For several months now, Costco, the wholesale giant, has been offering a bright and solid option in its catalog of exceptional products: gold ingots. But what size are these investment treasures that could be perfect for gifting?
The weight of a gold bar or ingot can vary depending on its size and manufacturer.
The most common gold ingots weigh 1 troy ounce, 10 troy ounces, 100 troy ounces, 400 troy ounces, or 1 kilogram (32.15 troy ounces). However, there are also bars that weigh less than 1 troy ounce or more than 1 kilogram.
It should be noted that the weight of gold is measured in troy ounces, a unit of measure specifically used for precious metals. One troy ounce is approximately 31.1 grams.
A mega ingot of 30 kilos
In April 2020, members of Mexico’s National Guard made an unusual discovery at the Ciudad Juárez International Airport in Chihuahua.
The National Guard elements managed to secure a gold ingot weighing approximately 30 kilos 576 grams. At that time, its market price was around one million 591 thousand dollars.
“At the platform area of the air terminal, the national guards made contact with the driver of an armored vehicle for transporting valuables who intended to pick up the gold ingot. However, the waybill and the invoice presented to certify the legal acquisition and transportation had inconsistencies.
“To continue with the investigations, the person in charge of the transport, along with the secured items, was placed at the disposal of the Federal Public Prosecutor’s Office, after reading the Bill of Rights that Assist Persons in Detention and filling out the National Registry of Detentions with their data,” the National Guard reported in a statement.
Gold ingots are commonly used as a form of investment or a reserve of value, as gold is a precious and scarce metal that has maintained its value throughout history.
They are manufactured according to international standards to ensure their authenticity and quality. In addition to being an investment, gold ingots are also used in the manufacturing of jewelry and in the electronics industry.
It is important to consider that the weight of a gold ingot can also affect its price, as larger ingots tend to have a lower price per ounce than smaller ingots due to economies of scale in production and distribution.
What are the dimensions and weight of Costco’s ingots?
The gold ingots available through Costco weigh one ounce, which is approximately 31.10 grams.
In terms of length and width, the ingot comes in standard dimensions, usually around 1.57 inches long and 1 inch wide.
How much does a kilo of gold cost?
Approximately $75,080.
