Definition of Bullion

Gold and silver intended to be coined. The term is usually applied to a quantity of these metals ready for the mint, but as yet lying in bars, plates, lumps or other masses; but it may also include ornaments or dishes of gold and silver or foreign coins not current as money, when intended to be descriptive of its adaptability to be coined, and not of other purposes to which it may be put. Hope Min. Co. v. Kennon, 3 Mont. 44; Thalheim v. State, 38 Fla. 169, 20 South. 938; Counsel v. Min. Co., 5 Daly (N. Y.) 77.
—Bullion fund. A fund of public money mnintained in connection with the mints, for the purpose of purchasing precious metals for coinage.