How many movies have you seen where a crook runs away with a shiny gold bar? Bars of sparking and well-polished gold are shown stacked up in secure vaults like bricks. They are shiny, clean, and worth millions and trillions of dollars.
But there’s more to these sparkly gold bars that meet the eye. Want to learn more about gold, how much does a gold bar weigh, and its value? Keep reading!
What Is A Gold Bar?
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Also called gold bullion, a gold bar is composed of at least 99.5% pure gold or 0.999 millesimal fine gold content.
Most gold bars follow a standard size, form, and shape, but back in 1986, gold bars in the US were patterned as rectangular bricks.
Today, gold bars are made in a trapezoidal shape with engraved markings on the side to indicate details about its production, fineness, purity, and melt. Melt conveys information about the molten gold used to make the bar.
Contrary to popular belief, gold bars are not made from pure gold. They have other elements incorporated in them like iron, copper, platinum, and silver. These non-gold materials help in molding the gold into bars.
Categories of Gold Bars
Today, gold bars are classified into three types: cast, minted, and CombiBar.
#1. Cast Gold Bars
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Cast gold bars are the quickest and easiest to manufacture. This type of gold bar requires a mold so that the gold’s weight and size can be standardized. Once the gold is melted to its liquid form, it is evenly poured into these molds.
This gold bar is pegged to be the rawest form as it has a rugged and unpolished appearance. Most manufacturers would only have minimal engravings on every bar — the manufacturer’s name and some details about the gold bar.
Every cast gold bar is unique, thanks to its blemishes and imperfections. This contributes to a cheaper casting process because the “perfection” of every gold bar is not the ultimate goal. Due to this, manufacturers can quickly sell their bars at a more affordable price.
#2. Minted Gold Bars
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The process involved in making this type of gold bar is almost the same as that of cast gold bars. But instead of individual molds, minted gold bars are made from a long metal strip.
They are then cut into bars while removing the uneven edges of cast gold bars. These bars are individually inspected for size and weight before being cleaned and polished.
#3. CombiBar Gold Bars
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The newest addition to gold bars, the CombiBars were only recently added in 2010. The brainchild of Valcambi, Edelmetall-Service GmbH & Co. (ESG), and the German company Heimerle + Meule, these bars are smaller but remarkably more flexible.
Sized like a credit card, CombiBars are composed of 50 grams of gold, and the casting and manufacturing process is almost the same as that of minted gold bars.
How Much Does A Gold Bar Weigh?
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The atomic weight of gold is 196.96657 u, but today, gold is typically measured in troy ounces. One troy ounce is equivalent to 0.07 pounds or 31.1 grams.
Determining the exact weight of a gold bar can be difficult because factors like how it is made can alter its overall mass. Compared to other metals, however, gold is relatively heavier.
Most gold bars are manufactured in the following weights:
• 2 grams
• 2.5 grams
• 5 grams
• 20 grams
• 11.66 grams
• 20 grams
• 31.1 grams
• 50 grams
• 58.3 grams
• 100 grams
• 116.64 grams
• 250 grams
• 500 grams
• 1 kilogram
How Much Does A Gold Bar Cost?
Like stock and foreign exchange, the value of gold bars can increase or decrease with time. The base price of any gold product is identified by its gold spot price. And this gold spot price is constantly changing unless the market is closed.
The 1-ounce size is the most commonly available gold bar size and is very easy to calculate its price. For example, if the standard spot price is $500 and you have four 1-ounce gold bars, then the total price of your four gold bars is $2000.
The price of a gold bar also varies depending on factors such as inflation, gold exchange-traded funds (ETFs), interest rates, and “loco swap.”
FAQ
What Is A Gold Bar Really Worth? Its Weight Only?
A gold bar’s weight is valued primarily on its spot price. Gold dealers will add a certain percentage to that spot price to compensate for their business costs and gain profit.
While weight is a significant factor that dictates the overall worth of a gold bar, other factors like the value of the US dollar, the market demand for gold, the amount of gold in the central bank reserves, inflation, and currency devaluation can also impact the cost of gold bars.
How Heavy Is A Standard Bar Of Gold?
The standard weight of a gold bar being held as reserves in banks is 400 troy ounces or 27.5 pounds. It typically measures 7 inches x 3 and 5/8 inches x 1 and 3/4 inches.
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