A German teen, 16-year-old,unexpectedly found a 500g bar of gold while swimming in a lake in the German Alps.
- The German teen handed the gold bar to the police.
According to police officer, they are still trying to figure out where the gold bar comes from and how it got into the Koenigssee lake, a popular tourist destination near Berchtesgaden on the border with Austria.
The gold bar was said to be part of a legendary hoard that supposedly hidden in the lake, not far from Hitler’s Obersalzberg mountain retreat, according to rumors.
But German officials say the gold bar has nothing to do with the Nazis and was from a different time period.
A gold bar, also called a gold ingot or gold bullion, is a quantity of refined metallic gold of any shape that is made by a bar producer meeting standard conditions of manufacture, labeling, and record keeping. Larger gold bars that are produced by pouring the molten metal into molds are called ingots. Smaller bars may be manufactured by minting or stamping from appropriately rolled gold sheets.
The standard gold bar held as gold reserves by central banks and traded among bullion dealers is the 400-troy-ounce (12.4kg or 438.9 ounces) Good Delivery gold bar.
The kilobar, which is 1000 grams in mass (32.15 troy ounces), is the bar that is more manageable and is used extensively for trading and investment. The premium on these bars when traded is very low over the spot value of the gold making it ideal for small transfers between banks and traders. Most kilo bars are flat, although some investors, particularly in Europe, prefer the brick shape.
Gold bars are classified into two different types, cast and minted, based on their method of manufacturing. Cast bars are made by pouring molten gold into an ingot mold to shape the gold product. Minted bars are made from gold blanks that have been hand cut to the required dimensions from a flat piece of gold. Markings are almost always applied by presses.
Gold is measured in troy ounces, often simply referred to as ounce when the reference to gold is evident. One troy ounce is equivalent to 31.1034768 grams.
Commonly encountered in daily life is the avoirdupois ounce, an Imperial weight in countries still using British weights and measures or United States customary units. The avoirdupois ounce is lighter than a troy ounce; one avoirdupois ounce equals 28.349523125 grams.IMAGE/AP