Bullion

[1] Although precious metal bullion is no longer used to make coins for general circulation, it continues to be held as an investment with a reputation for stability in periods of economic uncertainty.

To assess the purity of gold bullion, the centuries-old technique of fire assay is still employed, together with modern spectroscopic instrumentation, to accurately determine its quality.

Modern bullion coins generally do not enter common circulation despite having legal tender status and nominal face value.

[4] Other professional parties such as investment companies and jewelers use bullion in the context of products or services which they produce or offer to customers.

Bullion investments can be considered as insurance against inflation or economic turmoil, their sole direct counterparty risk is theft or government confiscation.