Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Domestic Gold Bars or Imported Bars... Which One Should You Buy?


Wed 16 Mar 2022 | 02:07 PM
walid Farouk

Mohamed Hamed, a domestic gold dealer, has claimed that domestic gold bars are better than imported ones, affirming that domestic gold bars are a better way of investing in precious metal.

In Egypt, there are different types of gold bars to choose from, typically minted and cast. "Apart from imported bars, minted domestic gold bars are hand-cut from an alloy composed mostly of gold and copper, before stamping them with the local gold's seal and packaging it with a plastic case," said Hamed.

Buying a gold bar with a notable and trustful domestic hallmark can be beneficial in terms of safety, he says. “These bars are usually available at affordable prices as compared to their imported counterparts.”

For that reason, I think the smartest way a buyers needs to do is to ensure they’re getting the best gold bar is to buy domestic bars from a renowned gold manufacturer.

"The domestic gold bars are, produced with identifying marks by gold examiners, fondly known as, "Shihngy," that provide information about the bar’s producer, weight and gold purity, and sometimes a serial number," he noted.

"The domestic gold bar’s weight and purity depend on the customer's personal requests,"

Contributed by Ahmed Emam