Last Updated:
25th Oct @ 9:00am
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What is Bullion?

In the world of precious metals, the term “bullion” represents a refined class of assets with intrinsic value.

Let’s explore the core characteristics that define bullion and distinguish it from other forms of precious metal assets.

1. Definition of Bullion

Bullion encapsulates precious metals—gold, silver, platinum, and palladium—that undergo a meticulous refining process to attain a minimum level of purity. The hallmark of bullion lies in its tradable forms: cast bars, minted bars, and coins. The price of bullion is determined by the dynamic ‘Spot Price’ of the metal it contains.

2. Minimum Purity Standards

For each precious metal, there exists a stringent purity criterion, ensuring that bullion maintains a standard of excellence. These minimum purity levels are as follows:

Gold – 99.5%
Silver – 99.9%
Platinum – 99.0%

3. Forms and Weights of Bullion

Bullion is available in diverse forms, offering flexibility to investors. The primary structures include cast bars, minted bars, and coins, each available in various weights measured in ounces, grams, or kilograms. This variety allows investors to choose the format that aligns with their preferences and investment goals.

4. The Dynamic Spot Price

The pulse of the bullion market lies in the ever-changing ‘Spot Price.’ This real-time marker reflects the current market value of each precious metal. Investors and traders alike rely on the Spot Price as a crucial reference point for buying or selling bullion in the market.

What Bullion is NOT:

It is essential to distinguish bullion from other precious metal assets:

Collector Coins: Unlike bullion, the value of collector coins extends beyond metal content. Factors such as rarity and condition play a significant role in determining their price.
Jewellery: Jewellery does not fall under the bullion category. The pricing of jewellery encompasses craftsmanship, design, and gemstone considerations.

Scrap Precious Metals: Items like broken gold, silver, or platinum do not qualify as bullion. The valuation of scrap precious metals involves considerations beyond the standardised criteria of bullion.

In conclusion, understanding bullion goes beyond its physical form; it encapsulates a commitment to purity and market dynamics. Whether you’re a seasoned investor or a newcomer to the world of precious metals, navigating the realm of bullion opens doors to a tangible and enduring form of wealth.

Interested in Bullion?
Contact one of our experienced GSB team members to found out more.


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GSB Price Estimator

Calculate an estimate of what you may be paid when selling your jewellery & scrap precious metal to GSB

Wt (grams)

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Note - The above figures are estimates only for the following reasons:
1. The price of gold and silver changes throughout each day.
2. No allowance has been made for stones and non gold or silver content in the above weights

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