Anyone can invest any amount in gold, from 1 gram to 10 large bars, at Precious metals service. Get more information at a comprehensive explanation of the cheapest, safest, and easiest way to buy gold.
Gold bars come in a number of shapes and sizes, and purchasing in bulk helps you save money.
At most expensive end from the gold bar price scale, one-gram “novelty” gold bars are minted for that gift market. Often coated in plastic, these tiny gold bars cost at least twice the value of their gold bullion content.
Cheapest of all the, in contrast, would be the 400-ounce (12.4kg) “Good Delivery” gold bars held by central banks, and traded by professional bullion dealers in the uk, center of the world’s 24-hour gold market.
It’s the live dealing in these 400-oz gold bars, combined with the trade in Comex gold market-approved bars in New York City (100 oz), that produces the spot gold price the thing is quoted on the internet and with your newspaper.
There are more than 30 forms of gold bar circulating within the world’s regional gold markets today. In value terms, by far the most heavily traded gold bars – together with the largest ready market, open 24 hours a day, five days weekly – will be the Good Delivery gold bars bought and sold through dealers working in London.
Sixty-three active gold refineries, all closely monitored and approved by the Where to buy gold bars, make around 150,000 of the 400-ounce gold bars each year. That’s worth some $102 billion at current prices (Jan. ’13).
In the smaller, local gold markets of India, Singapore as well as the Middle East, probably the most widely traded gold bar is definitely the “ten tola” bar. Rarely stamped by using a serial number and weighing 3.75 oz (117g) each, two million of the “TT” gold bars are cast or minted annually.
The most famous gold bar in China is the “five tael biscuit” bar (6 oz; 187g). Made in Hong Kong, five-tael gold bars are approved and recognized by the Chinese Gold & Silver Exchange, now in operation for up to a hundred years.
Outside Asia, the most common gold bar sold to private investors for personal storage will be the kilobar (1000g; 32.15 ounces). Greater than a million of these gold bars are made each and every year, usually in Switzerland.
The top gold-bar refineries also make vast quantities of just one-ounce gold bars each year – and just like the kilobar, these gold bars are widely promoted as a inexpensive way to gold investment.
However these smaller gold bars, although they’re less expensive than gold coins, don’t come without significant drawbacks.
Buying gold bars is nearly always cheaper than buying the same weight in gold coins – as well as the bigger each bar, the less the fee by weight.
Dependant upon your nearby tax regime, you are able to reduce or completely avoid paying sales tax (VAT) by buying gold bars instead of coins, too. Your savings will even be determined by the product quality (or “fineness”) of the gold bars you acquire.
Trading Good Delivery gold bars – certain to be of 99.5% fine or higher – can then trim your tax bill again in several countries, since these 100- and 400-ounce gold bars are defined as investment gold and entitled to personal retirement plans. Good Delivery gold bars lessen your costs further still by retaining main market deliverable status. Based on your standpoint the removal of private possession and insurance arrangements is another plus.
Smaller gold bars such as 100g gold bars bought and stored at home, alternatively – or even kept in a bank safety deposit box – present three big drawbacks.
Specialist gold-bar storage programs – such as gold pool accounts and certificate schemes – offer to help you reduce the irritation of taking physical possession. This will help reduce the premiums you pay to acquire gold then sell. However storage fees still run as much as 1.5% a year.
That’s a tremendous charge for owning gold bars – a passive investment that pays you no interest. You will find a less costly route, however, into buying gold and owning it outright.
To retain Good Delivery status, the big 400-ounce bars of gold traded by refineries, central banks, wholesalers, Buy Precious Metals must remain inside secure, recognized gold bullion vaults.
Take these gold bars away from market-approved storage – even going to store in your bank – and they also break the chain of integrity that guarantees each bar’s gold to the next buyer.
It’s the integrity of excellent Delivery gold bars that ensures maximum resale if you arrived at sell. But until recently, private investors couldn’t easily access this market unless these folks were dea1ers to purchase an entire 400-oz bar. Nor could they arrange market-approved storage unless they owned five big bars or higher.
At BullionVault, however, anyone can buy gold in amounts as low as one gram at a time. Stored in market-approved gold bar facilities, your gold will retain its maximum resale value. Storage fees for possessing a section of these big gold bars run as low as .12% each year, with insurance included. Estimate your commission and storage fees using our cost calculator.