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Are you considering investing in the gold bars? There’s hardly a better investment choice than that of gold. For centuries, the gold has retained its position as one of the most coveted metals. Even though the economy of the world and the economic practices has seen overwhelming changes, gold has held its price throughout time.
Even though you can definitely invest in gold bonds, the financial advisers of Canadian Bullion find that investing in physical gold is even a better option for the investors.
That’s why they have created the following list depicting different types of gold bars available in the market. By following this list, it would be easier for prospective investors to choose the gold bars that are worthy of their attention.
Definition of Gold Bars
The definition of the gold bar largely depends on the manufacturing style. There are two different types of gold bars available in the market. They are the minted bars and the cast bars.
So, when the investors talk about the gold bars, they generally mean the minted or the cast gold items. You can find these types of gold bars in different shapes, sizes and weight. The recognized manufacturers of such bars often press their holograms on the gold bars. These bars are generally issued at a low premium compared to the value of the fine gold content of the bar.
The markings that come along with the bars are mostly functional. It records the names of the manufacturers as well as the issuer for the benefit of the customer. The weight of the bar, purity of the gold, as well as the serial number, gets depicted on the top of the gold bars.
However, it can be easily noted that the characters of the bars manufactured worldwide can vary in their features and distinctive marks. It is these features which help the customers to distinguish the bars from one country from the bars of another one.
Features of the Bars
Here are some of the distinctive features which helps the financial advisers of the Canadian Bullion to distinguish gold bars of different nations.
- The London Good Delivery Gold Bars come with different weights and purity. The funny thing is that purity is not mentioned on the top of the bar.
- The minimum gold purity of the bars, which is also known as the good delivery, can vary from 99% to 99.99%.
- Most of the minted bars manufactured across the world come with a motif on the reverse side. This is considered as the standard features of the gold bars.
- While most of the cast bars come with a serial number, the smaller bars do not have it.
- Many cast bars found across the world vary in purity and weight. These bars are generally used for making jewellery, industrial or other fabricators.
Cast Bars
These gold bars are generally produced directly from the melted gold. However, the way a manufacturer can use the melted gold can vary in different ways. The traditional method of producing cast bars is to pour the melted gold into the mold with the appropriate dimensions.
The modern method of producing these bars has changed considerably. Nowadays, the modern cast bars are cut from the gold bar that has been placed in a mold or proper dimensions.
Another method of producing the cast bars is to pass the gold through a die which has a specific width and thickness. These dies are clamped between the cooling blocks, which help the melted gold get hardened faster. This new process of making the gold bar is known as the continuous casting process.
The markings on the bars are generally applied by the workers or by using a press. Even though the bars are generally of rectangular shape, some of the manufacturers make them in other shapes, like a rod, square and round.
Minted Bars
Minted bars are generally cut from the cast bars which are rolled into a uniform thickness. The process of cutting is generally done with a blade with blanks that offer the right weight and dimensions.
All the surfaces, the top, sides and base of these types of gold bars are even and smooth. The markings that come with these bars are generally embossed by the minting press.
The financial advisers of Canadian Bullion pointed out that some of the minted bars come in the round, square or oval shapes as well. The minted pendant bars that come with a hook or hanger are also manufactured in the same process.
Unwrought Bars
This classification contains the gold bars and refined cast gold bars that are generally used for the fabrication or investment. This classification also holds the minted gold bars that are manufactured by a recognized manufacturer, includes official markings and are issued at a low premium above the prevailing value of the gold content.
Now that you know the different types of gold bars, it would be easier for you to choose the one that suits your investment purposes perfectly. If you are still unsure about the types of gold bars you should invest, get in touch with the financial advisors of Canadian Bullion today.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.