Sunday, August 23, 2009

GOLD BARS


Gold bars:
A gold bar is a gold ingot which may be produced in many different types, weights and categories.

Although gold bars come in many forms, in movies we generally see the "400 ounce London Good Delivery" bar (12.44 kg), held by most central banks. They are each worth about $382,400 (400oz × $956/oz, as of 11 June 2009).

Types
Gold bars are classified into two different types—cast and minted—based on their method of manufacturing . Cast bars are made by pouring molten gold into an ingot mold to help the gold to take a form. Minted bars are made from gold blanks that have been hand cut to the required dimensions from a flat piece of gold. Markings are almost always applied by presses. ChipGold is a relatively new form of gold bar consisting of a small ingot (1-20 grams) in a sealed and certified package the size of a credit card.
1 oz holographic kinebar
Kilobar Web
1 kg cast bar from Indonesian Logam Mulia
Smallbar Web.
100 g minted bar from Indonesian Logam Mulia
Weights and values
One troy ounce = 31.1034768 grams. Thus if gold were at US$850 per ounce, a gold gram would be worth just over US$27.
Note where gold is measured in ounces, these are troy ounces, not the much more common avoirdupois ounce which is used for measuring weights in food etc. An avoirdupois ounce is lighter than a troy ounce. One avoirdupois ounce = 28.349523125 grams.
* One tonne = 1000 kilograms = 32,150.746 troy ounces (value US$30,740,620 as of June 11, 2009).
* One kilogram = 1000 grams = 32.15074656 troy ounces (value US$30,740.62 as of June 11, 2009).
* One tola = 11.6638038 grams (value US$358.553 as of June 11, 2009).
* One tael = 50 grams (value US$1,537.03 as of June 11, 2009).
* TT (Ten Tola) = 117 grams (3.75 oz)
This is the official rate of taels in mainland China since the country went metric. In Taiwan and Hong Kong today a tael is equivalent to 37.429g.
Tola is a traditional Indian measure for the weight of gold and prevalent to this day. Many international gold manufacturers supply tola bars of 999.96 purity
Gold is very dense, 19.3 g/cm³, to the extent that ten million U.S. dollars' worth occupies less than one cubic foot.




Saturday, July 4, 2009

GOLD nuggets

source

Gold Nuggets:
A gold nugget is a naturally occurring piece of native gold. Watercourses often concentrate the nuggets and they are recovered by placer mining, but they may also be found in residual deposits where the gold-bearing veins or lodes have decayed. Nuggets are also found in the tailings piles of previous mining operations, especially those left by gold mining dredges.


Composition

They are never pure 24K in composition but rather about 20 to 22K (~about 83% to 92%). Nuggets are also referred to by their "fineness", for example "865 fine" means the nugget is 865 parts per thousand in gold. The common impurities are silver and copper. Nuggets high in silver content are known as "electrum".
Largest discovered gold nugget
The largest gold nugget ever found was the Welcome Stranger, found at Moliagul, Victoria, Australia in 1869 by John Deason and Richard Oates. It weighed gross, over 2,520 troy ounces (78.38 kg) and returned over 2,284 troy ounces (71.04 kg) net. The largest gold nugget still in existence is the Hand of Faith, found in 1980 using a metal detector.











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