Gold is considered to be one of the most valuable of all precious metals on earth. Currently valued at over $950 per ounce, it is a surefire investment to make. A majority of all the gold that is held in banks around the world is in the form of a gold ingot. A gold ingot is a solid bar that varies in weight and size. When you picture the golden ingot, most picture a bar of gold about the size of a brick; the most common of these bricks weighs 400 ounces and is valued at $382,500 dollars. These gold ingots weigh in at 25 pounds each.
Gold is so dense that 10 million US dollars will take up less than one cubic foot of space. It is estimated that all the gold in the world that has been mined would weigh in at 158,000 tonnes (metric ton). A tonne is worth $30.740.620 US dollars. You do the math, that’s a lot of gold.
In about 1091 B.C. the Chinese started forming small squares, or ingots made of gold. This was the first time that gold was legalized as currency. Since then: wars, battles, and murders have been started by man’s undying fascination with gold.
Gold ingots are manufactured in two different ways: the first is called casting, which means that the gold was melted down and poured into an ingot mold and then cooled and stored. The other way of processing gold is called minting, which means that the block of gold was hand cut from a larger block to a required size and weight.
While most banks and a few wealthier individuals will invest in gold ingots, a more affordable way to invest is by purchasing bullion, or gold coins. Whether you can buy gold ingots, or bullion or can’t really afford gold at all, it’s a surefire investment, steeped in history, and beauty.