What a shock it is to see the price. If you’ve ever looked up the price of a 10 oz gold bar, you might have dropped your jaw faster than you could say “hedge against inflation.” Ten ounces may not sound like a lot, but when you look at the market and do the math, you realize you might be carrying a fortune the size of a bar of soap. Prices of gold change all the time, sometimes faster than the weather in April. So let’s get right to how much is a 10 oz gold bar worth.

To start, gold is exchanged in troy ounces. The word “troy” doesn’t have anything to do with horses, even if it seems like it should. A troy ounce is about 31.1035 grams, which is just a little bit heavier than a regular ounce from the grocery store. So, a gold bar that weighs 10 ounces is 311 grams.

Next, let’s look at the gold spot price for today. That’s a fancy way of saying how much one ounce of gold is worth right now. Gold is currently worth about $2,300 an ounce. If you multiply 10 by $2,300, you get a gold bar worth $23,000. Depending on how the market is feeling, it can be a little more or less. To put that in context, that’s enough for a new car, a year’s worth of rent, or a really fancy vacation.

But here’s the twist: Dealers aren’t operating charity, though. When you buy gold, you normally have to pay a little extra, which is called the premium. This includes making the coins, taking care of them, and, of course, the dealer’s cut. The pricing always includes a little extra. For a 10 oz bar, the premium is usually lower than for small coins. This is because bigger bars entail lower premiums per ounce. Still, expect on spending an extra $100 to $200 each bar, sometimes more and sometimes less, depending on the brand and how hard it is to find.

Now let’s go into “sell mode.” When your mind starts to race with thoughts of a big windfall, keep in mind that selling isn’t as straightforward as buying. Most buyers give just below the spot price, and sometimes they pay a little extra for well-known brands. The condition is also important. Dings, scratches, or fingerprints that you can’t explain can mean lower offers. If you keep your bar in its original packaging, you might be able to get a little extra for it.

Don’t forget to check for authenticity. There are scammers out there, especially when costs are really high. Always buy from vendors you can trust, like huge stores or major exchanges. You don’t have to get your bar certified, but it can help you sleep better at night.

Taxes? Yes, governments love to get a piece of the pie. In some countries, you don’t have to pay sales tax when you buy gold bars. But if you sell them and make money, you might have to pay capital gains tax. Laws are harder to figure out than a Rubik’s Cube, so don’t get your hopes up for a tax-free payout.

So what makes the bar worth more? Reputation is also important, in addition to spot price and premiums. Perth, Royal Canadian, and PAMP are all well-known mints that sell for a little more. Even if the gold is the same, a regular bar that isn’t as well known might sell for a little less.

Safety-deposit boxes are a conventional way to store things. Some people feel safer sleeping with gold locked up at home, while others prefer to use professional vaults. There are pros and cons to each approach, such as cost, liquidity, and ease of use. It’s crucial not to show off your gold bar to everyone at the family barbecue. That never ends well.

Buying or selling ten ounces of gold is not a little deal. Now is an interesting moment to buy physical gold because prices are always changing and people throughout the world never seem to get enough of it. Before you dash out to sell Grandma’s relic, remember to check today’s pricing, think about the premiums, and keep that gold bar safe from both burglars and butterfingers. If gold is king, then information is your faithful knight.