How much is a gold bar worth?

Question

I found a gold bar in Michoacan Mexico underground. It weighs about 3 pounds and wonder what its worth. What should I do? Should I sell it in Mexico? What if its worth alot of money? Any advice? Please help?

Answer 1

Lucky.

if its pure it work about $34,650 USD. Prices don't vary much from country to country, just the curreny unit. Sell it where you feel safe doing such a transaction.

Answer 2

Is it %100 gold? Gold is $800 an ounce!

Answer 3

People do not simply drop gold bars.  You need to find out where it came from and who, if anyone, it might belong to.  If you can post a picture it might be possible to decipher the markings.  If your weight estimate is accurate, it's worth about $28,000.

Incidentally, if by some weird chance it has archaeological significance, you could be in major trouble taking it out of the country.  On the other hand, Mexican cops are even more corrupt than Chicago cops.  Any number of banditos, in or out of uniform, would gladly slit your throat for that little bauble.  Good luck, hope you make it back in one piece.

Answer 4

Gold is worth $789.10US / troy ounce, or 25678.80US / kilo.

Are there any markings at all on the bar?  Precious metals are usually marked with fineness (.999), or more rarely K (24K), and usually are marked with the weight.  If it's real, it's worth around $35,000US.

Gold prices are pretty much the same all around the world, so it doesn't matter much where you sell it.  But if you carry a 3 lb. gold bar across the border, the customs folks will have lots of questions for you.

I don't know how much gold you are allowed to bring into the country, but I know that the government records cash transfers of $10,000 or more.  So $35,000 worth of gold might make waves.

So you might want to sell it in Mexico, if you have any contacts there.

I have never sold gold in Mexico, so I have no specific advice on that.

The other possibility is that it's fake.   3 pounds = 1360.777 grams, divide by 19.3 grams / cc = 1046.75 cubic centimeters.  Measure the bar in centimeters and multiply the h x w x d.  If it's more than 1046.75 cubic centimeters, than it's not pure gold.  It might be gold alloy, but gold bars are usually 24K or .999 fine.

In either case, watch out for the guy who buried it.

Good luck!

Grandpa