Bullion
Gold, silver, or other precious metals in the form of bars or ingots
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Bullion (2) · Silver coins (1) · American Silver Eagle (1) · Market liquidity (1) · Precious metals investment (1) · Sovereign mints (1) · Spot price (1) · Silver Eagle (1) · Precious Metals (1) · Silver Spot Price (1) · United States Mint (1) · Market Volatility (1) · Investment (1) · Numismatics (1)
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# Bullion
**Bullion** is non-ferrous metal that has been refined to a high standard of elemental purity. In modern commerce, the term is most commonly applied to bulk precious metals—primarily gold and silver—used for investment purposes or in the production of coinage.
### Etymology
The term originates from the Anglo-Norman word for a melting-house where metal was refined. Its earlier roots can be traced to the French word *bouillon*, meaning "boiling," in reference to the process of melting metal for purification.
### Characteristics and Usage
* **Composition:** Bullion is characterized by its high purity levels and is typically traded in the form of bars, ingots, or specialized bullion coins.
* **Function:** While it can refer to industrial non-ferrous metals, its primary association is with precious metals held as a store of value or as a reserve asset by central banks and investors.
* **Valuation:** The value of bullion is determined by the intrinsic value of its precious metal content, calculated by its weight and purity (fineness) rather than its face value or artistic merit.
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- 👤 American Silver Eagle (2 shared articles)
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- 🌐 Market liquidity (1 shared articles)