14 Apr

All about Gold Ingots

By Jon Cavuoto

Key Takeaways:

What are ingots? Ingots are blocks of refined metal cast or minted into standardized shapes. They’re typically produced with verified purity, weight, and hallmark, making them a trusted form of physical gold ownership.
Critical to knowing what a gold ingot is is being aware that they’re of variable weights, from small one-gram bars to large investment-grade bars.
Gold ingots are primarily owned for wealth preservation because they store value over the long-term.
Buy gold ingots from First National Bullion. Our gold ingots have recognizable hallmarks, serial numbers, and certifications to prove origin and purity.

Gold Ingots: What They Are & How They Compare to Gold Bars

Have you heard of the term “ingots” before? Let’s discuss what ingots are and why they matter in your investment journey. First, note that all ingots are gold bars, but not all gold bars are ingots. Now, let’s dig into this riddle a bit more.

An ingot is still technically a gold bar, but a specific kind of gold bar. Even more precisely, it refers to a specific process regarding the way these gold bars are made. The term “ingot” refers to the mold used to create the bars. It’s this process that makes them different from other bars.

Let’s answer more commonly asked questions about gold ingots so that you’re well-equipped with all there is to know.

How Are Ingots Different From Bars?

Ingots are generally large bars. While smaller gold bars are made with stamped sheets of gold bullion or through minting, larger bars are placed in molds because it’s easier to create the bars this way due to their size and weight.

What Are the Standards for Gold Ingots?

Having defined what gold ingots are, it’s important to know exactly how they’re made to be different from bars.

Gold ingots are made based on rules established by the London Bullion Market Association (LBMA). According to the LBMA, gold bars, including ingots, must contain at least 99.5 percent pure gold.

Gold ingots can come in an assortment of sizes. Good Delivery Bars (classified as ingots) are required to weigh 350–430 troy ounces, or 11–13 kilograms. The bars should also be ingot- or trapezoid-shaped with a height of 25 to 45 millimeters.

What is the Value of a Gold Ingot?

Good Delivery Bars are like any other gold bars in that they have no fixed price. Gold ingots are based on the spot price of gold at any given moment. To find the value of a gold ingot, simply multiply the gold content of the ingot by the current spot price of gold, derived from a gold price chart.

Where Do You Find Gold Ingots?

Having now understood what ingots are, do you know where to find them?

Gold ingots can be found at precious metals dealers such as First National Bullion. Explore our inventory to find an ingot that appeals to your preferences. If you need help with choosing or clarification about its gold content, we’ll show you how to check the purity and other details so that you can be confident you’re getting a true ingot.

Does It Matter if You Buy Bars or Ingots?

No, not really. It depends on what works for your investment goals and budget. Going by what ingots are, the only difference between them and standard bars is their size, height, and weight. The value of any bar or ingot is based on gold content and spot price or ongoing market value.

For new buyers who would prefer to start their investment journeys slowly, start with smaller bars that are minted or made from sheets of gold bullion. These bars are cheaper and recommended for anyone just getting started with gold investments.

How Do You Care for Gold Ingots?

Make sure to store your gold ingots properly. As with any kind of gold bullion, ingots should be stored in a cool, dry place. And, with them being larger, hence more valuable, you may want to store them remotely, such as in one of our trusted third-party depositories, to protect them from theft or for insurance purposes. Create your account to start making storage arrangements.

Build Your Wealth with Gold Ingots

Understanding what are ingots is an important first step for individuals interested in precious metals investing. Whether you’re looking to know what a gold ingot is for the first time or comparing different physical gold formats, ingots are a reliable, straightforward way to own refined good with recognized purity, weight, and value. However, for this guarantee, its best to purchase your ingots from recognized precious metals dealers.

First National Bullion is a trusted dealer with over 19 years of industry experience. We maintain an extensive inventory of physical bullion in our online and physical stores providing a reliable source of metals for every step of your investment or collection journey. Explore our metal collections today.

We’ll also 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.

FAQs

What are gold ingots used for?

Gold ingots are commonly purchased to safeguard wealth, spread investment risk, hedge against inflation, and to own a tangible asset outside the traditional financial system. In addition to private investment, gold ingots are also held by central banks and used in a variety of manufacturing and industrial processes.

What is the purity of a gold ingot?

Most investment-grade gold ingots have a purity of at least 99.5% (995 fine), while premium bullion products are refined to 99.99% (999.9 fine). You’ll find the purity, weight, and refiner’s stamp engraved directly on the gold ingots to verify their specifications and authenticity.

How can I tell if a gold ingot is authentic?

It’s simple. A genuine ingot will have:

A recognized mint logo
Purity and weight markings
Precise dimensions and weight
Unique serial numbers, particularly for large bars
An assay certificate for some

Buying from a trusted dealer like First National Bullion is actually the first way to ensure that you’re buying the real thing. Our products go through intense verification procedures to secure our clients’ confidence.

Are gold ingots a good investment?

Yes, they are. Many investors consider them a reliable long-term investment asset because they get direct ownership of physical gold. Also, they help to diversify a portfolio, preserve purchasing power during inflation, and effectively hedge against financial shocks.