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Silver Price Jordan
The country of Jordan is an Arab kingdom that is officially known as The Hashemite Kingdom of Jordan. The nation is bordered by the Red and Dead Seas, as well as the countries of Saudi Arabia, Palestine, Iraq, Syria and Israel. Amman is Jordan’s capital city, as well as its most populous. The capital city is also the epicenter of Jordan’s economy and political apparatus. Jordan’s government is a unitary parliamentary constitutional monarchy. The economy of Jordan is one of the smallest in the region, and the nation has a population approaching 10 million. Jordan has become a major tourist destination.
The official currency of Jordan is the Jordanian Dinar. The dinar became the nation’s official currency in 1950, and the currency can be subdivided into numerous smaller units of currency. Dinar notes feature the nation’s official name “The Hashemite Kingdom of Jordan.” The Jordanian currency has been pegged to the IMFs (International Monetary Fund) SDR, or Special Drawing Rights, since the mid 1990s. This exchange rate puts the value of the dinar at about .709 per 1 U.S. Dollar.
As is the case with many other countries, the Jordanian currency is issued and managed by the country’s central bank, the Central Bank of Jordan. The central bank is tasked with numerous other key responsibilities including managing the country’s foreign exchange reserves and its gold reserves.
If you are looking to purchase silver in Jordan or simply want to see current prices for the metal, you will likely see prices quoted by the ounce, gram or kilo in dinar. Prices may also be available in other key global currencies such as U.S. Dollars, Great British Pounds, euros or Japanese Yen.
The Royal Jordanian Mint has produced a variety of commemorative and proof coins over the years. These types of coins can make a nice addition to any collection or portfolio, but may not be the most cost effective way to acquire a lot of silver.
Silver bullion bars, coins and rounds are the best way to go when looking to get as many ounces of silver as possible. Silver bars, in particular, may offer the lowest potential per-ounce premiums. Bullion bars are available in two types: minted bars and cast bars. Minted bars are produced by stamping blanks. Cast bars, on the other hand, are produced by pouring liquid metal in molds and then allowing the metal to cool. Due to the way cast bars are produced, they may be the cheapest for refiners to produce and therefore may carry the lowest overall premiums. In addition, because of the way cast bars are made, no two cast bars will look exactly the same.
Larger weight bars may offer an even further potential cost savings. This is due to the fact that the refining costs for a 1 ounce bar and a 100 ounce bar are similar. Therefore, the premiums may be similar, but with the larger bar the purchaser is getting more actual bullion at what may be a lower per-ounce cost.