Where to buy gold bars and coins (2024)

During tough economic times, gold can act as a secure haven for investors' finances, which is a large part of why so many portfolios include at least some form of this precious metal. And, while gold can help your investments withstand market turmoil, it stands out as an invaluable component of a well-rounded investment portfolio, offering a multitude of advantages irrespective of the economic climate.

And, there are a range of options to choose from, fromgold IRAs, gold futures andgold bars and coins, commonly referred to as gold bullion. Physical gold comes in diverse sizes and weights, providing you with the flexibility to align your holdings with your financial goals.

What sets gold bullion apart is its tangible nature — but gold bars and coins also tend to grow in value over time, making them a strategic addition to any investment strategy. Moreover, their inherent liquidity also allows you to easily convert these precious assets into cash, enhancing their financial flexibility.

You also have a range of options for buying physical gold. In this article, we'll explore the best places to buy your gold bars and coins to help you invest your money wisely.

Explore your top options and get started with gold investing today.

Where to buy gold bars and coins

Where you opt to buy gold depends on your preferences, but these are the best places to consider.

Licensed online retailers

Online gold retailers offer the convenience of purchasing gold bars and coins from the comfort of your own home. These dealers are a popular option due to their accessibility, wide variety of products and pricing transparency. Some even offer discounts for buying in large quantities or paying for your purchase by credit card.

However, when buying gold online, it's smart to conduct your due diligence and select a reputable seller. As with any financial product, there are scammers out there. So, look up the reviews and reputation of any retailer you're considering on sites like the Better Business Bureau and Trustpilot to make sure you'll be working with legitimate professionals who treat their customers fairly.

Some of the most trustworthy and well-known gold dealers include JM Bullion, American Precious Metals Exchange (APMEX) and American Hartford Gold.

Local precious metal retailers

You can also visit a physical store to buy gold bars or coins. This allows you to inspect the gold in person and ask staff any questions you have about its authenticity, purity and other factors.

As with online dealers, do research ahead of time to find ones with solid reputations. Compare prices between several retailers before purchasing, and bear in mind that prices from traditional retailers may be higher than online retailers due to the overhead costs of maintaining a brick-and-mortar location. And, before buying gold anywhere, be sure you know the current spot price so you can make an informed decision.

Explore how gold investing could benefit you here.

Banks

Some banks in the U.S. sell gold bars and coins (as well as silver coins). This can be a good option for investors who prefer the public accountability of a federally regulated institution. However, your options may be limited compared to what you'll find at an online retailer. You can call your local bank to find out if they sell gold.

What to look for

Wherever you purchase your gold bars and coins, there are some things to look out for to ensure you get the best product at the best price. When evaluating physical gold, consider its:

• Purity:Investment-grade gold must be at least 99.99% pure.
• Weight:The size and weight of the gold you buy will affect its cost and how easy it will be to store.
• Authenticity:Perform a DIY test such as the magnet test, ping test or float test to detect if the gold is fake or impure.
• Premium over spot price: Compare multiple sellers' prices against the current spot price of gold to ensure you get a fair deal.

The bottom line

When buying physical gold, make sure you're buying from a reputable dealer offering competitive prices and excellent customer service.

While you can buy gold bars and coins from pawnshops or individual sellers on marketplaces like eBay and Craigslist, it can be harder to verify the authenticity of their offerings, plus these sellers may have fewer reviews to rely on. It's best to stick with the options listed above to ensure you invest wisely.