Which of the following is an example of fiat money?

Fiat money is a type of currency that is issued by a government and has value primarily because the government maintains it and people trust it, rather than it being backed by a physical commodity like gold or silver. US currency, such as the dollar, is considered fiat money because it is not backed by a physical asset; instead, its value comes from the trust and confidence that people place in the U.S. government and its economy.

The other options represent forms of money that are not classified as fiat. Gold bullion and silver coins are both precious metals with inherent value based on their material properties and scarcity. Bitcoin, while widely known as a cryptocurrency, operates on a decentralized basis and does not rely on government backing, thus it does not fit the definition of fiat money. In summary, US currency exemplifies fiat money due to its government backing and reliance on public trust rather than physical asset value.