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- Gold bars often sell for a lower premium than gold coins, and based on the weight of the bar, they may also have lower premiums than gold rounds. The lower premium is due to lower manufacturing costs, which provides significant advantages when you consider how much gold your dollar buys.
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Why are gold bars cheaper than bullion coins?
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The premium is one of the major factors to consider when deciding between gold bars or coins. For smaller investments, especially 1oz and under, premiums are roughly equal, and coins can even be less expensive as they are produced in far greater numbers than similarly sized bars.
Gold bars attract a smaller premium as opposed to bullion coins due to their larger unit size resulting in lower manufacturing costs. For example, it is more cost effective to buy a 1 kilo gold bar than to buy ten 100g gold bars for the very same reason.
It's true that, in percentage terms, you'll pay a lower premium if you buy gold bars. By premium, we mean the extra charge that results from the cost of manufacturing, order processing and packing, delivery and insurance.
There is no set rule or industry standard. As with most of the UK market, The Royal Mint usually applies a percentage-based premium on gold and platinum bullion products, and a fixed monetary premium on silver bullion products. e.g. Metal Value plus 5% for a gold.
Oct 26, 2018 · Gold coins are typically sold with a higher premium percentage in comparison to large gold bars as a result of higher production costs. However, smaller gold bars also incur high premiums that are sometimes higher than coins.
Jun 21, 2023 · Gold coins have features that tend to be rare in gold bars- face value, historical context, and relative scarcity. Gold coins can command a higher premium, though there are many options for savvy investors to get coins at a similar markup to bars.
Gold coins will command slightly higher premiums over the spot price than gold bars, due to the extra minting costs, and the commemorative nature of their value. Gold bars should be priced very closely to the gold spot price, with just a small additional margin from the mint and merchant.
