What Is One Ounce Gold?
Precious metals such as gold, silver and platinum are measured in troy ounces (t/oz). The troy weights system back dates to 1400’s, introduced within the medieval British coinage system. The abbreviated term oz is commonly used within the gold trade across the globe and the price for gold is displayed either as troy ounces or per gram / grams.
So, what is troy ounce in grams? To be precise a one ounce (or one troy ounce) contains a minimum 31.1035 grams of (.9999 fine gold) 24 carat of pure gold. If you were looking at a 1 kilo bar of gold it would have 32.15 troy ounces approx.
Pure gold is referred as 24 carat / 24k / 24 ct. The term carat for gold should not be confused with the same term used for diamonds and gemstones. When Carat is used for gold or other precious metals it defines the Fineness of the metal, when the term Carat is used for diamonds or gemstones it generally refers to their weight.
How Much is an Ounce (oz) of Gold Bullion Bar Worth Today?
How Many Grams In 1 Oz Gold Coin or Bar?
1oz gold bar or 1oz gold coin will have a minimum of 31.1035 grams of 24 carat pure .9999 fine gold. The only difference in both will be the size and shape, the amount of gold content will not be different. Coins generally tends attract higher premiums over spot when compared to bars. 1oz gold coins are approx 32.69mm in dimension where as a gold bar is rectangular shaped approx. 46mm x 26mm x 2.3mm. The dimensions can vary according to the mint and manufacturer.
Which 1oz Gold Bars Can I Buy in the UK?
If you are looking to buy 1 ounce of physical gold in the UK today, then the following bars are available from Bullionjoy online store;
1oz Best Value Gold Bar, Heraeus 1 Ounce Gold Bar, 1oz Metalor Gold Bullion Bar, 1 Unze (One Troy) Umicore Pure Gold Bar, Perth Mint Gold Bars, Pamp, Suisse 1oz Gold Bar.
Commonly bought gold bars are 1g to gift, 5 gram if you are a new investor, 1 troy ounce if you are investor moving then up to 50 gram, 100 grams being a popular gold bar, then 1 kilo gold bar.
Looking to Invest in different Sizes of Gold Bars?
We have range of best value bars, they are ideal for those who want to start investing in physical gold bullion coins or bars, yet don’t want to purchase it all at once. Investing in Gold has never been easier. Our 1 gram Gold Bar is the ideal starting point for investing in precious metals. Each bar contains a minimum of 1 gram of high-quality gold, and is minted by a globally recognised producer. Because we buy large quantities of gold, from multiple suppliers, we can pass the savings on to you! This means you get guaranteed purity at an incredibly low price.