Gold bars are a great way to invest in gold and protect your assets. They come in various sizes and prices, so you can choose the one that best suits your budget, personal preference, storage capacity, and retention strategy. The market value of a gold bar is almost entirely based on its weight in gold, and the price closely follows the spot price of gold. In general, the larger the bar, the higher the price.
In addition to size, you also have different types of bars to choose from, usually wedged and cast. Minted gold bars are cut by hand or drilled from a large flat piece of gold and often have shiny finishes and artistic designs. Cast bars are manufactured by pouring molten gold into a mold, a production method that dates back thousands of years. These bars tend to lack the illustrious shine of minted bars and vary in appearance depending on how gold is poured and cooled.
When buying a gold bar, it's important to consider the hallmark of the bar producer. A well-known seal can reinforce the liquidity of a bar, making it easier to sell or market in the future. Gold bars are available from both private and trusted government minting institutions such as the Perth Mint in Australia, Johnson Matthew, Asahi, and the Royal Mint of Canada. How the weight and purity of a bar are marked will depend on the bar producer.
Some mark these details in large numbers and letters separately from the stamp, while others incorporate them into their hallmark. The test card of a stick is more than protective or cosmetic; it's the official documentation of the weight and purity of a bar, and includes a producer-specific serial number. When deciding where to buy gold bars, consider how and where you will store and protect them. Gold bars require less space than coins to store the same number of ounces, making them easy to store at home or in a safe deposit box at a bank or storage facility that specializes in gold protection.
You can buy gold bars online, by phone, or locally. Buying from a local dealer means you can leave with gold bars almost instantly, but it may be difficult to compare prices and evaluate all your product options side by side. Mitigate risk by making adaptations to store and protect your gold bars before you take possession of them. Finally, consider safety concerns when buying gold bars. How far do you want to travel with real and physical gold in your vehicle? How far away do you live from the nearest gold company? How far will you have to carry your gold bars to get in and out of your vehicle? Holding a one-kilogram gold bar is almost the same as holding a liter of water - are you ready for that?.