Buying a 1 kg gold bar in Singapore: what to check and how it works

Why a kilo bar usually carries the lowest premium per gram

Every bar costs something to make, test, ship and sell on top of the gold inside it. A good part of that cost barely changes with size: one stamp, one serial number, one sale at the counter, whether the bar weighs 5 g or 1,000 g. Spread over a thousand grams, it works out to very little per gram, which is why the kilo bar is usually the lowest-premium way to buy gold by weight.

A kilo is about 32.15 troy ounces. To compare it fairly with smaller bars or coins, look at the price per gram or per ounce rather than the total. Our premium is shown openly on every product page and prices follow the live world spot price through the day, so see live prices on our site to compare sizes side by side.

The catch is that a kilo bar is one piece. You can't sell a corner of it. Some people prefer to hold the same weight across several smaller bars and accept a higher cost per gram for the flexibility. That choice depends on what you want the gold for, and only you can make it.

What to check on the bar: refiner, serial number, fineness and weight

Before you accept a kilo bar, look at its face properly. It takes a minute, and it's the one moment you have the bar and the paperwork in front of you together. Many kilo bars are cast rather than minted, so the surface can look slightly rippled and the edges softer than a shiny small bar. That's normal.

You should be able to read four things clearly:

• The refiner's name or logo, for example PAMP, Valcambi, Argor-Heraeus, Metalor, Heraeus or Perth Mint
• The weight, shown as 1 kg or 1000 g
• The fineness, usually 999.9
• A serial number stamped into the metal

Matching the serial number to the invoice and assay paperwork

The serial number is the bar's identity. Check that the number on the bar matches the one on your invoice and, if the refiner supplies one, the assay certificate. Take a photo of it once you're home. If you ever sell the bar or need to describe it, that number ties it to your purchase.

Not every kilo bar comes with a separate certificate. It depends on the refiner and the type of bar, and some cast bars carry all their details on the metal itself with no card at all. Keep whatever does come with it in one place, together with our invoice.

Paperwork helps, but the gold is the point. Every piece we sell is tested before it goes out, with a PMV (Precious Metal Verifier) and XRF, and PAMP bars get a Veriscan check as well. Ask to see the bar and its markings at the counter before you take it; we're glad to show you.

ID checks above the S$20,000 PSPM threshold

A kilo bar will almost always cost more than S$20,000, and that brings in the Precious Stones and Precious Metals (Prevention of Money Laundering) Act 2019, the PSPM Act. Bullion King is registered with the Ministry of Law under that Act. Our registration number, PS20260001016, is on the About page and in the footer of the site.

For purchases above S$20,000 we take your NRIC or passport details. Every registered dealer has to do this, so it isn't anything personal. For cash and cash-equivalent transactions above that amount, dealers must also carry out customer due diligence and file a cash transaction report, and records have to be kept. Bring your NRIC or passport and the check is quick.

Buying for a company, or sending someone else to collect? Message us first and we'll tell you what we need. The Ministry of Law has the full PSPM rules if you want the detail.

Paying for a kilo bar: bank transfer, PayNow, cash or card

Most people buying a kilo bar pay by bank transfer, either online when ordering through our shop or in person at the counter. PayNow works too. Many banks cap daily transfers and PayNow, though, so check your limit a few days ahead, because raising it can take time and the counter is a bad place to find out.

Cash is accepted in the shop. Counting a sum that size takes a while, and the PSPM requirements above apply. Card is also taken in store with a fee, which adds up on a purchase this large, so ask us about it first. Since prices move with spot during the week, check the live price when you're ready to pay. At weekends, when the world market is closed, we sell at the last closing price.

On tax, investment precious metals are exempt from GST in Singapore. Gold bars of at least 99.5% purity from a refiner accredited by a recognised market body such as the LBMA, carrying the refiner's mark, fineness and weight, qualify. A 999.9 kilo bar from a recognised refiner fits that description, and IRAS's e-Tax guide sets out the full conditions.

Collecting your bar or having it delivered

Self-collection at our shop is free. We're at unit 01-17, Centrium Square, 320 Serangoon Road, Singapore 218108, open Monday to Saturday 12pm to 8pm and Sunday 2pm to 8pm. You don't need an appointment, but for a kilo bar a quick WhatsApp beforehand lets us have it ready. Bring your NRIC or passport.

A kilo bar is smaller than most people expect and far heavier than it looks. A sturdy bag helps, and most customers take a taxi or drive rather than walk about with it. If you'd rather not come in, delivery within Singapore is by courier.

At home, keep it in its original packaging and try not to handle the faces with bare fingers. Gold itself doesn't tarnish in our humid weather, but a bar kept clean and unscratched, with its packaging intact, is simpler to deal with when you come to sell.

Selling a kilo bar back later

We buy gold back, kilo bars included. The bar is tested at the counter and the final amount is set after testing, at that moment's price. Bringing the original invoice and any certificate speeds things up. Our Sell page walks through the process.