The refuge asset par excellence remains, today, one of the safest investments, an important resource to save capital and keep it aside in the best possible way, especially in times of economic crisis. The price of gold rises in particular moments of crisis and falls in phases of economic recovery and this is no accident.
Buying gold bars is one of the best choices to invest your savings in this precious metal in high demand: the value of gold is immediately perceivable, liquid and follows precise market quotations.
There are different types, ingot, gold ingot, bars, plates or plates of various sizes and different degrees of purity, then different values.
Is it worth investing in gold bars? Are there standard sizes of this solid gold obtained by casting? We will answer these and other questions, in the complete guide that we propose. First, though, a little history.
In Italy, Law n.7 – January 17, 2000 introduced the liberalization of the gold market with the abolition of VAT, giving private savers the opportunity to purchase investment bullion that until then had been inaccessible to most.
Gold, for over 3,000 years, has the precise function of preserving wealth not so much for its intrinsic qualities but for its rarity. Moreover, in the course of time, gold becomes increasingly difficult to find. It has been mined for over 30 centuries and it is becoming increasingly difficult to find new gold deposits. Suffice it to think that, in the last 10 years, the amount extracted by the number one nation in the world in terms of production (South Africa) has been halved. Starting in 2008, North American companies involved in the search for gold have doubled the extraction price for an ounce of gold. These figures demonstrate the increasing difficulty of finding new deposits.
Gold is 18 times rarer than silver and 6 times rarer than platinum.
Speaking of intrinsic and physical qualities we can say that gold is indestructible or almost Weights, shapes, types of gold ingot depend on the country where it is forged, they vary according to different local cultures. The traditional method of measurement currently used derives from the British imperial system and is based on the troy ounce that, commensurate with the Italian system of measurement, corresponds to 31.10 grams. This does not mean that, in the gold market, there are various types of ingots, from those weighing one gram up to precious blocks of 12.5 kg.
While the price varies according to weight and size, the most expensive gold bars are one gram bars, which can double in price.
There are four main types of ingot: large, small, Ten Tola and Biscuit ingot.
Let’s see what the different characteristics of these types of gold bar are.
The standard weights of large bars are mainly three:
– 400 troy ounces, or 12.4 kg, called London (or Standard) Good Delivery. These bars are usually kept in central banks and traded on the London market, the center of the 24-hour gold market, 5 days a week;
– 100 troy ounces, about 3.125 kg, also known as Comex Good Delivery because they are approved by the New York Comex. Together with London Good Delivery, the Comex Good Delivery bars traded on the market determine the spot price, which is published on websites and in newspapers;
– Large 3kg ingots, which belong to the Shanghai Gold Exchange Good Delivery, produced for China.
On certain occasions, 2, 5 and 10 kg bars are also used.
Good Delivery bars are stored in safes and remain armoured until sold: insurance costs are lower than for small bars kept at home.
On a size/price basis, Standard Good Delivery 12.4kg bars are the most cost-effective.
Small bars are the easiest to buy, store and resell – in essence, the most purchased. Their weight ranges from 1 gram to 1 kg.
In reference to the weight of the bars in general, in Italy there is a wide range of cuts: gold bars of 1 gram, 2 grams, 2.5 and 5 grams, 10, 20, 25 grams, 50, 100 and 150 grams, 200, 250, 300, 500 grams and 1 kg.
Gold bars are ideal for those who have little money to invest: some can be purchased starting at a price of about 100 euros.