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1 oz Gold Bullion Bars
The one ounce gold bar is one of the most widely recognized and versatile gold bullion products currently available to investors. One ounce bars are simple, yet elegant and offer investors a relatively inexpensive way to acquire gold bullion. Although gold bars come in numerous sizes and are made by numerous mints, the 1 oz size seems to be the most popular due to its liquidity and typically low premium over the spot gold price.
Brands of Gold Bars and Purity
One ounce gold bars are made by several well-known mints around the globe, which includes both government run and private mints, as well as refineries. These mints include such names as The Royal Canadian Mint, the Sunshine Mint, Ohio Precious Metals (OPM), Credit Suisse, PAMP Suisse and Valcambi Suisse.
One ounce gold bars typically come with a purity of .9999 percent pure gold though this can vary slightly from brand to brand. Generally speaking, the lowest purity you will see is .999 or 99.9%.
Gold Bar Designs
One ounce gold bars often come with basic yet sharp looking designs. The gold bars are typically stamped with the mint logo and hallmark, as well as a serial number and the fineness of the bar. For example, the Sunshine Mint 1 oz gold bar comes with the mint’s logo of an eagle with the rays of the sun in the background. The gold bar also states “9999 Fine Gold 1 Ounce.” Finally, the mint has stamped an identification number at the bottom of the bar.
The back of the gold bar is stamped with the Sunshine mint logo of suns rising on the horizon with its rays extending out. The design of this bar, as with many 1 oz gold bars, is beautiful yet not too extravagant. This is another reason that gold bars are able to sell for smaller premiums over the spot gold price.
One ounce gold bars usually come in new condition and are encased in plastic unless otherwise stated. Bars of this size typically come with an assay which is on the back of the plastic case. The assay attests to the bar’s gold content and purity and often even states the bars unique serial number.
1 oz Gold Bar Premiums
One ounce gold bars are very popular with investors for several reasons, but obviously one of the most likely reasons is due to their low premiums over the spot gold price. One ounce gold bar premiums are often only about two percent over spot. This allows investors to buy more gold for their money. While some gold bars carry slightly higher premiums over spot, overall, the 1 oz gold bar is an excellent choice for someone looking to acquire gold bullion.
Other Benefits To Owning 1 oz Gold Bars
One ounce gold bars have some other potential benefits besides being a relatively cost effective way to add to one’s bullion holdings, or start one’s bullion holdings. The 1 oz bars are easily stackable if you choose to store them yourself. These types of bars are also very liquid, and are therefore easily transacted should you decide to sell. In addition, many 1 oz gold bars are IRA eligible.