A good or instrument that is not traded in a qualifying market (e.g. Boston Stock Exchange) and is not easily marketable; i.e. it is not freely bought or sold as a security. It has a value, but it may be not quickly converted into cash in a short period of time and does not necessarily carry the backing of an underwriter or bank.Examples of securities are stocks, bonds and Treasury notes. Non-securities include paintings, precious metals and stones like gold or diamonds, and bank guarantees.