For buyers of precious metals, few things compare to a gold bar—holding it is like gripping the weight of wealth and centuries of global fascination. It’s heavy stuff, in more ways than one. If you’re considering joining the “gold bar club,” you likely have a few questions. You’re not alone. These are the most common gold bar questions searched online, and America’s Gold Authority® has the answers for you right here!
Gold Bar Q&A
Q: How much is a gold bar worth?
A: This question can be answered in multiple ways. First, let’s look at the price of a gold bar. The price of a gold bar is primarily determined by its weight (more on that in a second) and various economic factors, such as:
- Global economic conditions
- Current market supply of gold
- Overall demand for gold bars
These factors play off each other to determine a gold bar’s final price. But there’s another type of estimation that can’t be calculated in dollars and cents—personal significance.
Do you own gold bars that were passed down from grandparents as a means of preserving generational wealth? Do you want to buy gold bars as an alternative savings vehicle outside of the traditional system? Do you want gold bars because they’re wealth that you can hold in your hands without worrying about damaging its condition? People buy gold for many reasons, and no reason is wrong. In the end, a gold bar’s final estimation is much more complex than its price.
Q: How much does a gold bar weigh?
A: At U.S. Money Reserve, gold bars are available in weights of 1 ounce, 10 ounces, and 1 kilo (32.5 ounces). Gold bar buyers find the various weights attractive because they offer a range of affordability that fits multiple gold-buying scenarios. Knowing the amount of wealth that you wish to safeguard, for example, will help you determine which gold bar weight works best for you!
Q: How big is a gold bar?
A: The physical dimensions of a gold bar vary based on the overall weight of the bar and the manufacturer or minting facility. The following measurements are for Perth Mint gold bars.
- A 1-ounce gold bar is roughly 0.95 inches wide, 1.65 inches long, and 0.08 inches thick.
- A gold bar that weighs 1 kilo, meanwhile, is about 1.58 inches wide, 3.15 inches long, and 0.71 inches thick.
Want a BIG gold bar? You can find one at Fort Knox. Hidden away in Fort Knox’s high-security facility are gold bars that measure roughly 3.625 inches wide, 7 inches long, and 1.75 inches thick. Each one weighs approximately 400 ounces. The bad news? They’re not for sale. In fact, no visitors are permitted in the U.S. Mint’s Fort Knox facility. The good news? You can buy gold bars that are similar to the ones at Fort Knox from U.S. Money Reserve.
Q: How can I buy gold bars?
A: You can buy gold bars a few different ways: online, over the phone, or from a private seller. The method that works best for you will likely depend upon factors like:
- Convenience: the ability to buy gold bars in precisely the weight and price point you want, when you want them
- Reputation: enjoying the peace of mind that comes with buying gold bars from a reliable and trusted source that demonstrates many years of outstanding client service
- Education: receiving quality insight and information when buying gold bars from a particular outlet
Q: Where can I buy gold bars locally?
A: You can find a precious metals dealer near you that sells gold bars. However, there’s nothing closer to home than buying gold bars from the comfort, convenience, and safety of your own home. For local gold-buying opportunities, consider the benefits and disadvantages of working with a local dealer before risking one cent of your hard-earned money at a neighborhood shop.
Q: Should I buy gold bars or gold coins?
A: The answer to the “gold coins vs. gold bars” debate depends on what you want from your gold portfolio. Is fast, high-volume diversification important to you? Are you interested in paying a lower average premium? Then you want to look closely at gold bars.
However, if you’re more interested in providing a meaningful gold gift to someone—as a graduation present, for instance—or enjoy variety in your precious metals portfolio, gold coins might be the answer.
Knowledge is gold bar power.
The novelist Thomas Berger once said, “The art and science of asking questions is the source of all knowledge.”
Now that you’re armed with so much knowledge about gold bars, you’re ready for the next step.
Experienced U.S. Money Reserve Account Executives are standing by to answer your questions and help you choose the right gold bars for your portfolio. Call 1-844-307-1589 today for a pressure-free one-on-one consultation!