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Bullion refers to silver, platinum, or gold with an extremely high level of purity (typically over 99%). In addition, they come in the form of ingots, bars, and coins. Bullion is typically the final product of mining and processing precious metals. For example, when it comes to gold, the ore that is extracted from the mines contains both rock and gold elements. Using chemicals or heat, the gold is separated from the rock and transformed into bullion. Depending on the purity of the resulting gold, one can have parted bullion which is almost 100% gold, or unparted bullion, which contains both gold and other types of metals.
If you plan to sell your bullion, AGR can offer you excellent prices for it. We ensure that all transactions are quick and seamless so that you get the cash you need on time.
Bullion typically comes in the form of ingots and bars that are almost 100% gold, silver, or platinum. It is sometimes used as legal tender and many countries have also used bullion to back up their currency for years. In the United States, the Federal Reserve Bank used gold bullion to back the U.S. currency until the 70s when the practice stopped. However, many central banks around the world still hold gold bullion in their reserves to shore up their currency. In fact, it is estimated that as much as 20% of all the gold that is mined around the world is held by central banks and other financial institutions. Investment banks also hold gold bullion to protect their investment against currency inflation.
Over the years, the term bullion bank was used to describe banks that extensively trade gold bullion. The activities of these bullion banks are managed by the London Bullion Market Association, which has a global membership.
Bullion is categorized according to a variety of factors. Here are several categories of bullion:
If you have some bullion in the form of ingots, coins, or in any other form, it may be a smart idea to sell it to AGR. The price of gold, silver, and platinum fluctuates all the time, and not selling now may reduce potential profits. The value of these precious metals is currently high due to the weakening of economies and the COVID-19 pandemic. However, with the discovery of a vaccine and the expected normalization of economies around the world, the value of these precious metals may decline. It makes a lot of sense to sell your bullion now and take advantage of the current market prices.
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