In this article, we cover all that you need to know about gold bar weight and the properties of gold. Why are we covering this? Well, it’s important that investors know as much about the assets that they are investing in today. A lot of people ask, “How much does a brick of gold weigh?” For this reason, we’ve shared all that we know about gold and more here at MFMetal.net. Keep reading to learn the important facts and you’ll likely be able to make more sound investing decisions as a result.
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Facts About Gold Bar Weight & More
Gold has been an established currency since the early ages, and this precious metal has been considered an unmatched symbol of value and wealth. Back in the day, gold was minted in coins and jewelry, but for ease and convenience, people started weighing gold in bars.
A gold bar, like the brick-sized ones we’ve seen in movies, is not easy to find, and very few customers can afford these. On the other hand, there are gold bars in varying sizes. That is why here we’ll talk about the size and weight of a standard gold bar and explain the primary investment options people looking to invest in gold have.
Gold – Chemical Element and its Properties
Gold is a chemical element, a transition metal with an atomic number of 79 and an atomic weight of 196.966569 u. Gold has a density of 19.3 g/cc (grams per cubic centimeter), which means every cubic centimeter (cube with 1 cm side) of gold weighs 19.3 grams or 0.62 troy ounces.
In comparison, aluminum has an atomic number of 13, an atomic weight of 26.9815385 u, and a density of 2.7 g/cc. That means 1 gram of aluminum is 7 times more voluminous than gold. You can easily hold 1 kilo of gold in your hands, as it is the size of a standard smartphone.
Size and Weight of a Gold Bar
Gold comes from nature in small quantities, which is why most gold bars are made in small sizes. Also, people tend to invest smaller amounts in gold at a time, which is why most gold bars are smaller. The most-often bought gold cars range from a paperclip to a smartphone size.
A gold bar the size of a smartphone weighs one kilogram or about 2.2 pounds, and it is worth about $57,000 at the current gold price. In contrast, a standard gold bar with 4 x 11 x 2 inches, or the gold bricks we’ve seen in movies, weighs about 11 kilos or 27.5 pounds or about 400 troy ounces and is worth about $700,000.
Troy Ounce – The Standard Gold Weight Measurement
The troy ounce is a weight measurement for gold and other precious metals established in the Middle Ages in France, in the city of Troyes. The city of Troyes was a prominent merchant hub, and the merchants used 480 grains of barley to equal one troy ounce, roughly equaling 31.1 grams. There are other historical findings related to the troy ounce. Still, regardless of origin, it became the official standard measurement for gold and silver in France and Britain by 1527, with the US accepting it in 1828.
The troy ounce weighs 31.10347 grams or slightly more than the standard ounce. Even though other measurements have been brought forth, the troy ounce has remained the standard measurement unit for precious metals like gold, silver, and platinum.
History of Gold Bars
Pure gold bars are also known as gold bullion, which defines gold as pure as possible, refined to 99.999% purity. While gold bullion has been used as a currency for ages, it has also been established as the backing for many of the world currencies, better known as the gold standard. The gold standard is the monetary system where a country’s currency and paper money have their value directly linked to gold.
Standardizing Gold Bars
Gold is measured in troy ounces, the most often used measurement. Still, there are gold bars that are measured in grams, and there are several standardized measurements for gold:
Small gold bars:
- 1/100th troy ounce
- ½ gram (0.016 troy oz)
- 1 gram (0.032 troy oz)
- 2 grams (0.064 troy oz)
- 2,5 grams (0.80 troy oz)
- 5 grams (0.16 troy oz)
- 10 grams (0.32 troy oz).
Medium Gold Bars:
- 20 grams (0.64 troy oz)
- 1 troy oz
- 50 grams (1.6 troy oz)
- 100 grams (3.22 troy oz).
Large Gold Bars:
- 5 troy oz
- 250 grams (8.04 troy oz)
- 10 troy oz
- 500 grams (16.08 troy oz)
- 1 kilogram (32.15 troy oz).
Invest in Gold
Gold has retained its value over the years, and it is a precious metal that is very attractive to investors. Many investors recommend you hold at least 15% of your investments in tangible assets like gold.
Many economists and financial analysts predict that the upcoming economic turmoil could bring back the gold standard, and it would not be wrong to have some of your reserves in gold. If you’re looking for a good gold investment company, then our suggestion is to check out the Goldco IRA guide provided.
Official Gold Bars and Coins are a Great Investment
When looking to invest in gold, it is simply impossible to invest in gold bricks, as these are very expensive and impractical. Thus, you can invest in smaller bars and coins when investing in gold, and these provide more liquidity, and you can sell only a portion of your gold stock if necessary. If you have one large gold bar, you can’t sell a part of it, but you’ll have to sell it in bulk.
The best investments in gold are official gold bars and coins in standard weight and purity of 99.9%+. These come with official stamps and certificates for authenticity.
There are cast and minted gold bars, and while they are both pure 99.999% gold, these vary in look. The cast bars are cast into molds and don’t have crisp edges or smooth surfaces.
The minted bars are cast and then milled to precise sizes and weights, with crisp edges, shiny, smooth surfaces, and an appealing look. Official mints create minted bars in various sizes that are sold to investors.
The Bottom Line
When it all comes down, gold is the same in all shapes and forms, but for investments, gold is minted into coin and bar shapes. While you can think of gold bars like the ones in movies, these are rarely, if ever, sold in circulation, as they weigh close to 30 lbs and cost over $700,000 apiece; the most commonly found gold bars in circulation today are the 1, 5, 10, 50, and 100-gram bars, and the 1, 5, and 10 troy oz bars.
You can invest in gold bars or coins via an authorized gold dealer, and you’ll get a wide selection of small bars and coins, gold certificates, or investments in gold mining stocks to choose from. If you’re feeling lost or stuck still then check out the homepage for more helpful articles and guides.
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