A 1 Kilo Gold Bar – Brand Varies .9999 (COMEX Brand) is a one-kilogram gold bar with a high purity of 99.99% that has been manufactured by a brand on the COMEX-approved list.
Here are some key specifications and characteristics of such a product:
Weight and Purity:
- Weight: A 1-kilogram gold bar weighs exactly 1,000 grams, which is equivalent to approximately 32.15 troy ounces.
- Purity: The bars are required to have a minimum fineness of 99.99%, also known as “four nines” fine. This is a very high level of purity, and the bars are considered 24-karat gold.
COMEX Approval and “Brand Varies”:
- COMEX Approved: COMEX, a division of the CME Group, sets stringent standards for the gold bars that can be traded and delivered through its exchange. A “COMEX Brand” bar is produced by a refiner or mint that has met these standards and is on the COMEX “Good Delivery” list.
- Brand Varies: When you purchase a “Brand Varies” bar, you are buying a product that meets all the COMEX specifications but you don’t get to choose the specific manufacturer. The dealer will provide a bar from their current inventory of COMEX-approved brands. This often allows for a lower premium over the spot price of gold compared to buying a specific, well-known brand.
Examples of COMEX-Approved Brands:
The list of COMEX-approved refiners is extensive and includes well-known names in the precious metals industry. Some examples of brands that produce COMEX-approved gold bars are:
- PAMP SA
- Valcambi SA
- The Royal Canadian Mint
- Heraeus Precious Metals
- Asahi Refining
- Rand Refinery
General Features:
- Markings: These bars typically have markings stamped on them that include the refiner’s hallmark, the bar’s weight (1 kg or 1000g), the purity (.9999), and a unique serial number.
- Dimensions: While dimensions can vary slightly by manufacturer, a standard 1-kilogram gold bar is roughly 80mm in length, 40mm in width, and 18mm in thickness.
Investment Considerations:
- Liquidity: COMEX-approved bars are highly liquid and widely recognized in the global precious metals market, making them easy to buy and sell.
- Price: The price of a 1-kilogram gold bar is primarily based on the current spot price of gold, plus a premium. This premium is influenced by factors like production costs and market demand.
- IRA Eligibility: Many gold bars that meet the fineness requirements of 99.5% or higher, including .9999 fine gold bars from COMEX-approved refiners, are eligible for inclusion in a Precious Metals IRA.
