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 Gold Bars

Gold Bars

Buy Gold Bars

At the intersection of Gold Vault Road and Bullion Boulevard in Kentucky, the United States Bullion Depository at Fort Knox securely stores a large portion of the nation’s gold reserves in the form of gold bars.  At 33 Liberty Street in New York, NY, the Federal Reserve Bank securely houses the world’s largest repository of gold bars belonging to foreign central banks. Just as central banks around the world store gold reserves in bars, investors accumulate personal reserves of gold bars they buy to store wealth, hedge against inflation, and mitigate risk.

What exactly is a gold bar and why buy gold bars instead of coins?  A gold bar, ingot, or wafer is refined high-quality gold bullion minted or poured in various weights of accurate purities for investment purposes.  Gold bars are an inexpensive way to own physical gold. They are preferred over gold coins by investors strategizing to buy more affordably priced gold bullion with smaller premiums.  Gold coins are more expensive due to higher manufacturing costs. Gold bars, unlike coins, have unique serialized identification numbers that allow for detailed management of investment portfolios.

Buying gold bars allows investors to act as the Chair of the Board of Governors of their Personal Reserve Bank by taking physical possession of real money in exchange for fiat specie.  Investors choose the brand, style, and weight when buying new gold bars from Goldmart’s varied selection compiled for unique financial strategies and differing personal preferences.


Gold Bar Brand

Gold bars are fabricated globally by a few sovereign mints and a multitude of private refineries.  

Governments of stable nations authorize the state operated mints to issue bullion bars and guarantee the gold content.  The Government of Canada, for example, assures the gold purity and weight of the 1 oz RCM Gold Bar fabricated by the Royal Canadian Mint.  

Private refineries operating internationally mint investment-grade gold bars.  It is important to buy gold bars refined and fabricated by the most trusted private mints, such as PAMP SA or Valcambi SA, that are ISO 9001:2008 certified and accredited by major global commodity markets, such as the London Bullion Market Association (LBMA).

Gold Bar Style

Refiners use two different methods to fabricate gold bars – either minted or cast.  Cast bars are the result of molten gold solidifying in an open-mold of specified dimensions.  Minted bars are the result of a die cutting blank plates to exact dimensions from a continuously cast bar of a uniform thickness.  The style is simply a preference of the buyer. The premiums of cast bars, such as the 100 g PAMP Suisse Cast Gold Bar, are lower due to cheaper manufacturing costs than the premiums of minted bars, such as the 100 g PAMP Suisse Fortuna Gold Bar.

Gold Bar Weight

Internationally traded gold bars are weighed in either grams or troy ounces.  They are produced in sizes categorized as large bars or small bars. A large bar weighs over 1000 grams and includes the LBMA accredited 400 troy ounce Good Delivery Bar.  A small bar weighs 1 kilogram or less and is available in a variety of sizes including 1 ounce, 50 gram, 100 gram, 5 ounce, and 10 ounce weights. Investors who buy heavier gold bars receive greater economies of scale with lower premiums than lighter bars but do not experience as much flexibility or ease when liquidating.

Gold Bar Purity

The purity of a 24 karat gold bar is expressed either as a percentage (e.g. 99.99%) or as its millesimal fineness – the number of parts gold per 1000 parts (e.g. 999.9 fine).  The acceptable purity of large bars varies within predefined ranges among global exchanges.  For instance, LBMA standards dictate that the millesimal fineness of accredited 400 troy ounce Good Delivery Bars assay between 995.0 and 999.9.  The purity of small bars varies worldwide. However, the international purity standard for traded small bars is 99.99% or a millesimal fineness of .9999.

Gold Bar Prices

The price of gold bars is comprised of two separate values: the melt value of the gold content and the premium of the product.  

The melt value is the monetary worth of the gold calculated by multiplying the total weight of pure gold in troy ounces by the intraday spot price of traded gold (XAU).  

The premium or mark-up charged by mints, wholesale distributors, and retail vendors consists of all overhead costs incurred in manufacturing, storing, and distributing the gold bars and any gain or profit.  The brand, style, and weight are also determining factors of the premium per ounce. The total premium is calculated by multiplying the per troy ounce cost above the spot price of gold by the total weight of pure gold in troy ounces.  For example, the price of a 10 troy ounce gold bar with a $1000 spot price and $20 premium per ounce would cost $10200.

Gold Bar Assay Card and Assay Certificate

Gold bars are sealed in assay cards or come paired with assay certificates.  The card or certificate of authenticity verify an independent assay of the gold was performed and the resultant purity and weight met or exceeded that claimed by the manufacturer.  Assay cards securely seal the gold bars within blister packaging, protecting them from illicit tampering and nominal wear, while assay certificates are simply verification documents accompanying their matching gold bars.

Gold Bar IRA

Investors diversifying individual retirement accounts can buy select gold bars that meet IRS requirements for inclusion in precious metal IRAs.  Gold bars must be at least 99.50% pure or have a millesimal fineness of .995. They also must be manufactured by a private mint that is COMEX/NYMEX listed and ISO 9001:2008 certified or by the sovereign mint of a stable government.  All gold bars available for sale by Goldmart are eligible for precious metal IRA investments.