Gold bar

Gold bar

:"Gold brick" redirects here. For other uses, see Gold brick (disambiguation)."A gold bar is a gold ingot which may be produced in many different types, weights and categories.

Types

Gold bars are classified into two different types — cast and minted — based on their method of manufacturing ref|1. Cast bars are made by pouring molten gold into an ingot mold to help the gold to take a form. Minted bars are made from gold blanks that have been hand cut to the required dimensions from a flat piece of gold. Markings are almost always applied by presses. ChipGold is a relatively new form of gold bar consisting of a small ingot (1-20 grams) in a sealed and certified package the size of a credit card.

Weights and values

One troy ounce = 31.1034768 grams. Thus if gold were at US$850 per ounce, a gold gram would be worth just over US$27.

Note where gold is measured in ounces, these are troy ounces, not the much more common avoirdupois ounce which is used for measuring weights in food etc. An avoirdupois ounce is lighter than a troy ounce. One avoirdupois ounce = 28.349523125 grams.

* One tonne = 1000 kilograms = 32,150.746 troy ounces (value US$27,617,490 as of Oct. 10, 2008).
* One kilogram = 1000 grams = 32.15074656 troy ounces (value US$27,617.49 as of Oct. 10, 2008).
* One tael = 50 grams (value US$1,218.03 as of Oct. 15, 2007).

This is the official rate of taels in mainland China since the country went metric. In Taiwan and Hong Kong today a tael is equivalent to 37.429g. Gold is very dense (19.3 g/cm³), to the extent that ten million U.S. dollars' worth occupies less than one cubic foot.

References

The International Gold Bars Collection [http://www.gold.org/pr_archive/html/bars/Types.htm "Bar Types, Weights and Purities"] URL accessed on December 24 2005.

See also

* Precious metal
* Fort Knox Bullion Depository
* Gold as an investment
* Gold coin
* Millesimal fineness
* Official gold reserves
* Dore bar
* Bullion
* Ingot
* ChipGold

External links

* [http://www.gold.org/pr_archive/html/bars/Categ.htm Categories of gold bar]


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