Gold Bar Facts
Gold bars are a common way for investors to hold gold bullion in its physical form. Gold bars are easy to store, stack and identify. They also are less expensive than gold coins that are sold with a higher premium.
Other People Are Reading
-
History
-
Gold bars have been cast from molten gold since man began melting ore. Gold bars were a way to standardize size, weight and purity of gold for commerce.
Purity
-
Modern gold bars are very pure. Most are 99.5 percent pure or higher, which is considered 24-karat gold.
-
Size
-
Gold bars are sold in a wide variety of sizes. These range from 1 g to 12.4 kg. The 12.4 kg bar is equivalent to 400 oz. and is called a "good delivery bar." They are traded by banks and gold dealers.
Premium
-
All gold bars are sold at a premium. This extra cost covers the expense of manufacturing and marketing. This is usually 2 to 4 percent above the spot price of the gold content.
Identification
-
All gold bars are identified by information stamped directly on the surface. This information includes the name of the manufacturer, size of the gold bar, purity of the gold and identification number.
-
References
- Photo Credit lingots d"or image by dead_account from Fotolia.com
