The grades and variations used to describe rum depend on the location that a rum was produced. Despite these variations the following terms are frequently used to describe various types of rum:
- Light Rums, also referred to as light, silver, and white rums. In general, light rum has very little flavor aside from a general sweetness, and serves accordingly as a base for cocktails. Light rums are sometimes filtered after aging to remove any color. The Brazilian immensely popular Cachaça belongs to this type.
- Gold Rums, also called amber rums, are medium-bodied rums which are generally aged. These gain their dark color from aging in wooden barrels (usually the charred white oak barrels that are the byproduct of Bourbon Whiskey).
- Spiced Rum: These rums obtain their flavor through addition of spices and, sometimes, caramel. Most are darker in color, and based on gold rums. Some are significantly darker, while many cheaper brands are made from inexpensive white rums and darkened with artificial caramel color.
- Dark Rum, also known as black rum, classes as a grade darker than gold rum. It is generally aged longer, in heavily charred barrels. Dark rum has a much stronger flavor than either light or gold rum, and hints of spices can be detected, along with a strong molasses or caramel overtone. It is used to provide substance in rum drinks, as well as color. In addition to uses in mixed drinks, dark rum is the type of rum most commonly used in cooking.
- Flavored Rum: Some manufacturers have begun to sell rums which they have infused with flavors of fruits such as mango, orange, citrus, coconut, and lime which is a lime rum found in Sweden. These serve to flavor similarly themed tropical drinks which generally comprise less than 40% alcohol, and are also often drunk neat or on the rocks.
- Overproof Rum is rum which is much higher than the standard 40% alcohol. Most of these rums bear greater than 75%, in fact, and preparations of 151 to 160 proof occur commonly.
- Premium Rum: As with other sipping spirits, such as Cognac and Scotch, a market exists for premium and super-premium rums. These are generally boutique brands which sell very aged and carefully produced rums. They have more character and flavor than their "mixing" counterparts, and are generally consumed without the addition of other ingredients.