How to Prove Ownership of Gold Bars
Gold bars are an attractive investment choice for many investors, providing a sense of security not available from traditional investments like savings accounts or shares.
Before purchasing gold bars, however, several considerations must be kept in mind. This article will address how to prove ownership of them as well as some effective means of doing so.
Buying Gold
If you own physical gold bars, be sure to store them safely. This could mean keeping them at home in a home safe or bank safety deposit box; alternatively you could pay extra to store your bars at a bullion dealer near your area (although this will incur extra costs).
Bullion dealers are required by law to document all transactions. This serves as one way for you to prove ownership of your bullion.
As well as dealer records, most bullion bars come equipped with serial numbers that identify both their manufacturer and weight. Unlike gold coins that depend on rarity or condition for their value, investment-grade gold bars are priced purely based on their weight – making them more liquid investments that have lower premiums compared to coins.
Identifying the Bar’s Manufacturer
Many gold bars come with a sealed assay card that offers proof of weight, purity, and other crucial details that help ensure their authenticity and provide peace of mind to buyers. This safeguard helps prevent fraud while giving buyers peace of mind that the bar they have purchased is genuine.
Some cards also feature assayer’s marks engraved onto each gold bar itself, helping buyers identify its manufacturer from among hundreds of producers – something which may pose difficulty for those investing in gold bullion.
Central banks throughout the world purchase gold to strengthen their foreign currency reserves. While gold bullion may be purchased in any size, most reserve purchases typically involve 400-oz “Good Delivery” bars manufactured by private and government mints that adhere to LBMA standards.
Identifying the Bar’s Weight
Verifying the weight of gold bars is easily achievable using a precision scale, saving both time and money from embarrassing or costly mistakes. Counterfeiters have long made replica coins out of metal; however, gold’s density makes its imitators much harder.
Investment grade gold bars must meet strict LBMA standards in terms of dimensions, weight and appearance. Furthermore, these bars must bear the LBMA Good Delivery mark and come complete with certificates from both their refinery and place of origin.
BullionVault makes it easier than ever for individuals and institutions alike to verify ownership of gold by publishing an easily searchable list of owners whose vaulted stores have been reconciled against an inventory record.
Identifying the Bar’s Shape
Gold has long been counterfeited, yet spotting counterfeit bars and coins is relatively simple. Gold’s unique density and weight cannot be replicated by even the most sophisticated counterfeiters.
Investment-grade gold is typically sold in bar form, meeting specific shapes, weights, and purity standards to qualify as an investment grade investment. Furthermore, authentic bars must bear a stamp from an official mint or refinery with their name and logo as well as have a serial number marked on them to complete this requirement.
Gold bar authenticity can be easily confirmed with at-home tests such as sound testing (flicking a gold coin or bar against another metal object). Professional testing should be considered when purchasing higher value items; using an electronic precious metals verifier may be beneficial in this regard.
Identifying the Bar’s Obverse
Gold bars provide investors with a cost-effective and diversified asset allocation option that’s suitable for low premium costs over their melt values, making them an attractive option to add to any portfolio.
PAMP Suisse’s 1 kg bar of LBMA certified 99.999 fine gold boasts its corporate logo on one side, purities, weight information and unique serial number on the other. Each bar can be cross-verified against Germania Mint’s database for added peace of mind and trust when purchasing these precious investments.
This bar features the PAMP Fortuna pattern on its obverse side; this striking, repeating design gives this bar an elevated and edgy appearance. Encased in high quality CertiPAMP assay card packaging with removable film protection.
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