Bullion

Bullion [fr. billon, Fr., copper], uncoined gold and silver in the mass. Those metals are called so, either when smelted from the native ore, and not perfectly refined; or when they are perfectly refined, but melted down into bars or ingots, or into any unwrought body, of any degree of fineness. As to the purchase of bullion for the Mint, see (English) Coinage Act, 1870 (33 & 34 Vict. c. 10), s. 9, which provides that the Treasury may, from time to time, issue to the Master of the Mint such sums as may be necessary to enable him to purchase bullion to provide supplies of coin for the public service. As to the weights used in sales of bullion, see Weights and Measures Act, 1878, replacing 16 & 17 Vict. c. 29. See CURRENCY AND BANK NOTES ACT.Means gold or silver in the mass. It connotes gold or Silver regarded as raw material and it may be either in the form of raw gold or silver or ingots or bars of gold or silver, Deputy Commissioner Sales Tax (Board of Revenue) v. G.S. Pai, AIR 1980 S...

Bullion and specie

Bullion and specie, Gold ornaments and other articles of gold are not bullion and specie, C.S.T. v. N.P. Ammalu, (1983) 2 SCC 79: AIR 1983 SC 493....

Gold

Gold. As to the duty of the Bank of England under the Coinage Act, 1870 (33 & 34 Vict. c. 10), s. 8, to coin gold bullion for any person bringing the same for that purpose, which was suspended by the Gold Standard Act, 1925 (15 & 16 Geo. 5, c. 29); and the Bank's duty during the period of suspense, to sell gold bullion in bars containing approximately 400 ounces troy of fine gold to any purchaser paying '3 17s. 10'd. per ounce troy of fine gold, see those Acts, and CURRENCY ACT. The right to purchase gold provided by the Act of 1925 was suspended by the Gold Standard (Amendment) Act, 1931 (21 & 22 Geo. 5, c. 46) (see BULLION). As to standards and marking of gold plate and gold ware, see Safford, 'Law of Merchandise Acts.'A promise to repay a loan or other obligation in terms of 'gold' depends for its performance on the law of the country governing the performance at the time of performance, see Feist v. Societe Inter-communale Belge d' Electricite, 1934, AC 161.It includes gold in the ...

Seigniorage

Something claimed or taken by virtue of sovereign prerogative specifically a charge or toll deducted from bullion brought to a mint to be coined the difference between the cost of a mass of bullion and the value as money of the pieces coined from it...

Seigniorage

Seigniorage, a royalty or prerogative of the Crown, whereby an allowance of gold and silver, brought in the mass to be exchanged for coin, is claimed.Seigniorage, has two distinct meanings (i) profit made by a Government by issuing currency, the Crown's right to charge a percentage on bullion brought to a mint for coining; and (ii) something claimed by a monarch or feudal lord as a prerogative, Divisional Forest Officer v. Tata Finlay Ltd., AIR 2001 SC 2672. [See Kerala Grants and Leases (Modifications of Rights) Act (16 of 1980), s. 4]Means profit made by a Government by issuing currency; the difference or margin between the face value of coins and their production costs; the crown's right to charge a percentage on bullion brought to a mint for coining; the amount charged, something claimed by a monaonch or feudal lord as a prerogative, Divisional Forest Officer v. Tata Finlay Ltd., (2001) 5 SCC 684....

treasure trove

treasure trove : treasure that anyone finds ;specif : gold or silver in the form of money, plate, or bullion that is found hidden and whose ownership is not known NOTE: State law determines who is entitled to a treasure trove. ...

Billot

Bullion in the bar or mass...

Bullion

Uncoined gold or silver in the mass...

Free coinage

In the fullest sense the conversion of bullion of any specified metal into legal tender coins for any person who chooses to bring it to the mint in a modified sense such coinage when done at a fixed charge proportionate to the cost of the operation...

Argentum album

Argentum album, white money, silver coin, or pieces of bullion which anciently passed for money, Spelm....

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