ingot

noun in·got \ ˈiŋ-gət \
Updated on: 13 Oct 2017

Definition of ingot

1 :a mold in which metal is cast
2 :a mass of metal cast into a convenient shape for storage or transportation to be later processed

Recent Examples of ingot from the Web

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'ingot.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Did You Know?

An ingot is a mass of metal that has been cast into a size and shape (such as a bar, plate, or sheet) that is convenient to store, transport, and work into a semi-finished or finished product. The term also refers to a mold in which metal is so cast. Steel ingots range in size from small rectangular blocks weighing a few pounds (or kilograms) to huge, tapered, octagonal masses weighing more than 500 tons (450 metric tons).

Origin and Etymology of ingot

Middle English, perhaps modification of Middle French lingot ingot of metal, incorrectly divided as l'ingot, as if from le the

Other Metals and Metallurgy Terms


Financial Definition of INGOT

ingot

What It Is

An ingot is a material -- usually metal -- that has been formed into a shape that eases its transportation.

How It Works

Gold nuggets are hard to count, inconvenient to weigh and difficult to transport. Melting the gold and forming it into bars makes things much more convenient. Below is an image of gold ingots from the Federal Reserve.

Note that ingots don't always have to be bars; the idea simply is to condense and organize the material, as many cultures have done for thousands of years.

Why It Matters

The Federal Reserve Bank of New York provides, among other things, gold storage for foreign governments and central banks. This gold is in the form of bars, which allows the bank to weigh it, stack it, and move it easily. In the United States, the Federal Reserve creates gold bars in three locations: Denver, San Francisco and New York. As of 2012, the Federal Reserve Bank of New York housed approximately 530,000 gold bars weighing a total of 6,700 tons. The gold is stored in a series of metal cages, each one dedicated to a separate account holder.


INGOT Defined for English Language Learners

ingot

noun

Definition of ingot for English Language Learners

  • : a solid piece of metal that has been formed into a particular shape (such as a brick) so that it is easy to handle or store


INGOT Defined for Kids

ingot

noun in·got \ ˈiŋ-gət \

Definition of ingot for Students

:a mass of metal cast into a shape that is easy to handle or store

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