BULLION. The term bullion is com monly applied to uncoiued gold and silver, in the mass or lump.
Z. It includes,first, grains of gold, whether large or small, the former being called lumps, or nuggets, the latter, gold dust; second, amalgams, in which quicksilver has been used as an agent to collect or segregate the metals ; silver thus collected, and from which the quicksilver has been expelled by pressure and heat, is called plata pura; third, bars and cakes ; fourth, plate, in which is included all articles for household purposes made of gold or silver ; fifth, jew elry, or personal ornaments, composed of gold. or silver, or both. The term bullion, also in cludes—sixth, foreign coins; for, as foreign coins are not a legal tender, or, in other words, not money, it follows, that they are only pieces or lumps of gold or silver at the mint. Such coins, when received on deposit, are treated as other deposits of gold or silver: they are weighed, and their fineness is ascer tained by assay, and their value determined by their weight and fineness.
3. When bullion is brought to the mint for coinage, it is weighed by the treasurer, in the presence of the depositor when prac ticable, and a receipt given, which states the description and weight of the bullion. And from every parcel of bullion deposited for coinage a sufficient portion is delivered to the assayer, which officer, after making an analysis or assay of the metal, reports the quality or fineness of the bullion ; and ,from the of the assayer and the weight of the bullion the treasurer estimates the whole value of the deposit,—also, the amount of charges or deductions, if any ; of all which he gives a detailed statement to the depositor, and a certificate of the net value of the de posit, to be paid in coins of the same species of bullion as that deposited. When the coins
which are the equivalent of any deposit of bullion are ready for delivery, they are .paid to the depositor or his order by the treasurer, on a warrant from the director ; and the payments shall be made, if demanded, in the order in which the bullion shall have been brought to the mint, giving priority accord ' ing to priority of deposit only ; and in the de nomination of coins delivered, the treasurer shall comply with the wishes of the dePo sitor, unless when impracticable or incon• venient to do so; in which case the denomi nation shall be designated- by the director Act of Congress, Jan. 18, 1837, secs. 15, 16, 17, 19, and 30. See 5 U. S. Stat. at Large, es. 138, 139, 140. Applied to branch mints at New Orleans, Charlotte, and Dahlonega, by act of March 3, 1835, sec. 5, 4 U. S. Stat. at Large, 775; and to branch mint at San Fran cisco by act of July 3, 1852,i 5, see 10 U. S. Stat. at Large, 12; and to assay office at New York act of March 3, 1853, a 11 and 13, 10 U. S. Stat. at Large, 212. For refining of gold bullion at the mint and its branches, see act of January 18, 1837, 18, 5 U. S. Stat. Itt Large, 139, and act of March 3, 1853, 5, 10 U. S. Stat. at Large, 212. As to the assay of bullion not intended for coinage, see act May 19, 1828, 4 U. S. Stat. at Large, 278.