Silver bullion refers to a silver product valued by and sold mostly for its metal content and does not contain any numismatic or collectible value. Silver bullion often appears in the form of bars, rounds, and sovereign coins that carry a face value and are backed by a government. These products are most commonly categorized, therefore, as either .999 fine or .9999 fine silver bullion, meaning the product is either 99.9% or 99.99% pure silver.
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