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Gold has long been prized for more than its luster. For centuries, it’s been a trusted store of wealth and a symbol of financial security. Even now, in a world of economic uncertainty, gold continues to hold its ground. Unlike stocks and bonds, which rise and fall with the markets, gold often moves independently — making it a valuable tool for portfolio diversification during inflationary spikes and market volatility.
Lately, economic headwinds have sparked renewed interest in gold as an investment. The price of the precious metal has surged significantly since the start of the year, catching the attention of seasoned investors and newcomers alike. And with multiple ways to gain exposure — from physical gold to gold-focused exchange-traded funds (ETFs) and gold mining stocks — there are plenty of avenues to weave gold into your financial strategy.
But physical gold holds a special appeal for many. Owning bars or coins gives you a tangible, hands-on asset that isn’t linked to any corporation or government. It’s also highly liquid, meaning you can convert it to cash quickly — an advantage in times of market stress or when access to funds is critical. So where can you buy physical gold bars and coins? Here’s what you need to know.
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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
The digital revolution has transformed how investors acquire precious metals, with licensed online retailers emerging as a sophisticated and convenient channel for purchasing gold bars and coins. These platforms have democratized access to precious metals investing by combining extensive product selection with educational resources and competitive pricing structures.
Leading online gold retailers utilize advanced security measures and transparent pricing models to build trust with investors. Many platforms provide real-time pricing updates that track spot gold prices, allowing you to make informed decisions about your purchases. The competitive nature of online retail often results in lower premiums compared to traditional brick-and-mortar establishments, as these digital platforms operate with reduced overhead costs.
However, the key to successful online gold purchasing lies in selecting a reputable dealer. When evaluating online retailers, pay particular attention to customer service quality, shipping security protocols and authentication guarantees. The best platforms offer detailed product specifications, high-resolution images of their inventory and comprehensive buyer protection policies. Many also provide educational resources to help you understand factors affecting gold prices and how to verify the authenticity of your purchases.
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.