Australian Gold Bars Overview
When it comes to investing in physical gold bullion, gold bars may be an excellent choice for several reasons. Gold bars are usually produced in large numbers and may potentially require less design and detail work compared to gold coins. This can translate into lower overall premiums on gold bars, allowing you to stretch your investment dollars further. Gold bars are produced by many mints and fabricators all over the world. The Perth Mint of Australia produces a number of Australian gold bars in various weights and designs.
The Perth Mint is the largest mint in Australia The Perth Mint is one of Western Australia’s largest exporters as well, producing and distributing some $18 billion in gold, silver and platinum coins and bars to over 100 countries each year. The mint has become known all over the globe for its attention to detail, its high quality standards and the beauty of its designs.
The Perth Mint produces a number of different gold bars in smaller weights such as 1 gram, 5 gram and 10 gram. It also produces traditional 1 ounce gold bars as well as 50 gram, 100 gram and 10 ounce weights.
The Standard 1 ounce Perth Mint Gold Bar with assay may be a great choice for larger investors. This 1 ounce gold bar features The Perth Mint logo as well as inscriptions of the bar’s weight and purity. The bar’s reverse features a repeating kangaroo design, paying tribute to an iconic symbol of Australia. Speaking of purity, this gold bar is minted with 1 ounce of 999.9 percent fine gold. This bar may come with assay card as well, verifying its metal content, weight and purity.
For larger investors or those looking to acquire as many ounces of gold as possible, the 10 ounce Perth Mint Gold Bar may be a great choice. This Australian Gold Bar has the same basic design as the 1 ounce bar, and also comes with assay card. Larger gold bars, like the 10 ounce weight, may potentially offer a per-ounce cost savings compared to smaller bars. This is due to the fact that larger bars and smaller bars have very similar production costs (not including the raw material). Because it costs almost the same to produce a 1 ounce gold bar as a 5 gram gold bar, the 1 ounce bar may offer more gold at a lower net cost per-ounce.
Certain Australian gold bars may be eligible for purchase in an IRA account. Of course, you should consult your tax professional before purchasing for an IRA to determine eligibility and to make sure proper guidelines are followed.
There are two major types of Australian gold bars: minted bars or cast bars. Minted bars are produced by stamping blank bars, giving them a sleek and shiny look. Cast bars are produced by pouring liquid gold into molds, making each bar unique and giving them an aged, rustic appearance. Either type makes a great addition to your holdings, and both offer a very different physical look.