24K gold bars and coins in Singapore

Bars and coins are the simplest way to hold gold. Their value comes almost entirely from the gold itself, with little or no craftsmanship to pay for, which is why many people choose them for saving rather than jewellery. Smaller bars and coins also let you build up gold gradually, a little at a time, rather than in one large purchase.

24K gold is 99.9% pure and too soft for everyday wear, so it suits bars and coins that are kept rather than worn. 22K or 24K gold explains the difference.

Under IRAS rules, gold bars, ingots and wafers are exempt from GST as investment precious metals when, among other conditions, they:

• are of at least 99.5% purity,
• can be traded on the international bullion market, and
• carry an internationally accepted quality mark.

Jewellery does not qualify, and nor do decorative or collector's items. The rules are summarised in how gold prices are set in Singapore. Ask us which items qualify before you buy.

Gold bars and coins follow the international gold price, quoted in US dollars per troy ounce and converted into Singapore dollars per gram. The price you pay also includes the seller's margin over that market price. Weight and purity are marked on each bar, so you can see exactly what you are buying. Check the day's rates on today's gold rate and compare before you buy.

	24K bars and coins	916 jewellery
Purity	99.9%	91.6%
Made for	Saving	Wearing
GST	Exempt if IRAS criteria are met	9%
Making charge	Little or none	Part of the price

Many families hold both. If you already have gold you no longer wear, you can also sell it for cash.