A bartering and payment method for 4000 years
Gold bars have been used as a bartering and payment method for 4000 years. They have not suffered any losses in their material value or significance throughout time. Modern bars have their weight, fineness and the producer embossed on them, but no face value as is the case with coins. These days, bars made from fine gold serve as a financial investment, which can be easily traded. They are, above all, considered a crisis-proof storage of value.
Production of gold bars
Blanks are punched out of a gold sheet for smaller bars. The top and possibly also the bottom side are then minted. The manufacturers melt a precisely weighed quantity of fine gold granulate into a mould for larger bars. These bars have the typical concentric solidification rings on the top side and slightly coarser surfaces on the sides and bottom. The production costs of bars are lower than those of coins, which is why fine gold bars are usually cheaper compared to investment coins.
Trade in gold bars
Modern bars with a weight of only one gram up to a kilogram are of interest to private investors, whereby the production costs with smaller bars (up to 20g) are higher. Tradable bars correspond to certain standards. In addition to the individual serial number, some fine gold bars have additional security features.
The advantages of tradable gold bars also includes the lower issue surcharge with larger bars compared to coins. No VAT must be paid.
>> See here for the current gold bar prices
Seek "Good Delivery" manufacturers when buying gold bars!
It is best to seek a Good Delivery manufacturer when buying bars so that you do not experience any unpleasant surprises if you decide to sell your gold bars. The Austrian Mint exclusively sells such bars in Austria. Bars from renowned international manufacturers, such as those from Switzerland (Argor Hereus), Germany or Italy are of course also available.
Reputable manufacturers, from which banks and precious metal traders worldwide buy virtually all of their gold bars, are recorded on the so-called "Good Delivery" list of the London Bullion Market Association (LBMA). These manufacturers are regularly checked by independent bodies and are repurchased by all banks worldwide. There are also bar manufacturers without the coveted "Good Delivery" license. These types of bars are themselves minted or moulded by various refineries and are not purchased by the majority of banks, even though they have the same fineness of quality as with those from Good Delivery manufacturers. Few dealers primarily specializing in buying gold also buy these bars. They do, however, have to accept higher discounts from the material value.
|Bars of a |
Good Delivery manufacturer
(Example: Austrian Mint)
|Bars of a manufacturer |
without Good Delivery certification
(bars of an Austrian refinery)
Gold bars as a collector's item
Rare and historical gold bars bring a shine to the eyes of numismatists and bar collectors. Gold finds, from sunken ships as an example, regularly attract high bids at auctions. These collector's bars - most of them one of a kind - are very expensive on the one hand, and their actual value very difficult to ascertain on the other.