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Gold was first legalized as
money as early as 1091 B.C in China as an alternative to
Silk. Gold is still the only universally accepted medium
of exchange. Millions of people all over the world continue
to use gold as a hedge against inflation and as a basic
form of savings and a reliable store of value during times
of economic uncertainity. For investors, gold is the most
reliable of all metals. Owning bullion coins or bars is
both enjoyable and convenient.
GOLD BARS :
A gold bar is defined as gold item, regardless of shape,
which is made by a bar manufacturer, records the name of
the manufacturer, the precise weight and the precise purity,
and is sold at a low premium above the gold price.
Most gold bars are classified into two 'types', depending
on their method of manufacture: cast and minted. Cast bars
are those made by the pouring of molten gold into a mould
of specified dimensions. Markings are then applied manually
or by press. Minted bars are made from gold blanks that
have been stamped out to the required dimensions from a
flat strip of gold. Markings are normally applied by minting
presses (as in the case of gold coins).
BAR WEIGHTS :
Gold bars can be denominated in different units of weight
to accomodate the preferences of different geographical
regions:
- Grammes - International
- Ounces - Mainly English speaking countries: USA, UK
and Australia
- Tolas - Mainly India, Pakistan, Middle East, Singapore
- Taels - Mainly Chinese speaking countries: Hong Kong,
Taiwan, China
- Bahts - Thailand
- Chi - Vietnam
- Dons - Korea
| Gold
Weight Conversion
Table |
| Different |
Grammes |
Troy
Ounces |
|
|
|
|
| 100g
|
-
|
3.2141oz |
| 1
oz |
31.1035 g |
-
|
| 10
tola |
116.638
g |
3.75
oz |
| 5
tael |
187.145
g |
6.017
oz |
| 10
baht |
152.44
g |
4.901
oz |
| 18.750
g |
0.603
oz |
0.603
oz |
| 10
don |
37.500
g |
1.206
oz |
BULLION COINS :
Most bullion coins
are legal tender in their country of issue and are usually
coveted more for the intrinsic worth of their respective
metal content instead of their face value or rarity. The
value of these refined pieces are based upon current quotes
in the precious metals market.
In addition to their beauty, investors highly regard bullion
coins because they are:
- tangible and may be immediately possessed
- extremely liquid
- easy to buy
- easier to transport and store than bars
- guaranteed by the government of their origin
Furthermore, the weight and purity of bullion coins are
strictly regulated ensuring that the required, precious
metal content is fully present in each coin. Bullion coins
are
minted by many countries such as: United States, Australia,
Canada, South Africa, Austria, Mexico, China.
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