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What is ‘Bullion’?

Bullion is an amount of precious metal not minted as a coin with a predesignated currency value. Gold bullion typically takes the forms of gold bars which are valued by their current market price. A gold ‘bullion coin’ is a coin worth the market value of its gold content rather than a monetary denomination, i.e. £5.

gold bars, aka bullion

gold bars, aka bullion