Bullion

The word bullion originally meant ‘mint’ or ‘melting place’ from the old French word bouillion (boiling) but became the generic term for refined bars or ingots of gold and silver and the trade in them. Thus, the Bullion Office at the Bank of England, by the eighteenth century, was the crossroads of most gold transactions for the London market, just as many traders call themselves bullion banks today. Although principally implying bar gold, it has been extended to cover bullion coins.