Bullion
Gold and silver of officially recognized quality in the form of bars rather than coins.
Such bars are valued by weight as merchandise rather than by value as coinage.
Gold has in the past been held as an investment in times of crisis. It has traditionally been seen as a great hedge against inflation , stockmarket crashes or currency devaluations.
Some of the benefits of gold, e.g. hedging against inflation and stockmarket crashes can now be done by using derivatives.