The largest gold bar ever manufactured weighed in at over 500 pounds. Thankfully, there are bars of gold available that are much more attainable and practical as far as size and weight go. If you’re interested in investing in gold bars, make sure to work with a reputable precious metals dealer, such as First National Bullion and Coin. Carlsbad collectors who are looking to get a feel for what’s commonly available with gold bars as they explore their purchasing options should keep reading to get the scoop on average sizes and weights for gold bars.
“Good Delivery” Gold Bars
These are the gold bars often depicted on TV shows and in the movies. These perfectly shaped shiny bars of gold that look great on camera are 400 ounces in size and weigh just over 27 pounds. However, they also come with a hefty price tag of over $700,000, and they’re not usually sold to the general public.
Standard Gold Bars in Troy Ounces
The gold bars more commonly available for purchase by the general public are weighed in units called troy ounces. A single troy ounce equals 31.1 grams. For buying and selling purposes, the London Bullion Market Association identifies four basic gold bar options:
• 1 troy ounce bars – Measuring 1.65 inches in length and 0.95 inches in width, 1 troy ounce gold bars are often more affordable for buyers, and they’re much easier to store.
• 3.2 troy ounce bars – These 100 gram gold bars are 2.17 inches long and 1.22 inches wide, and they’re still reasonably priced for most bullion buyers.
• 32.1 troy ounce bars – Converting to 1 kilogram, these bars of gold measure 3.15 inches by 1.58 inches.
• 400 troy ounce bars – If you opt for what’s also a 12.4 kg bar of gold, expect it to be 10.7 inches in length with a width of 3.72 inches.
For “good delivery” gold bars, the official recommendation from the London Bullion Market Association is 5 inches in thickness, 10 by 3.2 inches along the top part of the surface, and 3 by 2.2 inches along the base.
Deciding What’s Right for You
When considering the possibilities with what you might want to purchase, it’s best to look at more than just size and weight. Even with a standard 400 troy ounce gold bar, the overall value and quality can vary.
This is why buyers are often advised to pay attention to purity and other factors when making purchasing decisions. Fortunately, legal and official gold bars are properly marked or stamped to make it easier to tell how much gold you’re actually getting. You’ll be a more confident buyer, especially if you’re just getting ready to make some first-time purchases, if you also consider:
• How much you can realistically afford to spend for gold bars
• What you plan to do with your bars (e.g., keep and store them or buy and sell them)
• How you’ll store your gold bars if you’ll be keeping them
• What’s likely to be easier to sell if this is what you’re hoping to do with some of your purchases
When they’re looking for the best place to buy gold bars, gold bullion, and gold coins, Carlsbad precious metals collectors should 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 (760) 253-8072.
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.