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

 

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, although it’s 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 a process that makes them different from other bars. Below, the experts from First National Bullion, the gold dealers Scottsdale collectors trust for outstanding service and industry knowledge, further explore gold ingots.

Are Ingots Generally Larger?

Ingots are generally larger bars. 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?

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. However, 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’s 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.

Where Do You Find Gold Ingots?

Gold ingots can be found at precious metals dealers such as First National Bullion. They’ll show you how to check the purity and other details to ensure 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. The only difference is the size, height, and weight of the bar(s). The value is what it is for any gold bar based on gold content and spot price or going market value. However, if you’re concerned about the value or price of your gold bars, you may wish to 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?

Lastly, make sure to store your gold ingots properly. As with any kind of gold bullion, ingots should be stored in a cool, dry place. Because ingots are larger, they’re more valuable, so you may wish to store them remotely, such as in one of our trusted First National Depositories, to protect yourself from theft or for insurance purposes. 

 

When they’re looking for the best place to buy Scottsdale gold and bullion, 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.

 

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.