4 1-ounce gold bar benefits you may not know

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Diversifying your portfolio with gold investments can be smart at any time, but in today's economic climate, it can be particularly wise. Gold has long been known as a hedge against inflation , and with economic concerns still at the forefront, it can also be a good way to balance risk and protect your wealth, too.

If you're looking to get started in gold investing , 1-ounce gold bars can be a good place to begin. You can buy these at precious metal retailers , pawn shops or even big-box stores like Costco , so they're easy to find. According to experts, they offer many perks, too, which we will break down below.

See how the right 1-ounce gold bar investment could benefit you here now .

4 1-ounce gold bar benefits you may not know

Considering investing in 1-ounce gold bars now? Here are four benefits to be aware of:

They're cheaper

If you're buying physical gold, you'll typically look to either bars or coins. And while coins are smaller — they're often collectibles, which means a premium on the price .

One-ounce bars are right in the middle of gold bar options — smaller than the hefty 1-kilo bars, but larger than the tiny 1-gram ones. According to some pros, they can be a better option if you're working with less capital or just want to get more for your money.

"Bars are generally cheaper than coins, easy to store, and maintain the value of the gold in them simply due to gold's fungibility," says Ben Nadelstein, head of content at precious metals marketplace Monetary Metals. "They're generally an economical choice for those seeking price exposure and a bit of monetary insurance."

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They're easy to sell

One-ounce bars are also good if you want options down the road. As David Hollander, founder of Liberty Group, a wealth management firm in California, explains, "They're often favored for their balance between value and liquidity."

Nick Fulton, managing partner of USA Pawn Stores of Mississippi and chairman of the Mississippi Pawnbrokers Association, actually recommends 1-ounce bars and coins (or smaller) if liquidity is your goal.

"They are easier to sell when you need access to quick cash," Fulton says.

They're easy to store

Short on space at home? Don't want to rent out a storage unit or safety deposit box for your gold investments ? One-ounce bars can be a good choice then, too.

"It takes up very little space," says James Cordier, a commodities expert and founder of the Cordier Commodity Report. Depending on how many you buy, a small safe or lockbox may be sufficient for storing one-ounce bars. Just make sure it's hidden out of view and only you (and those you approve) have access to it.

They're good for beginners

Finally, one-ounce bars are simply a good starting point for beginning gold investors , allowing them invest without a whole lot of capital or research. "Buying a 1-ounce bar from Costco or Walmart is a simple, effective way to start investing in gold for beginners," Nadelstein says. "It can spark a lifelong interest in the asset class."

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A trade-off

Keep in mind that the smaller you go in denominations, the more you'll usually pay per ounce of gold. So while 1-ounce gold bars may be more cost-effective than buying coins, if you have a lot of capital you may be better off buying a larger bar instead — as long as you have the storage for it.

As Hollander puts it, "Smaller bars or coins may offer greater flexibility in selling portions of your holdings, while larger bars might be more cost-effective per ounce. It's important to weigh these factors along with your investment strategy."

An investment professional can help you weigh the pros and cons of each gold denomination and determine what's best to buy for your goals and budget. They can also discuss other gold investing opportunities with you, such as gold IRAs or gold ETFs .