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Gold bar

From Wikipedia, the free encyclopedia
For other uses, see Gold bar (disambiguation).
"Gold brick" redirects here. For other uses, see gold brick (disambiguation).

Good Delivery gold bar weighing 12.4 kilograms (400 ozt)

A gold bar, also known as gold bullion or a gold ingot, refers to a quantity of refined metallic gold that can be shaped in various forms, produced under standardized conditions of manufacture, labeling, and record-keeping. Larger varieties of gold bars, produced by casting molten metal into molds, are called ingots. Smaller bars are often created through minting or stamping from rolled gold sheets. Central banks typically hold the standard 400-troy-ounce (438.9-ounce; 27.4-pound; 12.4-kilogram) Good Delivery gold bar in their gold reserves and it is widely traded among bullion dealers. Additionally, the kilobar, weighing 1,000 grams (32.15 troy ounces), and the 100-troy-ounce (109.7-ounce; 6.9-pound; 3.1-kilogram) gold bar are popular for trading and investment due to their more manageable size and weight.[1] These bars carry a minimal premium over the spot price of gold, facilitating small transfers between banks and traders. While most kilobars have a flat appearance, a preference for brick-shaped bars exists among some investors, particularly in Europe.[2]

Types

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A minted bar (left) and a cast bar (right)

Gold bars are classified based on their production process into cast or minted forms, each differing in their appearance and market value.[1] Cast bars, similar to ingots, are formed by pouring molten gold into a mold shaped like a bar, then allowing it to cool and solidify. This method often results in bars with irregular shapes and uneven surfaces, granting each bar a unique identity and making them easily recognizable. Due to their relatively simple production process and minimal handling, cast bars are generally less expensive than their minted counterparts.

Minted bars are made from gold blanks, which are precisely cut from a flat gold sheet to achieve the desired dimensions. These bars are characterized by their smooth and uniform surfaces, reflecting a more refined and labor-intensive manufacturing process.

Security features

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Manufacturers have developed measures to ensure the authenticity of gold bars and to protect them against counterfeiting or theft. The most prevalent method involves marking bars with unique registered serial numbers or issuing a certificate of authenticity. Some refineries emboss even the smallest bars with serial numbers, which should correspond with the numbers on their associated certificates.[3]

In contrast to cast bars, which may be handled directly, minted bars are typically enclosed in protective packaging or equipped with tamper-evident technology to deter tampering and prevent damage. Additionally, a security feature known as a Kinegram, a type of hologram, can be embossed directly onto a gold bar. Bars containing this feature are referred to as Kinebars.[4]

  • 1 oz diffractive kinebar
    1 oz diffractive kinebar
  • Bar in protective casing
    Bar in protective casing

Standard bar weight units

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Gold prices (US$ per troy ounce), in nominal US$ and inflation adjusted US$ from 1914 onward

Gold is measured in troy ounces, often simply referred to as ounces when the reference to gold is evident. One troy ounce is equivalent to 31.1034768 grams. The troy ounce is heavier than the avoirdupois ounce, a commonly used unit for measuring weight in the United States customary system.[5]

The standard gold bar held and traded internationally by central banks and bullion dealers is the Good Delivery bar with a 400 ozt (12.4 kg; 27.4 lb) nominal weight. However, its precise gold content is permitted to vary between 350 ozt (10.9 kg; 24.0 lb) and 430 ozt (13.4 kg; 29.5 lb). The minimum purity required is 99.5% gold. These bars must be stored in recognized and secure gold bullion vaults to maintain their quality status of Good Delivery. The recorded provenance of this bar assures integrity and maximum resale value.[6]

  • One tonne = 1,000 kilograms = 32,150.746 troy ounces.
  • One kilogram = 1,000 grams = 32.15074656 troy ounces.
  • One tola = 11.6638038 grams = 0.375 troy ounces.
  • One tael = 50 grams.[notes 1]

Manufacturers

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Manufacturer Bar sizes
Grams Ounces Taels Tolas
1 2 2.5 5 10 20 50 100 250 500 1,000 1⁄10 1⁄4 1⁄2 1 2.5 5 10 100 400 1 1 2 3 5 10
Baird & Co.[7] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Emirates Gold[8] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Heraeus[9] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Metalor[10] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
PAMP[11][12] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Perth Mint[13] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Royal Canadian Mint[14][15] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Royal Mint[16] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Umicore[17] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
Valcambi[18][19] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY
UBS[20] Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY Green tickY

Largest gold bar

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The world's largest gold bar at the Toi Gold Museum.

The world's largest gold bar stands at 250 kg (8,038 ozt), measuring at the base 455 mm × 225 mm (17.9 in × 8.9 in) and 170 mm (6.7 in) high with 5 degree draft angle (equal to 15,730 cm3 or 960 cu in). It was manufactured by the Mitsubishi Materials Corporation, a subsidiary of Mitsubishi. It went on display at the Toi Gold Museum on 11 July 2005. Its gold content was valued in 2005 at 400 million yen (approximately US$3,684,000 at the time).[21][22][23] As of August 2024, it is worth approximately US$20.1 million.[24]

See also

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Explanatory notes

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  1. ^ This is the official rate of taels in mainland China since the country implemented the metric system. In Taiwan and Hong Kong, a tael is equivalent to 37.429 g.

References

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  1. ^ "US and European Gold Trading".
  2. ^ "What is a gold bar?". Archived from the original on 19 June 2010. Retrieved 31 July 2010.
  3. ^ "Frequently Asked Questions". PAMP. Retrieved 24 April 2019.
  4. ^ "KINEBARS®" (PDF). Gold Bars Worldwide. Archived (PDF) from the original on 4 March 2016. Retrieved 15 May 2017.
  5. ^ Rothans, John (24 June 2022). "What Is a Troy Ounce?". U.S. Money Reserve. Archived from the original on 7 November 2024. Retrieved 7 November 2024. A troy ounce is 31.1034768 grams, ... The avoirdupois system is still used only in the United States. Here it ... is also used as the basic unit of measurement for all weights, ... A troy ounce is heavier than a standard U.S. (avoirdupois) ounce.
  6. ^ "Full List of Official Good Delivery Rules". lbma.org. Archived from the original on 30 March 2012. Retrieved 11 April 2012.
  7. ^ "Baird & Co | Gold Bars". Baird & Co. Archived from the original on 1 December 2017. Retrieved 10 May 2017.
  8. ^ "Investment Bars : Rectangular Gold Bar". Emirates Gold. Archived from the original on 19 May 2017. Retrieved 10 May 2017.
  9. ^ "Gold bars". Heraeus. Archived from the original on 19 October 2016. Retrieved 10 May 2017.
  10. ^ "Metalor Gold Bars". BullionByPost. Archived from the original on 23 June 2016. Retrieved 10 May 2017.
  11. ^ "Cast Bars". PAMP. Archived from the original on 6 June 2017. Retrieved 10 May 2017.
  12. ^ "Minted Ingots". PAMP. Archived from the original on 6 June 2017. Retrieved 10 May 2017.
  13. ^ "Perth Mint Spot Prices". Perth Mint. Archived from the original on 16 April 2017. Retrieved 10 May 2017.
  14. ^ "Gold Wafers | The Royal Canadian Mint". www.mint.ca. Retrieved 21 August 2019.
  15. ^ "The Mint's Refinery Services | The Royal Canadian Mint". www.mint.ca. Retrieved 21 August 2019.
  16. ^ "Gold Bars | Buy Gold Bars | Royal Mint Bullion". The Royal Mint. Archived from the original on 17 June 2017. Retrieved 10 May 2017.
  17. ^ "Investment Bars Gold". Umicore. Archived from the original on 13 May 2017. Retrieved 10 May 2017.
  18. ^ "Good Delivery Gold bar". Valcambi. Archived from the original on 10 June 2017. Retrieved 10 May 2017.
  19. ^ "1 g Minted Gold bar". Valcambi. Archived from the original on 8 May 2017. Retrieved 10 May 2017.
  20. ^ "UBS Gold Bars - Suisse Gold - Precious Metals Dealers".
  21. ^ "Historical Exchange Rates". OANDA Services. Archived from the original on 2 February 2011. Retrieved 14 January 2010.
  22. ^ "Three Diamonds Cast Gold-Medal Gold Bar". The Japan Journal. November 2005. Archived from the original on 22 July 2011. Retrieved 10 March 2010.
  23. ^ "Mitsubishi makes record-size gold bar". Japan Times. 17 June 2005. Archived from the original on 31 May 2015. Retrieved 10 March 2010.
  24. ^ "Gold Spot Price". GoldHub. World Gold Council. Retrieved 18 August 2020.
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