These gold bars are held by central banks and bullion dealers and are generally not sold to the general public. PAMP Suisse 1-ounce gold bars from JM Bullion. These heavy “gold bricks” are comprised of 400 troy ounces of pure 24-carat gold (99.99% pure). The troy ounce is the industry standard for weighing and setting prices of precious metals, according to the ancient unit of weight developed by the Romans.
There are also gold bars in other, more affordable sizes. The most popular sizes include the Kilo gold bar, a 32.15 troy ounce bar that weighs about 2.2 pounds and has one of the lowest premiums a gold investor can find. Kilos are the most popular form of gold storage and the world standard for investment gold ingots. Other sizes of gold bars include the 10-ounce gold ingot, which comes from a well-known private label, such as Credit Suisse or the Perth Mint.
Most gold bars weigh one troy ounce. Other common sizes are 5 oz and 10 oz gold bars and 1 kilo (32.15 oz troy) gold bars. At the institutional level, you'll find the largest gold bars. Kilobars are the standard size of gold bars used by the Shanghai Gold Exchange.
Sometimes, companies such as Credit Suisse will also offer 10, 20, 50 and 100 gram gold bars. Gold bars usually sell for slightly more than the value of the underlying gold to cover the cost of production, storage, insurance and retail profit margin. While gold bars may seem small and priceless, gold is such a rare mineral that you'd be surprised how much they're actually worth. This means that every investor-quality gold ingot often contains a high percentage of gold with few impurities.
Regardless of which gold bars you choose, these products provide a means to purchase gold bars with ease and convenience. The totals of gold and silver stocks will be calculated, including the ratio between gold and silver. Minted gold bars are produced by taking white gold ingots and then stamping them with designs and inscriptions. Gold ranges from 1 gram to 1 kilo, making buying, transporting and storing gold much safer and more affordable.
For this reason, many gold dealers and bullion brokers may pay a small percentage less than the actual spot price of their gold bullion. However, the 1-ounce gold ingot is the most popular size and the one used to calculate live gold prices. One troy ounce in gold bars equals 31.1034768 grams, and 1 kg of gold bars contains 32,157 troy ounces. In this sense, it is cheaper to buy larger gold bars than to buy smaller bars with less gold content.
Gold can come in different shapes and sizes, but the actual composition of the metal is usually similar between pieces of high-quality gold. Gold prices on the international market are quoted at the price of London, it is the traditional and historic gold market in the world. Then there are the gold ingots that were manufactured by popular testers and refineries during the Gold Rush era in the United States.