What’s the difference between gold bars, ingots and bullion?
A . “Bullion is money in the form of bars, coin, wafer or ingots,” according to William Youngerman Inc.’s Web site, www.goldcoinsdealer.com. Bullion is made of precious metal – not necessarily gold – and often minted with 10,000 or fewer coins. Many people think a coin must be issued by a country as legal tender for it to be classified as genuine bullion, the Web site says. But that isn’t the basis for their value. “They are designed to be bought and sold based on their metal content, not their face value, as a way for people to own gold or other precious metals (as an alternative to ‘gold bars’ and ingots),” the Web site says. Gold bars carry a serial number and a stamp identifying the company that refined them and certifying weight and purity. “Gold ingots are basically gold bars that are cast from a mold rather than stamped like a gold coin,” according to GoldPrice.org. “They tend to be rougher and thicker than stamped bars. …” Q. How do you make money off gold? A. If you own a gold
