You can find valuable gold bars in many sizes and they are a popular investment. Gold bars are a safer backing than other precious metals. You have likely heard that gold bars helped save entire countries from bankruptcy.
Many people also buy bars from a bullion dealer or bank when they decide to invest in gold. It is practical and more convenient than having to search for cash. Let’s now look at all the important information regarding gold bar size and weight.
What is a Gold Bar?
A bar producer produces gold bars made of refined metal gold. It is important to comply with all requirements regarding labeling, manufacturing type and record keeping when making these precious bricks.
The manufacturer must also provide a certificate proving authenticity. This is a seal on paper that certifies the product’s origin. It prevents bars being stolen or copied. Today, computer certificates of authenticity can be issued with a license number. This allows you to prove that the product is legal.
Gold ingots can also be used to refer to larger bars made from ingot molds. Larger bars are not made by stamping or minting small bars from rolled-gold sheets. Instead, they are created from pouring molten steel into ingots.
The term gold bullion is a non-ferrous, non-iron metal. The French term Bouillon,meaning boiling, is the origin of bullion. It was used in the past as a raw material for coin production. These coins are still a great investment.
Many legends surround the history of the gold bars. One legend explains how the ingot was used as a standard in preRoman times.
Tacitus , a Roman author, mentioned that Cesellius Bassus convinced Emperor Nero of his dream of shapeless gold ingots being used in the early ages. Even though they didn’t find that particular gold, it is clear that ingots were available back then.
Later, in colonial Brazil, gold bars and ingots were used as legal currency during the Brazilian Gold Rush of 17th to 19th centuries. Joao VI Prince Regent made the most notable discovery with his 90.2 g (9.2 troy ounces) gold ingot. It had an imprinted production number and year.
Spain was another country that received benefits from gold bars. Mel Fisher, a treasure hunter, found the shipwreck Nuestra Senora de Atocha that was lost in 1985 close to the Florida Keys. He also discovered silver and Colombian emeralds that were used by the Spaniards in trade.
Gold became the cornerstone of the US economy after the California Gold Rush, which began in 1848. After the San Francisco Mint was built in 1854, gold bullion became an official currency for the United States. The Federal Reserve Bank of New York has 497,000 bars of gold bullion weighing just 6,190 tons.
Gold bar weight
In troy ounces, the best way to measure the gold bar weight is. These measurements should be easy to distinguish:
- One troy ounce equals 31.1034768g in gold bar weight
- 32.1507 troy Ounces is the weight of one kilogram of gold bars
To accurately determine the used measurements, you can use any one of the online converters. The standard bar, which weighs approximately 400 troy ounces (438.9 ounces) (12.4 kg), is known as a Good Delivery bar.
This value is widely accepted and recommended, but you will still be able to find other weight standards for the bar of gold. Internationally accredited central banks require a bar of four-hundred ounces weighing between 350 and 430 troy ounces (or 10.9 to 13.4 kg).
This variation in the weight of the gold bar can affect its value by as much as $100,000. Before you invest in this brick, it is important to be fully informed about the weights of gold bars.
Large bars are usually made according to exact measurements. Some of the largest bars can weigh between 96 and 100 troy ounces (3,11 and 3,11 kg). You can also find smaller bars with over fifty different casts or minted weights.
The 1 kilobar, or 32.1507465656 troy ounces (11,000 g) world’s most widely traded small, internationally-shaped gold bars are the largest. 99.9%, 99.9%, or 99.5% are the most common gold purity levels for bricks.
Gold bar size
The London Bullion Market defines gold bar weight as an international standard. However, it is important to consider its size. A gold bar’s dimensions are determined by its length, width, depth, or thickness.
Gold Bar Dimensions
|1 troy ounce (31.1 g)||1.65 inches (4.2 cm)||0.95 inches (2.4 cm)||0.08 inches (0.2 cm)|
|3.2 troy ounces (100 g)||2.17 inches (5.5 cm)||1.22 inches (3.1 cm)||0.12 inches (0.3 cm)|
|32.1 troy ounces (1 kg)||3.15 inches (8 cm)||1.58 inches (4 cm)||0.71 inches (1.8 cm)|
|400 troy ounces (12.4 kg)||10.7 inches (27.2 cm)||3.72 inches (9.45 cm)||2.03 inches (5.1 cm)|
Remember that standard gold bars of 400 troy ounces (or 12.5kg) can have different measurements. They usually range from:
- Lengths range from 8.3 inches to 11.4 inches (21-29 cm).
- Width: 2.2 to 3.33 inches (5.5 to 8.5 cm).
- The height ranges from 0.98 to 1.77 inches (22.5 cm – 4.5cm)
These are the most popular sizes for gold bars. However, the London Bullion Market recommends dimensions for London Good Delivery.
- Top surface: 10 by 3.2 inches (25×8.8 cm).
- 3.0 by 2.2 inches (26×5.5 cm) as the bottom surface
- 5.8 cm (3.8 cm) thick
Purchase Secure Gold Bar
You should consider the following primary characteristics when buying gold bars:
Always ensure that your gold bars are pure before you buy them, especially if you’re buying them for investment purposes. You should choose 24K Gold, even though it is more expensive than the lower karats. This will allow you to expect a higher price when you decide to resell it.
You will know the exact value of gold bars after you have checked it carefully.
The best way to get gold bars is to buy them refined at renowned refineries. This will ensure that you get the purest bar possible.
Because it maintains liquidity, you should choose the gold bars with power numbers. The denomination range is:
- 002 pounds (1 g)
- 02 pounds (10 g)
- 04 pounds (20 g)
- 11 pounds (50 g)
- 22 pounds (100 g)
- 2 pounds (1 kg)
- 1 troy ounce (31.1 grams)
- 10 troy ounces (311 grams)
- 100 troy ounces (3.11kg)
Keep the gold bar in its original packaging. This will ensure purity of the gold bar.
Returning the Gold Bar
You should be careful when purchasing gold bars online as the exchange policy for gold bars is more strict than for other items. To ensure that the return policy is in place, read the terms and conditions carefully before you purchase a gold bar online.
One of the most important points to remember is that the certification for the gold bars must be obtained. Before buying bricks online, be sure to check for the Hallmark certification.
Kinegram is a type of hologram that’s used for security and visual appeal. Its presence on a Kinebar is a sign of authenticity.
Some Interesting Facts about Gold Bars
The Largest Gold Bar in the World
Mitsubishi Materials Corporation produced the world’s biggest gold bar. The gold bar of this Japanese company weighs 551 lbs (250 kg). It measures 17.9 by 8.8 inches (45×22.5 cm) at its base, while its height is 6.6 inches (17cm).
The gold bar was displayed at the Toi Gold Museum, Japan in 2005. It was worth 400 million yen (3,684,000). It is currently valued at $16,100,000.
Gold bars are a pure gold reserve
Most people know that gold jewelry is not made from 100% gold. This is because the precious metal is too soft to be used for such purposes. You can therefore find pieces made from 10K or 14K or 18K depending on the additional alloy.
However, gold bars including those stored in US Bullion Depository Fort Knox always contain 99.95% pure 24K Gold.
The Largest Reserve of Gold Bars
The US Federal Reserve Bank of New York holds foreign governments’ gold.
In 1973, 11,000 metric tonnes (12,000 short tons), of gold bars were kept. however, this amount has decreased to 5,620 metric tonnes (6,190 short tons), or 497,000 gold bar in 2019.
This is likely to change as Russia and Asia continue to buy gold.
Standard gold bars offer a great opportunity to invest in money, whether you are looking for personal or professional reasons. These bars are not like gold jewelry and contain 99.95% pure Gold. They can be certified as a reliable investment that will return your money in the future.