground excavation, especially a vertical-trending bore, from which ore is extracted. The primary access-way to mineral ore in an underground mine.

Strategic Asset Allocation - A strategy or series of strategies which seeks to rebalance a portfolio on a regular basis to minimize risk while maximizing reward.

Strategic Petroleum Reserves - The shell game whereby the taxpayer pays for a commodity (oil), and then is charged a markup when the government sells back that same commodity at a much higher price during a manufactured crisis. Repeat step one.

Street Tax - Vigorish, the cut, the percentage off the top taken by 'the man', 'the house' or the host.

Strike – The act of impression left by the dies hitting the planchets with force. Or, the type of impression: business strike, proof, re-strike. The qualities of force , pressure and angle of a die striking a planchet. Factors affecting strike include: Angle of die strike; planchet quality and properties such as uniformity or relative hardness; die condition; quality of dies and hubs; and heat of the planchet at moment of strike.

Strike length - The horizontal distance along the direction that a structural surface takes as it intersects the horizontal.

Strike Price - In derivative - especially commodity trading - the particular price of the underlying issue where the buyer may take delivery.

Stripping - The process of removing overburden to expose ore.

Stripping ratio - The ratio of overburden and segregable waste to ore in an open pit operation. Calculated as waste plus marginal ore divided by full-grade ore.

Strip ratio - The ratio of waste rock that must be removed before accessing valuable ore with an economic return. [mining]

Structured Investment Vehicles - A leveraged hedge fund.

Student Loan Marketing Association - (aka Sallie Mae) [NASDAQ: SLM] - The government sponsored enterprise which bundles together student loans and sells them as investments on the secondary market.

Subject to Financing - AKA ‘subject to clause’; closing depends upon satisfaction of daughter clauses (financing, inspection, etc.) [Real Estate]

Subrogation - The substitution of one individual for another on claims for continuance of benefit or remedy.

Suitability Analysis- Determination on the ability of a soil's engineering and physical properties to support indented use or development [Real Estate]. The principle that any investment must meet the objectives and risk tolerance for any individual investor, determined in advance of buying a policy or security [Pers. Fin.]

Sulphide - A mineral characterized by the linkages of sulfur with a metal or semi-metal, iron sulphide. Also a zone in which sulphide minerals occur.

Supplemental Security Income - A welfare program that provides checks to disabled individuals and those otherwise impoverished.

Supply Chain Management - The quality assurance and control applied to a firm's production, distribution and shipping of their product as an attempt to manage production most efficiently to increase profit.

Surrender Charge - A fee that begins after initial payment, typically for an annuity or permanent life insurance, policy. The charge covers the underwriting and possibility that the policy will be canceled during the grace period. The charge lessens and phases out over time.

Sustainable Growth Rate - The rate that a company can grow organically without borrowing funds or floating debentures.

Structured Investment Vehicle - A fund or investment pool that arbitrages various risk levels and positions to maximize yield.

Sweep Deposit Account - A deposit account offered by a bank or brokerage as a general pool where monies not in a particular investment are 'sweeped' into the pool at the end of a given time period, typically a day. The sweep account is typically linked to a brokerage security account established to provide the funds that are invested in a bond, fund, or stock. When the investment is sold, the monies are deposited back into the sweep account until invested again. The pooled cash earns interest tied to whatever security, such as government bonds, backing the issue.

Sweetner - see kicker.

SXEW - Type of copper heap leaching process [mining]

Syndicate - Firm or groups of firms stabilizing a share price following an offering.

System for Electronic Document Analysis and Retrieval (SEDAR) - A Canadian electronic filing system that tracks public financial documents and releases for Canadian firms.

TTT

T - The Nasdaq symbol (fifth letter) that signifies warrant (or warrant right).

T/P - Take Profit Order - A currency order with the winning exit position initially established.

Tactical Asset Allocation - A strategy or series of strategies which seeks to rebalance a portfolio based on asset price trends on a regular basis to minimize risk while maximizing reward.

Tailings - The waste material from ore after the economically recoverable metals and minerals have been extracted. Changes in the metal prices and improvements in technology can sometimes make the tailings economic to reprocess at a later stage.

Tailings Pond - A constructed settling basin for waste material.

Talent - A biblical weight referring to precious metal. Approximately the size of a cannonball.

Tandem Stock Appreciation Right - Tied to an underlying option that requires the holder to elect whether or not to exercise or to surrender the option for an appreciation equal to the market price of those shares already vested and purchasable under the surrendered option price minus the aggregate exercise price for the share type.

Tax Anticipation Notes - A short term ('note') debenture or equity issued as deficit sending by a municipality against future tax streams to conduct a present project.

Tax Favored - Those items or accounts that receive a beneficial tax treatment when properly managed.

Tax Loss Harvesting - Realizing paper losses by selling the securities. This allows you to write off the amount of loss realized to offset the same amount in capital gains realized in the same tax year. Alternately, if there is no capital gains realized, the taxpayer

Tax Preference Item - Elements such as charitable deductions that can be written against the Alternative Minimum Tax.

Taxable Equivalent Yield - A formula develop as the tax free yield divided by the: [sum of 100 minus the tax bracket]. That is, the taxable equivalent yield of a 6.25% tax-free bond for an investor in the 28% tax bracket is, for example:
6.25/(100-28) = 0.0868 or 8.68%

Taxpayer Identification Number - Analogous to social security number; for those working non-citizen residents. [US]

Tax Sheltered Annuity - A retirement investment vehicle which allows individuals to contribute pre-tax dollars into the account.

Teachers Insurance and Annuity Association - College Retirement Equities Fund 'TIACREF' - An association that provides financial services to groups of state employees.

Technical Analysis - The art of using charts and indicators to predict the future action of an equity based upon past performance and current conditions.

Tenant in Common - When more than one individual (typically just two, but could be more) owns a property. Upon the death of one owner, the other does not assume the share; instead the stake is passed on to whoever is named as beneficiary.

Tenant by Eternity/Entirety - In real estate, when more than one person owns when a property and upon death the sole survivor assumes full ownership. "Last one standing".

TEOTWAWKI - The end of the world as we know it [slang]

Term Auction Facility - Another federal reserve program used as a weapon against american-based business.

Term Securities Lending Facility - Another federal reserve program used as a weapon against american-based business

Term to Payout - A calculation on the payout period, returns over a fixed period of time, for capital-intensive startups such as mining.

Terminal Value - The value of a security at the end of a reporting period or exit of a trade.

Termination of Arrangement Agreement - Under buyout agreements, the parties typically have a clause in the legal documents whereby one party must pay the other party for backing out of some or all the provisions.

Third Party Grading service - An independent coin grading company (or a grader of other collectibles such as baseball cards, comics, etc.) that provides a coin grade and certification for a fee. Here is a partial list of coin graders.

TIA - thanks in advance [slang]

Tic - Tick (tickertape) A symbol for a company as it trades on an exchange.

Tick - On level II quote tracking software, any change in price.

Time domain electromagnetic - The use of a generated electronic field to determine the presence of subsurface anomolies. [Geophys.]

Time Horizon - Event window, that unit of time required to implement some plan or meet some goal.

Time and Sales - In stock or options trading, the printed time and amounts that a trade occurred; presented in column format.

Time Segmented Volume - A technical analysis technique that analyses price and volume data per different sections of trading throughout the day.

Times Interest Earned - See Interest Cover Ratio

To be determined - A parameter not currently defined.

Token coinage - A coin with an intrinsic value less than its face value.

Token – A struck, stamped or printed planchet produced by a private mint used to purchase or exchange services. For example, a bus or video game token.

Toronto Stock Exchange - The primary Canadian stock bourse.

Total Cost of Ownership - The price of purchase, taxes, licenses and any other cost necessary to operate any asset.

Total Enterprise Value - To measure the value of companies with debt, market capitalization isn't enough because the debt load creates a different Interest Cover Ratio for each company. Hence, the TEV includes maket capital plus, preferred stock, plus interest on debt (less cash).

Total Expense Ratio - A measure of all costs required to operate and manage a mutual fund including trading, legal fees and auditor fees; derived by dividing expenses by fund assets to develop the TER (usually expressed as percentage).

Total Shareholder Return - The total cashflow and capital gain return on an equity to the shareholder.

TPTB - The powers that be [slang]

Trading Range - The average high and low prices of an investment.

Trade Volume Index - A short term technical trading indicator that considers intraday trade information to determine price pressure based upon the volume of each trade to determine money flow and direction.

Trading With the Enemy Act - Authorizes the President, during times of war, to regulate, restrict or prohibit private ownership of gold.

Trailing stop - A moving stop loss that will liquidate a position going up in price once a particular price point in reached. The stop loss position moves up as the stock moves up and therefore maintains an increasing capital gain while protecting the capital. [trading]

Trailing Twelve Months - A reporting period with constantly moving beginning and end points.

$TRAN - Dow Jones Transportation Average [20 Transportation stocks].

Transfer on Death - A pre-designation of beneficiaries who will receive your personal assets upon death, avoiding probate.

Transition zone - A zone containing a mixture of oxide and sulphide material, usually lying between the oxide and sulphide zones.

Treasury Inflation-Protected Securities - Inflation bonds (I-Bonds) that have two components which pay a dividend, the coupon and the inflation rate gauged as the CPI.

Treasury International Capital - A US Treasury system for estimating the amount of foreign holdings of combined bills, bonds and notes; functions as a measure of net flow of foreign investment into the US.

Treasury Investment Growth Receipts - US securities bundled by Merrill Lynch and sold to investors on secondary markets.

Treasury Stock - Company held stock; un-issued shares.

Trenching - Making elongated open-air excavations for the purposes of mapping and sampling.

Tribute - Fealty; alms paid.

TRIN- Arms Index ratio calculated as the Advance Decline line expressed as numbers divided by the A/D line expressed as volume.

Triple Net Lease – Provides that the tenant is completely and solely responsible to pay for rent and all other costs of property such as upkeep, maintenance, and utilities.

Triple Bottom Line - Net Profit, Impact on Environment, Impact on Community

Tri Sodium Phosphate - A base used to clean coins and other materials.

Troy Ounce - A dry physical unit of weight for precious metals. See Weights and Measures for more information.

Truck-mounted rig - A mobile vehicle, such as a flatbed truck, that has a drilling rig mounted on the back which allows the rig to access remote sites

for exploration. [mining, drilling]

Trust Transfer Amount - A surcharge to pay for bonds used to build utility infrastructure such as dams and power plants.

TSX Toronto Stock Exchange

TU Trans Union

Tunnel - An adit that runs completely through a hillside, daylighting on the other side.

.T - An (alternate) extension for equities that trade on the Toronto Stock Exchange.

.TO - An extension for equities that trade on the Toronto Stock Exchange.

UUU

U - A symbol extension for a ticker on the Nasdaq (e.g. JJJ.U) that notes the security in units.

Ulcer Index - A calculation that used the square root of the average of the squared retracements for performance of an equity or security over a fixed period of time. For more information: http://www.tangotools.com/ui/ui.htm

Undertakings for the Collective Investment of Transferable Securities - A LLC that conducts business on behalf of trusts in the EU.

Unit Investment Trust - Specialized trusts that area assembled by a sponsor (such as Claymore, First Trust, Nuveen, etc.) in redeemable units and have a set expiration in the future. The trusts are offered via IPO and then traded on the secondary market.

United Arab Emirates - Mid-east amir.

United Auto Workers - A north American union. that previously wielded a large amount of influence in the US labor markets.

Uniform Gift to Minors Act - The US Act that allows minors to own securities that have been gifted to them under management by a custodian.

Uniform Transfers to Minors Act - Whereas congress, to date, has never succeeded the first time, this Act modifies the UGMA - ostensibly to do what should have been done the first time (allow non-securities gifts to minor's accounts).

Uni-K - A solos 401(k) which is a type of deferred benefit plan

Unified Managed Account - Another product of the financial services industry, one that can accommodate various types of investments in once account under the guidance of an investment professional.

Unified Modeling Language (UML) - A syntax-independent notated computer language; used for financial transfers

Unit Investment Trust - A mixed portfolio of income-producing bonds or dividend paying stocks, or similar, are bundled into one security. The investors then buy into this trust, and have a proportionate share of the trust and the income it produces.

Unit Trust - A structure similar to a mutual fund, expect profits on the assets are distributed to investors instead of reinvested in the fund.

United Nations - The structure developed to implement and collect the global tax.

Universal product code - A unique product Identification number assigned by the manufacturer.

United Parcel Service - A US mailing and deliver corporation.

Unpaid balance - That which is owed. [accounting]

Unrelated Business Taxable Income - Where income is produced in a tax exempt structure, such as an IRA, but the income production is considered a taxable activity.

Upside- Downside Ratio - The method for determining the safety margin of purchasing a stock by dividing the probability of a price increase into the probability of a stock decrease while looking for a ratio of 3 or better. (Trading)

US - UNITED STATES CORPORATION; incorporated in Delaware.

U.S. - The Republic of the United States of America

US - The CORPORATION OF THE UNITED STATES

United States Code (USC) - Laws passed by congress as codified (indexed by statute). [US legal]

USD - UNITED STATES dollar (FRN)

United States Postal Service - That organization developed to provide mail service as required by the US Constitution.

Upfront Mortgage Broker - An agent that will disclose the rate sheet price upon request for a particular loan from a particular lender.

USERX - A Precious Metal Mutual Fund

United States Treasury - That entity in the executive branch responsible for us financial policy and mechanisms.

$UTIL- Dow Jones Utilities Average

UW - Underwriter of financial or insurance products.

VVV

V - The fifth letter symbol on the Nasdaq for a 'when distributed' company.

Value Added Monthly Index - A hypothetical return on a model portfolio that an investor puts together to practice trading. The total return includes appreciation, and reinvestment of dividends.

Value at Risk - A model that quantifies the risk probability of a given trade strategy.

Variable Coupon Renewable Note - A fixed income security with an interest rate that changes based upon the change in short term treasury notes.

Venture Capital - Money that is loaned to high-risk/high-reward start up firms.

Verdigris - From the Latin for 'green gunk' - the greenish corrosion spots found on copper.

Viatical Settlement- When you buy a life insurance policy expecting imminent death. You receive a payment on the policy every month before the expiration date. Should you live too long - past the expiration date, then you are locked into making payments on the policy until actual death. Mostly these policies are highly speculative and risky at best, scams at worst. There are angles one can play with these, but definitely not for the mainstream investor.

Vigorish - The cut, or percentage, that the house takes on your winning bets.

VIX - Market Volatility index symbol

Visibility - Sunshine. Regarding operations of government and security holdings, visibility means that the casual outsider can see the inner workings. Regarding personal finance, visibility means an action that does not require interference by an outside agency or other regulator. For example, a revocable trust is visible since its establishment or dissolution does not automatically require reporting to the IRS.

Volume Weighted Average Price - An indicator developed by adding up volume in dollars traded for each transaction divided by the number of shares traded for that day. The investor should buy when the bid price is below the VWAP.

Volume Price Trend Indicator - This indicator determines the ratio between demand and supply in an equity. The ratio is developed by monitoring the cumulative volume line, and then adding or subtracting percentage change in price trend and current volume.

VXN - Market Volatility index symbol on the Chicago Board of Options Exchange (Nasdaq 100 -NDX).

Vulture Capital - The rare and difficult practice of buying the market when it comes to you on your terms. For instance, how many people have the guts to buy a market when it is at its low and in the midst of panic selling? That is the precise time when vulture capital enters the market, buying assets at pennies on the dollar. See Richard Rainwater. See buying pre-foreclosures.

WWW

W - The fifth letter symbol on the Nasdaq for a 'when distributed' company.

WA - Washington, Western Australia

Warrants - An entitlement to the holder to purchase previously agreed amounts of common stock shares at a previously agreed price on or before a previously agreed expiration date. Warrants are often divided into the following Classes: Indentures, Purchase, and Series)

Indenture warrants area type of financial arrangement between the corporation offering warrants and the corporation acting as underwriter.

Purchase warrants typically entitle the holder to purchase common shares pursuant to indenture offerings.

Series warrants are typically options of similar structure but with differing prices and dates.

Wash Sale Rule - You can sell at a gain and buy back the same stock using stocks sold at a loss without penalties. When selling a loss, the wash sell rule says you cannot take a loss against taxes and then buy the same stock again within 31 days. Further, you cannot have a related party (spouse or child) purchase the same stock in their account either.

Waste - Rock lacking sufficient grade and/or other characteristics of ore to be commercially exploited.

Weighted Average Cost of Capital - A company determines the true costs for a new venture by determining the average costs of both equity and debt financing as weighted by percentage used to fund the new venture.

Weight Averaged Life - An average of the number of years a dollar of unpaid principal remains outstanding on a loan. This calculation determines how long it will take to pay off the loan principal (and therefore how much the loan will cost in total).

Waste Heap - Synonym for tailings.

When Issued - See 'when distributed'

White Knight - A private equity group that can interfere to prevent a hostile takeover of a publically traded firm from another corporation.

Wholly Foreign-Owned Enterprise - A Chinese construct that allows foreign ownership of a corporation in China.

Winze - An inclined or vertical shaft driven down into an ore body from a drift or stope.

Witching - The day of option expiration.

$ WLSH/TMWX - The Wilshire 5000 Total Market Index is a market capitalization-weighted index which includes over 6,500 US corporations that trade on the AMEX.

World Gold Council - Gold mining company association.

Working Capital - Assets minus liabilities.

Working Capital Ratio - Assets divided by liabilities.

World Trade Organization - The international socialist wing dedicated to ensuring a cut on every trade ends up in their pocket rather than yours.

Wrappers – The paper outer paper shell container and any assorted documentation holding the coins in a roll.

W%R - Williams %R, a technical analysis indicator {TA]

WTSHTF - When the stuff hits the fan

World Trade Organization - Member nations that establish free trade agreements and policies.

World Wide Web - Generally, the Internet.

WYSIWYG - What You See is What You Get [slang]

XXX

X - The fifth letter symbol on the Nasdaq for a mutual fund.

XAGUSDO FOREX Silver spot price

XAU - Philadelphia Gold and Silver Index An index composed of 12 precious metal mining firms that trades on the Philadelphia exchange

$XAX -AMEX Composite Index

XEU Euro Index

XJY Japanese yen

XLB spyder; S&P Basic Industry SPDR

XLE spyder; S&P Energy SPDR

XLF spyder; S&P Financial SPDR

XLF spyder; S&P Industrial SPDR

XLK spyder; S&P Tech SPDR

XLP spyder; S&P Consumer Staples SPDR

XLU spyder; S&P Utility SPDR

XLV spyder; S&P Consumer Services SPDR

XLY spyder; S&P Cyclicals and Transports SPDR

XML - eXtensible Mark-up Language

x-Ray Florescence – A mechanical analyses conducted to determine the presence or percentage of metal in an object.

YYY

Yankee CD - A Certificate of Deposit issued by a foreign bank in the US for a face value of over 100,000. AKA Negotiable CD.

Year over Year - A comparison of a securities performance between two consecutive 52-week periods.

YGM - You've got mail [slang, WWW]

Yield - 1) Stocks: Price increase plus dividends. The income stream generated by any asset. For bonds, the yield is the amount of interest paid divided by the price paid 2) Yield (recovered grade) - The actual grade of ore realized after the mining and treatment process.

Yield Curve - The interest paid by short, medium, and long term securities plotted over time against each other. The curve develops because as the longer term yield (typically) pays a higher interest rate, the rate in increase of the slope extends.

Yield Spread Premium - Payment to a mortgage broker for lower points paid on a mortgage - even if the interest rate is higher.

Yield to Maturity - The rate of return a bond will generate if held until maturity. This include the discount paid off of face value.

YMMV - Your mileage may vary [slang, WWW]

YTD - Year to date; shorthand for accounting period.

ZZZ

Zar - South African Rand; the nations unit of currency.

Zero Basis Risk Swap - Where a municipality uses the service of an intermediary who offers a floating rate. The intermediary is paid the fixed rate that the municipality floated to the public.

Zero Balance Account - A checking account where a balance is kept on a permanent basis by only funding the account for the amount of checks or drafts written against it.

Zero Based Budgeting - The budgeting style where all expenditures are justified in every new reporting period. With standard budgeting, the amounts that exceed funding are the only items highlighted.

Zoning - Dividing expected future stock price into buy, sell and hold sectors. (Trading)

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