Gold bullion bars come in a wide range of sizes and weights and are defined as follows:First, there is a clear limit to the size of gold coins. If you want to buy a single piece of pure gold that weighs more than one ounce, you’ll want to check out bars.
You can buy bars which are even smaller by weight than a one-ounce gold coin. You can also buy a 400-ounce gold bar like you ones you see in bank vaults in the movies. But you’ll need a good amount of cash to buy one, and you won’t find it easy transporting or selling it.
The most popular size for gold bars is the “kilobar”, a rectangular bar weighing one thousand grams. The kilobar is a favorite among jewelers and serious investors in physical gold and is normally traded at an extremely low premium above the prevailing value of its gold content. There are over 50 manufacturers of kilobars worldwide.
How much do gold bars cost? That depends entirely on their size and on the price of gold on any given day.
At the time of writing the price of a one-ounce pure gold coin is about $1,300. And the price of a kilobar is approximately $42,110. Clearly, you’re going to need a lot more money to start buying gold bars of that size.
But kilobars are not your only choice by any means. There are plenty of gold bar sizes that fall between one ounce and a thousand grams. You can take your pick according to your budget.