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Bullion coins are government-minted, legal tender coins made of precious metals, such as gold, palladium, platinum, rhodium, and silver. They are kept as a store of value or an investment rather than used in day-to-day commerce.
Bullion coins can have fineness ranging from 91.9% (22 karat) to 99.99% purity (24 karat). For the VAT exemption purposes the United Kingdom defines investment coins more specifically as coins that have been minted after 1800, have a purity of not less than 900 thousandths and are, or have been, legal tender in their country of origin. [ 2 ]
Ancient silver coins coveted by collectors include the Denarius and Miliarense, while more recent collectible silver coins include the Morgan Dollar and the Spanish Milled Dollar. Other than collector's silver coins, silver bullion coins are popular among people who desire a "hedge" against currency inflation or store of value.
The American Silver Eagle is the official silver bullion coin of the United States.It was first released by the United States Mint on November 24, 1986, and portrays the Goddess of Liberty in a design by Adolph A. Weinman that was originally used on the Walking Liberty half dollar from 1916 to 1947.
For example, in 2021, a 1933 Gold Double Eagle coin sold at auction for over $18 million. It fetched such a high price because of its extreme scarcity, as it is one of only 13 surviving coins from ...
These coins were also very well known in the Persian and Sassanids era, most notably, in Susa and in Ctesiphon. Precious metals were used historically in commodity money and are found in bullion coins and some collectable coins. Coins functioning as fiat money are now made from a larger variety of base metals.
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