Gold Bar Classification

Gold bars are classified into two types, depending on their method of construction: cast and minted. A gold bar is broadly defined as a cast or minted gold item, regardless of shape, that is made by a licensed bar manufacturer. It is normally issued at a low premium above the current value of the fine gold content. The markings on gold bars are mainly functional: there is always the name of the manufacturer or issuer and, if necessary, the weight and purity of the gold and a serial number. However, it can be noted that the properties of manufactured gold bars can vary greatly worldwide.

For example:

London Good Delivery "400g" bars have variable weights and purities, and the weight is not normally recorded on the bar. The minimum or specified gold purity of bars, indicated as "Good Delivery" from leading associations and exchanges, can range from 99% to 99.99%.

Most struck bars around the world have a representation or motif on the back. While most melted bars have a serial number, gold coins, and most small minted bars around the world, do not. Many molten gold bars have little or no markings and have variable weights and purities when produced for jewelry, industrial purposes, and other purposes. Most gold bars are purchased worldwide by jewelers, manufacturers, and other industries. All molten and minted gold bars are used by both manufacturers and investors. When issued or made available, this is done at a low premium on top of the current value of their gold content.

Fused ingots

Molten gold bars/bars are usually melted directly from gold. However, the way in which molten gold is used in its manufacture varies. The traditional method is cast (for example, poor) gold, which is melted in a crucible or a die of suitable dimensions. The modern method, which is now commonly used to manufacture smaller cast bars, is to melt a measured weight of gold granules or cut gold pieces in a mold with the correct dimensions and melt them in a furnace. Another method of making a modern cast bar that is long and flat is to make beaten bars, especially for the manufacture of bars, is to pass molten gold through a die, which has a certain thickness and width and is sandwiched between cooling blocks in a continuous casting process. Marking can be applied manually or by a printing press if desired. Although the molten ingots are usually rectangular (wide or narrow, flat or sloping), some refineries also produce them in other shapes (e.g. bar, round, square).

Minted ingots

Minted gold bars are normally cut from a molten bar that has been rolled out to a uniform thickness. Cutting is usually done with a cutting press to create blanks that have the required dimensions and weight. All surfaces (top, bottom and sides) are smooth and even. Marks are usually applied by a beating press. Although most punched bars are rectangular, they are also manufactured in a number of other shapes (e.g., round, oval, square). "Hanger" bars, which have a hook or hanger so that they can be carried, are also manufactured. Terminology: Minted gold bars are also referred to as casting blocks (gold bars), and in some countries, they use wafers to make minted products or "coins."

Raw ingots

The Industry Collection classifies less pure molten gold bars (i.e. freshly mined dore bars and cafes based on molten waste), and refined fused gold bars that are also used for production or investment purposes, as crude ingots. It also classifies minted gold bars for production or investment purposes as raw bars. This is if they are manufactured by a recognized manufacturer, who then place official markings. These are then issued at a low premium above the current value of their fine gold content. However, it can be noted that while in some countries classified gold bars are minted as "crude", others issue them under a different category.

Investment Bars

The Industry Collection also classifies a cast or minted bar as an investment bar if it is issued by a recognized bar manufacturer or publisher at a low premium above the current value of the fine gold.

Ornamental ingots

Within the Industry Collection, this classification applies to gold bars that are issued at a fixed price or at a high premium over the value of their fine gold. These include the limited edition of "Fine Art" bars from Singapore, and "model bars" from South Korea.

Source: Gold Baren Worldwide