Gold is a valuable asset to invest
in because it can be easily liquidated whenever there is a sudden need for
cash. While most people do have gold jewellery that came in form of gifts or
was inherited in family, there are many others who buy gold in forms of
standard coins and bars. Such gold is bought because it can be moulded into
ornaments but is more often a tool of investment. The basic principle is
simple: buy the yellow metal when you can afford to, and sell it when you see a
profit in the deal or need money immediately.
There are over 30 types of gold bars
circulating in different parts of the word today. In terms of value, the most
heavily traded gold bars - that also have the largest ready market, open round
the clock, 5 days a week – are the ‘Good Delivery’ bars purchased and sold
through dealers in London. The fine gold content of these bars can vary between
350 and 430 troy ounces. They have minimum purity of 99.5%.
In the local gold markets of Middle East,
India and Singapore the most widely traded bar is the ‘ten tola gold bar’. They
have smooth, rounded edges and most of them have no serial numbers. The purity
level is usually 99.9%.
Some small cast gold bars in troy
ounces are now made by certified refiners. The Perth Mint of Australia is at
present the only accredited manufacturer to issue an extensive range: from 50
oz to 1/2 oz.
The Royal Canadian Mint also
produces bullion in form of bars apart from coins, wafers, medals and
medallions. With a purity of 99.9% and 400 oz weight, these bars are made as
per London Bullion Market Association (LBMA) standard.
Regardless of the kind of bars that
you have, selling them to a genuine buyer will bring in cash that can be
invested or spent for any valuable purpose. And you should start by comparing
prices offered online before you sell your precious metals.
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