page_title: Bullion coin
section_title: Gold
hierarchical_section_title: Bullion coin / Gold
caption_attribution_description: English: "The Madaba Map and in the background, one of the Cardo pillars. In the upper border is the inscription “Jerusalem” in English, Hebrew and Arabic, upper right, is the face value "20 New Shekels" and mint year in Hebrew and English. Below is the Star of David mint mark and around the lower border is the metal fineness and weight, “1 oz. fine gold .9999” in Hebrew and English."
context_page_description: A bullion coin is a coin struck from precious metal and kept as a store of value or an investment rather than used in day-to-day commerce. A bullion coin is distinguished by an explicit statement of weight and fineness on the coin; this is because the weight and composition of coins intended for legal tender is specified in the coinage laws of the issuing nation, and therefore there is no need for an explicit statement on the coins themselves. The United Kingdom defines investment coins more specifically as coins that have been minted after 1800, have a purity of not less than 900 thousandths and are, or have been, legal tender in their country of origin. Under United States law, "coins" that fail the last of these requirements are not coins at all, and must be advertised as "rounds" instead. The American Eagle and Canadian Gold Maple Leaf series are the only coins available in gold, silver, platinum, and palladium.
  Bullion coins are typically available in various weights. These are usually multiples or fractions of 1 troy ounce, but some bullion coins are produced in very limited quantities in kilograms or heavier.
context_section_description: The largest demand for gold in the world is jewelry, which consumes 50% of world production. Industry uses 9%, coins use 10% and the rest is for investments. Starting in 1821, with Britain moving to the gold standard, countries' monetary unit became associated with the value of circulating gold or stored gold bullion, but not both. During this time, gold coins were circulated for general use. During the early years of the Great Depression, nations abandoned the gold standard and most gold coins were no longer minted. The South African Kruggerand became the first modern coin minted in 1967 to help market South African gold produced by Rand Refinery and the South African Mint. By 1980, the Krugerrand accounted for 90% of the global gold coin production.
caption: Reverse of a 2018 Israeli Jerusalem Gold
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