A Gold Bar is Now Worth $1 Million, Thanks to Record-High Gold Prices

Given this historic news, we’ve visualized the value of a gold bar in various sizes, including an iPhone 14 Pro Max for reference. Note that each bar has a different depth measurement, which is not shown in this graphic.

Data and Key Takeaways

The table below includes the full dimensions of each gold bar depicted in the graphic. Note that values are based on Aug. 21, 2024 prices ($2,510/oz).

Bar Weight (oz)	Name	Length (inches)	Width (inches)	Depth (inches)	Value
400	Good Delivery	10.70	3.72	2.03	$1,000,000
32.15	One Kilo	3.15	1.58	0.71	$80,697
16.07	Half Kilo	2.56	1.26	0.55	$40,336
1	One Ounce	1.65	0.94	0.08	$2,510
	iPhone 14 Pro Max	6.33	3.05	0.31	$1,099 (at launch)

The 400 oz bar, also known as a “Good Delivery bar”, is the standard size held and traded internationally by central banks.

Good Delivery refers to a set of rules issued by the London Bullion Market Association, which describe the characteristics of gold (and silver) bars used in settlement in the London bullion market.

For gold bars, these characteristics include:

Fineness: Minimum of 995.0 parts per thousand fine gold
Marks: Must include a serial number, refiner’s hallmark, fineness, and year of manufacture

While these types of bars are typically not bought by consumers, there are many smaller sizes of bars that can be commonly bought and sold.

This includes the one ounce bar, which we can see is much smaller than a flagship iPhone. Buying these bars is also relatively easy, if you’re a Costco member.

In fact, in April 2024, Wells Fargo reported that Costco was selling as much as $200 million in gold bars every month.

Source: Visual Capitalist