Gold ingot is an odd sounding term, but what does it mean? A gold ingot is nothing more than a gold bar. The question is what size is this bar? An ingot can be any metallic gold and it can be in any shape. The ingot though has more to its story, and that is what I am about to share with you. Are you ready to learn more about gold?
Gold Ingot | How Do We Get Ingots?
So, the term gold ingot itself doesn’t represent a gold nugget, so where does the term gold ingot come from? The molds that the gold is put into to give it shape are known as ingots, and this is where we get the term from. These are used for bars that are generally 10 ounces, so smaller ones don’t require as much work.
These small gold bars can generally be made using gold that comes from gold sheets, which are often used for jewelry as well. However, the primary purpose of using these sheets is because they are great for the purpose of gold stamping. This is the main reason that a jeweler would use them. Make sense?
What is the standard gold bar then? The large banks are where you can find the larger bars up to 400 troy ounces, so the standard gold bars are usually 3 to 5 ounces, sometimes even 10 ounces. It depends on the individual, and if they have the room to store these bars. Most individuals who do buy them for their personal investment have a vault to store them in.
Gold Ingot | Measuring the Gold
When it comes to measuring gold, pouring and shaping, it’s the gold ingot that comes into play. Gold is measured in Troy Ounces, and if you read my article about that measurement and where it comes from, it will give you some insight into why it matters that we use Troy Ounces.
As you read more about gold you will come across some terms that you don’t quite understand like kilobar, which simply means it’s a 1000 grams in mass of gold. This is the type of bar that is used in trading and investment because it’s easier to manage.
Could you imagine folks running around all day with a 400 ounce gold bar? Or how about the largest gold bar in the world, which weighs in at 551 pounds, and is located at the Toi gold mine. So, what would you say if I told you that sometimes there are gold bars that are found that aren’t real?
Gold Ingot | Yes, Sometimes They are Counterfeit
Counterfeiting is nothing new, but one wonders how in the world you could counterfeit a gold bar, especially if it’s 551 pounds right?
I am not saying that could be counterfeited easily, however the gold ingot for that had to be huge! Beware of buying gold or even selling it to anyone. Only deal with someone you know is a reputable dealer, and is licensed to help you.
Are you interested in buying some gold for your future protection against inflation? If you want to learn more about gold and the gold ingot, then CLICK HERE right now!
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