diff --git a/Cargo.toml b/Cargo.toml
index f3f0139a..d0ff6f78 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -25,6 +25,7 @@ blake2b_simd = "0.5"
 ff = "0.9"
 fpe = "0.4"
 group = "0.9"
+proptest = { version = "1.0.0", optional = true }
 rand = "0.8"
 rand_7 = { package = "rand", version = "0.7" }
 nonempty = "0.6"
@@ -50,6 +51,9 @@ proptest = "1.0.0"
 [lib]
 bench = false
 
+[features]
+test-dependencies = ["proptest"]
+
 [[bench]]
 name = "small"
 harness = false
diff --git a/src/address.rs b/src/address.rs
index 96328985..69543d12 100644
--- a/src/address.rs
+++ b/src/address.rs
@@ -15,7 +15,7 @@ use crate::{
 /// let sk = SpendingKey::from_bytes([7; 32]).unwrap();
 /// let address = FullViewingKey::from(&sk).default_address();
 /// ```
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct Address {
     d: Diversifier,
     pk_d: DiversifiedTransmissionKey,
@@ -38,3 +38,21 @@ impl Address {
         &self.pk_d
     }
 }
+
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use proptest::prelude::*;
+
+    use crate::keys::{testing::arb_spending_key, FullViewingKey};
+
+    use super::Address;
+
+    prop_compose! {
+        /// Generates an arbitrary payment address.
+        pub(crate) fn arb_address()(sk in arb_spending_key()) -> Address {
+            let fvk = FullViewingKey::from(&sk);
+            fvk.default_address()
+        }
+    }
+}
diff --git a/src/builder.rs b/src/builder.rs
index 88a86868..0ea87a63 100644
--- a/src/builder.rs
+++ b/src/builder.rs
@@ -1,5 +1,6 @@
 //! Logic for building Orchard components of transactions.
 
+use std::convert::TryFrom;
 use std::iter;
 
 use ff::Field;
@@ -8,23 +9,29 @@ use pasta_curves::pallas;
 use rand::RngCore;
 
 use crate::{
+    address::Address,
     bundle::{Action, Authorization, Authorized, Bundle, Flags},
     circuit::{Circuit, Proof, ProvingKey},
     keys::{
         FullViewingKey, OutgoingViewingKey, SpendAuthorizingKey, SpendValidatingKey, SpendingKey,
     },
+    note::{Note, TransmittedNoteCiphertext},
     primitives::redpallas::{self, Binding, SpendAuth},
     tree::{Anchor, MerklePath},
-    value::{self, NoteValue, ValueCommitTrapdoor, ValueCommitment, ValueSum},
-    Address, EncryptedNote, Note,
+    value::{self, NoteValue, OverflowError, ValueCommitTrapdoor, ValueCommitment, ValueSum},
 };
 
 const MIN_ACTIONS: usize = 2;
 
+/// An error type for the kinds of errors that can occur during bundle construction.
 #[derive(Debug)]
 pub enum Error {
+    /// A bundle could not be built because required signatures were missing.
     MissingSignatures,
+    /// An error occurred in the process of producing a proof for a bundle.
     Proof(halo2::plonk::Error),
+    /// An overflow error occurred while attempting to construct the value
+    /// for a bundle.
     ValueSum(value::OverflowError),
 }
 
@@ -110,7 +117,7 @@ impl ActionInfo {
     }
 
     /// Returns the value sum for this action.
-    fn value_sum(&self) -> Result<ValueSum, value::OverflowError> {
+    fn value_sum(&self) -> Option<ValueSum> {
         self.spend.note.value() - self.output.value
     }
 
@@ -137,7 +144,11 @@ impl ActionInfo {
         let cm_new = note.commitment();
 
         // TODO: Note encryption
-        let encrypted_note = EncryptedNote;
+        let encrypted_note = TransmittedNoteCiphertext {
+            epk_bytes: [0u8; 32],
+            enc_ciphertext: [0u8; 580],
+            out_ciphertext: [0u8; 80],
+        };
 
         (
             Action::from_parts(
@@ -158,6 +169,7 @@ impl ActionInfo {
 
 /// A builder that constructs a [`Bundle`] from a set of notes to be spent, and recipients
 /// to receive funds.
+#[derive(Debug)]
 pub struct Builder {
     spends: Vec<SpendInfo>,
     recipients: Vec<RecipientInfo>,
@@ -166,6 +178,7 @@ pub struct Builder {
 }
 
 impl Builder {
+    /// Constructs a new empty builder for an Orchard bundle.
     pub fn new(flags: Flags, anchor: Anchor) -> Self {
         Builder {
             spends: vec![],
@@ -233,11 +246,11 @@ impl Builder {
     ///
     /// This API assumes that none of the notes being spent are controlled by (threshold)
     /// multisignatures, and immediately constructs the bundle proof.
-    fn build(
+    fn build<V: TryFrom<i64>>(
         mut self,
         mut rng: impl RngCore,
         pk: &ProvingKey,
-    ) -> Result<Bundle<Unauthorized>, Error> {
+    ) -> Result<Bundle<Unauthorized, V>, Error> {
         // Pair up the spends and recipients, extending with dummy values as necessary.
         //
         // TODO: Do we want to shuffle the order like we do for Sapling? And if we do, do
@@ -272,11 +285,16 @@ impl Builder {
         let anchor = self.anchor;
 
         // Determine the value balance for this bundle, ensuring it is valid.
-        let value_balance: ValueSum = pre_actions
+        let value_balance = pre_actions
             .iter()
-            .fold(Ok(ValueSum::zero()), |acc, action| {
+            .fold(Some(ValueSum::zero()), |acc, action| {
                 acc? + action.value_sum()?
-            })?;
+            })
+            .ok_or(OverflowError)?;
+
+        let result_value_balance: V = i64::try_from(value_balance)
+            .map_err(Error::ValueSum)
+            .and_then(|i| V::try_from(i).map_err(|_| Error::ValueSum(value::OverflowError)))?;
 
         // Compute the transaction binding signing key.
         let bsk = pre_actions
@@ -305,7 +323,7 @@ impl Builder {
         Ok(Bundle::from_parts(
             NonEmpty::from_vec(actions).unwrap(),
             flags,
-            value_balance,
+            result_value_balance,
             anchor,
             Unauthorized { proof, bsk },
         ))
@@ -349,7 +367,7 @@ impl Authorization for PartiallyAuthorized {
     type SpendAuth = (Option<redpallas::Signature<SpendAuth>>, SpendValidatingKey);
 }
 
-impl Bundle<Unauthorized> {
+impl<V> Bundle<Unauthorized, V> {
     /// Loads the sighash into this bundle, preparing it for signing.
     ///
     /// This API ensures that all signatures are created over the same sighash.
@@ -357,7 +375,7 @@ impl Bundle<Unauthorized> {
         self,
         mut rng: R,
         sighash: [u8; 32],
-    ) -> Bundle<PartiallyAuthorized> {
+    ) -> Bundle<PartiallyAuthorized, V> {
         self.authorize(
             &mut rng,
             |rng, _, SigningMetadata { dummy_ask, ak }| {
@@ -381,7 +399,7 @@ impl Bundle<Unauthorized> {
         mut rng: R,
         sighash: [u8; 32],
         signing_keys: &[SpendAuthorizingKey],
-    ) -> Result<Bundle<Authorized>, Error> {
+    ) -> Result<Bundle<Authorized, V>, Error> {
         signing_keys
             .iter()
             .fold(self.prepare(&mut rng, sighash), |partial, ask| {
@@ -391,7 +409,7 @@ impl Bundle<Unauthorized> {
     }
 }
 
-impl Bundle<PartiallyAuthorized> {
+impl<V> Bundle<PartiallyAuthorized, V> {
     /// Signs this bundle with the given [`SpendAuthorizingKey`].
     ///
     /// This will apply signatures for all notes controlled by this spending key.
@@ -422,7 +440,7 @@ impl Bundle<PartiallyAuthorized> {
     /// Finalizes this bundle, enabling it to be included in a transaction.
     ///
     /// Returns an error if any signatures are missing.
-    pub fn finalize(self) -> Result<Bundle<Authorized>, Error> {
+    pub fn finalize(self) -> Result<Bundle<Authorized, V>, Error> {
         self.try_authorize(
             &mut (),
             |_, _, (sig, _)| match sig {
@@ -439,17 +457,139 @@ impl Bundle<PartiallyAuthorized> {
     }
 }
 
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use rand::{rngs::StdRng, CryptoRng, SeedableRng};
+    use std::convert::TryFrom;
+    use std::fmt::Debug;
+
+    use proptest::collection::vec;
+    use proptest::prelude::*;
+
+    use crate::{
+        address::testing::arb_address,
+        bundle::{Authorized, Bundle, Flags},
+        circuit::ProvingKey,
+        keys::{
+            testing::arb_spending_key, FullViewingKey, OutgoingViewingKey, SpendAuthorizingKey,
+            SpendingKey,
+        },
+        note::testing::arb_note,
+        tree::{Anchor, MerklePath},
+        value::{testing::arb_positive_note_value, NoteValue, MAX_NOTE_VALUE},
+        Address, Note,
+    };
+
+    use super::Builder;
+
+    /// An intermediate type used for construction of arbitrary
+    /// bundle values. This type is required because of a limitation
+    /// of the proptest prop_compose! macro which does not correctly
+    /// handle polymorphic generator functions. Instead of generating
+    /// a bundle directly, we generate the bundle inputs, and then
+    /// are able to use the `build` function to construct the bundle
+    /// from these inputs, but using a `ValueBalance` implementation that
+    /// is defined by the end user.
+    #[derive(Debug)]
+    struct ArbitraryBundleInputs<R, R7> {
+        rng: R,
+        rng_7: R7,
+        sk: SpendingKey,
+        anchor: Anchor,
+        notes: Vec<Note>,
+        recipient_amounts: Vec<(Address, NoteValue)>,
+    }
+
+    impl<R: RngCore + CryptoRng, R7: rand_7::RngCore + rand_7::CryptoRng> ArbitraryBundleInputs<R, R7> {
+        /// Create a bundle from the set of arbitrary bundle inputs.
+        fn into_bundle<V: TryFrom<i64>>(mut self) -> Bundle<Authorized, V> {
+            let fvk = FullViewingKey::from(&self.sk);
+            let ovk = OutgoingViewingKey::from(&fvk);
+            let flags = Flags::from_parts(true, true);
+            let mut builder = Builder::new(flags, self.anchor);
+
+            for note in self.notes.into_iter() {
+                builder.add_spend(fvk.clone(), note, MerklePath).unwrap();
+            }
+
+            for (addr, value) in self.recipient_amounts.into_iter() {
+                builder
+                    .add_recipient(Some(ovk.clone()), addr, value, None)
+                    .unwrap();
+            }
+
+            let pk = ProvingKey::build();
+            builder
+                .build(&mut self.rng, &pk)
+                .unwrap()
+                .prepare(&mut self.rng_7, [0; 32])
+                .sign(&mut self.rng_7, &SpendAuthorizingKey::from(&self.sk))
+                .finalize()
+                .unwrap()
+        }
+    }
+
+    prop_compose! {
+        /// Produce a random valid Orchard bundle.
+        fn arb_bundle_inputs(sk: SpendingKey)
+        (
+            n_notes in 1..30,
+            n_recipients in 1..30,
+        )
+        (
+            anchor in prop::array::uniform32(prop::num::u8::ANY).prop_map(Anchor),
+            // generate note values that we're certain won't exceed MAX_NOTE_VALUE in total
+            notes in vec(
+                arb_positive_note_value(MAX_NOTE_VALUE / n_notes as u64).prop_flat_map(arb_note),
+                n_notes as usize
+            ),
+            recipient_amounts in vec(
+                arb_address().prop_flat_map(move |a| {
+                    arb_positive_note_value(MAX_NOTE_VALUE / n_recipients as u64)
+                        .prop_map(move |v| (a.clone(), v))
+                }),
+                n_recipients as usize
+            ),
+            rng_seed in prop::array::uniform32(prop::num::u8::ANY)
+        ) -> ArbitraryBundleInputs<StdRng, rand_7::rngs::StdRng> {
+            ArbitraryBundleInputs {
+                rng: StdRng::from_seed(rng_seed),
+                rng_7: <rand_7::rngs::StdRng as rand_7::SeedableRng>::from_seed(rng_seed),
+                sk: sk.clone(),
+                anchor,
+                notes,
+                recipient_amounts
+            }
+        }
+    }
+
+    /// Produce an arbitrary valid Orchard bundle using a random spending key.
+    pub fn arb_bundle<V: TryFrom<i64> + Debug>() -> impl Strategy<Value = Bundle<Authorized, V>> {
+        arb_spending_key()
+            .prop_flat_map(arb_bundle_inputs)
+            .prop_map(|inputs| inputs.into_bundle::<V>())
+    }
+
+    /// Produce an arbitrary valid Orchard bundle using a specified spending key.
+    pub fn arb_bundle_with_key<V: TryFrom<i64> + Debug>(
+        k: SpendingKey,
+    ) -> impl Strategy<Value = Bundle<Authorized, V>> {
+        arb_bundle_inputs(k).prop_map(|inputs| inputs.into_bundle::<V>())
+    }
+}
+
 #[cfg(test)]
 mod tests {
     use rand::rngs::OsRng;
 
     use super::Builder;
     use crate::{
-        bundle::Flags,
+        bundle::{Authorized, Bundle, Flags},
         circuit::ProvingKey,
         keys::{FullViewingKey, SpendingKey},
         tree::Anchor,
-        value::{NoteValue, ValueSum},
+        value::NoteValue,
     };
 
     #[test]
@@ -461,16 +601,16 @@ mod tests {
         let fvk = FullViewingKey::from(&sk);
         let recipient = fvk.default_address();
 
-        let mut builder = Builder::new(Flags::from_parts(true, true), Anchor);
+        let mut builder = Builder::new(Flags::from_parts(true, true), Anchor([0; 32]));
         builder
             .add_recipient(None, recipient, NoteValue::from_raw(5000), None)
             .unwrap();
-        let bundle = dbg!(builder
+        let bundle: Bundle<Authorized, i64> = dbg!(builder
             .build(&mut rng, &pk)
             .unwrap()
             .prepare(rand_7::rngs::OsRng, [0; 32]))
         .finalize()
         .unwrap();
-        assert_eq!(bundle.value_balance(), &ValueSum::from_raw(-5000))
+        assert_eq!(bundle.value_balance(), &(-5000))
     }
 }
diff --git a/src/bundle.rs b/src/bundle.rs
index 37254e3b..a0c717de 100644
--- a/src/bundle.rs
+++ b/src/bundle.rs
@@ -4,10 +4,10 @@ use nonempty::NonEmpty;
 
 use crate::{
     circuit::{Instance, Proof},
-    note::{EncryptedNote, ExtractedNoteCommitment, Nullifier},
+    note::{ExtractedNoteCommitment, Nullifier, TransmittedNoteCiphertext},
     primitives::redpallas::{self, Binding, SpendAuth},
     tree::Anchor,
-    value::{ValueCommitment, ValueSum},
+    value::ValueCommitment,
 };
 
 /// An action applied to the global ledger.
@@ -19,19 +19,19 @@ use crate::{
 /// Internally, this may both consume a note and create a note, or it may do only one of
 /// the two. TODO: Determine which is more efficient (circuit size vs bundle size).
 #[derive(Debug)]
-pub struct Action<T> {
+pub struct Action<A> {
     /// The nullifier of the note being spent.
     nf: Nullifier,
     /// The randomized verification key for the note being spent.
     rk: redpallas::VerificationKey<SpendAuth>,
     /// A commitment to the new note being created.
     cmx: ExtractedNoteCommitment,
-    /// The encrypted output note.
-    encrypted_note: EncryptedNote,
+    /// The transmitted note ciphertext.
+    encrypted_note: TransmittedNoteCiphertext,
     /// A commitment to the net value created or consumed by this action.
     cv_net: ValueCommitment,
     /// The authorization for this action.
-    authorization: T,
+    authorization: A,
 }
 
 impl<T> Action<T> {
@@ -40,7 +40,7 @@ impl<T> Action<T> {
         nf: Nullifier,
         rk: redpallas::VerificationKey<SpendAuth>,
         cmx: ExtractedNoteCommitment,
-        encrypted_note: EncryptedNote,
+        encrypted_note: TransmittedNoteCiphertext,
         cv_net: ValueCommitment,
         authorization: T,
     ) -> Self {
@@ -70,7 +70,7 @@ impl<T> Action<T> {
     }
 
     /// Returns the encrypted note ciphertext.
-    pub fn encrypted_note(&self) -> &EncryptedNote {
+    pub fn encrypted_note(&self) -> &TransmittedNoteCiphertext {
         &self.encrypted_note
     }
 
@@ -174,7 +174,7 @@ pub trait Authorization {
 
 /// A bundle of actions to be applied to the ledger.
 #[derive(Debug)]
-pub struct Bundle<T: Authorization> {
+pub struct Bundle<T: Authorization, V> {
     /// The list of actions that make up this bundle.
     actions: NonEmpty<Action<T::SpendAuth>>,
     /// Orchard-specific transaction-level flags for this bundle.
@@ -182,19 +182,19 @@ pub struct Bundle<T: Authorization> {
     /// The net value moved out of the Orchard shielded pool.
     ///
     /// This is the sum of Orchard spends minus the sum of Orchard outputs.
-    value_balance: ValueSum,
+    value_balance: V,
     /// The root of the Orchard commitment tree that this bundle commits to.
     anchor: Anchor,
     /// The authorization for this bundle.
     authorization: T,
 }
 
-impl<T: Authorization> Bundle<T> {
+impl<T: Authorization, V> Bundle<T, V> {
     /// Constructs a `Bundle` from its constituent parts.
     pub fn from_parts(
         actions: NonEmpty<Action<T::SpendAuth>>,
         flags: Flags,
-        value_balance: ValueSum,
+        value_balance: V,
         anchor: Anchor,
         authorization: T,
     ) -> Self {
@@ -220,7 +220,7 @@ impl<T: Authorization> Bundle<T> {
     /// Returns the net value moved into or out of the Orchard shielded pool.
     ///
     /// This is the sum of Orchard spends minus the sum Orchard outputs.
-    pub fn value_balance(&self) -> &ValueSum {
+    pub fn value_balance(&self) -> &V {
         &self.value_balance
     }
 
@@ -242,13 +242,28 @@ impl<T: Authorization> Bundle<T> {
         todo!()
     }
 
+    /// Construct a new bundle by applying a transformation that might fail
+    /// to the value balance.
+    pub fn try_map_value_balance<V0, E, F: FnOnce(V) -> Result<V0, E>>(
+        self,
+        f: F,
+    ) -> Result<Bundle<T, V0>, E> {
+        Ok(Bundle {
+            actions: self.actions,
+            flags: self.flags,
+            value_balance: f(self.value_balance)?,
+            anchor: self.anchor,
+            authorization: self.authorization,
+        })
+    }
+
     /// Transitions this bundle from one authorization state to another.
     pub fn authorize<R, U: Authorization>(
         self,
         context: &mut R,
         mut spend_auth: impl FnMut(&mut R, &T, T::SpendAuth) -> U::SpendAuth,
         step: impl FnOnce(&mut R, T) -> U,
-    ) -> Bundle<U> {
+    ) -> Bundle<U, V> {
         let authorization = self.authorization;
         Bundle {
             actions: self
@@ -267,7 +282,7 @@ impl<T: Authorization> Bundle<T> {
         context: &mut R,
         mut spend_auth: impl FnMut(&mut R, &T, T::SpendAuth) -> Result<U::SpendAuth, E>,
         step: impl FnOnce(&mut R, T) -> Result<U, E>,
-    ) -> Result<Bundle<U>, E> {
+    ) -> Result<Bundle<U, V>, E> {
         let authorization = self.authorization;
         let new_actions = self
             .actions
@@ -304,9 +319,19 @@ impl Authorized {
             binding_signature,
         }
     }
+
+    /// Return the proof component of the authorizing data.
+    pub fn proof(&self) -> &Proof {
+        &self.proof
+    }
+
+    /// Return the binding signature.
+    pub fn binding_signature(&self) -> &redpallas::Signature<Binding> {
+        &self.binding_signature
+    }
 }
 
-impl Bundle<Authorized> {
+impl<V> Bundle<Authorized, V> {
     /// Computes a commitment to the authorizing data within for this bundle.
     ///
     /// This together with `Bundle::commitment` bind the entire bundle.
@@ -325,3 +350,224 @@ pub struct BundleCommitment;
 /// A commitment to the authorizing data within a bundle of actions.
 #[derive(Debug)]
 pub struct BundleAuthorizingCommitment;
+
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use nonempty::NonEmpty;
+    use rand_7::{rngs::StdRng, SeedableRng};
+    use reddsa::orchard::SpendAuth;
+
+    use proptest::collection::vec;
+    use proptest::prelude::*;
+
+    use crate::{
+        circuit::Proof,
+        note::{
+            commitment::ExtractedNoteCommitment, nullifier::testing::arb_nullifier,
+            testing::arb_note, TransmittedNoteCiphertext,
+        },
+        primitives::redpallas::{
+            self,
+            testing::{
+                arb_binding_signing_key, arb_spendauth_signing_key, arb_spendauth_verification_key,
+            },
+        },
+        value::{
+            testing::arb_note_value_bounded, NoteValue, ValueCommitTrapdoor, ValueCommitment,
+            ValueSum, MAX_NOTE_VALUE,
+        },
+        Anchor,
+    };
+
+    use super::{Action, Authorization, Authorized, Bundle, Flags};
+
+    /// Marker for an unauthorized bundle with no proofs or signatures.
+    #[derive(Debug)]
+    pub struct Unauthorized;
+
+    impl Authorization for Unauthorized {
+        type SpendAuth = ();
+    }
+
+    prop_compose! {
+        /// Generate an action without authorization data.
+        pub fn arb_unauthorized_action(spend_value: NoteValue, output_value: NoteValue)(
+            nf in arb_nullifier(),
+            rk in arb_spendauth_verification_key(),
+            note in arb_note(output_value),
+        ) -> Action<()> {
+            let cmx = ExtractedNoteCommitment::from(note.commitment());
+            let cv_net = ValueCommitment::derive(
+                (spend_value - output_value).unwrap(),
+                ValueCommitTrapdoor::zero()
+            );
+            // FIXME: make a real one from the note.
+            let encrypted_note = TransmittedNoteCiphertext {
+                epk_bytes: [0u8; 32],
+                enc_ciphertext: [0u8; 580],
+                out_ciphertext: [0u8; 80]
+            };
+            Action {
+                nf,
+                rk,
+                cmx,
+                encrypted_note,
+                cv_net,
+                authorization: ()
+            }
+        }
+    }
+
+    /// Generate an unauthorized action having spend and output values less than MAX_NOTE_VALUE / n_actions.
+    pub fn arb_unauthorized_action_n(
+        n_actions: usize,
+        flags: Flags,
+    ) -> impl Strategy<Value = (ValueSum, Action<()>)> {
+        let spend_value_gen = if flags.spends_enabled {
+            Strategy::boxed(arb_note_value_bounded(MAX_NOTE_VALUE / n_actions as u64))
+        } else {
+            Strategy::boxed(Just(NoteValue::zero()))
+        };
+
+        spend_value_gen.prop_flat_map(move |spend_value| {
+            let output_value_gen = if flags.outputs_enabled {
+                Strategy::boxed(arb_note_value_bounded(MAX_NOTE_VALUE / n_actions as u64))
+            } else {
+                Strategy::boxed(Just(NoteValue::zero()))
+            };
+
+            output_value_gen.prop_flat_map(move |output_value| {
+                arb_unauthorized_action(spend_value, output_value)
+                    .prop_map(move |a| ((spend_value - output_value).unwrap(), a))
+            })
+        })
+    }
+
+    prop_compose! {
+        /// Generate an action with invalid (random) authorization data.
+        pub fn arb_action(spend_value: NoteValue, output_value: NoteValue)(
+            nf in arb_nullifier(),
+            sk in arb_spendauth_signing_key(),
+            note in arb_note(output_value),
+            rng_seed in prop::array::uniform32(prop::num::u8::ANY),
+            fake_sighash in prop::array::uniform32(prop::num::u8::ANY),
+        ) -> Action<redpallas::Signature<SpendAuth>> {
+            let cmx = ExtractedNoteCommitment::from(note.commitment());
+            let cv_net = ValueCommitment::derive(
+                (spend_value - output_value).unwrap(),
+                ValueCommitTrapdoor::zero()
+            );
+
+            // FIXME: make a real one from the note.
+            let encrypted_note = TransmittedNoteCiphertext {
+                epk_bytes: [0u8; 32],
+                enc_ciphertext: [0u8; 580],
+                out_ciphertext: [0u8; 80]
+            };
+
+            let rng = StdRng::from_seed(rng_seed);
+
+            Action {
+                nf,
+                rk: redpallas::VerificationKey::from(&sk),
+                cmx,
+                encrypted_note,
+                cv_net,
+                authorization: sk.sign(rng, &fake_sighash),
+            }
+        }
+    }
+
+    /// Generate an authorized action having spend and output values less than MAX_NOTE_VALUE / n_actions.
+    pub fn arb_action_n(
+        n_actions: usize,
+        flags: Flags,
+    ) -> impl Strategy<Value = (ValueSum, Action<redpallas::Signature<SpendAuth>>)> {
+        let spend_value_gen = if flags.spends_enabled {
+            Strategy::boxed(arb_note_value_bounded(MAX_NOTE_VALUE / n_actions as u64))
+        } else {
+            Strategy::boxed(Just(NoteValue::zero()))
+        };
+
+        spend_value_gen.prop_flat_map(move |spend_value| {
+            let output_value_gen = if flags.outputs_enabled {
+                Strategy::boxed(arb_note_value_bounded(MAX_NOTE_VALUE / n_actions as u64))
+            } else {
+                Strategy::boxed(Just(NoteValue::zero()))
+            };
+
+            output_value_gen.prop_flat_map(move |output_value| {
+                arb_action(spend_value, output_value)
+                    .prop_map(move |a| ((spend_value - output_value).unwrap(), a))
+            })
+        })
+    }
+
+    prop_compose! {
+        /// Create an arbitrary set of flags.
+        pub fn arb_flags()(spends_enabled in prop::bool::ANY, outputs_enabled in prop::bool::ANY) -> Flags {
+            Flags::from_parts(spends_enabled, outputs_enabled)
+        }
+    }
+
+    prop_compose! {
+        /// Generate an arbitrary unauthorized bundle. This bundle does not
+        /// necessarily respect consensus rules; for that use
+        /// [`crate::builder::testing::arb_bundle`]
+        pub fn arb_unauthorized_bundle()
+        (
+            n_actions in 1usize..100,
+            flags in arb_flags(),
+        )
+        (
+            acts in vec(arb_unauthorized_action_n(n_actions, flags), n_actions),
+            anchor in prop::array::uniform32(prop::num::u8::ANY).prop_map(Anchor),
+            flags in Just(flags)
+        ) -> Bundle<Unauthorized, ValueSum> {
+            let (balances, actions): (Vec<ValueSum>, Vec<Action<_>>) = acts.into_iter().unzip();
+
+            Bundle::from_parts(
+                NonEmpty::from_vec(actions).unwrap(),
+                flags,
+                balances.into_iter().sum::<Result<ValueSum, _>>().unwrap(),
+                anchor,
+                Unauthorized
+            )
+        }
+    }
+
+    prop_compose! {
+        /// Generate an arbitrary bundle with fake authorization data. This bundle does not
+        /// necessarily respect consensus rules; for that use
+        /// [`crate::builder::testing::arb_bundle`]
+        pub fn arb_bundle()
+        (
+            n_actions in 1usize..100,
+            flags in arb_flags(),
+        )
+        (
+            acts in vec(arb_action_n(n_actions, flags), n_actions),
+            anchor in prop::array::uniform32(prop::num::u8::ANY).prop_map(Anchor),
+            sk in arb_binding_signing_key(),
+            rng_seed in prop::array::uniform32(prop::num::u8::ANY),
+            fake_proof in vec(prop::num::u8::ANY, 1973),
+            fake_sighash in prop::array::uniform32(prop::num::u8::ANY),
+            flags in Just(flags)
+        ) -> Bundle<Authorized, ValueSum> {
+            let (balances, actions): (Vec<ValueSum>, Vec<Action<_>>) = acts.into_iter().unzip();
+            let rng = StdRng::from_seed(rng_seed);
+
+            Bundle::from_parts(
+                NonEmpty::from_vec(actions).unwrap(),
+                flags,
+                balances.into_iter().sum::<Result<ValueSum, _>>().unwrap(),
+                anchor,
+                Authorized {
+                    proof: Proof::new(fake_proof),
+                    binding_signature: sk.sign(rng, &fake_sighash),
+                }
+            )
+        }
+    }
+}
diff --git a/src/circuit.rs b/src/circuit.rs
index 2bf53bc2..af2a6d78 100644
--- a/src/circuit.rs
+++ b/src/circuit.rs
@@ -7,11 +7,10 @@ use halo2::{
 use pasta_curves::{pallas, vesta};
 
 use crate::{
-    note::ExtractedNoteCommitment,
+    note::{nullifier::Nullifier, ExtractedNoteCommitment},
     primitives::redpallas::{SpendAuth, VerificationKey},
     tree::Anchor,
     value::ValueCommitment,
-    Nullifier,
 };
 
 pub(crate) mod gadget;
@@ -120,6 +119,12 @@ impl Instance {
 #[derive(Debug)]
 pub struct Proof(Vec<u8>);
 
+impl AsRef<[u8]> for Proof {
+    fn as_ref(&self) -> &[u8] {
+        &self.0
+    }
+}
+
 impl Proof {
     /// Creates a proof for the given circuits and instances.
     pub fn create(
@@ -156,6 +161,11 @@ impl Proof {
             Err(plonk::Error::ConstraintSystemFailure)
         }
     }
+
+    /// Constructs a new Proof value.
+    pub fn new(bytes: Vec<u8>) -> Self {
+        Proof(bytes)
+    }
 }
 
 #[cfg(test)]
@@ -174,6 +184,7 @@ mod tests {
         value::{ValueCommitTrapdoor, ValueCommitment},
     };
 
+    // TODO: recast as a proptest
     #[test]
     fn round_trip() {
         let mut rng = OsRng;
@@ -195,7 +206,7 @@ mod tests {
                 (
                     Circuit {},
                     Instance {
-                        anchor: Anchor,
+                        anchor: Anchor([0; 32]),
                         cv_net,
                         nf_old,
                         rk,
diff --git a/src/keys.rs b/src/keys.rs
index 52074693..58116f0e 100644
--- a/src/keys.rs
+++ b/src/keys.rs
@@ -25,7 +25,7 @@ use crate::{
 /// Defined in [Zcash Protocol Spec § 4.2.3: Orchard Key Components][orchardkeycomponents].
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct SpendingKey([u8; 32]);
 
 impl SpendingKey {
@@ -109,7 +109,7 @@ impl From<&SpendingKey> for SpendAuthorizingKey {
 /// $\mathsf{ak}$ but stored here as a RedPallas verification key.
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct SpendValidatingKey(redpallas::VerificationKey<SpendAuth>);
 
 impl From<&SpendAuthorizingKey> for SpendValidatingKey {
@@ -138,7 +138,7 @@ impl SpendValidatingKey {
 /// [`Nullifier`]: crate::note::Nullifier
 /// [`Note`]: crate::note::Note
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub(crate) struct NullifierDerivingKey(pallas::Base);
 
 impl From<&SpendingKey> for NullifierDerivingKey {
@@ -158,7 +158,7 @@ impl NullifierDerivingKey {
 /// Defined in [Zcash Protocol Spec § 4.2.3: Orchard Key Components][orchardkeycomponents].
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 struct CommitIvkRandomness(pallas::Scalar);
 
 impl From<&SpendingKey> for CommitIvkRandomness {
@@ -175,7 +175,7 @@ impl From<&SpendingKey> for CommitIvkRandomness {
 /// Defined in [Zcash Protocol Spec § 4.2.3: Orchard Key Components][orchardkeycomponents].
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct FullViewingKey {
     ak: SpendValidatingKey,
     nk: NullifierDerivingKey,
@@ -287,7 +287,7 @@ impl DiversifierKey {
 /// Defined in [Zcash Protocol Spec § 4.2.3: Orchard Key Components][orchardkeycomponents].
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct Diversifier([u8; 11]);
 
 impl Diversifier {
@@ -343,7 +343,7 @@ impl IncomingViewingKey {
 /// Defined in [Zcash Protocol Spec § 4.2.3: Orchard Key Components][orchardkeycomponents].
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub struct OutgoingViewingKey([u8; 32]);
 
 impl From<&FullViewingKey> for OutgoingViewingKey {
@@ -357,7 +357,7 @@ impl From<&FullViewingKey> for OutgoingViewingKey {
 /// Defined in [Zcash Protocol Spec § 4.2.3: Orchard Key Components][orchardkeycomponents].
 ///
 /// [orchardkeycomponents]: https://zips.z.cash/protocol/nu5.pdf#orchardkeycomponents
-#[derive(Debug)]
+#[derive(Debug, Clone)]
 pub(crate) struct DiversifiedTransmissionKey(pallas::Point);
 
 impl DiversifiedTransmissionKey {
@@ -374,3 +374,25 @@ impl DiversifiedTransmissionKey {
         self.0.to_bytes()
     }
 }
+
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use proptest::prelude::*;
+
+    use super::SpendingKey;
+
+    prop_compose! {
+        /// Generate a uniformly distributed fake note commitment value.
+        pub fn arb_spending_key()(
+            key in prop::array::uniform32(prop::num::u8::ANY)
+                .prop_map(SpendingKey::from_bytes)
+                .prop_filter(
+                    "Values must correspond to valid Orchard spending keys.",
+                    |opt| bool::from(opt.is_some())
+                )
+        ) -> SpendingKey {
+            key.unwrap()
+        }
+    }
+}
diff --git a/src/lib.rs b/src/lib.rs
index 0d56315c..eb3890e0 100644
--- a/src/lib.rs
+++ b/src/lib.rs
@@ -17,16 +17,19 @@
 #![deny(unsafe_code)]
 
 mod address;
-mod builder;
+pub mod builder;
 pub mod bundle;
 mod circuit;
 mod constants;
 pub mod keys;
-mod note;
+pub mod note;
 pub mod primitives;
 mod spec;
 mod tree;
 pub mod value;
 
 pub use address::Address;
-pub use note::{EncryptedNote, Note, NoteCommitment, Nullifier};
+pub use bundle::Bundle;
+pub use circuit::Proof;
+pub use note::Note;
+pub use tree::Anchor;
diff --git a/src/note.rs b/src/note.rs
index 0294a079..84e9e400 100644
--- a/src/note.rs
+++ b/src/note.rs
@@ -1,3 +1,4 @@
+//! Data structures used for note construction.
 use group::GroupEncoding;
 use pasta_curves::pallas;
 use rand::RngCore;
@@ -9,10 +10,10 @@ use crate::{
     Address,
 };
 
-mod commitment;
+pub(crate) mod commitment;
 pub use self::commitment::{ExtractedNoteCommitment, NoteCommitment};
 
-mod nullifier;
+pub(crate) mod nullifier;
 pub use self::nullifier::Nullifier;
 
 /// The ZIP 212 seed randomness for a note.
@@ -135,4 +136,47 @@ impl Note {
 
 /// An encrypted note.
 #[derive(Debug)]
-pub struct EncryptedNote;
+pub struct TransmittedNoteCiphertext {
+    /// The serialization of the ephemeral public key
+    pub epk_bytes: [u8; 32],
+    /// The encrypted note ciphertext
+    pub enc_ciphertext: [u8; 580],
+    /// An encrypted value that allows the holder of the outgoing cipher
+    /// key for the note to recover the note plaintext.
+    pub out_ciphertext: [u8; 80],
+}
+
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use proptest::prelude::*;
+
+    use crate::{
+        address::testing::arb_address, note::nullifier::testing::arb_nullifier, value::NoteValue,
+    };
+
+    use super::{Note, RandomSeed};
+
+    prop_compose! {
+        /// Generate an arbitrary random seed
+        pub(crate) fn arb_rseed()(elems in prop::array::uniform32(prop::num::u8::ANY)) -> RandomSeed {
+            RandomSeed(elems)
+        }
+    }
+
+    prop_compose! {
+        /// Generate an action without authorization data.
+        pub fn arb_note(value: NoteValue)(
+            recipient in arb_address(),
+            rho in arb_nullifier(),
+            rseed in arb_rseed(),
+        ) -> Note {
+            Note {
+                recipient,
+                value,
+                rho,
+                rseed,
+            }
+        }
+    }
+}
diff --git a/src/note/commitment.rs b/src/note/commitment.rs
index 00c6d853..784024c7 100644
--- a/src/note/commitment.rs
+++ b/src/note/commitment.rs
@@ -2,7 +2,7 @@ use std::iter;
 
 use bitvec::{array::BitArray, order::Lsb0};
 use ff::PrimeField;
-use pasta_curves::pallas;
+use pasta_curves::{arithmetic::FieldExt, pallas};
 use subtle::CtOption;
 
 use crate::{
@@ -59,6 +59,18 @@ impl NoteCommitment {
 #[derive(Clone, Debug)]
 pub struct ExtractedNoteCommitment(pub(super) pallas::Base);
 
+impl ExtractedNoteCommitment {
+    /// Deserialize the extracted note commitment from a byte array.
+    pub fn from_bytes(bytes: &[u8; 32]) -> CtOption<Self> {
+        pallas::Base::from_bytes(bytes).map(ExtractedNoteCommitment)
+    }
+
+    /// Serialize the value commitment to its canonical byte representation.
+    pub fn to_bytes(&self) -> [u8; 32] {
+        self.0.to_bytes()
+    }
+}
+
 impl From<NoteCommitment> for ExtractedNoteCommitment {
     fn from(cm: NoteCommitment) -> Self {
         ExtractedNoteCommitment(extract_p(&cm.0))
diff --git a/src/note/nullifier.rs b/src/note/nullifier.rs
index 65f55afd..bc0dd6e3 100644
--- a/src/note/nullifier.rs
+++ b/src/note/nullifier.rs
@@ -1,7 +1,8 @@
 use group::Group;
 use halo2::arithmetic::CurveExt;
-use pasta_curves::pallas;
+use pasta_curves::{arithmetic::FieldExt, pallas};
 use rand::RngCore;
+use subtle::CtOption;
 
 use super::NoteCommitment;
 use crate::{
@@ -11,7 +12,7 @@ use crate::{
 
 /// A unique nullifier for a note.
 #[derive(Clone, Debug)]
-pub struct Nullifier(pub(super) pallas::Base);
+pub struct Nullifier(pub(crate) pallas::Base);
 
 impl Nullifier {
     /// Generates a dummy nullifier for use as $\rho$ in dummy spent notes.
@@ -30,6 +31,16 @@ impl Nullifier {
         Nullifier(extract_p(&pallas::Point::random(rng)))
     }
 
+    /// Deserialize the nullifier from a byte array.
+    pub fn from_bytes(bytes: &[u8; 32]) -> CtOption<Self> {
+        pallas::Base::from_bytes(bytes).map(Nullifier)
+    }
+
+    /// Serialize the nullifier to its canonical byte representation.
+    pub fn to_bytes(&self) -> [u8; 32] {
+        self.0.to_bytes()
+    }
+
     /// $DeriveNullifier$.
     ///
     /// Defined in [Zcash Protocol Spec § 4.16: Note Commitments and Nullifiers][commitmentsandnullifiers].
@@ -46,3 +57,27 @@ impl Nullifier {
         Nullifier(extract_p(&(k * mod_r_p(nk.prf_nf(rho) + psi) + cm.0)))
     }
 }
+
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use proptest::prelude::*;
+
+    use group::GroupEncoding;
+    use pasta_curves::pallas;
+
+    use super::Nullifier;
+    use crate::spec::extract_p;
+
+    prop_compose! {
+        /// Generate a uniformly distributed nullifier value.
+        pub fn arb_nullifier()(
+            coord in prop::array::uniform32(any::<u8>()).prop_map(|b| pallas::Point::from_bytes(&b)).prop_filter(
+                "Must generate a valid Pallas point",
+                |p| p.is_some().into()
+            )
+        ) -> Nullifier {
+            Nullifier(extract_p(&coord.unwrap()))
+        }
+    }
+}
diff --git a/src/primitives/redpallas.rs b/src/primitives/redpallas.rs
index 7db402ec..0a8ba3d7 100644
--- a/src/primitives/redpallas.rs
+++ b/src/primitives/redpallas.rs
@@ -96,6 +96,18 @@ impl VerificationKey<SpendAuth> {
 #[derive(Debug)]
 pub struct Signature<T: SigType>(reddsa::Signature<T>);
 
+impl<T: SigType> From<[u8; 64]> for Signature<T> {
+    fn from(bytes: [u8; 64]) -> Self {
+        Signature(bytes.into())
+    }
+}
+
+impl<T: SigType> From<&Signature<T>> for [u8; 64] {
+    fn from(sig: &Signature<T>) -> Self {
+        sig.0.into()
+    }
+}
+
 pub(crate) mod private {
     use super::{Binding, SpendAuth};
 
@@ -105,3 +117,49 @@ pub(crate) mod private {
 
     impl Sealed for Binding {}
 }
+
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
+    use std::convert::TryFrom;
+
+    use proptest::prelude::*;
+
+    use super::{Binding, SigningKey, SpendAuth, VerificationKey};
+
+    prop_compose! {
+        /// Generate a uniformly distributed RedDSA spend authorization signing key.
+        pub fn arb_spendauth_signing_key()(
+            sk in prop::array::uniform32(prop::num::u8::ANY)
+                .prop_map(reddsa::SigningKey::try_from)
+                .prop_filter("Values must be parseable as valid signing keys", |r| r.is_ok())
+        ) -> SigningKey<SpendAuth> {
+            SigningKey(sk.unwrap())
+        }
+    }
+
+    prop_compose! {
+        /// Generate a uniformly distributed RedDSA binding signing key.
+        pub fn arb_binding_signing_key()(
+            sk in prop::array::uniform32(prop::num::u8::ANY)
+                .prop_map(reddsa::SigningKey::try_from)
+                .prop_filter("Values must be parseable as valid signing keys", |r| r.is_ok())
+        ) -> SigningKey<Binding> {
+            SigningKey(sk.unwrap())
+        }
+    }
+
+    prop_compose! {
+        /// Generate a uniformly distributed RedDSA spend authorization verification key.
+        pub fn arb_spendauth_verification_key()(sk in arb_spendauth_signing_key()) -> VerificationKey<SpendAuth> {
+            VerificationKey::from(&sk)
+        }
+    }
+
+    prop_compose! {
+        /// Generate a uniformly distributed RedDSA binding verification key.
+        pub fn arb_binding_verification_key()(sk in arb_binding_signing_key()) -> VerificationKey<Binding> {
+            VerificationKey::from(&sk)
+        }
+    }
+}
diff --git a/src/tree.rs b/src/tree.rs
index 63089e31..e0d14582 100644
--- a/src/tree.rs
+++ b/src/tree.rs
@@ -2,7 +2,7 @@ use rand::RngCore;
 
 /// The root of an Orchard commitment tree.
 #[derive(Clone, Debug)]
-pub struct Anchor;
+pub struct Anchor(pub [u8; 32]);
 
 #[derive(Debug)]
 pub struct MerklePath;
@@ -10,7 +10,6 @@ pub struct MerklePath;
 impl MerklePath {
     /// Generates a dummy Merkle path for use in dummy spent notes.
     pub(crate) fn dummy(_rng: &mut impl RngCore) -> Self {
-        // TODO
         MerklePath
     }
 }
diff --git a/src/value.rs b/src/value.rs
index c636d173..379bb599 100644
--- a/src/value.rs
+++ b/src/value.rs
@@ -14,8 +14,8 @@
 //! [`Action`]: crate::bundle::Action
 //! [`Bundle`]: crate::bundle::Bundle
 
-use std::convert::TryInto;
-use std::fmt;
+use std::convert::{TryFrom, TryInto};
+use std::fmt::{self, Debug};
 use std::iter::Sum;
 use std::ops::{Add, Sub};
 
@@ -27,9 +27,23 @@ use pasta_curves::{
     pallas,
 };
 use rand::RngCore;
+use subtle::CtOption;
 
 use crate::primitives::redpallas::{self, Binding};
 
+use std::ops::RangeInclusive;
+
+/// Maximum note value.
+pub const MAX_NOTE_VALUE: u64 = u64::MAX;
+
+/// The valid range of the scalar multiplication used in ValueCommit^Orchard.
+///
+/// Defined in a note in [Zcash Protocol Spec § 4.17.4: Action Statement (Orchard)][actionstatement].
+///
+/// [actionstatement]: https://zips.z.cash/protocol/nu5.pdf#actionstatement
+pub const VALUE_SUM_RANGE: RangeInclusive<i128> =
+    -(MAX_NOTE_VALUE as i128)..=MAX_NOTE_VALUE as i128;
+
 /// A value operation overflowed.
 #[derive(Debug)]
 pub struct OverflowError;
@@ -66,18 +80,21 @@ impl NoteValue {
 }
 
 impl Sub for NoteValue {
-    type Output = Result<ValueSum, OverflowError>;
+    type Output = Option<ValueSum>;
 
+    #[allow(clippy::suspicious_arithmetic_impl)]
     fn sub(self, rhs: Self) -> Self::Output {
-        let a: i64 = self.0.try_into().map_err(|_| OverflowError)?;
-        let b: i64 = rhs.0.try_into().map_err(|_| OverflowError)?;
-        Ok(ValueSum(a - b))
+        let a = self.0 as i128;
+        let b = rhs.0 as i128;
+        a.checked_sub(b)
+            .filter(|v| VALUE_SUM_RANGE.contains(v))
+            .map(ValueSum)
     }
 }
 
-/// A sum of Orchard note values.
+/// A sum of Orchard note values
 #[derive(Clone, Copy, Debug, Default, PartialEq)]
-pub struct ValueSum(i64);
+pub struct ValueSum(i128);
 
 impl ValueSum {
     pub(crate) fn zero() -> Self {
@@ -90,21 +107,39 @@ impl ValueSum {
     /// This only enforces that the value is a signed 63-bit integer. Callers should
     /// enforce any additional constraints on the value's valid range themselves.
     pub fn from_raw(value: i64) -> Self {
-        ValueSum(value)
+        ValueSum(value as i128)
     }
 }
 
 impl Add for ValueSum {
-    type Output = Result<ValueSum, OverflowError>;
+    type Output = Option<ValueSum>;
 
+    #[allow(clippy::suspicious_arithmetic_impl)]
     fn add(self, rhs: Self) -> Self::Output {
-        self.0.checked_add(rhs.0).map(ValueSum).ok_or(OverflowError)
+        self.0
+            .checked_add(rhs.0)
+            .filter(|v| VALUE_SUM_RANGE.contains(v))
+            .map(ValueSum)
     }
 }
 
 impl<'a> Sum<&'a ValueSum> for Result<ValueSum, OverflowError> {
     fn sum<I: Iterator<Item = &'a ValueSum>>(iter: I) -> Self {
-        iter.fold(Ok(ValueSum(0)), |acc, cv| acc? + *cv)
+        iter.fold(Ok(ValueSum(0)), |acc, v| (acc? + *v).ok_or(OverflowError))
+    }
+}
+
+impl Sum<ValueSum> for Result<ValueSum, OverflowError> {
+    fn sum<I: Iterator<Item = ValueSum>>(iter: I) -> Self {
+        iter.fold(Ok(ValueSum(0)), |acc, v| (acc? + v).ok_or(OverflowError))
+    }
+}
+
+impl TryFrom<ValueSum> for i64 {
+    type Error = OverflowError;
+
+    fn try_from(v: ValueSum) -> Result<i64, Self::Error> {
+        i64::try_from(v.0).map_err(|_| OverflowError)
     }
 }
 
@@ -190,11 +225,12 @@ impl ValueCommitment {
         let hasher = pallas::Point::hash_to_curve("z.cash:Orchard-cv");
         let V = hasher(b"v");
         let R = hasher(b"r");
+        let abs_value = u64::try_from(value.0.abs()).expect("value must be in valid range");
 
         let value = if value.0.is_negative() {
-            -pallas::Scalar::from_u64((-value.0) as u64)
+            -pallas::Scalar::from_u64(abs_value)
         } else {
-            pallas::Scalar::from_u64(value.0 as u64)
+            pallas::Scalar::from_u64(abs_value)
         };
 
         ValueCommitment(V * value + R * rcv.0)
@@ -204,22 +240,29 @@ impl ValueCommitment {
         // TODO: impl From<pallas::Point> for redpallas::VerificationKey.
         self.0.to_bytes().try_into().unwrap()
     }
+
+    /// Deserialize a value commitment from its byte representation
+    pub fn from_bytes(bytes: &[u8; 32]) -> CtOption<ValueCommitment> {
+        pallas::Point::from_bytes(bytes).map(ValueCommitment)
+    }
+
+    /// Serialize this value commitment to its canonical byte representation.
+    pub fn to_bytes(&self) -> [u8; 32] {
+        self.0.to_bytes()
+    }
 }
 
-#[cfg(test)]
-mod tests {
+/// Generators for property testing.
+#[cfg(any(test, feature = "test-dependencies"))]
+pub mod testing {
     use pasta_curves::{arithmetic::FieldExt, pallas};
     use proptest::prelude::*;
 
-    use super::{OverflowError, ValueCommitTrapdoor, ValueCommitment, ValueSum};
-    use crate::primitives::redpallas;
-
-    /// Zcash's maximum money amount. Used as a bound in proptests so we don't artifically
-    /// overflow `ValueSum`'s size.
-    const MAX_MONEY: i64 = 21_000_000 * 1_0000_0000;
+    use super::{NoteValue, ValueCommitTrapdoor, ValueSum, MAX_NOTE_VALUE, VALUE_SUM_RANGE};
 
     prop_compose! {
-        fn arb_scalar()(bytes in prop::array::uniform32(0u8..)) -> pallas::Scalar {
+        /// Generate an arbitrary Pallas scalar.
+        pub fn arb_scalar()(bytes in prop::array::uniform32(0u8..)) -> pallas::Scalar {
             // Instead of rejecting out-of-range bytes, let's reduce them.
             let mut buf = [0; 64];
             buf[..32].copy_from_slice(&bytes);
@@ -228,21 +271,68 @@ mod tests {
     }
 
     prop_compose! {
-        fn arb_value_sum(bound: i64)(value in -bound..bound) -> ValueSum {
-            ValueSum(value)
+        /// Generate an arbitrary [`ValueSum`] in the range of valid Zcash values.
+        pub fn arb_value_sum()(value in VALUE_SUM_RANGE) -> ValueSum {
+            ValueSum(value as i128)
         }
     }
 
     prop_compose! {
-        fn arb_trapdoor()(rcv in arb_scalar()) -> ValueCommitTrapdoor {
+        /// Generate an arbitrary [`ValueSum`] in the range of valid Zcash values.
+        pub fn arb_value_sum_bounded(bound: NoteValue)(value in -(bound.0 as i128)..=(bound.0 as i128)) -> ValueSum {
+            ValueSum(value as i128)
+        }
+    }
+
+    prop_compose! {
+        /// Generate an arbitrary ValueCommitTrapdoor
+        pub fn arb_trapdoor()(rcv in arb_scalar()) -> ValueCommitTrapdoor {
             ValueCommitTrapdoor(rcv)
         }
     }
 
+    prop_compose! {
+        /// Generate an arbitrary value in the range of valid nonnegative Zcash amounts.
+        pub fn arb_note_value()(value in 0u64..MAX_NOTE_VALUE) -> NoteValue {
+            NoteValue(value)
+        }
+    }
+
+    prop_compose! {
+        /// Generate an arbitrary value in the range of valid positive Zcash amounts
+        /// less than a specified value.
+        pub fn arb_note_value_bounded(max: u64)(value in 0u64..max) -> NoteValue {
+            NoteValue(value)
+        }
+    }
+
+    prop_compose! {
+        /// Generate an arbitrary value in the range of valid positive Zcash amounts
+        /// less than a specified value.
+        pub fn arb_positive_note_value(max: u64)(value in 1u64..max) -> NoteValue {
+            NoteValue(value)
+        }
+    }
+}
+
+#[cfg(test)]
+mod tests {
+    use proptest::prelude::*;
+
+    use super::{
+        testing::{arb_note_value_bounded, arb_trapdoor, arb_value_sum_bounded},
+        OverflowError, ValueCommitTrapdoor, ValueCommitment, ValueSum, MAX_NOTE_VALUE,
+    };
+    use crate::primitives::redpallas;
+
     proptest! {
         #[test]
         fn bsk_consistent_with_bvk(
-            values in prop::collection::vec((arb_value_sum(MAX_MONEY), arb_trapdoor()), 1..10),
+            values in (1usize..10).prop_flat_map(|n_values|
+                arb_note_value_bounded(MAX_NOTE_VALUE / n_values as u64).prop_flat_map(move |bound|
+                    prop::collection::vec((arb_value_sum_bounded(bound), arb_trapdoor()), n_values)
+                )
+            )
         ) {
             let value_balance = values
                 .iter()