Knowledge
Gold bars or gold coins? Premiums, flexibility and resale compared
Bars have the lower premium, coins are more flexible and recognised worldwide. Which form suits which investor?
If you want to buy physical gold in Germany, you will soon face the question: bars or coins? Both are VAT-free as investment gold, but they differ in price, denomination and resale.
The premium determines the cost
No dealer sells gold at the pure spot price. On top comes a premium (Aufgeld) for production, logistics and margin. The larger the unit, the smaller this premium is in relative terms:
| Product | Typical premium |
|---|---|
| 1 g gold bar | 8–15% |
| 10 g gold bar | 3–5% |
| 1 oz gold coin (Krügerrand, Maple Leaf) | 3–5% |
| 100 g gold bar | 2.3–3.5% |
| 1 kg gold bar | 1.5–2.5% |
These are typical values and vary depending on the dealer and market conditions. You can find current melt values under gold bars and gold coins.
Advantages of gold bars
- Lowest premium from around 100 grams
- Space-saving to store
- Accepted worldwide if made by LBMA-certified refiners (e.g. Heraeus, Umicore, Valcambi)
Advantages of gold coins
- Flexible: you can sell individual coins instead of a whole bar
- Internationally known and harder to counterfeit
- More resistant to scratches and signs of handling
The right mix
Many investors combine both: a core of larger bars for the low price per gram and a few 1-ounce coins for flexibility. Small bars under 10 grams rarely make sense as an investment because of the high premium, but they make good gifts.
What to look out for when buying
- Reputable dealers with a legal notice (Impressum), a landline number and transparent prices
- For bars: manufacturer, serial number and certificate
- Always compare prices with the current spot price
Note: this article is not investment advice.