These prices may seem quite low, however, once you hit 1 ounce and. These heavy “gold” bricks are composed of 400 troy ounces of pure 24 karat gold (99.99% pure). A troy ounce is the industry standard for weighing and pricing precious metals, based on the ancient unit of weight developed by the Romans. There are also gold bars in other, more affordable sizes.
Popular sizes include the Kilo gold bar, a 32.15 troy ounce bar that weighs around 2.2 pounds and comes with one of the lowest premiums a gold investor can find. Kilos are the most popular form of stored gold and the world standard in investment bullion gold. Other sizes of gold bars include the 10 ounce gold bar, which comes from a highly recognized private label such as Credit Suisse or the Perth Mint. The advantage of the 1 kilo gold bar is that you get a larger amount of gold for a lower premium above the cash price.
Gold ranges from 1 gram to 1 kilo, making buying, transporting and storing gold much safer and more affordable. Although some people see gold as a hedge against inflation, the chart above shows how volatile the price of gold can be. What many people don't realize is that gold bars come in a wide variety of weights and sizes, allowing almost everyone to invest in a gold denomination that works within their budget. The refinery will then take the pure silver and gold and melt them into its own gold and silver bars, or sell the pure precious metal in whatever form it is.
All of these different sizes of gold bars are eligible for purchase in a precious metal IRA or private vault warehouse. The 400 oz gold bar, also known as the Good Delivery bar, is the biggest physical gold investment you can make today. Beyond the price of your gold bar based solely on its spot value, there is sometimes an additional premium for gold bars depending on your refiner. This somewhat reflects the market trends of those who also buy American Gold Eagles with bullion finish and gold rounds as collectibles.
The United States Gold Office, Directors and Representatives do not guarantee to customers that they will make a profit or guarantee that losses will not be incurred as a result of following their coin collection recommendations or settlement of coins purchased from the United States Gold Office. In this sense, it is cheaper to buy larger gold bars than to buy smaller bars with less gold content. And the one-ounce gold bar, the most common size for investors and the lowest premiums for a total investment of one ounce of gold. In addition to producing high-quality gold bars, many of these companies also minted privately minted gold coins.
For this reason, many gold traders and bullion brokers can pay a small percentage less than the actual spot price of their gold bar. The weight of one troy ounce in gold bar equals 31.1034768 grams, and 1 kg of gold bar weight contains 32,1507 troy ounces.