Gold bars are a popular form of investment for those looking to diversify their portfolios. But how much is a gold bar worth? This article will provide a comprehensive guide to the value of gold bars, the different sizes available, and the process of purchasing them. Credit Suisse 10 Gram Gold Bars by JM Bullion are composed of 400 troy ounces of pure 24 karat gold (99.99% pure). One troy ounce is the industry standard for weighing and pricing precious metals, based on the ancient unit of weight developed by the Romans.
There are also gold bars in other, more affordable sizes. The most popular size is the Kilo gold bar, which weighs around 2.2 pounds and comes with one of the lowest premiums a gold investor can find. Kilos are the most popular form of stored gold and the world standard in investment gold bars. Other sizes of gold bars include the 10 ounce gold bar, which comes from a highly recognized private label such as Credit Suisse or the Perth Mint.
What many people don't realize is that gold bars come in a wide variety of weights and sizes, allowing almost everyone to invest in a gold denomination that works within their budget. To get a 400oz 99.5% pure gold bar from a rod of ore that is received from the miner, you have to go through a chlorine refining process known as the Miller process. The Miller process bubbles chlorine gas through molten mineral metal, allowing gold to react with chlorine to form gold chloride which then forms a slag on top of the molten precious metal. This process produces gold with a purity of 99.5% and is melted into 400 oz bars for the wholesale market.
The names “rod”, “bar”, “cookie”, and “ingot” all refer to long bars of precious metal ingots. A rod may be the technical term used when referring to a good standard delivery rod. A bar refers to an ingot product that has its mass (weight) and purity stamped into it. A “cookie” is the name given to the thinnest cast bars, sometimes also called wafers.
An ingot is a common description given to the shape of a cast metal part. The largest gold bar in the world measures 250 kg (551 lb), measures at the base 45.5 cm x 22.5 cm and 17 cm high with a tilt angle of 5 degrees (equal to 15,730 cm³, or 17.9 in × 8.9 in × 6.7 in ≈ 1062.04 in³). Most gold bars weigh 1 oz, 5 oz, 10 oz or 1 kilo (32.15 troy ounces). Precious metals are always expressed in troy ounces (31.1 grams), unlike the standard avoirdupois ounce of 28 grams. To ensure authenticity, you can perform an easy test for any bar that comes from a reputable mint such as Perth, Credit Suisse or RMC: check that it weighs exactly what it says on its stamping. There are criminal offenses for misrepresenting the weight of a gold bar, so if it weighs anything more, you have found a fake. You can calculate your weight in gold using this formula: take the current price per ounce from the price of the gold page and multiply it by 16 ounces; then multiply that number by your current weight in pounds. A test is also used to measure the purity of a given metal; it is normally used to ensure that coins or bars produced by refiners meet manufacturer's purity standards.
Mints will ship its products on individually sealed plastic test cards to certify that tests remain accurate even after changing hands and vendors. The market value of a gold bar is almost entirely based on its weight in gold; its price closely follows the spot price of gold - that is, the price at which you could buy an ounce of gold right now (“on the spot”) instead of at a future date. You can find different sizes and weights on the gold market that vary significantly in price; during production manufacturers cut flat pieces of gold into white gold and then mint them into bars. Minted gold bars are cut by hand or drilled from large flat pieces of gold and are often produced with shiny finishes and artistic designs. If you're a first-time investor, it can be confusing to choose which size or weight is best for you; however, with this comprehensive guide you should now have all the information you need to make an informed decision about investing in gold bars.