Tael bars are a widely traded gold biscuit in Asian markets.
The tael is an ancient Chinese unit of measurement and is equivalent to 37.429 grams or 1.20337 troy ounces. Their gold purity is normally 99%. Tael bars should have the stamp of the manufacturer and the Chinese Gold and Silver Exchange Society.
The most popular tael bar is the 5 tael (6.017 troy ounces or 187.15 grams) biscuit shape.
As well as the traditional gold biscuit shape, tael bars are also manufactured in ‘doughnut’ and the boat shaped bars. The boat shaped bars range in size from half tael to 10 tael and the doughnut bars are available in half, one and two tael sizes. The doughnut shape is based on an old Chinese coin design.
The main trading centres for gold tael bars are Hong Kong and Taiwan. Most are made in Hong Kong and accredited to the Chinese Gold and Silver Exchange, but some have also been minted outside Hong Kong.
The tael is used in a variety of countries, but each differs slightly in weight. 1 tael is equivalent to:
- Hong Kong: 37.429 grams
- Chinese Mainland: 50 gram (it was 31.25g until 1959)
- Malaysia and Singapore: 37.79 grams
- Taiwan and Vietnam: 37.5 grams