You are probably one of the people wanting to know how much a gold bar weighs, and if you are a complete newbie in gold investment or trading then you might be wondering: what determines the weight of a gold bar? What are the units of measurement? And so on…
Well, a gold bar is simply the yellow metal in the form of a bar and is manufactured by private or sovereign entities through either of the following methods:
- Casting– Involves pouring molten gold metal into a molt shaped in the form of a bar with the desired inscriptions. The main advantage of this method is that it is less complex and therefore a cheaper method of producing gold bars.
- Minting– pieces of gold are cut into definite shapes and struck to create desired impressions on them. This method creates identical metal bars and is also a very expensive method of manufacturing gold bars. This also means that the premiums attached to minted bars will be a bit higher than those of cast bars.
What Determines the Weight of a Gold Bar?
Gold bar weights differ a lot and so is their purity. We have smaller bars weighing as little as 10g as well as larger bars weighing over 200kg. For instance, the largest known gold bar in the world weighs 250kg and is worth approximately $10, 518,277.50 in 2020. This approximation is based on the current price of gold.
So, what determines the weight of these gold bars? Well, the main determinant is the purpose(s) for which the gold bar was made. The two common purposes that determine how much a gold bar weighs are:
- Investment
- Trade
Investment
Gold bars used for investment purposes are usually the larger type of bars such as the Good Delivery bar (438.9 ounces or 12.4kg) and the kilo bar (1kg or 32.2 ounces). The reasons why investors prefer the larger bars are that they attract the lowest premiums (additional price over the spot price of gold incurred as a result of storage and insurance charges) hence bigger returns on investment in the long run.
Trade
Trading in gold requires flexibility and thus the smaller units of gold are preferred over larger ones. Gold coins are also commonly used for this purpose.
Gold Bar Units of Measurement
The standard unit of measurement for gold bars is the troy ounce. However, there are other units of measurement used globally. Below is the common list of global measurements:
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Troy ounce
(1 troy ounce is equivalent to 31.1 g)
The troy ounce is named after the French city of Troyes where the unit of measurement was first used between 476 AD and 1453 AD. Troy ounce is the standard unit of measurement.
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Gram
The gram is most commonly used unit of measurement in Asian countries and examples of popular gram bars are the 10 g bar, 100 g bar and the 1000 g bar (the kilo bar).
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Tola
Tola is the unit of measurement in India. 1 tola is equivalent to 0.375 troy ounces or 11.6638 g.
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Baht
Baht is the unit of measurement in Thailand. 1 baht is equal to 14.710 g or 0.473 troy ounces.
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Tael
This is the unit of measurement used in China. 1 tael = 37.429 grams.
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Gold Weight vs. Purity
The weight of a gold bar simply refers to the quantity of metal in the bar. This may include the small percentage of impurities such as silver or platinum.
On the other hand, purity refers to the quality of the yellow metal i.e. the percentage of pure gold metal within the bar.
The most popular purity ratios are the 99.9% and 99.5%, but some gold bars such as the Baht bar fall below these standards with a purity of 96.5%.
Types of Gold Bars and Regions Where they are Used/Produced
Below are some of the most popular gold bars and their corresponding descriptions.
1. CAST BAR
The most common Cast Bar is the good delivery bar held by banks.
2. KILO BAR
Is a gold bar in the form of a brick. It weighs 1kg (1000g) making it convenient for trading.
3. GRAM BAR
Gram Bars are the tiniest making them extremely flexible for trading purposes. Their weights rang between 10 g to 250 g.
4. TROY OUNCE GOLD BAR
Is the smallest and some can weigh 0.5 oz.
5. TAEL BAR
Is traded in the Chinese gold markets with the most common Tael Bar being the 5 Tael biscuit.
6. TOLA BARS
Are commonly used in and have a purity standard of about 99.9%.
7. BAHT BAR
A good example is the 10 baht biscuit with purity standard of 96.5%. It is traded in the Thai markets.
Frequently Asked Questions
The following are the commonly asked questions about gold bar weights.
What is the importance of knowing how much a gold bar weighs?
Knowing the weight of a gold bar is important as it enables you to know its price and flexibility. This will enable you to make an informed investment decision.
How heavy is a 12.5 kg bar of gold?
I am assuming that heaviness here means the weight of the 12.5 kg gold. The US standard customary unit of measuring weight is the Pound. 1 kg= 2.205 pounds. Hence, 12.5 kg =2.205*12.5= 27.5625 pounds.
How much does a brick of gold weigh?
The most commonly used brick-shaped gold bars are the Kilobars. 1 kilobar = 1000 g = 2.205 pounds.
How much would a million dollars in gold weigh?
The current spot price of gold is about $ 41, 427.84 per Kilo. 1 million dollars = 24.138kg or approximately 53.225 pounds.
What are the dimensions of a 12.5 kg bar?
12.5 kg bar is the Standard Good delivery bar and measures 20cm by 8cm at the base and 4.5 cm height. (7.874 inches in length, 3.15 inches width and 1.772 inches height).
What is the price of 1kg bar of gold?
The current spot price of a 1kg bar of gold is approximately $ 41, 427.84 but this will keep fluctuating so keep checking the spot changes using a live price chart.
How many grams is 100 oz gold bar?
1 oz = 28.35 grams, thus 100 oz = 100 * 28.35 = 2835 grams.
What is a bullion bar?
A bullion bar is simply a gold bar containing the required amount of gold metal as prescribed by the global gold manufacturing standards.
Conclusion
Knowing the various types of gold bars, their weights and prices is very important as it enables investors like you and me to make wise investment decisions. There are numerous types of gold bars on the market and we’ve just listed the most common ones due to the following reasons:
- They are manufactured by trustworthy private firms or registered government entities hence are of high quality and conform to the rules and regulations.
- They carry a lower premium hence ideal for investment
