Bullion refers to precious metals, such as gold and silver, that are in the form of bars or ingots. It is typically valued based on its weight and purity rather than its form or craftsmanship. Investors often buy bullion as a way to preserve wealth and hedge against inflation. Bullion can be traded in various markets and is often stored in secure facilities. The value of bullion fluctuates based on market demand and economic conditions. Many people also collect bullion coins, which are minted by governments and can carry numismatic value in addition to their metal content.