Definition: gold and silver in the form of bars
Definition: gold and silver in the form of bars
Sentences Containing 'bullion'
Since the reformation of the gold coin, the market price of standard gold bullion seldom exceeds
Five shillings and twopence an ounce, therefore, is said to be the mint price of silver in England, or the quantity of silver coin which the mint gives in return for standard silver bullion.
Though the market price of silver bullion has fallen considerably since the reformation of the gold coin, it has not fallen so low as the mint price.
But as the price of copper in bars is not, even in England, raised by the high price of copper in English coin, so the price of silver in bullion is not sunk by the low rate of silver in English coin.
Silver in bullion still preserves its proper proportion to gold, for the same reason that copper in bars preserves its proper proportion to silver.
Mr Locke imputed this high price to the permission of exporting silver bullion, and to the prohibition of exporting silver coin.
This permission of exporting, he said, rendered the demand for silver bullion greater than the demand for silver coin.
There subsists at present a like permission of exporting gold bullion, and a like prohibition of exporting gold coin; and yet the price of gold bullion has fallen below the mint price.
As the reformation of the silver coin did not then reduce the price of silver bullion to the mint price, it is not very probable that a like reformation will do so now.
But gold in coin is more convenient than gold in bullion; and though, in England, the coinage is free, yet the gold which is carried in bullion to the mint, can seldom be returned in coin to the owner till after a delay of several weeks.
This delay is equivalent to a small duty, and renders gold in coin somewhat more valuable than an equal quantity of gold in bullion.
The superiority of coin above bullion would prevent the melting down of the coin, and would discourage its exportation.
Before the late recoinage of the gold, the price of silver bullion was seldom higher than five shillings and sevenpence an ounce, which is but fivepence above the mint price.
Even before the late recoinage of the gold, therefore, the coin, gold and silver together, when compared with silver bullion, was not supposed to be more than eight per cent.
At home, and while they remained in the shape of coin, those heavy pieces were of no more value than the light; but they were of more value abroad, or when melted down into bullion at home.
The exportation of foreign coin and of bullion was made free.
In England, as the coinage costs nothing, the current coin can never be much more valuable than the quantity of bullion which it actually contains.
In order to facilitate the trade in bullion, the bank has been for these many years in the practice of giving credit in its books, upon deposits of gold and silver bullion.
In Holland the market price of bullion is generally above the mint price, for the same reason that it was so in England before the late reformation of the gold coin.
A person can generally sell his receipt for the difference between the mint price of bullion and the market price.
A receipt for bullion is almost always worth something, and it very seldom happens, therefore, that anybody suffers his receipts to expire, or allows his bullion to fall to the bank at the price at which it had been received, either by not taking it out before the end of the six months, or by neglecting to pay one fourth or one half per cent.
The person who has a receipt, and who wants to take out bullion, finds always plenty of bank credits, or bank money, to buy at the ordinary price, and the person who has bank money, and wants to take out bullion, finds receipts always in equal abundance.
The holder of a receipt cannot draw out the bullion for which it is granted, without re-assigning to the bank a sum of bank money equal to the price at which the bullion had been received.
The owner of bank money cannot draw out bullion, without producing to the bank receipts for the quantity which he wants.
The holder of a receipt, when he purchases bank money, purchases the power of taking out a quantity of bullion, of which the mint price is five per cent.
The price of the receipt, and the price of the bank money, compound or make up between them the full value or price of the bullion.
The bank of Amsterdam has, for these many years past, been the great warehouse of Europe for bullion, for which the receipts are very seldom allowed to expire, or, as they express it, to fall to the bank.
That it keeps in its repositories all the money or bullion for which there are receipts in force for which it is at all times liable to be called upon, and which in reality is continually going from it, and returning to it again, cannot well be doubted.
What is paid for the keeping of bullion upon receipts, is alone supposed to amount to a neat annual revenue of between 150,000 and 200,000 guilders.
The current price of gold bullion at market, therefore, instead of being the same with the mint price, or
This profit always arises from the difference between the quantity of bullion which the common currency ought to contain and that which it actually does contain.
When this great company, therefore, bought gold bullion in order to have it coined, they were obliged to pay for it two per cent.
The bank of England is the only company which sends any considerable quantity of bullion to the mint, and the burden of the annual coinage falls entirely, or almost entirely, upon it.
Our reserve of bullion is much larger at present than is usually kept in a single branch office, and the directors have had misgivings upon the subject."
But it was essential that they should use it soon, as it might be discovered, or the bullion might be removed.
Both Brewer's Gold and Bullion are seedlings of BB1 (found wild in Manitoba).
Substitutes: Hallertau, Pride of Ringwood, Bullion.
These bars must be stored in recognized and secure gold bullion vaults to maintain their quality status of Good Delivery.
American Arts Commemorative Series medallions are a series of gold bullion medallions produced by the United States Mint from 1980 through 1984.
They were sold in order to compete with the South African Krugerrand and other bullion coins.
All were struck at the West Point Bullion Depository.
The intent of the act was to provide average consumers with affordable, small–sized gold bullion in order to compete with the South African Krugerrand and other world bullion coins, which were becoming increasingly popular with American investors; 1.6 million ounces of gold had been imported into the United States in the form of Krugerrands in 1977 alone.
Furthermore, as their bullion value generally vastly exceeds their face value, these coins are not intended to be used as means of payment at all—although it remains possible.
Some penny roll searchers save copper Lincoln cents (1959–1982 for part of the year) for the growing value as copper bullion.
The album was released via High Fiber Productions in Israel and Bullion Records in Japan.
Three years later (1645), with a donation of 6000 francs by Angélique Bullion, she opened a hospital on Rue Saint-Paul.
The Australian Gold Nugget is a gold bullion coin minted by the Perth Mint.
This and their limited annual mintage may, unlike for many other bullion coins, raise their numismatic value over the value of gold used.
These features were unusual for a standard bullion coin and gave the Nugget a unique market niche.
The Australian Gold Nugget coins should not be mistaken for The Australian Lunar Gold Bullion coins.
More Vocab Wordsspruce - neat and trim in appearance; smart; Ex. Be spruce for your job interview; V.
luminary - celebrity (in a specific field); dignitary; object that gives light (as a celestial body)
truncate - cut the top off; shorten
plasticity - ability to be molded; ADJ. plastic: capable of being shaped or molded; Ex. plastic material such as clay
forlorn - sad and lonely; wretched; desolate
flout - reject; mock; show contempt for; scorn; Ex. flout the rules
quash - crush; suppress; squash; subdue; annul; Ex. quash a rebellion/the decision of the low court
disavowal - denial; disclaiming; repudiating; disowning; V. disavow; CF. disclaim
depredation - plundering; destruction
absolute - complete; totally unlimited; having complete power; certain; not relative; Ex. absolute honesty/ruler; CF. absolutism