One of the major causes for debates in the gold market is the subject of gold bars and their weight which is why one of the most asked questions by investors is “how much does a gold bar weigh?”
Many factors determine how much a particular gold bar should weigh. Some of the factors include regional specification, use, type, etc.
Because of these various factors, there is no specific answer to how much a gold bar should weigh.
Factors like regional specification determine each gold bar’s weight. Hence a gold bar manufactured in India is different from a gold bar manufactured in New York or London.
So to help you with determining how much a gold bar weighs, we’ve examined what a gold bar is, the different types of gold bars, and their sizes.
We’ve also stated popular gold bars and how much they weigh.
Let’s dive in!
What are Gold Bars?
Gold bars are one of the ways investors can purchase gold bullion. They are mostly used by investors who are interested in making bulk purchases.
Investors use gold bars when making bulk purchases because doing this help investors save funds.
Gold bars come in various shapes and sizes.
Classification of Gold Bar
One of the main differences in gold bars is their method of manufacture, and this is why gold bars are mainly classified into two: Cast bars and Minted bars.
Gold bars are also classified by their weight, shape, design, or specific features.
Classification by method of manufacturing
Gold bars are mainly differentiated by the method of manufacture.
There are two main methods of manufacturing gold, and they include: Casting (Cast bars) and Minting (Minted bars)
Cast bars refer to gold that is directly produced from melted gold.
Although using melted gold to create cast bars might differ, they all fall under cast bars.
One of the methods used to produce cast bars is to pour (cast) already melted gold into a mold with the appropriate dimensions for the gold bar created. A crucible is used to melt the gold before it is cast. The mold is then left alone to cool down; once it’s cold, the gold bar is removed from the mold.
The method of casting gold has been in existence for over 6000 years. It is regarded as the traditional method of creating cast bars.
The most recent method of creating small cast bars is using measured gold granules or pieces of gold. Regardless of which one of the two is being used, they are both placed in a mold with the correct dimensions and put in the furnace for melting.
Cast bars are usually rectangular, although some refineries manufacture theirs in different shapes like circles, squares, rods, etc.
Minted bars are gotten from cast bars. The cast bars are rolled until they have a uniform thickness. It’s then cut once uniform thickness has been achieved, giving us minted gold bars.
The minted bars aren’t just cut out, and a die is used to create blanks with the required dimensions and weight. The surfaces of minted gold bars are usually smooth and even.
Minted bars are usually made in rectangular shapes, but they come in other shapes like oval, square, and circle.
Classification by size
Gold bars are not only classified by their method of manufacture, but their sizes also classify them.
Gold bars classification by size are as follows:
Small Gold Bars
The gold bars that fall under this category are under 1 oz.
They are the most popular gold bars and are easily traded among various investors. If you’re on a tight budget, then this gold bar is a perfect fit.
Small gold bars are very affordable and accessible.
Here is the weight of gold bars that fall under small gold bars:
20 grams, 10 grams, 5 grams, and 1 gram.
Large Gold Bars
The gold bars which fall under this category are larger than one ounce.
These gold bars are suitable for home storage and investment. Investors who purchase large gold bars can keep them in their safe at home or deposit them in a bank safe.
The gold bars which fall under large gold bars weigh:
250 grams, 100 grams, and 50 grams.
Others in this category are gold bars which weigh: 10 ounces, 400 ounces, and 1 kilo.
When you purchase gold bars, they can sometimes come with a mark or assay card. The mark on the gold bar helps inform buyers of the gold bar’s authenticity, purity, and content in the event of a transaction.
Gold bars that do not have a mark may come with a serial number. Serial numbers are useful in determining authenticity and quality during a transaction.
Popular Standard Sizes Of Gold Bars and Their Weight
London Good Delivery 400 oz Gold Bar
London Good Delivery (LGD) Gold Bar is one of the standard-size gold bars mostly used in transactions within the London Market. It has a minimum of 99.5% purity and is manufactured in a unique shape.
This gold bar is popularly known as the 400 oz bar and ranges from 35p to 450 troy ounces. The amount paid for each of these bars depends on its exact weight in ounces when it is purchased.
Tola Gold Bar
Tola is the standard Indian weight unit, and this is why Tola Gold Bar is most popular in India. Tola Gold Bars are mostly traded in the Middle East and Indian subcontinent.
Tola gold bar weighs 3.75oz in standard measurement.
Kilobar 1000g Gold Bar
The Kilobar gold bar is one of the most traded gold bars. This gold bar caters to the International market and which is why most of them are in an international shape.
They also come in a brick form.
COMEX 100 ounce Gold Bar
The COMEX 100oz gold bar is the standard gold bar mostly used in the New York market.
The weight of this gold bar can differ from 95 ounces and 105 ounces.
Shanghai 3000 g Gold Bar
The Shanghai 3000 g gold bar is the standard-sized gold bar that is mostly used on the Shanghai Exchange market.
Troy Ounce Gold Bar
The Troy Ounce gold bar is manufactured in Australia. The weight of this gold bar varies between 50 ounces and ½ ounces.
Gold bars and Their Impact On Transactions
Since gold bars cannot be manufactured easily, they are usually of great quality.
Official gold bars manufacturers can only manufacture gold bars, which helps boost transactions.
One of the major benefits that come with gold bars is low premiums.
Gold bars have a lower premium when compared to gold coins, which is quite beneficial in a transaction.
Since gold bars are produced in large quantities, investors can easily get a higher-weight gold bar for the same amount of money.
Uses of Gold Bars
There are various uses of gold bars, and they include:
Gold bars can be used as a personal asset because of their hedge against inflation.
Gold bars can also be used as a personal asset because of the help they provide for investors (i.e. balance their portfolio)
Investors who choose the gold bar as a form of investment can easily ascertain the credibility of the gold they buy with an official assay card.
Most gold bars which are purchased usually come with an official assay card that serves as a certificate of authenticity.
The official assay card shows where the gold bar was manufactured. It also states the specifications of the gold bar like weight, purity dimension, design, etc.
Commercial Financial Tools
Gold bars can serve as a commercial, financial tool and help large corporations borrow funds at a lower rate.
Gold bars can help large corporations get lower rates when they borrow so long as these gold bars are added to the corporation’s asset holdings.
Gold is used in some governments as a reserve currency; hence it serves as a tool to help stabilize the currency and works as a settlement in international trades.
Central banks in most countries buy gold bars on the open market to shore up their balance sheet with something substantial.
Central banks buy various gold bars so they can bolster their reserve. The bars they use are mostly from the government and sometimes private mints.
While there exist various markets for selling gold bars, central banks are one of the primary sellers of gold bars.
Frequently Asked Questions About Gold Bars
Do banks sell gold bars?
Yes, few banks sell gold bars.
Most banks do not sell gold or gold bara because few banks are authorized to sell gold.
Plus, even the banks authorized to sell gold majorly sell digital gold and not physical gold bars or coins.
If you’re looking to buy your gold bars from a bank, you must first confirm that they sell gold, specifically gold bars.
How much is the largest gold bar worth?
The largest gold bar in the world is worth more than 13 million U.S Dollars.
This gold bar is officially in the official Guinness world record as the largest manufactured pure gold bar.
The largest gold bar base is 45.5 cm by 22.5 cm. It is also 17 cm high.
How heavy is a gold bar?
The weight of a gold bar is determined by various specifics like regional specifications, size, etc.
For example, most central banks’ standard gold bar used as reserves is 400 troy ounces. The standard gold bar used by most central banks is the London Good Delivery (LDG) bar. While the Tola Bar, which is majorly used in the Middle East, weighs 3.5oz.