'Gold Bullion Standard refers to:

 a) gold coin as an unlimited legal tender
 b) gold as the measure of value
 c) free coinage of gold
 d) no restriction on import and export of gold
SSC-2015

gold as the measure of value.
The gold bullion standard is a system in which gold coins do not circulate, but the authorities agree to sell gold bullion on demand at a fixed price in exchange for the circulating currency.
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