Poured Bars vs. Ingots: Major Differences & Similarities
If you also assumed that all gold bullion bars are the same, you’re not alone. Most people who invest in gold are only fully aware and concerned about the pure metal content and weightage of the bullion bars.
However, it’s important to note that gold bullion bars have their unique specifications and differences that can be observed by having a close look at their manufacturing details.
Two of the most commonly produced types of gold bullion bars are poured and pressed coins—also widely known as ingots. This blog will help you learn the differences and similarities between gold-poured bars and ingots to make wiser investment decisions. Let’s dive in!
Ingots or pressed bullion bars are made by first extracting pure gold from a source. The precious metal is then cut into a specific shape and weight according to the standard dimensions set by the mints and other authorities.
After cutting is done, the gold bar is then pressed to inscribe the details of its purity, weight, manufacturing Mint, and origin. Producing ingots is a reasonably simple process, which is why precious metal investors can buy them at smaller premiums over the current market price.
The production process of gold-poured bars is a lot more complicated than gold-pressed bars or ingots. It requires heating gold until it melts and then pouring the molten gold into a cast.
When the metal cools down, it is taken out from the cast and measured to check whether it meets the standard weight and size. If the gold bar meets the standards, it’s engraved with the required mint certifications including the purity, mint’s location, source, and weight.
Despite being sold on higher premiums over the spot price, investors are found of gold-poured bars because of their authenticity and aesthetic appeal.
While ingots are famous for their perfect shine, fine edges, and quintessential styling, poured-bars are admired for their dull finishing and natural-looking imperfections.
The major difference between ingots and poured gold bars is the time and ease of production. Many mints around the globe have shifted to the pressing bars method because it helps them produce more bars in less time.
It’s also more energy-efficient as melting gold for gold-poured bars requires heating it to 1094 degrees Celsius.
Though pressing gold is ideal for making smaller gold bars, it isn’t feasible for large gold bars because most mints have small precious metal pressing machines. Therefore, for larger gold bars, most mints use the hand pouring method.
If you want to buy gold bullion bars and silver bullion bars, get in touch with Orion Metal Exchange. We are one of the top gold investment companies that can also help you buy gold and silver IRA accounts.
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