What is the Difference Between Cast Gold Bars and Minted?

Not all gold bars are made the same. Literally. Some gold bars are cast, while others are minted.

A gold bar is cast by pouring molten gold into a mold and letting it cool. A gold bar is minted by subjecting a blank, not unlike those used for coinage, to the pressures of a hydraulic press and minting process.

The two procedures result in bars that are noticeably different in their appearance. In turn, the two types of bars appeal to different types of investors.

If you’re thinking about buying gold bars, this page will describe the differences between the two types of bars, along with what types of goals they achieve.

Key Differences: Cast Bars vs. Minted Bars

What Are Cast Gold Bars?

Production Process

Casting gold bars is a simple process. Gold is melted in a bucket, then poured – while still molten – into a mold or frame.

The caster then ensures that no air bubbles or contaminants fall into the gold while it cools. Once the gold is solid, it is knocked out of the mold and prepared for sale.

Appearance

Cast gold is usually not polished after it cools. It is usually available with the same surface texture and appearance that it developed when it cooled.

So, cast gold may appear slightly duller than you’d expect if you’re used to polished and shiny gold. It’s still gold and still shines – just maybe not as much.

The bars are generally rectangular, but usually have soft or rounded edges. You may even find some that are cast in a trapezoidal form.

However, the hallmark of the casting method is the unique pattern that each bar presents on its surface. The combination of the different currents present at casting and any nicks or other variations meant that each one is its own piece – particularly on the side without the engravings.

In general, the purity mark for the bar will be stamped into the bar in a perfunctory manner. There won’t be much ornamentation in its appearance, if any.

Cost and Premiums

Any gold bar is likely to be available for a lower cost/lower seller’s premium than a coin of the same size. However, cast bars are usually slightly cheaper even than minted bars due to the simplicity of their production processes and their unpolished characteristics. Since a casting foundry isn’t worried about paying skilled craftsmen to perfect the bars’ appearances, they can sell for a bit less.

Learn more about costs and premiums: 

• Premium over spot
• How the spot price is set
• Gold price today

Popular Cast Gold Bars

Many of the most popular cast gold bars are quite large, as casting is much more common for the larger bars. Top cast bars include:

• 1 Kilo Valcambi Cast Gold Bar
• 1 Kilo PAMP Suisse Gold Bar
• 500 Gram Valcambi Cast Gold Bar

What Are Minted Gold Bars?

Production Process

Minting a gold bar is quite similar to minting a coin. The mint begins with a sheet of gold with the correct width, then uses a hydraulic press (with two dies striking at the same time) to create the bar.

Because there is no heat involved, there is no need to safeguard the gold’s transition into a bar. However, most minted gold bars must then undergo extensive engraving and packaging procedures.

Appearance

Minted gold bars have a higher quality look than cast bars, though both of them are identically pure in composition. They are shiny and extremely polished.

They are also quite uniform in appearance. They have sharp corners and are easy to stack.

Perhaps the biggest difference that sets minted gold bars apart is their design. Minted gold bars are intricately engraved with their purity marks and their brand logos. These designs are quite significant and are works of art in their own right.

You may also tell the difference between the two by the way they are packaged. Because there is a coin-like quality to minted bars, where the condition of their engravings can add value to them, they are usually sealed hermetically in plastic, have extra security features on them, and often bear a certificate of authenticity.

Cost and Premiums

Because of their extra care, appearance, and craftsmanship, minted gold bars typically command higher premiums than cast bars. However, their primary value remains in their metal value, so they are going to have lower premiums than coins of the same size.

Speaking of size, the absolute price of minted bars is usually less than the absolute price of cast bars for one simple reason: their size. Minting is typically reserved for smaller bars, and larger cast bars – though rustic – tend to go for tens of thousands of dollars.

Popular Minted Gold Bars

Here are some of the most popular minted gold bars:

• 1 oz. Sunshine Gold Bar
• 1 oz. Valcambi Gold Bar
• 1 gram Asahi Gold Bar

Which type of gold bar is right for me?

There is no “wrong” gold bar to buy. Both cast gold bars and minted gold bars are solid investments and allow you to build up the amount of pure gold under your control. However, you may choose one type of gold bar over another based upon your investment goals.

If you are purely trying to compile bullion, then there’s no question that cast gold bars are the way to go. They are both less expensive, pound for pound, and larger in size and weight. However, it can be more difficult to trade these pieces due to their size, so they may not be the right choice if you need liquidity.

On the other hand, there is more of a ceremonial and aesthetic element associated with minted gold bars. They have more appealing designs, and are better for investors looking to buy high-quality investments. However, you can expect to pay a premium for these advantages, as minted bars are not the cost-effective option compared to cast bars.

Whatever the case, we’re here for you. Get in touch with JM Bullion and get some gold bars, either cast or minted, on their way to your door.