Abstract: A medium-setting bituminous composition or mixing grade emulsion for coating aggregates at ambient temperature with reduced levels of petroleum distillates or other solvents. These emulsions are formed from the combination of about 50 weight percent to 75 weight percent asphalt, about 20 weight percent to 40 weight percent water, an inverted emulsion present in an amount sufficient to reduce or eliminate the need for petroleum distillates in forming the emulsion, and an acid component and a base component each of which is present in a type and an amount sufficient to form a salt that facilitates formation of the emulsion. Methods of preparing such emulsions and of paving by adding the inverted emulsion to the asphalt before emulsification, which minimizes foaming thereof, are also included.