Cast Gold Bars
If you’re buying gold as an investment, it’s important to get it at the lowest price per gram available. Cast gold bars have an advantage here because they’re cheaper for manufacturers to produce compared to minted bars. Cast bars are made by pouring melted gold into a mold. Once cooled, any excess metal is trimmed off to ensure the bar meets its exact weight requirement. The bar is then stamped or engraved with details indicating its weight and purity.
For investors, choosing cast gold bars can mean lower costs upfront while still benefiting from the inherent value of gold. These bars are straightforward in their production process, involving minimal handling and processing. This efficiency often translates to a lower premium over the gold spot price, making cast bars an attractive option for those looking to maximize their investment in gold bullion.
Having Possession of Gold Bars
When you own gold bullion, you have a choice between minted gold bars and cast gold bars. Minted bars usually come in a sealed blister pack that confirms their authenticity. This packaging ensures that the gold cannot be removed without damaging it, which helps maintain its value. Minted bars are also visually appealing and can be displayed if desired.
On the other hand, cast gold bars are simpler in appearance and often don’t come in fancy packaging. They are designed to be securely stored away from sight. Despite being less visually striking than minted bars, cast bars have a more tactile feel and can be handled without reducing their value. This makes them a practical choice for investors who prioritize the physical aspects of their gold holdings over display aesthetics.
Selling Gold Bars: Cast vs. Minted
When selling your gold bars, you generally have two choices: selling to a dealer or selling to an individual.
If you decide to sell to a dealer or refiner, they will base their offer solely on the weight and purity of the gold in your bar. Whether the bar is cast or minted doesn’t affect the price in this case; it’s all about the gold content.
Selling to an individual, like a collector or a jewelry store, can be more profitable if you have a minted bar. The attractiveness of the bar and its packaging will be considered in the offer price. Generally, minted bullion bars tend to fetch a higher offer in these situations.
