Recent Examples of ingot from the Web
The Aviator concept’s grille is spectacular, made up of little chrome ingots jutting out from the now familiar Lincoln nose.
For now, the company churns out only a few ingots per day, far from the 50,000 metric tons it's vowed to produce by 2022 - about 4.5 percent of global primary production in 2017.
Preliminary reports suggest that more than 172 ingots weighing 3 tons, more than 6,000 pounds, showered the ground below.
To help perpetuate the fraud, organizers showed customers the glistening inside of a vault which appeared to hold their gold ingots.
Shortly after, Nemo began bringing up ingots and coins, and along with them, a time capsule from the previous century.
The artwork will depict eight dogs and a moon gate in an Asian garden with gold coins and ingots — symbolizing good fortune — and a firecracker overhead.
That covers nearly 150 different categories of products, covering everything from stainless steel ingots to spoons and paper clips.
Its foreign-currency reserves have dwindled from a high of $43bn in 2008 to just $10bn now, much of it in the form of solid gold ingots.
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
First Known Use: 14th centurySee Words from the same year
Financial Definition of 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
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
Seen and Heard
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