Jump To: Intro | How Heavy? | What Is a Gold Bar? | Categories of Gold Bars | FAQs
Intro
If you are wondering how much a gold bar weighs, you might be surprised to know that the answer to that question actually depends. Mints from across the globe produce gold bullion bars for investment in different weights and sizes. The idea is to create a variety of outputs to accommodate the investment needs of as many investors as possible.
More experienced investors with larger portfolios might favor larger gold bars for convenience in shipping and storage. New investors, or those who are on a strict budget but yet are willing to benefit from the pros of investing in physical gold bullion, will often consider smaller gold bars.
Most refineries use troy ounce as a unit of weight for gold. A few of them, such as the Chinese Mint, are starting to use grams and kilos. While adjusting to the international measurement system can be seen as a way to facilitate international sales, troy ounces have been used to measure precious metal products since the Middle Ages. It is still the most common unit for bullion to this day. 1 troy ounce is equal to 31.1035 grams or 1.097 regular ounces (also called avoirdupois ounce).
This article will discuss what actually constitutes an investment-grade gold bullion bar. We will elaborate on the diverse number of gold bar sizes available on the market today and how much they cost. Finally, we will compare those gold bars with everyday objects, so that you have a sense of volume per weight.
How Heavy Is Gold?
Gold has an atomic weight of 196.966569 u. It has a density of 19.3 g/cc (grams per cubic centimeter). That means that each cubic centimeter of gold weighs 19.3 grams or 0.62 troy ounces. In comparison, aluminum has an atomic weight of 26.9815385 u and a density of 2.7 g/cc. That means that, for the same weight in gold, aluminum would take a volume 7 times greater.
For instance, a 1-kilo gold bar cast fits perfectly on the palms of your hands. However, it would take the mass of approximately 70 aluminum soda cans to reach the same weight.
Gold is close to two times denser than silver. In other words, 1-kilo silver bars are almost twice thicker than a bar with the same gold weight.
What Is a Gold Bar?
But what exactly is a gold bar? In terms of investment, a gold bar should be 99.9% pure gold, or .999 millesimal fine gold content. Physically, a gold bullion bar can be either minted or cast.
Check also: How to Buy Gold Bars
A cast gold bar is simpler to produce. Manufacturers pour molten gold into a mold to form a cast and just let it harden and cool down. That is sometimes referred to as a gold ingot. Simple engravings are done on the face of the bar, usually just the brand’s logo, weight, and purity level.
Minted bars, however, have a longer and more time-consuming process. Larger casts are done first, but they undergo a pressing process through a compressing machine to give it a really uniform shape. Then, strips from a precise length, width, and thickness are cut from that gold brick. They form what is called blanks. The last part of the process is to soften the blanks again and strike them on a minting press to give them obverse and reverse designs.
Categories of Gold Bars
As we have mentioned before, in order to meet different consumer needs, mints from around the world choose to produce a variety of weights and sizes for gold bars. Let’s take a look at those, list the most common sizes, and analyze the advantages of each category.
Small Bars
Smaller bars are typically preferred by small investors who just want to purchase a small quantity of gold and are, maybe, just dipping their toes into the bullion market. That’s the thing about the gold market. It is not something exclusive to big investors with large portfolios. Anyone can take advantage of the long-term benefits of investing in gold with these smaller-sized gold bars. Some of which cost less than $100!
These are the most common sizes considered “small gold bars”:
- 1/100th troy ounce;
- ½ gram (0.016 troy oz);
- 1 gram (0.032 troy oz);
- 2 grams (0.064 troy oz);
- 2,5 grams (0.80 troy oz);
- 5 grams (0.16 troy oz);
- 10 grams (0.32 troy oz).
Medium Bars
Medium-sized gold bars are the number one choice of seasoned investors. They are usually the most sought-after products and the most popular choices. Given the high demand for these sizes, they are also considered the most liquid option because they are easier to resell.
Here’s a list of those gold bar sizes:
- 20 grams (0.64 troy oz);
- 1 troy oz;
- 50 grams (1.6 troy oz);
- 100 grams (3.22 troy oz).
Large Bars
The following list consists of larger gold bars that are favored by those who are looking to acquire the purest gold for their dollar invested. The reason being that the larger the bar, the smaller the premium investors will pay.
- 5 troy oz;
- 250 grams (8.04 troy oz);
- 10 troy oz;
- 500 grams (16.08 troy oz);
- 1 kilogram (32.15 troy oz).
We have stopped the list on 1-kilo gold bars, but it is possible to find larger options at LBMA (London Bullion Market Association). In gold, you could even purchase a 400 oz gold bar or a “good delivery bar”. These “good delivery bars” are listed by LBMA and should meet a range of standards to be included:
- fine gold weight;
- purity
- physical appearance (markings and surface quality);
- reliability of the brand.
FAQs
How much does a bar of gold cost?
The price of a gold bar is based on the gold spot price. The spot price is a base value attributed to 1 troy ounce of gold and is an average price from products being sold at mercantile and derivatives markets, such as COMEX, NYMEX, and LBMA. The spot price of gold fluctuates during business days. Precious metal dealers will charge a percentage over the spot value for each product. That percentage is called a “premium” and the final price is referred to as the “ask price”.
Read more: How Much is a Gold Bar Worth
How heavy is a standard bar of gold?
The standard bar is usually the 1 oz gold bar. That is the most popular size among investors and usually the most liquid option. 1 troy oz is equal to 31.1035 grams or 1.097 regular ounces (also referred to as the avoirdupois ounce).
What is a gold bar really worth? Its weight only?
The weight of a gold bar is valued based on the spot price of gold. Bullion dealers will add a percentage over that price in order to cover business costs and still make a profit. Depending on the private mint that has manufactured the gold bar, the premium might be higher. Well-established and regarded private mints, such as PAMP and Valcambi Suisse, tend to draw higher premiums than smaller, lesser-known mints.
How big is a gold bar?
The standard gold bar size and weight measured about 7 x 3 5/8 x 1 3/4 inches, at least that is according to the US Mint. The most considerable gold bar weight comes in at about 400 troy ounces. In a cumbersome gold bar weight that is often called a Good Delivery gold bar.
SD Bullion
If you are considering making an investment in physical gold, be it a gold bar or gold coin, such as the United States Mint American Gold Eagle, check out the products we have available in our inventory. We have a range of gram gold bar options and ounce gold bars to meet the needs of both new and seasoned investors. Contact our customer support at 1(800)294-8732 or at sales@sdbullion.com. You can also talk directly to one of our agents through our live web chat feature on the bottom right of your screen. We are available from Mondays through Thursdays, from 8 a.m. to 6 p.m. EST, and on Fridays from 8 a.m. to 5 p.m. EST.
