Bullion

Bullion refers to physical precious metals in refined form (bars, coins, or rounds) whose value is determined primarily by their metal content at the current spot price, not by rarity or collector demand.

Forms of Bullion

• Bars: Cast or minted bars from accredited refiners. Lower premiums than coins. Ideal for large-scale storage.
• Government coins: Legal tender bullion coins — American Eagles, Maple Leafs, Krugerrands. Universally liquid worldwide.
• Rounds: Privately minted coin-shaped discs with no legal tender status. Lowest premiums of any coined form.

Why Investors Choose Physical Bullion

Unlike ETFs or mining stocks, physical bullion carries no counterparty risk. You own the metal outright — it cannot default, go bankrupt, or be diluted.