Baird & Co.
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10 oz Gold Bar: frequently asked questions
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The cheapest 10 oz gold bar tracked on this page is £32,350.33 from Baird & Co, at 2.4% over spot. Because this is a larger denomination, the total outlay is substantial, so comparing live dealer prices before buying is worthwhile.
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Generic 10 oz gold bars are 999.9 fine gold, meaning 99.99% pure. This is the investment-grade standard used by LBMA Good Delivery accredited refiners. At this purity level, the bars are also eligible for inclusion in US IRAs and are exempt from VAT in the UK and many other markets as investment gold.
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A 10 troy ounce gold bar weighs 10 oz, which equals 311.035 grams. Troy ounces are the standard measure for precious metals and are slightly heavier than avoirdupois ounces: one troy ounce is 31.1035 g versus 28.35 g for an everyday ounce.
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No gold bar is technically 100% pure. A 999.9 fine bar is 99.99% gold, with trace impurities accounting for the remaining 0.01%. An even higher standard, 999.99 (five nines), exists but is rare and carries a significant cost premium. For all practical and regulatory purposes, 999.9 fine is treated as pure gold.
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Investment-grade gold bars are VAT-free in the UK, Canada (0%), and Australia (0%). On sale, gains are taxable in most markets: the UK taxes them at 18% or 24% with a £3,000 annual allowance; the US taxes gold gains at up to 28%; Canada includes 50% of the gain in taxable income. Specific rules vary, so verify with a tax adviser.