US gold bars: 1 oz is 0.8% over spot, 10g is 2.5%
In short
- At 8:06 a.m. Sofia time an ounce of gold is $3,931.80 (about $126.41 a gram). The cheapest 1 oz bar is 0.8% above that, the cheapest 10g bar 2.5%.
- For every $1,000 put into a 10g bar you get 7.72g of gold. In a 1 oz bar it is 7.85g, and at the spot price it would be 7.91g.
- At SD Bullion the gap between the buy and sell-back price is 9.3% on a 10g bar and 4.6% on a 1 oz bar.
In the US the 1 oz bar carries the smallest premium over spot: 0.8%, against 2.5% for 10g and 1.5% for 100g. Dealer prices were taken at 5:49 a.m. and the spot price at 8:06 a.m., so the percentages are approximate.
What happened
Gold rose 1.9% on Monday and closed around $3,947 an ounce, according to TradingKey. By 8:06 a.m. it was about 1% lower over 24 hours in euro terms. Bars do not follow that move one for one: part of the price is minting, packaging and the dealer’s margin, and that part does not change with the market.
So the most useful comparison is not who is cheapest in dollars, but how far above the value of the gold you pay. You owe that premium the moment you buy.
What it means for you
The maths: at $126.41 a gram, 10g of gold is worth $1,264.10. The cheapest 10g bar (BGASC) costs $1,295.60, which is $31.50 or 2.5% more.
An ounce at spot is $3,931.80. The cheapest 1 oz bar (Gainesville Coins, $3,963.90) is $32.10 or 0.8% above it. The cheapest 1 oz American Eagle (Gainesville Coins, $4,002.79) is $70.99 or 1.8% above.
100g at spot is $12,641.02. The cheapest 100g bar (SD Bullion, $12,825.11) is $184.09 or 1.5% above.
In grams: for every $1,000 you get 7.91g at spot, 7.72g in a 10g bar, 7.85g in a 1 oz bar and 7.80g in a 100g bar.
Then there is the way back. SD Bullion sells a 10g bar for $1,316.86 and buys it back for $1,195.02, a gap of $121.84 (9.3%). For a 1 oz Proclaim Liberty bar the figures are $4,019.02 and $3,834.75: $184.27 (4.6%). The bigger bar loses less in percentage terms, but it needs a much larger sum at once.
See also: live US gold prices and the gold calculator.
Bottom line
The premium over spot is 2.5% for 10g, 0.8% for an ounce and 1.5% for 100g. The gold price changes daily; these percentages depend on bar size and dealer.
Sources: TradingKey · HawkValue dealer prices at 5:49 a.m., spot price at 8:06 a.m.
Gold prices at US dealers live →
For information only. This is not investment advice.
More news
Gold up 1.9% Monday as Brent drops 5%: 10g bar from $1,297
Gold rose 1.9% to $3,948 as Brent fell 5.4%. What a 10-gram bar costs in the US and how far it sits above spot.
Gold bar: $231 gap between buying and selling at SD Bullion
How much you lose buying and selling a 1 oz gold bar at the same US dealer: $231 at SD Bullion, with gold at $3,916 an…
Gold fell 3.7% in a week; analysts lean bearish, retail bullish
Kitco: 10 of 16 analysts expect gold to fall, 53% of readers a rise. What 1 oz and 100 g bars cost at dealers and how…
