We are independent & ad-supported. We may earn a commission for purchases made through our links.

Advertiser Disclosure

Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.

How We Make Money

We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently from our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What is a Gold Ingot?

By Ray Hawk
Updated May 16, 2024
Our promise to you
SmartCapitalMind is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At SmartCapitalMind, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

A gold ingot is a method of storing gold in bulk for currency reserve purposes or further processing into gold jewelry, gold charms, and other ornamental uses. Ingots are usually a rectangular, molded brick-like shape with some sort of imprint on the surface indicating the purity and net weight of the gold, as well as potential ownership information. Another common name for a gold ingot is a gold bar, though ingots are a special subsection of the definition of a gold bar.

Gold bars are usually small, hand-held quantities of gold weighing one ounce or more, and are cut or stamped from a rolled sheet of the metal. The gold ingots that are held as gold reserves by national central banks are much larger. Standard accepted size for a gold ingot among bullion dealers is 400 troy ounces (12.4 kg). The Roman monetary system initially established the measure of a troy ounce while using bronze bars as their currency, and it is equal to one-twelfth of a pound, or 480 grains (31.1 grams). While the avoirdupois ounce is used as a standard of measure in cases other than that of precious metals, it is equal to one-sixteenth of a pound (28.35 grams).

Ingots of gold can be quite heavy, therefore, despite the fact that they don’t appear to be very large, measuring 6 inches by 3 inches by 2 inches (36 cubic inches or 589 cubic centimeters). A gold ingot weighs approximately 27 pounds (12.25 kilograms). The official name for the gold ingot that is held by central banks is the “Good Delivery” bar, and their actual weight is allowed to vary between 350-430 troy ounces (10.9-13.4 kilograms). Minimum purity of the gold ingot must be at least 99.5% gold. Good Delivery is also the official name and size designation for silver ingots and other precious metals held as currency reserves.

It is estimated that the world’s central banks hold 19% of all existing gold as currency reserves. Nations from the United States to Burundi, over 110 in total, have reported their gold reserves to the International Monetary Fund. This is all stored in the form of the gold ingot, though actual quantities are not verifiable, as most central banks do not allow foreign access to their reserves.

Occasionally, larger-than-standard gold ingots will be minted for various reasons. The largest gold bar on record was produced by Mitsubishi Corporation at its Toi Gold mine in 2005. The 18-inch long bar (45.72 centimeters) weighs 551 pounds (250 kg) and was valued at 400 million yen, at the time. In 2005, that was equivalent to approximately $3.7 million US Dollars (USD).

SmartCapitalMind is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Discussion Comments

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.

SmartCapitalMind, in your inbox

Our latest articles, guides, and more, delivered daily.