Gold is one of the most precious materials on earth. A “gold brick” or bar usually refers to gold used for investment and held in reserve at places like Fort Knox.
What is the weight of a gold brick?
Gold is measured in troy ounces, with one troy ounce equaling around 1.097 ounces (31.1 grams).
The standard “Good Delivery” gold brick bar traded by bullion dealers is the 400-troy-ounce bar. This equates to 438.9 ounces (12.4 kg).
The kilobar is also often traded by investors and weighs 32.15 troy ounces, which is 35.27 ounces (1,000 grams).
The world’s largest gold brick was manufactured by Mitsubishi in 2005. Tipping the scales at a little more than 551 pounds (250 kg), it was valued at more than $3.6 million in 2005 and is now worth a whopping $10.325 million!
Stolen and counterfeit bars are a problem across the world and has led to manufacturers branding each bar with a registered serial number. Many manufacturers also issue certificates of authenticity.
Gold is one of the most precious materials on earth and has been used to make jewelry and other ornamental objects for thousands of years.
To date, humans are estimated to have mined nearly 180,000 tons of gold.
Amazingly, geologists believe that nearly all gold arrived on earth in the form of meteorites from outer space. This theory was first released onto the world after the Apollo moon landings in the 1970s.
~ Fun Fact ~
Annual gold trade now stands at more than $22 trillion, which is more than the Dow Jones and S&P 500 combined!