bars is a simple and practical way to invest in gold. Gold bars are refined and produced by companies like Credit Suisse, Johnson Matthey and Engelhard. The gold bar manufacturers stamp their name, the weight, and the purity of the gold onto the gold bar.
Gold bars come in many different weights, shapes, and purities. However they are generally classified in 2 types depending on the manufacturing method used to produce them cast gold bars and minted gold bars.
Cast Gold Bars
Cast gold bars are produced by pouring molten gold into mold with specific dimensions and form. The gold markings are applied after the gold has been cast into a bar.
Minted Gold Bars
Minted Gold Bars are produced from gold blanks, which are cut out from flat piece of gold. The name of the manufacturer, the weight and the purity is then recorded onto the minted gold bars with a minting press.
Gold Bar Sizes
Gold bars are produced in many different sizes, and their weight usually ranges between 1g and 400 troy ounces (1 troy ounce is equal to 31.1034768 grams). A gold bar with weight less than 1 kilo is considered to be small gold bar.
Gold Bars Purity
Gold bars are usually manufactured with at least 99.5% purity, but most of the time gold bars have at least 99.9% purity.
Price of Gold Bars
Usually gold bars are sold with a very small premium on top of the gold spot price. This fact makes gold bars the perfect way to buy and invest in gold.
Storage and Insurance of Gold Bars
If investors buy gold bars and take them in physical position, then they have to store their gold and insure it. These are 2 additional costs which should be considered when buying physical gold.
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