Many of us are familiar with gold bars. Some of us may even have gold bars in our possession. There are actually three types of gold bar – minted, cast and Combi. Each type has its own advantages and disadvantages.
Cast gold bars
The quickest and easiest way to produce cast gold bars is by using pre-set molds. A mould of the desired size and weight is made for cast gold bars. Gold is heated until it turns liquid, and then poured in the mould. The liquid gold will take the form of the mold once it cools. Cast bars are a natural rough finish with engravings describing the manufacturer’s name, logo, and gold bar weight. Each individual gold bar cast is unique as each one has its own irregularity. In a matter of hours, the gold can be set into its mould and also cast at a lower cost. The bars can be sold at lower prices and gold investments are the most affordable in this form.
The Mint Gold Bars
The most common type of bar is the minted one, with its shiny surface and sharp corners. There are two kinds of mint bars – those that are cast on a continuous machine and then compressed. Second type is a metal strip that has been cast and cut up. Each bar’s weight and dimensions are measured after it has been inspected. After the bars are softened, they will be struck to achieve uniformity. The bars will be cleaned, polished and then dried. The finish of minted bars is complex and popular with gold investors. They are therefore easier to sell than the cast bars. The bars are packaged securely to protect them and lose value if they break the seal. A gold bar has a greater value when it is packaged.
Combi Gold Bars
The CombiBar is a product of the Swiss refinery Valcambi. Valcambi and Edelmetall-Service GmbH & Co., (ESG) and German company Heimerle + Meule produced the CombiBar in 2010. The CombiBar, which measures the same size as a credit card, was created in response to the demand from investors for more compact and flexible gold bars. The CombiBars contain 50gm gold, and are easily broken down into 1 gram pieces by hand. The bars are 99.9% pure and look like minted gold. CombiBars can be used for alternative payment methods.
Cast bars are the most popular and cheapest among collectors, even though they will yield the lowest initial returns. Although they may cost more, CombiBars are cheaper. CombiBars make gold investing accessible for all investors.