What is bullion?
PerryHall
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I used to think bullion was limited to only precious metals but lately I've been seeing copper bars being refered to as bullion especially on eBay. Thoughts?
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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Weeky leaks defines Bullion as:
"A metal is deemed to be precious if it is rare. The discovery of new sources of ore or improvements in mining or refining processes may cause the value of a precious metal to diminish. The status of a "precious" metal can also be determined by high demand or market value. Precious metals in bulk form are known as bullion, and are traded on commodity markets. Bullion metals may be cast into ingots, or minted into coins. The defining attribute of bullion is that it is valued by its mass and purity rather than by a face value as money.[3]"
So in this day & age copper is bullion too according to definition above
Personally I would have classed copper as a commodity
If you saw 1 lb. of copper wire priced at $4.38 and its price went up or down in direct relation to the current spot price of copper, I would say that is bullion.
Metal in its solid form is obviously the most common and convenient but wether its a vapor or liquid I dont think it matters as long as the metal can be weighed.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
all kidding aside i am in agreement with gecko, i would never (in my lifetime) consider copper a bullion item.
these are cool
they make a nice pen holder on my desk.
<< <i>All metals are commodities. Some just happen to be sub categorized as "bullion" as well. >>
Exactly