Bullion

bul'yun, uncoined gold or silver. The coining value of an ounce of pure gold is $20.67183; of silver, $1.2929. In coinage it is customary to take nine hundred parts of pure gold or silver and one hundred parts of copper alloy to give hardness. Bullion thus alloyed is called standard bullion. The world now produces about 15,000,000 ounces of gold bullion and 164,000,000 ounces of silver bullion a year. See Gold; Silver; Mint; Coinage