Precious metals such as gold, silver, platinum, and palladium come in a variety of forms. If you speak with a precious metals dealer, they may refer to bars, bullion, and coins interchangeably, but there are some differences between them.

1. Bullion: bullion is a term used to describe any form of pure metal that is traded in bulk, and includes bars, coins and rounds. The term “bullion” is used to describe the weight and purity of the metal, rather than the form it takes.
2. Bars: bars are rectangular-shaped bars of the precious metal with a specific weight and purity. Bars may come in assorted sizes and weights, typically ranging from 1 gram to 1 kilogram or more. Precious metals bars are often the preferred investment option for those who want to invest in large quantities. They are typically produced by refineries or mints, and the price of a bar is based on their weight and purity. Example of a Platinum bar.
3. Coins: coins are typically smaller in size and weight than bars and are often minted by government mints. Coins can be bought in different sizes, ranging from 1/10 of an ounce to 1 ounce or more. Coins are often sought after by collectors, as they can have historical or cultural significance. The value of coins is typically based on the weight of the metal they contain, as well as their rarity and condition. Example of a Gold coin.
4. Rounds: rounds are a form of bullion that are similar to coins but are not legal tender. Rounds are produced by private mints. They are often less expensive than coins and are a popular choice for investors who want to acquire gold or silver at a lower cost. Rounds can be produced with unique designs and themes, which can make them more interesting to collectors, but they can also be more difficult to sell than coins because they are not recognized as legal tender. Example of a Silver round.

In summary, bars, bullion, and coins are all ways to invest in precious metals, but they differ in terms of size, weight, and purity. Bars are typically preferred by those who desire to invest in large quantities of gold, while coins are often sought after by collectors and rounds for investors looking for a lower cost. Bullion is a term used to describe any form of precious that is traded in bulk, regardless of its form.