Many people picture a bar of gold as being about the size of a brick, like what’s often depicted on television or in the movies. In reality, gold bars, which are a form of bullion, are available in various sizes and weights. If you’ve opted to invest in gold bars, make sure to work with a reputable precious metals dealer, such as First National Bullion and Coin. Scottsdale collectors should continue reading to learn more about the weights gold bars typically come in and what they need to know as they weigh their investment or purchase options.
Troy Ounces & Grams
Usually rectangular in shape, gold bars are often weighed in troy ounces rather than “regular” ounces. A unit of measure dating back to the Middle Ages, the troy ounce is primarily used today to describe the weight of gold bars and other precious metals. However, some sellers and gold bar makers use grams to denote gold weight rather than troy ounces.
Standard Bars of Gold
A “standard” bar of gold is 4 inches by 11 inches by 2 inches. This type of gold bar weighs around 400 troy ounces, which is nearly 28 pounds, or just over 11 kilograms. It should be noted that standard gold bars are described as being “approximately” 400 troy ounces. This is because officially minted gold bars are made in molds, and the rate of fill isn’t perfectly precise. For this reason, standard-sized gold bars can be slightly below or above 400 troy ounces.
Average Investors’ Preference for Smaller Bars
Today, a standard bar of gold typically has a value of around $700,000, according to Learnaboutgold.com. For this reason, many average investors aren’t able to purchase too many standard-sized gold bars. It’s more common for average investors to opt for smaller gold bars.
Smaller Gold Bars
With smaller weights, it’s not unusual for investors to purchase 1 kilo gold bars. These bars are 32.5 ounces of gold that’s 99.9 percent pure. The cost for smaller bars of this size is roughly in the $55,000 to $60,000 range, which is often more doable for newer investors or ones with other investments in their portfolios. Smaller gold bars are generally available as:
• Single gram mint bars
• 1 ounce gold bars with varying hallmarks
• 5 gram mint bars
• 10 gram gold bars with random designs
• 10 or 20 gram gold bars, some of which may be part of a collectable series
A single gram of gold in bar form is about as small as you can get with gold bars. On the other end of things, it’s possible to buy gold bars weighing 50 grams or more. Some places that sell gold bars may offer bulk rates. In this instance, you might be able to get a better deal if you purchase more than one bar from a reputable seller.
What to Consider Along with Gold Bar Weights
As you can see, there’s a wide range of weight options with gold bars. This is good in the sense that it allows you to invest in gold in a way that fits your preferences and budget. At the same time, it’s just as important to pay attention to some related factors, such as how the gold bar is produced. For instance, there’s a notable difference between cast and minted ones. Also, bars minted by trusted sources are more likely to have an accurate weight and characteristics that make them solid investment-quality gold.
When they’re looking for the best place to buy gold bars, Scottsdale precious metals collectors reach out to the trustworthy professionals at First National Bullion. We can answer all your questions and help you find all the information you need on how precious metals can be a valuable part of your portfolio. Give one of our experienced dealers a call today at 480-546-8928.
The statements made in this blog are opinions, and past performance is not indicative of future returns. Precious metals, like all investments, carry risk. Precious metals and coins may appreciate, depreciate, or stay the same in cash value depending on a variety of factors. First National Bullion does not guarantee, and its website and employees make no representation, that any metals for sale will appreciate sufficiently to earn the customers a profit. The decision to buy, sell, or borrow precious metals and which precious metals to purchase, borrow, or sell are made at the customer’s sole discretion.