How Much are Robinhood’s Gold Bar Giveaways Worth?

Robinhood announced that it is offering a 1,000 Gold Bar Giveaway, giving investors – or just people who deposit money on their platform – a chance to win real gold simply by depositing money into their accounts. From March 7 to March 31, every eligible dollar deposited counts as an entry into the sweepstakes. No trading is required—just deposit and hold your funds until the end of the promotion period to keep your entries. The winners will be announced on April 21, 2025.

Giving away gold bars sounds fancy, but everyone wants to know is: how much are these gold bars from Robinhood actually worth?

To view the promotion, along with the terms and conditions, you can visit Robinhood’s promotion page here. We’re not a Robinhood affiliate or anything, but we do get excited when people talk about gold bars.

Key Details of the Giveaway:

• Prizes:
  • 1 grand prize winner will receive a 1-kilogram gold bar
  • 999 winners will each receive a 2.5-gram gold bar
• How to Enter:
  • Deposit money into your Robinhood investing account (every $1 = 1 entry)
  • Keep your funds in the account through March 31 to maintain entries
  • Max 1,002,000 entries per person
  • Mail-in entry option available (no deposit required)
• Important Rules:
  • Most withdrawals before March 31 reduce entry counts
  • Some withdrawals (like stock or crypto transfers out) result in disqualification
  • Open to U.S. residents, 18+

Again, for the actual legal terms and conditions visit their website for the details on the promotion.

You may have seen in the news over the past couple years that Costco started to sell gold bars. Costco sells gold bars that are 1 oz each, and the calculation would of course be very similar. The grand prize for this promo – a 1 KG gold bar – is much bigger. To be precise, 1 KG is equal to 35.274 ounces, so this is certified pirate chest treasure compared to a simple Costco gold bar.

On the other hand, the 2.5-gram gold bar prizes are MUCH smaller. 2.5grams is equal to only 0.08818 ounces.

For detailed pricing information, you can read our guide on calculating the value of gold. For now, we’re just going to skip to the good stuff – determining the value!

Grand Prize: Value of 1 KG Robinhood Gold Bar

Let’s start with the basic formula for the price of gold:

Value = (Price of Gold) * (Fineness %/Purity) * (Weight)

Keep in mind that the price of gold is reported by weight, with a “troy ounce” being the most popular measure of gold price. In this case, since the bar is measured in KGs, we’ll need to convert the price of gold,

Part 1: Price of Gold = Current market price of gold in Troy Ounces

As of writing this, the price of gold is $2936/ounce, which converts to $94,388/kg. Goldprice.org has an option to select “kg” on their price chart, so it couldn’t get any easier.

Part 2: Fineness % = Proportion of your gold that is pure gold

Since this is 24k (pure) gold, there’s no adjustment for purity. If it were 14k gold it would be worth much less, but investment-grade gold bars are 100% gold. So this part of the formula is just “1”.

Part 3: # Weight of the gold in kilograms

Since we have the price of gold in KG and this bar weighs 1KG, this is a pretty boring calculation. It’s just “1” again.

Putting it together:

Value = (Price of Gold in KG) * (Fineness %/Purity) * (Weight in KG)

Value = $94,388/kg * 100%* 1kg = $94,388

Other Prizes: Value of 2.5 Gram Robinhood Gold Bars

This requires a little bit more calculation since it’s not just 1 gram/kg/ounce of gold, which is what calculators frequently display. Here’s how this calculation would work:

Part 1: Price of Gold = Current market price of gold in Troy Ounces

There are 1000 grams in a kg, so we just need to move the decimal point from the above calculation to come up with $94.39/gram. Goldprice.org has an option to select “g” on their price chart too.

Part 2: Fineness % = Proportion of your gold that is pure gold

Since this is 24k (pure) gold, there’s no adjustment for purity. This part of the formula is just “1” again.

Part 3: Weight of gold in grams

Since we have the price of gold in grams and this bar weighs 2.5 grams, we’ll enter in “2.5” to this part of the formula to calculate the value.

Putting it together:

Value = (Price of Gold in Grams) * (Fineness %/Purity) * (Weight in Grams)

Value = $94.39/kg * 100%* 2.5g = $235.98

You’re not getting rich like you are with that grand prize, but it’s not a bad take at all. At Cash for Gold Mailer, we pay 90%+ on gold bullion, so you’d recover most of that value even if you immediately sold it.

The value of gold is always fluctuating, so check the current price of gold and adjust the above calculations to figure out the current value.

POSTED IN: 24k gold, Gold Bars, Gold Purities, Gold Valuation, Gold Value Calculator, Value of Gold