'$13,000' 10 ounce gold bar tempts investors at Waddington's



2015-06-26 12:19:00

'$13,000' 10 ounce gold bar tempts investors at Waddington's

A 10 ounce Engelhard gold bar is expected to achieve $13,000 at a Toronto auction next week

A gold bar estimated to achieve $13,000 is expected to be one of the most expensive lots at Waddington's Numismatic & Stamp Auction on March 29.

The 10 ounce gold bar was produced by Engelhard, one of the most famous manufacturers of gold bars.

The sale takes place at the Canadian auction house's Toronto headquarters and features a number of gold and silver bars, including two lots containing pairs of Johnson Matthey 10 ounce gold bars, valued at $26,000.

The growing price of gold shows no sign of slowing down, which may tempt many investors to the auction.

Earlier this month a 2.79kg chunk of gold, known as the Washington Nugget, sold for $460,000 at an auction in Sacramento, far above the $183,000 value for a piece of gold of that size.

While the Engelhard specimen is expected to make roughly the current asking price for gold, those bars with more of a history behind them can achieve substantially more.

 Gold prices are on the rise

In 2010 a 114.65 ounce Kellogg & Humbert Assayer gold ingot recovered from the SS Central America, which sank off the coast of North Carolina in 1857, achieved $253,000 at a Heritage auction.

Next week's sale will also include an array of interesting coins from around the world.

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