Kilo gold bars contain 32.15 troy ounces each. In the metric system, a “kilo” is short for kilogram, the base unit of mass in the metric system, which is the primary weight (and measurement) system used other parts of the world.
The most commonly available kilo gold bars are refined by the Royal Canadian Mint (RCM) and by PAMP. PAMP kilo gold bars come in rigid protective plastic cases and usually with certificates. RCM bars do not come with either protective cases or certificates. Actually, the PAMP certificate is superfluous; the real “certificate” is the PAMP hallmark on their gold bars. The Royal Canadian Mint recognizes that it is the hallmark on the bars that counts and does not issue certificates.
Kilo gold bars are commonly bought by large investors because they bars are easier to store than are smaller gold bars. In the space it takes to store twenty-five 1-oz gold bars (in their packaging from the refinery), six kilo gold bars (192.90 ounces) could be stored.
Small metric-weight gold bars
The Perth Mint produces 20-gram, 10-gram and 5-gram gold bars, which sell at higher premiums than the gold bars discussed above. However, small metric-weight gold bars sell at much lower premium than fractional-ounce gold coins, such as 1/10-oz Gold Eagles.
For more information on small metric-weight gold bars, visit our Small Metric-Weight Gold Bars page.
Gold bars’ hallmarks
As noted above, Perth Mint and PAMP hallmarked bars dominate the gold bar market. However, RCM kilo gold bars are popular because they carry the hallmark of the prestigious Royal Canadian Mint.
Other hallmarks of gold bars that may show up include Johnson Matthey, Engelhard, Metalor, and Umicore. Most U.S. precious metals investors recognize the names Johnson Matthey and Engelhard. Metalor and Umicore are equally recognized in Europe. Metalor is based in Switzerland; Umicore is headquartered in Belgium with operations in throughout Europe.
Another recognized hallmark for gold bars is Credit Suisse, the huge Swiss bank. Credit Suisse bars are manufactured by PAMP.
Are gold bars good buys?
The primary reason to buy gold bars instead of the popular gold bullion coins is that gold bullion bars sell at smaller markups over spot than do the popular gold bullion coins.
Investors who simply want to buy gold with the smallest markup over spot should consider buying Austrian 100 Coronas or Mexican 50 Pesos, which were the primary gold bullion coins of the 1970s, before Gold Maple Leafs (1979) and American Gold Eagles (1986) were introduced.
Today Austrian 100 Coronas and Mexican 50 Pesos are no longer promoted in the U.S. But, because they are no longer promoted, they carry smaller premiums over spot than new 1-oz gold bars. However, Austrian 100 Coronas and Mexican 50 Peso gold coins are not always available.
Gold bars for IRAs
One-ounce, 10-oz, kilo and 100-gram gold bars, are eligible to be put in IRAs that accept physical gold and silver products. To learn more about setting up a self-directed IRA that accepts gold and silver products, read Putting Gold and Silver in IRAs.
How to buy gold bars
For more information about how to buy gold bars from CMI Gold & Silver Inc., see our page titled Doing Business with CMIGS. If you are interested in selling gold, you will want to visit the page about selling gold and silver to CMIGS.
If you would like to discuss buying gold bars or low premium gold coins, call us at 1-800-528-1380. We take calls between 7:00 a.m. and 5:00 p.m. MST, Mondays through Fridays.
Although the minimum gold order at CMI Gold & Silver Inc. is five ounces, smaller quantities of gold often can be found on our Gold Specials Page.