### Question
How is the term average world price defined?


### Answer
The term **average world price** is defined in *31 U.S.C. § 5116* as the following:

> the price determined by a widely recognized commodity exchange at the time the silver is obtained by the Secretary

#### Citation:
  - *31 U.S.C. § 5116*
  - Heading: **SUBTITLE IV-MONEY > CHAPTER 51-COINS AND CURRENCY > SUBCHAPTER II-GENERAL AUTHORITY**

