Valuable gold bars, also known as gold bullions and gold ingots, come in various dimensions and are among the most popular investments worldwide. Unlike other precious metals, gold is famous as a safe backing, and you have probably heard that gold bars saved whole countries from debt throughout history.
Besides, many people buy one or a few bars from a bank or a bullion dealer when deciding to invest in gold. This piece is practical, and keeping it is more comfortable than finding a place for a bunch of cash. Now, let’s check all crucial information about gold bar weight & size.
What Is a Gold Bar?
Bar producer makes gold bars of refined metallic gold. When they make these precious bricks, it is essential to meet required labeling, manufacturing type, and record keeping.
A manufacturer also needs to provide a certificate of authenticity, a seal on paper that verifies the product’s originality. That way, it prevents bars from being stolen or counterfeited. Nowadays, there are computer certificates of authenticity with a license number to show that a product is legal.
You can also hear the term gold ingots, referring to larger bars that got their name from the ingot molds. Unlike smaller bars created by stamping or minting from rolled gold sheets, larger bars result from pouring molten metal into ingots.
Finally, gold bullion refers to a non-ferrous metal that doesn’t contain iron. The word bullion comes from the French term bouillon, meaning boiling. It was a raw material used for coin production in the past. These coins are still considered an excellent investment.
The history of the gold bar holds many famous legends. One story explains that the ingot was a standard in pre-Roman times.
Roman author Tacitus mentioned that Cesellius Bassus convinced Emperor Nero that his dream about shapeless gold ingots used in the early ages is true. Even though they never found that particular gold, it is evident that ingots existed even back then.
Much later, during Brazilian Gold Rush from the 17th to 19th century, gold ingots and bars were used as a legal currency in colonial Brazil. The most famous discovery was Joao VI Prince Regent’s gold ingot weighing 90.2 g (2.9 troy ounces), with an imprinted production number, gold fineness, year, foundry, and assayer’s monogram.
Spain was one more country that had benefits from gold bars. Treasure hunter Mel Fisher found a shipwreck Nuestra Senora de Atocha in 1985 near the Florida Keys. He discovered gold bars along with Colombian emeralds and silver that the Spaniards used in trade.
After the California Gold Rush that started in 1848, gold became the foundation of the US economy. In 1854, gold bullion was used for making official US gold coins after building the San Francisco Mint. Nowadays, the Federal Reserve Bank of New York keeps 497,000 gold bullion bars weighing 6,190 short tons.
Gold Bar Weight
The best way to measure gold bar weight is in troy ounces. You should know to differentiate the following measurements:
- One troy ounce is equivalent to 31.1034768 g in gold bar weight
- One kilogram of gold bar weight is 32.1507 troy ounces
You can use any of the online calculators to precisely determine used measurements. Keep in mind that the standard bar weighing about 400 troy ounces or approximately 438.9 ounces (12.4 kg) is well-known as a Good Delivery gold bar.
Even though this value is recommended and widely used, you can still find different weight standards for the gold bar. For instance, the internationally accredited central bank requires a four-hundred-ounce bar weighing between 350 to 430 troy ounces (10.9 – 13.4 kg).
Believe it or not, this variation in gold bar weight can change its value by at least $100,000. Accordingly, you should be well informed about the gold bar weights before investing in this valuable brick.
Most large bars are made accordingly to precise measurements, and some of the largest can weigh 96 or 100 troy ounces (3 – 3,11 kg). Likewise, you can find small bars available on the market with more than fifty different cast or minted weights.
The world’s most used traded small, internationally shaped gold bars weigh 1 kilobar or 32.15074656 troy ounces (1,000 g). The most common bricks’ gold purity is 99.99%, 99.9%, and 99.5%.
Gold Bar Size
Even though gold bar weight is defined as an international standard for a gold bar by the London Bullion Market, you should also pay attention to its size. The dimensions of a gold bar are concerned with its width, length, and depth or thickness.
Gold bar dimensions
|1 troy ounce (31.1 g)||1.65 inches (4.2 cm)||0.95 inches (2.4 cm)||0.08 inches (0.2 cm)|
|3.2 troy ounces (100 g)||2.17 inches (5.5 cm)||1.22 inches (3.1 cm)||0.12 inches (0.3 cm)|
|32.1 troy ounces (1 kg)||3.15 inches (8 cm)||1.58 inches (4 cm)||0.71 inches (1.8 cm)|
|400 troy ounces (12.4 kg)||10.7 inches (27.2 cm)||3.72 inches (9.45 cm)||2.03 inches (5.1 cm)|
Keep in mind that a standard gold bar of 400 troy ounces (12.5 kg) measurements can vary, and they usually range from:
- Length is 8.3 to 11.4 inches (21 – 29 cm)
- Width is 2.2 to 3.3 inches (5.5 – 8.5 cm)
- Height is 0.98 to 1.77 inches (2.5 – 4.5 cm)
Even though these are the most common sizes for gold bars, the London Bullion Market also recommends dimensions for London Good Delivery of:
- 10 by 3.2 inches (25 x 8.8 cm) for the top surface
- 3 by 2.2 inches (26 x 5.5 cm) for the bottom surface
- 5 inches (3.8 cm) in thickness
Secure Gold Bar Purchase
When deciding to purchase gold bars, you need to consider some of their primary characteristics, including:
Before purchasing a gold bar, always ensure that the gold is pure, particularly when buying it for investment purposes. In such a case, you should always go for 24K gold even though its price is higher than for the lower karats. That way, you can also count on getting a high price when deciding to re-sell it.
Since some gold bars may have +/- purity tolerance levels, you will get the precise value after checking it thoroughly.
Your best shot is to purchase gold bars refined at famous refineries. That way, you can be sure that the bar is of the highest purity level.
Choose the gold bars with power denominations since it helps to maintain liquidity. The denomination range is:
- 002 pounds (1 g)
- 02 pounds (10 g)
- 04 pounds (20 g)
- 11 pounds (50 g)
- 22 pounds (100 g)
- 2 pounds (1 kg)
- 1 troy ounce (31.1 g)
- 10 troy ounces (311 g)
- 100 troy ounces (3.11 kg)
Always keep the gold bar in the packaging. It will help maintain the gold bar purity.
Returning the gold bar
Be careful when buying gold bars online since the exchange policy for gold is stricter than for other items. Therefore, go through the terms and conditions before purchasing the gold bar to make sure the return policy is available.
As one of the most important tips is to make sure the gold bar has a certification. Be careful and always look for the Hallmark certification before purchasing a brick online.
Kinegram is a hologram used for visual appeal and security reasons. Its existence on a kinebar, the gold bar with the kinegram, is a sure sign of authenticity.
Interesting Facts about Gold Bars
The world’s largest gold bar
Mitsubishi Materials Corporation manufactured the world’s largest gold bar. This Japanese company’s gold bar weighs 551 pounds (250 kg). Its base is 17.9 by 8.8 inches (45 x 22.5 cm), while its height measures 6.6 inches (17 cm).
This gold bar was displayed at Toi Gold Museum in Japan in 2005 when it was valued at 400 million yen ($3,684,000 at the time). Even without counting the premium of being the world’s biggest gold bar worldwide, it is estimated at a remarkable $16,100,000 nowadays.
Gold bars are a pure gold reserve
You have probably known that gold jewelry is never made of 100% gold since this precious metal is too soft for this purpose. Therefore, you can find pieces made of 10K, 14K, or 18K, depending on the added alloy.
On the other hand, gold bars, including those kept in the US Bullion Depository, Fort Knox, always contain 99,95% pure 24K gold.
The largest gold bar reserve
Nowadays, the US Federal Reserve Bank in New York is the largest physical gold storage place worldwide, holding foreign governments’ gold.
In 1973, there were stored 11,000 metric tons (12,000 short tons) of gold bars. However, that amount decreased to only 5,620 metric tons (6,190 short tons) or 497,000 gold bars in 2019.
It is estimated that this will undoubtedly change since Asian countries and Russia continuously buy gold.
Whether you want to invest money for professional or personal reasons, standard gold bars are your golden opportunity. Unlike gold jewelry, these bars contain approximately 99.95% pure gold and are a proven and certified option that your investment will pay off in the future.