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What is T T Bar?

What is T T Bar?
BTC Stories
Ahmed Mamdouh

August 1, 2023

The TT Bar, aka the “10 tola” bar, is the latest release from Bullion Trading Center (BTC), the leading bullion trading and gold refining company in Egypt and the Middle East. The new bar is characterized by its smooth, elegant, and precise design, as well as its distinctive weight and comparatively lower labor cost, making it an ideal choice for many who wish to acquire the yellow metal that has served as a store of value and an inflation hedge for thousands of years.

The “TT Bar” weighs nearly 116.65 grams and typically comes in 24-karat gold, along with the traditional purity grade of 99.9%. It is the newest gold bar from BTC, as the company constantly works on offering a variety of weights and designs for gold bars and coins.

Below, we will shed light on the meaning of the word “tola”, what the origin of this word is, and its relationship to gold bullion. Then we will tackle the 10-tola bullion in particular and why it is a very special product during the current period.

What is Tola?

Tola, also transliterated as “tolah” or “tole,” is a traditional Indian unit of weight. One tola = 0.375 ounces or 11.6638 grams, although it is sometimes referred to as 11.33 grams as well. It is an Indian word derived from the Sanskrit word ‘tula’, which is defined as a balance, scale, or weight.

The use of the word tola as a measure of gold dates back to India during the British colonial period and some South Asian countries, where “tola” was used as the base unit of mass to weight and measure agricultural grains introduced in 1833.

In fact, the term tola dates back even further, when the tola was used to weigh seeds and other grains in India. In the past, the exact weight of a tola varied according to the locality, as one tola was traditionally the weight of 100 Ratti seeds, a native medicinal plant grown in India and also known as “Rosary Pea” or “Gunja.”

Tola’s Relationship with Gold Bars

Metric units officially replaced the tola unit of measurement in 1956, but it was then used as a unit of measurement for gold. Actually, tola is still in use as a gold bullion denomination in countries such as India, Bangladesh, Nepal, Pakistan, and Singapore. To date, 10 tola bars or TT Bars are still the most traded in the local gold markets in India, Singapore, and the Middle East, given their distinctive weight of 3.75 ounces or almost 117 grams.
It is estimated that two million TT gold bars are minted each year, where it is the most popular bar in India due to its relatively low making fees. India’s imports of 10 tola bars exceeded 40 million bars during the period between 1990 and 2002, retaining its place as the most popular gold bar in India.

Weights less than 10 tola are also manufactured, ranging from 1 tola (11.66 grams) to 5 tola (58.3 grams), to suit gold buyers with lower budget plans.

Generally, if tolas are round in shape, they are commonly referred to as “coins” in India and the Middle East. Regarding design, tola bars are known for their perfectly shaped and smooth rounded edges and are usually 24-karat gold with a purity of 999.

It is worth noting that tola bars are minted by a large number of gold refineries all over the world, and are widely used in most of the gold markets in the United Arab Emirates and in all countries of the Gulf Cooperation Council.

Why is BTC’s TT Bar your smartest choice?

The 10-tola bar is suitable for gold retailers, corporations, and individual buyers with a high budget in the local market, as it is not subject to value-added tax or any other tax; thus, it offers comparatively low making charges.

BTC launched the 10 Tola, or TT Bar, during the month of July 2023, with a weight of 116.65 grams and in 24-karat gold, while the workmanship and stamping fees are 43 pounds per gram and 1.5 pounds per gram respectively. As for our exclusive cashback policy, customers shall refund 13.5 pounds per gram, provided that the product is preserved in its original sealed package.

Now you can buy the TT Bar now via this link or through one of our accredited distributors.