This bill exempts from sales and use tax the sale of all bullion that is:
(1) Manufactured in whole or in part from gold, silver, platinum, palladium, or other material;
(2) Used solely as legal tender, security, or commodity in this or another state, the United States, or a foreign nation; and
(3) Sold based on its intrinsic value as precious material or a collectible item rather than their representative value as a medium of exchange.