Question

‘Bullion’ refers to gold, silver or other precious metals in the  form of

Options

• Ingots or bars only

• Bars as well as coins 

• Coins only

• Jewellery

Answer 1

Bars as well as coins 

Explanation: Bullion is gold bars, silver bars, and other bars or ingots of precious metal. The word bullion comes from the  French Minister of Finance under Louis XIII, Claude de Bullion. The value of bullion is typically determined by the value of its precious metals content, which is defined by its purity and mass.