Disclosed is a lead-free, low melting point glass composition, which is characterized by being substantially free from a lead component and comprising 0-8 mass % of SiO2, 2-12 mass % of B2O3, 2-7 mass % of ZnO, 0.5-3 mass % of RO (MgO+CaO+SrO+BaO), 0.5-5 mass % of CuO, 80-90 mass % of Bi2O3, 0.1-3 mass % of Fe2O3, and 0.1-3 mass % of Al2O3. This glass composition is not easily crystallized at high temperatures and is stable. Therefore, it is useful as an insulating coating material and a sealing material for electronic material substrates.