Gold bars: sizes, brands, premiums and how to buy and sell them

Common sizes

Size	Pure gold	Who buys it
1 to 20 grams	0.03 to 0.64 troy oz	Gifts and small purchases
1 oz	1 troy oz (31.1 g)	A popular size for individual buyers
10 oz	10 troy oz (311 g)	Larger purchases
1 kilogram	32.15 troy oz	Larger investors
100 oz	100 troy oz	The size of a standard COMEX gold futures contract
About 400 oz	350 to 430 troy oz	Banks, central banks and gold funds (“Good Delivery” bars)

The big 400 oz bars that trade between banks follow the London Bullion Market Association’s Good Delivery rules: at least 99.5% gold, a serial number, the refiner’s stamp and the year of manufacture. Individual buyers rarely handle them, but they set the standard the rest of the market is priced from.

Minted bars and cast bars

Bars are made in one of two ways:

• Minted bars are cut from rolled sheets of gold and struck with a design, which gives them sharp edges and a polished face. Most small bars are made this way, and they usually come sealed in a tamper-evident card that shows the weight, purity, serial number and maker.
• Cast bars are poured into molds, so they have rounded edges and a rougher surface. They’re stamped with the same details. Larger bars are more often cast.

Both hold the same gold. Minted bars in sealed cards are often easier to resell, because the card identifies the bar and the buyer can see it hasn’t been opened. Packaging can be faked too, though, so a careful buyer may still test a bar.

Who makes them, and why it matters

The maker’s name affects how easily you can sell a bar. Dealers pay the most for brands they know, such as the major Swiss refiners (PAMP, Valcambi and Argor-Heraeus, among others) and national mints such as the Royal Canadian Mint and the Perth Mint. A bar from an unfamiliar maker may need testing before a dealer will buy it, and may fetch less.

A good check is the LBMA’s Good Delivery list of accredited refiners, which is public. Many of the bars sold to individuals come from refiners on that list.

What bars cost

Like coins, bars sell for the spot price of their gold plus a premium. Bars usually carry a smaller premium than coins of the same weight, because they’re cheaper to make and don’t carry a government’s design or legal-tender status. Premiums fall as bars get bigger, so a kilo bar costs less per ounce than a stack of 1 oz bars.

The trade-off is flexibility. If you own a kilo bar and need a few thousand dollars, you have to sell the whole bar. Many buyers mix sizes for that reason. Gold coins or bars? compares the two, and what gold really costs shows how to check a quote.

1 oz gold bars

The 1 oz bar is the most common way to start with bars. It contains one troy ounce of gold, usually 99.99% pure, and minted versions come sealed in an assay card with a serial number. It’s usually a little cheaper than a 1 oz bullion coin, easy to store, and usually easy to sell if it’s from a known refiner and still in its card. Sizes and designs vary by maker, so compare the card’s details with the maker’s published specifications if anything looks off. Our monthly premium check compares what three large online dealers charge for a 1 oz bar, and our guide to buying gold at Costco covers the 1 oz bars Costco sells.

Can gold bars go in an IRA?

Yes, if the bar is at least 99.5% pure and your IRA’s trustee or custodian holds it. That purity is the standard for delivery on regulated gold futures, and the tax code uses it for IRA bullion. Custodians generally accept bars only from accredited refiners or national mints, so check their list before buying. The gold IRA guide covers the rest.

Spotting fake bars

The most dangerous fakes are gold-plated tungsten. Tungsten is almost exactly as dense as gold, so a well-made fake can pass a weight and size check. Protect yourself this way:

• Buy from established dealers, and walk away from prices below spot.
• Keep bars in their original sealed packaging, and check that the serial number on the bar matches the card.
• Have any bar you’re unsure about tested by a dealer. Electronic testers and ultrasound can check below the surface without damaging the bar.

There’s more in red flags when buying gold.

Selling bars

Dealers pay close to spot for well-known bars in sealed packaging, though they may still test them. Bars that have been out of their packaging, or come from unfamiliar makers, may be tested first or bought at a lower price. Get quotes from more than one dealer.

Gains are taxed as gains on collectibles, at up to 28% for bars held more than a year. A dealer may also file Form 1099-B for some sales, depending on the product and the quantity; our guide to how gold is taxed explains the rule. Either way, a gain belongs on your tax return.

Frequently asked questions