Definition

• Bullion Medal.  A medallic item created not for its commemorative, historical, souvenir or art design aspect, but for the precious metal it contains. Obviously, bullion medals bear no denomination, but, like bulllion coins, each piece is usually marked with its fineness, its weight (usually a multiple or fraction of an exact ounce), and sells at its bullion value – not at a collector value. An early Example was a Washington Medal, 1976, struck in platinum by Medallic Art Company. In 1980 the United States Mint introduced a series of bullion medals, “America Arts Gold Medals.” Issued in two weights – full ounce and half ounce – each bore the portrait of a notable American artist. The series continued for four years, but ceased for lack of demand. Buyers of coined bullion items, it was learned, preferred those with a denomination, in effect bullion coins, despite the fact the denomination had little relationship to the value of the item’s precious metal content.  See adillion, a bullion medal of Israel.
  Bullion Strike.  A numismatic item struck in a coining press for its bullion content rather than for any other purpose, as a coin or medal. All bullion coins and medals are bullion strikes. The term is employed to contrast these items from regular issues, BUSINESS STRIKES or from proof surface items struck for collectors.
  CLASS 01
  1070-(015)12.2

  excerpted with permission from

  An Encyclopedia of Coin and Medal Technology

  For Artists, Makers, Collectors and Curators

  COMPILED AND WRITTEN BY D. WAYNE JOHNSON

  Roger W. Burdette, Editor

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