Anyone can invest any amount in gold, from 1 gram to 10 large bars, at Gold Dealers. Get more information at a detailed explanation from the cheapest, safest, and fastest way to get gold.
Gold bars come in various shapes and forms, and buying in bulk saves you money.
At the most expensive end of the gold bar price scale, one-gram “novelty” gold bars are minted for your gift market. Often coated in plastic, these tiny gold bars cost twice the value of their gold bullion content.
Cheapest of, in comparison, would be the 400-ounce (12.4kg) “Good Delivery” gold bars held by central banks, and traded by professional bullion dealers in London, center from 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 you see quoted online and inside your newspaper.
There are other than 30 forms of gold bar circulating within the world’s regional gold markets today. In value terms, probably the most heavily traded gold bars – together with the largest ready market, open 24 hours a day, five days weekly – are the Good Delivery gold bars bought and sold through dealers employed in London.
Sixty-three active gold refineries, all closely monitored and authorized by the Where to buy gold bars, make around 150,000 of such 400-ounce gold bars annually. That’s worth some $102 billion at current prices (Jan. ’13).
Inside the smaller, local gold markets of India, Singapore and also the Middle East, probably the most widely traded gold bar will be the “ten tola” bar. Rarely stamped with a serial number and weighing 3.75 oz (117g) each, two million of such “TT” gold bars are cast or minted each and every year.
The most famous gold bar in China may be the “five tael biscuit” bar (6 oz; 187g). Manufactured in Hong Kong, five-tael gold bars are approved and identified by the Chinese Gold & Silver Exchange, now in operation for almost a hundred years.
Outside Asia, the most common gold bar sold to private investors for personal storage may be the kilobar (1000g; 32.15 ounces). More than a million of the gold bars are made annually, generally in Switzerland.
The top gold-bar refineries also make vast quantities of just one-ounce gold bars each year – and much like the kilobar, these gold bars are widely promoted as being a inexpensive route to gold investment.
But these smaller gold bars, although they’re less expensive than gold coins, don’t come without significant drawbacks.
Buying gold bars is virtually always less than buying the same weight in gold coins – along with the bigger each bar, the low the charge by weight.
Depending on your local tax regime, you can reduce or completely avoid paying sales tax (VAT) by purchasing gold bars as opposed to coins, too. Your savings may also be determined by the standard (or “fineness”) of the gold bars you buy.
Trading Good Delivery gold bars – guaranteed to be of 99.5% fine or above – can then trim your tax bill again in several countries, as these 100- and 400-ounce gold bars are defined as investment gold and entitled to personal retirement plans. Good Delivery gold bars reduce your costs further still by retaining main market deliverable status. According to your perspective the elimination of private possession and insurance arrangements can be another plus.
Smaller gold bars like 100g gold bars bought and stored in the home, alternatively – or even saved in a bank safety deposit box – present three big drawbacks.
Specialist gold-bar storage programs – like gold pool accounts and certificate schemes – offer to aid remove the irritation of taking physical possession. This can really help reduce the premiums you have to pay to purchase gold and then sell. But their storage fees still run approximately 1.5% annually.
That’s a substantial charge for owning gold bars – a passive investment that pays you no interest. You will discover a less costly route, however, into buying gold and owning it outright.
To retain Good Delivery status, the large 400-ounce bars of gold traded by refineries, central banks, wholesalers, Gold Dealers must remain inside secure, recognized gold bullion vaults.
Take these gold bars away from market-approved storage – even going to store at your bank – and they also break the chain of integrity that guarantees each bar’s gold to another buyer.
It’s the integrity of Good Delivery gold bars that ensures maximum resale whenever you go to sell. But until recently, private investors couldn’t easily access this market unless these were dea1ers to buy a whole 400-oz bar. Nor could they arrange market-approved storage unless they owned five big bars or more.
At BullionVault, however, you may now buy gold in amounts less than one gram at one time. Stored in market-approved gold bar facilities, your gold will retain its maximum resale value. Storage fees for getting a section of these big gold bars run as little as .12% annually, with insurance included. Estimate your commission and storage fees using our cost calculator.