Can You Buy Gold Bars?

by IRA Rollover in Gold, Gold Bullion with Comments Off on Can You Buy Gold Bars?

When people are looking for safe investments that will hold their value they generally ask, can you buy gold bars?  Fortunately, the buy gold barslaws about gold have changed since 1933 when everyone had to turn in their gold to the federal government.  In 1974 that law was repealed by President Gerald Ford.  The new law allows people to own gold bars, gold coins, gold bullion and to buy gold ingots and gold certificates.  Gold cannot be specified as a payment of a specific contract, though.  In other words, you can buy gold but no one can contract for goods or service and demand payment in gold.

Gold bars come in many sizes, enabling people without vast amounts of cash on hand to buy and own gold.  Most people to buy gold save a little each month and buy gold bars annually or quarterly.  Some buy an ounce at a time, some several ounces, and some buy smaller gold bars according to what their budget can handle.

Buying gold bars is popular right now because bars carry lower premiums than gold bullion coins.  You can save as much as $50 per ounce when you buy a gold bar instead of an American Gold Eagle coin.  Gold bars come in all sizes:

  • 1 ounce bars
  • 10 ounce bars
  • 1 kilo (32.15 troy ounces)
  • 100 grams (3.215 troy ounces)

All these types of gold bars are at least 99.5% pure as per federal mandate.

One ounce bars are affordable for many people but more than 30 types of bars on the market today. You can get a gold bar as light as half a gram but generally, the lighter the bar the higher the premium.  The standard bars held in federal gold reserves by central banks are 400 troy ounces, which equals 438.9 ounces in standard measurement.

If you want a gold bar that easy to sell, should you have to, 100 gram bars fit the bill.  10 ounce usually bought by people that are buying several hundred ounces.  Those who want less than a hundred ounces may be interested in the 1 ounce bars or 100 gram bars since both offer more flexibility if you should need to sell some of your gold for some reason.

One ounce bars are a good buy for those who can’t spend a lot all at once.  The mark-up is less on a one ounce bar than on a one ounce bullion coin and you can save as much as $40 per ounce.

You can also buy 5, 10, and 20 gram gold bars at smaller premiums than fraction-ounce gold coins.

As you can see, buying gold bars rather than gold coins is smarter economically and they are easier to liquidate.  You have a lot of choices when it comes to buying gold bars, which makes them a great asset to include in an IRA.

So in a nutshell, when you ask “can you buy gold bars?” the answer is yes you can and yes you should!

Did you enjoy this article? Share it!
  • no image available
  • no image available
  • no image available
  • no image available
  • no image available

Sorry, comments for this entry are closed at this time.