When you purchase a gold bullion bar, it greatly depends on the sort of gold purity the bar has in it. You can purchase different bars of different weights so it is hard to narrow down on the exact weight. A good guess on how much does a gold bar weigh though, is around 12.5kg or 27.5lbs. The more popular gold bar called the ‘London Good Delivery Bars’ are about the largest gold bars commonly used and they weigh about this amount. The majority who invest in gold bars tend to purchase 1 kilogram bars which weighs around 2.2lbs.
When you buy gold bars, you will see reference markings all across the gold pieces for its purity or fineness. These references show the actual amount of how much gold is actually in it. These references can be applied to coins, bars, and even jewelry. Any sort of gold bullion that has less than 24 karats or 999 parts per thousand has other metal mixed in to it, making it weigh less.
When you see gold pieces that are 18 karat or have 750 part pure gold, the other percentage of that gold piece contains the metal alloy. Typically when you buy gold bars they are around 999 to 995 parts per thousand of gold. Obviously anything less than that will be sold for a lot less the price.
Gold bullion coins typically run around 917 per thousands depending on the type of coin. South African Krugerrand and American Eagle run for around that amount. Coins like the Austrian Philharmonic and Canadian Maple Leaf are 999 parts per thousand.
Gold with the highest purity will look really bright and shiny once it appears right out of the national mint packaging, however since gold is a soft metal, it can lose its quality shine over time. It is recommended that you do not take it out of the package to help preserve its quality until deemed absolutely necessary. Gold that contains other metals such as alloy, hold up over longer periods of time.
When you are purchasing gold, you want to do your research on the companies you are buying from. It is no secret that a lot of unknown companies provide their customers with counterfeit gold that looks real enough to an amateur eye. It would be quite unfortunate for someone to spend a lot of money investing in gold bars only to find that it was all fake. By the time people realize it is all counterfeited, companies would have already changed location or other valuable information.
If you are dealing with a company you have never dealt with before, it is always safe to read reviews about them. You should avoid any company that gives deals that are ‘too good to be true’ or something that offers a ridiculously low amount of money for their gold. Typically in these cases you can smell the scam if you are wary of their special deals.
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Originally posted 2017-01-15 12:23:24.