07/21/2024 11:54:10 PM
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Gold Bars by Weight

Gold Bars by Weight

Gold is among the most popular precious metals on the market. It’s also among the most diverse as gold is available in rounds, coins, and bars. Gold bars offer collectors and investors a great variety of bars in different weights, purity, and interesting styles. Gold bars are available in a number of sizes depending on the needs of your portfolio. Learn more about the unique sizes we carry here at Provident Metals.

Common Sizes

The most common weights purchased are 1 oz and 10 oz gold bars. However, gold bars are available in an array of sizes. At Provident Metals, you’ll find gold bars in all types of sizes, such as the following:

  • 1 Gram (0.03215 Troy oz)
  • 2.5 Grams (0.08038 Troy oz)
  • 5 Grams (0.16075 Troy oz)
  • 10 Grams (0.32151 Troy oz)
  • 20 Grams (0.64302 Troy oz)
  • 1 oz
  • 50 Grams (1.60754 Troy oz)
  • 100 Grams (3.21507 Troy oz)
  • 10 oz
  • 1 Kilogram (32.1507 Troy oz)

Types of Gold Bars

While there are many different sizes to choose from, there are primarily two types of gold bars that are the most popular on Provident Metals.

  • Minted Ingots: Typically, minted ingots are in smaller sizes ranging from 1 gram to 10 oz. Minted Ingots have sharp and refined shapes and edges. A machine uses thousands of pounds of pressure to engrave design elements into these bars. They usually are shipped with a sealed assay card as well.
  • Cast Bars: Cast bars can come in all types of shapes and sizes, however, 1 kilogram bars offer the most bang for your buck. Gold is heated to its liquid form and then poured into a mold. Once the gold takes shape and is cooled, design elements are struck incuse on one side of the bar.

Popular Mints and Designs

The price of gold over the last century has increased greatly. This price increase has led to an increase in popularity among collectors and investors looking to get into the bullion market. Its popularity has led to it becoming one of the more diverse metals on the market serving as a great way to diversify any investment portfolio.

While Provident Metals offers an array of unique products, among the most popular options are:

  • PAMP Suisse: This Switzerland-based mint and refinery has several popular series such as its Fortuna and Rosa lines of gold bars. PAMP Suisse creates minted ingots and cast bars ranging from 1 gram to 1 kilogram.
  • Perth Mint: The oldest running mint in Australia offers gold bars ranging from 1 gram to 100 grams. Their collection of minted ingots features the iconic Perth Mint logo and typically arrives in sealed assay cards.
  • Royal Canadian Mint: One of the most popular sovereign mints in the world is also one of the top gold bar producers in the world. The Royal Canadian Mint offers minted ingots and cast bars ranging from 1 oz to 1 kilogram.
  • Valcambi: This Switzerland-based mint creates some of the more unique gold bars on the market, such as the CombiBar, in an array of sizes. Minted ingots and cast bars are available from Valcambi. These bars range from 1 gram to 1 kilogram.

History of Gold

Gold ingots were used before the rise of Ancient Rome. We also know that the Romans used gold bars as currency in Mesopotamia as early as the 7th millennium B.C. Gold has always been seen as a desirable precious metal ever since it was first discovered.

Best estimates suggest that over 200,000 tons of gold have been mined throughout history. It’s also estimated that around 50,000 tons of gold has yet to be mined.

Over the years, gold bars have transformed, now being used to hedge against inflation and deflation. Gold bars can be used to diversify a portfolio or serve as financial cover during times of economic uncertainty.

The highest gold price was recorded on August 7, 2020, when gold per oz reached $2,074.88. Adjusted for inflation, gold reached an even higher mark in 1980 with a price of $2,429.84.

Buying Gold Bars at Provident Metals

At Provident Metals, we always have a range of unique gold bars in various sizes. Don’t hesitate to reach out to our customer service team with any questions you may have. We can be contacted via email, through our online chat feature, or at our toll-free number 800-313-3315.