The trading of gold bars as bullion is widely popular in the UK as a means of investment. However, for those new to trading, it can be difficult to understand the accurate worth of your gold and what you should expect to sell or buy it for.
To help you avoid investing or selling gold bars at an inaccurate or unfair price, it’s important to stay educated on the factors that affect the final worth and the average gold bar price in the UK today.
How much is a gold bar currently worth?
The answer to how much a gold bullion bar is worth is dependent on several key factors including:
- The current live price of gold, which fluctuates daily
- The size and weight of the gold bar
- The purity of the gold bar
- The country of production and their manufacturing process
All gold bars produced and sold in the UK are restricted under the London Bullion Market Association’s (LBMA) set of Good Delivery Rules, which dictate the required purity, weights, diameters, hallmarks, and manufacturing process that must be followed. Despite this, different manufacturers use varying materials to produce their gold bars which can affect their final value long term.
When having your gold bar valued, a professional gold buyer will consider all the above components to provide you with the most accurate and fair price as close as possible to the current spot price of gold. For a rough estimate of the worth of a gold bar, you can multiply its gold content by the current price of gold.
How much is a 1kg gold bar worth in the UK?
The price for a 1kg gold bar in the UK averages at around £30,000, though as mentioned above, this will vary depending on its purity and the current price of gold on the day you have your gold valued.
The main sizes of gold bars traded in the UK range from 1kg through to just 1g. Generally, the larger and therefore heavier a gold bar, the more pure gold it will contain and the more it will be worth as bullion.
Can you own gold bars in the UK?
Yes, you can own gold bars in the UK. Gold bars are becoming an increasingly popular way to invest money due to the security in the intrinsic value of gold. Rather than storing large sums of money in a bank, gold bars offer a means to store your money safely without the risk of your money being impacted by potential inflation or the collapse of a bank or the economy.
There are various types of gold bars owned as bullion by people across the UK, including:
- Umicore
- Metalor
- PAMP Suisse
- Heraeus
- Valcambi
If you’re considering investing in gold bullion like a gold bar from one of the above manufacturers, it’s important to always do so through London Bullion Market Association (LBMA) approved refiners and ensure you receive a Certificate of Authenticity with your purchase.
Looking to sell gold bars?
If you’ve invested in gold in the past but are looking to sell your gold bars and liquidate these into money in the bank, Cash4Gold-Now offers professional valuation and gold buying services across the UK.
You can request a gold-selling pack below or contact us for more information on our valuation process to decide whether it’s the right option for you. We pride ourselves on our outstanding customer service and aim to pay all our customers within 24 hours of acceptance of an offer.
