Dore vs Refined Gold Bars vs 999.9: Which to Buy

“Gold bar” is not a single product. The same word covers everything from a rough, semi-pure bar straight off the mine to a certified 99.99% investment bar. Choosing between dore vs refined gold bars vs 999.9 investment bars comes down to one question: do you want to refine the gold yourself, or do you want a finished, verifiable product ready to hold or resell? This guide explains the difference so you buy the right form for your purpose.

It is written from the perspective of a licensed exporter that supplies gold from the DRC and Uganda. For the wider buying process, start with our pillar guide on how to buy gold in Africa safely, and for sizing, see gold bars for sale in Africa.

The quick answer

If you operate or supply a refinery, dore (and even raw gold) can make sense, because you will refine it yourself. If you want a finished product to hold, store or resell with minimal friction, refined bars – including investment-grade 999.9 – are the better fit. Most private investors and traders should focus on refined bars; refineries and industrial buyers are the natural market for dore.

What is a dore bar?

A dore bar is a semi-pure bar produced close to the mine, typically by melting down recovered gold. Its purity is variable and usually well below investment grade, because it still contains other metals and impurities. Dore is essentially an intermediate product: it is meant to be sent on to a refinery, where its true gold content is established by assay and it is refined to a higher, certified purity. Buyers of dore are therefore those equipped to refine – not investors looking for a finished holding.

What are refined bars?

Refined bars have been processed to a consistent, certified purity. In practice this commonly means 22K and 23K bars – the grades most often traded – as well as higher-purity 24K. Refined bars come with an assay confirming their fineness and are a finished product you can hold, store or resell. They suit buyers who want verifiable gold without operating a refinery themselves.

What are 999.9 investment bars?

A 999.9 investment bar is refined to 99.99% purity – 24K – the highest standard commonly traded. These are the bars most associated with investment and reserve holding, valued for their consistency and easy verification. They carry an assay report and, for cast bars, a serial-numbered bar list. If your goal is a pure, universally recognised store of value, 999.9 is the benchmark – though, as below, it is not the only sensible choice.

Side-by-side comparison

Type	Typical purity	Further refining needed?	Best suited to
Dore bar	Variable, below investment grade	Yes – it is an intermediate product	Refineries, buyers who refine themselves
Refined bar (22K / 23K)	Certified 22K or 23K	No – finished product	Traders, jewellers, many investors
999.9 investment bar (24K)	99.99% (24K)	No – highest standard	Investors, reserve holding, easy resale

Which should you buy?

• You refine gold or supply a refinery: dore (or raw gold) lets you control the refining yourself.
• You are a trader or jeweller: certified refined bars in 22K or 23K are widely traded and practical for your use.
• You are an investor or holding reserves: 999.9 (24K) offers the purest, most universally recognised form.
• You are unsure: a finished, certified refined bar is the safer default – you get verifiable gold without the cost and complexity of refining.

Whatever the form, what protects you is the same: an assay report confirming purity, and – for cast bars – a serial-numbered bar list that matches. Learn how to read it in our guide on how to verify 999.9 gold from an assay report.

Documentation and verification apply to every grade

Dore, refined and 999.9 bars all require the same discipline: confirm purity by assay before settlement, check the three-way match between bar, bar list and assay report, and ensure the gold is documented for legal export (certificate of origin, export permit, insurance, Air Waybill). The grade you choose changes the product; it does not change the need for verification. For the export side, see our guide to the gold export procedure from the DRC.

How Congo Rare Minerals supplies each grade

Congo Rare Minerals (Reg. No. CD 893220) supplies refined gold in 22K, 23K and 24K (999.9) – most commonly 22K and 23K – and can supply raw gold or dore for buyers who refine themselves. Our Refining service covers the process from raw material to certified output, and every order comes with an assay report, certificate of origin and full export documentation, shipped insured and tracked and settled on final refinery assay. You can review our operations on the About page.

Frequently asked questions

What is the difference between dore and refined gold bars?

A dore bar is a semi-pure intermediate product meant to be refined further, with variable purity below investment grade. A refined bar has been processed to a certified, consistent purity (commonly 22K, 23K or 24K) and is a finished product.

Are 999.9 bars always the best choice?

Not necessarily. 999.9 (24K) is the purest and easiest to resell, but traders and jewellers often prefer certified 22K or 23K, and refineries may prefer dore. The best choice depends on your purpose.

Should investors buy dore bars?

Generally no. Dore is an intermediate product for refineries; most investors are better served by certified refined or 999.9 investment bars they can verify and resell.

What purity does Congo Rare Minerals supply?

22K, 23K and 24K (999.9), most commonly 22K and 23K, with raw gold or dore available for buyers who refine themselves – all confirmed by assay.

How do I confirm a bar’s purity?

Request an assay report, check the three-way match between bar serial, bar list and report, and arrange independent or refinery testing before settlement.

Do refined and 999.9 bars come with documentation?

Yes – an assay report and, for cast bars, a serial-numbered bar list, plus the export documentation (certificate of origin, export permit, insurance, Air Waybill) for cross-border shipments.