Gold Bar Price Basics
The base prices of all gold products are determined by the gold spot price. The gold spot price is a live price, meaning the price for gold is constantly changing (unless the market is closed of course). Since January 2018, the price for gold has not gone below $1,250 per ounce. In late 2019 to early 2020, the gold price has risen to levels as high as $1,650 per ounce.
Now, the price of gold bars is not exclusively determined by the spot price. In fact, it is exceedingly rare for a bullion dealer to have gold bars available at spot price. Every gold bar will have some sort of premium on top of the inherent value of the gold they contain. Depending on the dealer and the mint of the bars, these premiums can vary wildly. I will talk about the latter later in this post.
Check out our blog post on How to Buy Gold Bars
Different Sizes of Gold Bars
Obviously, different sized gold bars are going to have differing prices. Gold bars can be minted in sizes ranging from 0.5 grams all the way up to 250 kilograms- which is the weight of the largest gold bar in the world. When the average person thinks of a gold bar, they would most likely picture a 400 oz bar, which is considered the “standard” weight for gold bars. A 400 oz bar is also nicknamed a “Good Delivery Bar”. They are nicknamed this because they meet the standards set by the London Bullion Market Association.
More practical gold bar sizes are typically much less than 400 oz. The most commonly traded gold bar weights are kilo bars and lighter. The most common weights are 1 oz, 5 oz, 10 oz, kilogram, and other various gram bars.
What Are Gold Bar Premiums?
Generally speaking, this added cost over the spot price for any bullion derives from a number of factors, including the production, storage, and overhead costs incurred by the mint/refinery in producing the coin, plus a "mark-up" indicating the selling cost and the profit for the wholesaler selling the coin to a retailer.
Some premiums are a set monetary amount over the spot price, while other premiums can be a set percentage over the spot. Set monetary premiums are most common among bullion items that are 1 oz in weight.
Premiums to Expect
***All premiums below are as of February 2020.***
Gram gold bars will have much higher premiums compared to larger sized bars because they have similar minting costs to the larger sizes but have less gold content
1 gram gold bar = $9.99 over spot
5 gram gold bar = 1.3% over spot
10 gram gold bar = 1.6% over spot
20 gram gold bar = 1.8% over spot
50 gram gold bar = 2.2% over spot
100 gram gold bar = 1.1% over spot
For one ounce bars, the premiums vary depending on the quality and mint that they come from.
1 oz Random Design Bars = As Low As $13.99 Over Spot
1 oz Random Design Bars in Assay = As Low As $10.99 Over Spot
1 oz Gold Bars from Specific Mints = As Low As $17.99 Over Spot
5 oz PAMP Suisse = 1.7% over spot
Random Design 10 oz Gold Bars= $14.99 over spot
10 oz PAMP Suisse Gold Bars = $19.99 over spot
1 Kilo RCM Gold Bar = $11.99 over spot
Purchase all of the gold bars listed above at the lowest price online from SD Bullion today! You can place your order through the website or call us at 1-800-294-8732 and have an experienced bullion dealer assist you with your purchase!