Cast vs minted gold bars
A cast gold bar is made by pouring molten gold into a mould, giving a rougher, chunkier bar. A minted bar is cut from a rolled strip and struck with a die, giving sharp, shiny detail, usually sealed in an assay card. Both are typically 999.9 fine. Cast bars normally cost slightly less above spot.
How are cast and minted bars made?
Cast bars: poured
Refined gold is melted and poured into a mould of the right size. As it cools, it shrinks slightly and the top surface ripples, so every bar looks a little different. The maker's mark, weight, purity and often a serial number are then stamped into the metal. The Perth Mint, for example, says its cast bars are "stamped with The Perth Mint logo, the London Bullion Market Association (LBMA) registered mark, as well as their weight and purity". The giant 400 oz Good Delivery bars traded by banks are cast bars too.
Minted bars: rolled, cut and struck
Gold is rolled into a thin strip of exact thickness, blanks are cut out, and each blank is struck under high pressure with a design, much like a coin. The result has crisp edges and a polished finish. The Perth Mint says its minted bars "are struck with The Perth Mint logo and carry an inscription of their weight and purity", are decorated with kangaroo motifs on the back, and come "in a serial numbered, tamper-proof display card". That card is explained in what is an assay card.
Cast vs minted: side by side
| Cast bar | Minted bar | |
|---|---|---|
| How it is made | Molten gold poured into a mould | Cut from a rolled strip and struck with a die |
| Look | Rounded edges, rippled surface, each bar unique | Sharp edges, mirror or frosted finish, identical designs |
| Marks | Stamped into the bar after cooling | Struck as part of the design |
| Packaging | Often loose, sometimes with a paper certificate | Usually sealed in an assay card |
| Typical sizes | 1 oz to 1 kg (and 400 oz wholesale) | 1 g to 100 g, some 1 oz and larger |
| Scratch risk | Low; marks are part of its character | Higher outside the card |
| Purity | Commonly 999.9 | Commonly 999.9 |
| Typical premium | Lower | Higher, especially in small sizes |
What is the price difference? A real example
We captured the live price of two 1oz gold bars from the same maker, The Perth Mint, on the same morning. Both are 99.99% gold.
| Bar | Type | Price | Premium over spot |
|---|---|---|---|
| The Perth Mint 1oz Gold Cast Bar | Cast | A$6,184.39 | 2.86% |
| Australian Swan 1oz Gold Minted Bar | Minted (25,000 mintage) | A$6,214.39 | 3.35% |
GoldVetted automated price check, 11 October 2026, from The Perth Mint's online store category pages. Captured on a Sunday when the gold market was closed. Spot from gold-api.com. Premium = price / (1 oz x spot) - 1. The Swan bar is a limited-mintage design, which may add to its price.
The A$30 gap is small at one ounce. It tends to grow in percentage terms on smaller bars, where the cost of striking, packaging and the card is spread over less gold. Compare sizes on our pages for the 1 ounce gold bar, 10 gram gold bar and 1 gram gold bar, and see gold premiums explained for why small items cost more.
Which should you choose?
There is no wrong answer if the bar comes from a well-known refiner and a reputable dealer. These are the trade-offs:
Choose cast if you want
- The lowest cost per ounce at a given size
- A robust bar that does not need its packaging
- Larger sizes such as 10 oz, 100 g or 1 kilo
Choose minted if you want
- Small sizes such as 1 g, 5 g or 10 g
- A sealed card with a matching serial number
- Designs, such as The Royal Mint's Britannia minted bars or PAMP's bars in CertiPAMP packaging
Whichever you buy, keep the receipt, and keep minted bars sealed. If you plan to sell in small amounts over time, several smaller bars or coins can be more flexible than one large bar, at the cost of a higher premium.
Where to buy cast and minted bars
Most bullion dealers sell both. To compare prices where you live, see where to buy gold in the US, where to buy gold in the UK, where to buy gold in Canada and where to buy gold in Australia. Our guide to how to buy gold explains payment, delivery and storage, and the full range of sizes is in our gold bars hub.
Frequently asked questions
Are cast gold bars cheaper than minted bars?
Usually, yes, because casting involves fewer steps. In our check on 11 October 2026, The Perth Mint's 1oz gold cast bar cost A$6,184.39 (2.86% above spot) against A$6,214.39 (3.35%) for its 1oz Australian Swan minted bar. The gap is often wider on small sizes, where minted bars dominate.
Is a cast bar less pure than a minted bar?
No. Purity depends on the refiner, not the method. The Perth Mint lists both its cast and minted gold bars at 99.99% pure gold. Both types from accredited refiners are commonly 999.9 fine.
Which is easier to sell, cast or minted?
Both sell easily if they come from a well-known refiner. Minted bars sealed in their assay card are quick to identify. Cast bars are tougher and do not rely on packaging, because their marks are stamped straight into the metal. Bars from unknown brands are harder to sell in either form.
Why do cast bars look rough?
Molten gold is poured into a mould and left to cool, so the surface ripples and shrinks a little as it sets. Small marks, rounded edges and a slightly uneven surface are normal on cast bars and do not reduce their value.
Are coins minted or cast?
Bullion coins are struck (minted) from blanks, like minted bars. That is why coins and minted bars share the sharp detail and mirror-like surfaces that cast bars do not have.
What sizes do cast and minted bars come in?
Minted bars are most common from 1 gram to 100 grams. Cast bars are typically 1 oz and larger, up to 1 kilo for retail buyers and around 400 oz for the wholesale Good Delivery bars used by banks.
Sources
We checked these primary and official sources when writing and fact-checking this page.
- The Perth Mint: Cast bars (stamped with logo, LBMA mark, weight and purity; 1oz price captured 11 Oct 2026)
- The Perth Mint: Minted bars (struck, kangaroo motif, serial numbered tamper-proof card; 1oz price captured 11 Oct 2026)
- The Royal Mint: Britannia 50g gold bullion minted bar
- LBMA: Good Delivery technical specifications (cast 400 oz bars)
- APMEX: How do I verify a PAMP Suisse bar? (CertiPAMP packaging)
- Gold API: XAU/AUD spot price used for premium calculation
Not financial advice. GoldVetted provides general information to help you compare options. It is not personal financial, tax or legal advice. Gold prices go down as well as up, and you may get back less than you pay. Check tax rules with the official source or a qualified adviser before you act.