3 Facts About Gold Bars You Didn’t Know
Investing in gold bars is a popular strategy that can improve your finances, especially when inflation rates rise. Many people are enthusiastic about storing gold bars in banks and their homes, making it possible to increase their wealth over time. These bars are often preferred over bullion coins because they are easier to manufacture and offer the best value in terms of weight.
Let’s explore three facts about gold bars you didn’t know.
Facts About Gold Bars You Didn’t Know
People often wonder what the best investment strategy is for gold bars. Fifty grams of gold will cost the same no matter what form it’s in or who’s manufactured it, depending on its purity. However, the vast majority of gold bars are 24-carat, making them of the highest purity. Let’s explore some important facts about gold bars you probably didn’t know.
1. Two Production Methods – Casting and Minting
Gold bars can be produced using any of two different production methods, which are called casting and minting. Liquid gold is poured into a container or mold via the casting process, making it suitable for less precise requirements.
Minting is a slightly different process that involves pressing gold bars in a machine. The larger the bar, the more likely it is to be produced using the casting process, while smaller bars are typically fashioned by minting.
You might have guessed that minting gold bars gives a better appearance due to superior precision, creating higher-quality bars. However, this process requires extra work and has a higher cost, making them less suitable for investment. Larger bars don’t need to be decorated or shaped nicely, making them ideal for investors due to cheaper production costs. If you’re looking to gift gold bars and place more importance on their appearance, you may choose smaller minted gold ira rollover with certification and sealed packaging.
2. Gold Certification Is Not Important for Reselling
Many people have it in their heads that certification is highly important, but the truth is that refiners are placing less importance on it than before. This is because strict accreditations provide enough guarantee of the gold’s purity and the refiner’s craftsmanship. When looking to sell gold, you can rest assured knowing that dealers will have the necessary specialized equipment to inspect your gold bars and know their exact value.
3. Gold Bars Can Weigh up to 250kg
It may come as a surprise to know that the biggest gold bar in the world weighs 250 kilograms and costs more than 8 million USD. On the other side, the smallest gold bar weighs 1 gram and is called a biscuit, making it a nice gift for a loved one. If you’re confused about the gold measuring units, you should look up the conversion between troy ounces and grams.
Orion Metal Exchange offers security against inflation and allows you to buy bullion coins online, sell, and exchange precious metals, including gold bars, for competitive prices. Reach out to them today to learn about their latest rates and let them guide you through the entire process.