Gold Bar

In financial and investment terms, gold bar is simply bars that are made out of 99.5% to 99.99% pure gold which can be traded for investment purposes or held by central banks. Gold bars vary is size, which can be in form of 1 ounce to as high as 400 troy ounce if gold. An individual may choose either to keep these bars by themselves or better, store them in a safe deposit box. In the past, gold bars represent directly the currency, but nowadays, it only serve as a sybolic backing.

In general terms, referring to Wikipedia, gold bar is a gold ingot which may be produced in many different typs, weights and categories. Gold bars can be classified into two different types, namely cast bars and minted bars. This type of classification is given based on their method of manufacturing. Cast bars are made by pouring molten gold into an ingot mold, which help the gold to form a ‘bar’. Minted bars are made from gold blanks that have been cut to the specific dimensions from a flat piece of gold.

Another form of gold that are quite new is chipgold, where it consist of small ingot (1-20 grams) in a sealed and certified package with size of a credit card.

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