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Dore Bars vs Refined Gold Bars vs 999.9 Investment Bars

If you’re serious about gold, you’ve probably seen all three terms:

They all contain gold, but they’re not the same product, and they’re not designed for the same type of buyer.

This guide breaks down, in practical language:

By the end, you should know exactly which type of bar you should be asking for when you speak with a gold bar supplier.


1. Quick Definitions: Dore, Refined & 999.9 Investment Bars

What are Dore Bars?

Dore bars are partially refined metal, poured near the mine site from gold-bearing ore or scrap.

Typical features: (BullionByPost)

Dore bars are not an end product. They’re feedstock for refineries, which later turn them into high-purity bullion.

In short: Dore bars = semi-pure mine output, mainly for refineries and large industrial buyers, not small investors.


What are Refined Gold Bars?

Refined gold bars are bars that have gone through a full refining process (smelting + chemical/electrolytic refining) to reach investment-grade purity, typically 995–999.9 fine. (Gold Bars Worldwide)

They can be:

Refined bars can be produced by:

These bars are what most people think of when they say “buy gold bullion”.


What are 999.9 Investment Bars?

999.9 gold bars (often called “four-nines fine”) are a subcategory of refined bars with 99.99% purity, or 999.9 parts gold per 1,000. (Royal Mint)

Key points:

These usually come as certified gold bars from known mints/refineries, often with:

In short: 999.9 investment bars are the clean, branded bullion bars that long-term investors, wealth managers and family offices typically want to hold.


2. Certified Gold Bars, LBMA Standards & Why They Matter

When you see “certified gold bars”, you’re usually dealing with bars that:

The London Bullion Market Association (LBMA) sets Good Delivery standards for bars used in the global OTC market:

For smaller bars (1kg, 100g, etc.), “LBMA gold bars” usually means:

That’s why serious investors and institutions usually insist on LBMA-linked certification somewhere in the chain.


3. Side-by-Side: Dore Bars vs Refined Bars vs 999.9 Investment Bars

Here’s the practical comparison you actually care about:

FeatureDore BarsRefined Gold Bars999.9 Investment Bars
Typical purity~50–90% gold, plus silver/base metals (StonexBullion)≥ 995 fine (99.5%+) (Gold Bars Worldwide)999.9 fine (99.99% gold) (Royal Mint)
Typical lookRough, matte, irregularCast or minted, more uniformHighly polished, branded, serialised
Main buyersRefineries, large industrial buyersRefineries, wholesalers, some investorsPrivate investors, family offices, funds, dealers
Main purposeFeedstock to be refinedTrade, fabrication, or investmentLong-term investment / wealth storage
Docs & brandingBasic weight/purity notes; not “retail-ready”Varies: may have basic markings and assayFull certification, assay, serials; easy to verify (Gold Silver Shop 24)
Risk profileHigher technical & compliance risk if you’re not a refineryDepends on refiner and documentationLowest complexity for non-technical investors

So if you’re asking “Which should I actually buy?” and you’re not a refinery, the answer is usually:


4. Who Each Bar Type Is Really For

4.1. Dore Bars – For Refineries and Very Experienced Traders

Best suited for:

Why:

For a new investor, dore is usually too technical and risky. You’re better off letting a refinery (or a supplier like Congo Rare Minerals working with refiners) handle that stage.


4.2. Refined Gold Bars – For Traders, Dealers & Some Investors

Best suited for:

Pros:

Cons:

If you’re comfortable reading refinery docs and negotiating with multiple buyers, refined bars (even if not 999.9) can work well.


4.3. 999.9 Investment Bars – For Long-Term, Non-Technical Investors

Best suited for:

Why 999.9 bars stand out:

If your main goal is to buy gold bullion once and hold it quietly for years, 999.9 investment bars are usually the cleanest solution.


5. How Congo Rare Minerals Fits Into Each Category

Congo Rare Minerals (CRM) sits close to the source in North Kivu, DRC, with export routes via Uganda, supplying gold to buyers in Europe, the USA, Dubai, China and other hubs. (https://marketing.congorareminerals.com/)

Because they’re upstream, they see all three stages of the chain.

5.1. Dore Bars from Congo Rare Minerals

CRM works with Congolese production that can be supplied as gold dore bars, particularly for: (TradeKey)

If you’re a refinery or industrial buyer, CRM can:

For retail or first-time buyers, CRM will usually not recommend dore, because of the technical and compliance burden.


5.2. Refined Gold Bars from CRM

CRM can also deliver refined gold bars once dore has been processed:

These refined bars are what most CRM clients mean when they buy gold bullion for investment or trading.


5.3. 999.9 Investment Bars & LBMA-Linked Product

In addition, CRM works with LBMA-connected refining partners to provide 999.9 certified gold bars to international buyers, combining: (Buy Gold Bars)

This is the layer that appeals most to:

In other words, CRM can support you whether you need:


6. How To Decide What You Should Actually Buy

Here’s a simple decision tree you can use:

Question 1: Are you a refinery or do you control one?

Question 2: Do you mainly care about maximizing margin as a trader?

Question 3: Are you a long-term wealth holder?

Question 4: Are you new to physical gold?

If you’re new, your safest path is usually:

  1. Start with certified 999.9 bars from a recognized gold bar supplier like Congo Rare Minerals (via its refining partners).
  2. Use simple sizes like 100g, 250g or 1kg.
  3. Keep all documentation and store the bars with a professional vault or bank depository.

Once you’re comfortable, you can explore more complex structures (wholesale, dore, etc.) if it fits your business model.


7. FAQs: Dore Bars, Refined Bars, and 999.9 Investment Bars

1) Can a private investor safely buy dore bars?

Technically, yes – but it’s rarely a good idea.

Dore bars are unfinished metal with variable purity, intended for professional refineries. To make them work as an investment, you’d need: (StonexBullion)

For most private investors, it’s simpler and safer to buy refined or 999.9 certified bars instead.


2) Are 999.9 gold bars really better than 999 or 995 bars?

From a purity perspective, yes:

In practice, though, what matters most is:

So 999.9 from a serious refiner is ideal, but a well-recognised 999 or 995 bar from an LBMA-listed refiner can also be very liquid.


3) What exactly are “certified gold bars”?

“Certified” usually means:

This makes it much easier to:


4) How does Congo Rare Minerals help me choose the right type?

When you speak to CRM, they’ll usually start by asking:

Then they’ll steer you toward:


5) If I want to buy 999.9 investment bars from CRM, what’s the process?

In simple terms:

  1. Share your profile & target size (e.g. “I want to buy bullion bars worth about X USD.”)
  2. CRM prepares a formal quote / pro forma invoice with the bar type (999.9), quantity, route, and costs.
  3. After KYC and payment, the bars are prepared, documented, insured and shipped to your chosen vault, bank or refinery.

If you’re ready to move from theory to practice, your next step is to speak with Congo Rare Minerals and clarify which bar type matches your actual use case: dore, refined, or fully certified 999.9 investment bars.

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