How to Buy Gold

buy gold

Many websites specialize in helping potential gold buyers evaluate their options.

When looking to buy gold online, make sure the website gives detailed information about the following elements surrounding a gold purchase:

  • EXCHANGE
  • GoldSilver.com
    • Wide range of bullion, gold coins and collectibles
    • Transparent pricing
    • Ethical business philosophy
  • SD Bullion
    • Free shipping with a low order minimum
    • Good variety of semi-numismatic gold coins and collectibles
  • Money Metals
    • Also has a wide variety of silver, platinum and palladium bullion/coins
    • Also offers ability for precious metals IRA

GoldSilver

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GoldSilver is an excellent choice for gold purchasing, storage, and sales.

The U.S. shipping, handling, and insurance is free of charge through GoldSilver on orders of $499 and over!

There aren’t any minimums with GoldSilver—only a standard flat-rate shipping fee for every U.S. order, regardless of weight or dollar value.

Shipping to storage facilities in the U.S. is free for orders over $499 at GoldSilver.

International vault storage options are available through GoldSilver at the following locations:

Here is a link from GoldSilver’s website that will allow potential international buyers to gain more detailed information on their shipping process.

Through using GoldSilver, you can expect the following:

Visit GoldSilver.com

SDBullion.com

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SDBullion.com is a good option for people who are new to gold investing.

It offers a good variety of products, fair prices, and some of the lowest order minimums in the industry. With SDBullion, you can make a purchase as low as $100 without getting dinged with shipping costs or extra fees.

They do not offer secure storage at this time, so this is only an option for people who want to store gold bullion themselves.

Visit SDBullion

GoldBroker

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GoldBroker provides clients with a back-to-basics philosophy that combines advances in technology with direct ownership practices to create customer satisfaction.

There are risks to investing when ownership of assets is purely virtual. It’s Goldbroker’s mission to protect clients against potential technology failings by providing direct purchase of gold. The platform of GoldBroker is not directly connected to your assets.

When purchasing gold through GoldBroker, expect the following to occur:

Gold storage fees at GoldSilver are $125 a year if the value of the gold is less than $20,000. The emphasis of these previous points revolves around customer confidentiality and privacy.

Similar to many established gold selling websites, GoldBroker has live charts that track the current price of gold in addition to historical maps.

If at any point, you want to sell gold purchased from GoldSilver that has been at the vaults of their partner, you can expect the process to be simple and executed in 48-hours.

Sales commission rates occur at 1%, with the minimum sales commission at $75. The sell-back process occurs in the following steps.

Buying commission for GoldSilver services vary from product to product and are regressive in how many quantities clients order.

APMEX

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Part of what makes APMEX’s website so impressive is how extensive their catalog is. When browsing for gold on APMEX’s site, users will find a plethora of options that are both well detailed and organized.

APMEX makes you feel like a precious metals expert. Their gold section is separated into the following categories to make sure you’re ahead of the curve:

With all of these options, you won’t have to feel lost in the numerous gold buying options.

It’s easy to sell to APMEX. You can request a quote, call the website, finalize your price, and pack it away for shipment. Once your purchase has made it to APMEX’s facility, APMEX will verify the products. After the evaluation, expect to get paid within a business day.

The minimum buy-back to sell to APMEX is $1,000.

Citadel provides top-notch security by parting with APMEX. The private storage facility is a partner of Brink’s, one of the world’s leading security company’s.

Shipping costs to APMEX storage facilities are affordable. For orders over $500, there isn’t a shipping fee—and for orders under $500, the shipping fee is $9.95. Once your orders are shipped, they are insured to protect against theft, damage, and loss.

Regal Assets

Regal Assets stands as the #1 rated metals and crypto IRA company. Beginning with a small investment and a broad vision, Regal Assets sought to simplify the process of purchasing precious metal assets at a time when the industry was under a massive bureaucracy.

If you’re looking to add high-value metals to your investment portfolio or retirement account, look to Regal Assets. The goal at Regal Assets is to put clients first through a non-pushy approach to customer service that revolves around education.

Storage is taken seriously at Regal Assets. Customers are provided fully-insured storage at some of the lowest costs in the industry. When storing gold at Regal Assets, you can expect the following:

Storage at Regal Assets is a partner of security industry leader Brinks.

Since Regal Assets additionally focuses on amplifying investment portfolio’s, the selection of gold items is more refined. While more refined, you’ll find all the in-demand gold options that include the following:

SchiffGold

SchiffGold works to provide gold buyers with a dealer they can trust. Staff at Schifgold work to make the process of buying gold as easy as understanding the value of purchasing gold.

Customers who are looking to purchase precious metals through SchiffGold can expect the following:

Selling gold to SchiffGold is a straightforward process that can be done in the following steps:

The live-pricing charts of gold on SchiffGold’s website are interactive and easy to understand.

Expect to be linked with some of the finest professional storage services at SchiffGold. With storage locations all over the world, you won’t be locked into a long-term commitment. Your vault will be protected 24/7 by vault guards and additional security features.

Bitcoin is recognized as a valid form of payment when purchasing gold and silver on SchiffGold.

If you’re looking to diversify your bullion collection, SchiffGold offers a page on their website dedicated to advertising limited edition gold bullion. These products are limited by the governments that distribute them.

Schiffgold confidently recommends coins such as the Canadian Gold Wolf to more serious investors.

You won’t have to decide between low prices and quality service when working through SchiffGold. The purity and authenticity of every product are guaranteed. Prices are competitive, and sales members provide help with a low-pressure approach.

Info on Buying Gold

Here are the most common ways that people purchase and invest in gold:

Purchasing gold bullion is a far less risky endeavor than investing in mining stocks. The two most accessible gold coins to buy are the American Eagle gold coin and the Canadian Maple Leaf gold coin.

Gold mining stocks are not tangible assets and carry higher risk due to the possibility of literally and figuratively striking gold.

Selling gold coins is just as easy as buying them due to the demand. Potential buyers of gold bullion will have to access the following factors regarding their purchase:

Why Buy Gold Online

You will most likely have to pay extra shipping fees if you’re an international buyer. Storing your gold after you’ve purchased it online is one of the essential parts of buying gold.

A lot of quality gold selling websites emphasize their style of customer storage. Gold buying websites frequently put the purchases in the buyer’s name and ship them to a private storage vault.

One benefit of buying gold online is convenience. Once gold is under a buyer’s name in a personal vault, investors can easily add to there gold assets with just a few clicks.

Where to Buy Gold Locally

It’s important to note that chances are, you’re going to receive higher prices when buying gold at smaller, local coin shops. Smaller coin shops have both limited sales and inventory levels, which make them charge higher premiums.

Watch out for local dealers that have prices that seem too good to be true. Some gold scammers will present more than fair prices while stalling orders and providing non-existent customer service.

When seeking a place to buy gold locally, look for the following:

While some people prefer buying gold at a local shop, purchasing gold online is the safest and most convenient way to acquire gold.

Let’s access the pros and cons of buying gold locally, in-person:

Buying Gold Locally - Pros

Buying Gold Locally - Cons

Can You Buy Gold From a Bank?

Buying gold coins from a bank is recommended. Many banks in the U.S. sell gold coins, although many won’t publish that information on their website to minimize security risks.

Visit the U.S. Mint website and utilize their authorized dealer directory to get information on what banks near you sell gold coins.

An additional method of acquiring information on a bank selling gold coins is to call the bank. While the bank may not advertise the information on their website, they’ll be happy to give information to potential buyers.

How to Buy Gold From a Bank

Purchasing gold coins from a bank comes highly recommended since the risk of the buyer being ripped off is drastically lower due to heavy regulation and straightforward dealings with the U.S. Mint.

Buying Physical Gold vs. a Gold Storage Company

Websites such as BullionVault offer allows users to invest privately in gold while accessing professional bullion markets. When looking for lower costs in buying, selling, or storing gold, look no further than BullionVault!

BullionVault sits as the world’s largest online investment gold service and is co-owned by GBIT and Augmentum Capital.

BullionVault Storage

Storage is a priority at BullionVault. Physical gold exists through BullionVault in professional vaults located in New York, London, Toronto, Zurich, or Singapore. Since BullionVault is a large company, they’re able to negotiate lower storage prices that always include insurance.

Sometimes selling gold comes at a penalty, but not with BullionVault. Users of BullionVault can sell at any time with no penalties and will receive their money through wire transfer the following day.

Do you know what you want and are looking to cut to the chase? No problem! You can purchase gold through BullionVault in about two hours.

Let’s wrap up our evaluation of BullionVault by pointing out the reasons you should buy and store with them:

Where to Sell Gold After You Buy It

Similar to buying gold, it’s essential to shop around for the right person to sell your gold. If you purchase gold from a reputable website such as one of the sites we explore below, there is a fair chance they have an established seller program.

Before you start shopping your gold around online, have your gold’s price estimated by individuals such as local jewelers. Go to three or four stores for estimates.

Rogue Buyers

Watch out for ‘rogue’ buyers. Rogue buyers are individuals who go from town to town with pop up shops that tend to undercut the value of gold owner’s assets so the rogue buyer can turn a profit.

If the person buying gold from you doesn’t ask to see your I.D. or doesn’t have a state-issued license to purchase gold, it’s best to take your gold elsewhere.

One strategy rogue buyers can use to undercut sellers is weighing the gold with a system called pennyweight. A pennyweight equals 1.555 grams so that a pennyweight would give the seller less money instead of standard gram measurement.

You’ll have a better chance of getting the best value for selling your gold if you go through an accredited gold buying and selling a website, such as one of the sites listed below. Many online sellers are continually looking to expand their inventory.

Online sites such as eBay, Craigslist, and other online websites have platforms geared explicitly toward the gold trade.

Conclusion

While buying gold in person has it’s pros, purchasing gold online is the best choice to make. Increased accessibility, lower prices, and more inventory options should be enough reasoning to make your next gold purchase online.

Don’t worry about the security of buying online. Reputable brokers such as the websites mentioned above insure packages and are partnered with top-notch security facilities.

Best Places to Buy Physical Gold Online

Gold has been used as a store of wealth for as long as mankind has had any wealth to store. It’s one of the few investment classes that you can actually hold in your hand – and it can act as a valuable diversification tool in a balanced portfolio. There are many ways to purchase gold, but the most popular is to own physical gold bullion and coins. If you’re wondering where to buy physical gold online, keep reading for our top recommendations.

GoldSilver

GoldSilver.com is a popular and trustworthy online gold broker. They offer a great selection of investment-grade gold bullion and coins, all at competitive premiums. They buy and sell, so you can also sell your investments to GoldSilver.com should you choose to do so.

We like this vendor because they offer a good selection, and more importantly, their buy/sell margins are very competitive. Their low premiums over spot make this one of the best places to buy physical gold online. Shipping is free on orders over $499 – and should you choose to, GoldSilver will also store your gold in secure vaults for extremely competitive rates (starting at just 0.06% of asset value per year).

SDBullion.com

SD Bullion is another great place to buy physical gold. We often recommend it to new investors, as SD Bullion offers a very low order minimum – purchases over $99 qualify for free shipping. Since most competitors charge shipping for small orders, SD Bullion is a great option for beginners and for those buying small amounts of gold frequently.

As the name suggests, this company primarily buys and sells bullion – gold, silver, platinum, palladium, and more. However, they also carry some collectible numismatic coins, as well as “semi-numismatic” gold/silver coins that offer a combination of intrinsic and collector value. Purchasing through SD Bullion is one of the best ways to buy physical gold online, particularly for those with smaller budgets.

BGASC

BGASC.com is a large scale online bullion dealer. They have built a reputation for fair prices, no order minimums, and ultra-fast shipping in secure, insured packages. While they have no order minimum, their order size to qualify for free shipping is higher than average at $5,000.

For investors thinking about retirement savings, BGASC also offers a good way to invest in precious metals in a tax-advantaged account. They offer a precious metal IRA program, and sell a wide variety of IRA-compatible gold coins. The process is simple, and pricing is very competitive.

Money Metals

Money Metals, also known as Money Metals Exchange, is an online precious and base metals dealer. They sell everything from gold coins to copper bars, offering investors a huge range of interesting assets to choose from. Their premiums over spot value are competitive, and they have a reputation for excellent customer service.

Money Metals is a great option for beginners, for a number of reasons. For one, they offer several free resources for investors, including buyer’s guides, and ample information on the pros and cons of precious metal investment. They even offer starter portfolios, which include a variety of bullion and coins at a set price – perfect to start off your precious metals stack!

GoldBroker

Option to store your gold in secure vaults, or take possession Instantly buy and sell physical bullion Clients can visit vaults in-person to view or withdraw stored bullion Storage fees can add up, however – typically 0.95 to 1.5% per year

GoldBroker.com is a popular option for those who want to own physical bullion, without worrying about shipping it or storing it safely. When you purchase from GoldBroker, your gold is stored in secure vaults located in financial centers around the world. At any time, it can be sold or withdrawn and shipped to you. This is a good option for hands-off ownership of physical gold, but keep in mind that storage fees can eat into your profits over time.

Physical vs “Paper” Gold

There are two basic ways to own gold: physical coins and bullion that you can hold in your hand, and shares of investment vehicles such as gold ETFs and mutual funds. Both perform similarly in normal markets, yet there are some stark differences.

Benefits of Physical Gold

On the other hand, the downsides of physical gold include the hassle of storing it securely, the premium over spot price that is typically paid, and the risk of receiving fake coins (which can be eliminated by shopping with a trusted online vendor).

Benefits of “Paper” Gold/Gold Investment Funds

While investing in gold funds may seem like a simpler option, there are some important downsides to consider. A big one is the ongoing fees associated with these funds, which can really eat into your performance over time. And equally important is the fact that you don’t truly own any gold when you purchase these funds. In a worst-case-scenario, “paper” gold may not do you much good.

Other Options for Buying Physical Gold

The online vendors listed above are our top recommendations. However, there are other methods to buy physical gold, including:

Local Coins Shops/Bullion Dealers – Local coin shops in your area may offer a decent way to purchase physical gold. However, this varies greatly by region, and the quality of coin shops in your area. Premiums over spot price may not be as competitive as online dealers, and the potential for fakes/counterfeit coins may be higher. If you choose to buy from a local coin dealer, make sure to do your research beforehand to identify the best option in your area.

Other Collectors & Investors – If you know other people who collect or invest in gold, you can make direct purchases from them. There are also online forums and other resources you can use to work with other collectors. While you can sometimes score better deals this way, the potential for fakes, scams and even robberies is far higher – so in general we do not recommend this method for buying physical gold.

Through a Retirement Account – Most gold investors are aware of the potential to invest in gold ETFs and mutual funds through their retirement accounts. However, few are aware that some retirement accounts (particularly self-directed IRAs) allow for the purchase of physical gold bullion. Rules are complex and highly dependent on the administrator of your plan, so if you go this route you will have to do your own research.

Through a Broker with Secured Storage – Another unique way to buy physical gold but not actually take possession of it is to purchase through a gold broker that offers secure off-site storage. Popular options include BullionVault.com and GoldSilver.com. With these companies, you do technically own physical gold, but the broker will store it for you until you decide to take possession. This method is not for everyone, but presents an interesting option to consider for hands-off investors.

In the end, the most important thing to remember when it comes to buying physical gold coins is that you need to work with a company you can trust. Be cautious of newer vendors who lack a reputation, and keep an eye out for any red flags. If in doubt, stick to very reputable vendors like those listed on this guide.

Coins vs Rounds

The difference between coins and rounds is simple. Coins are legal tender, and they are produced by government mints, such as the US Mint and the Royal Canadian mint. Rounds are round, like coins, but they are manufactured by private mints, and they are not legal tender. Coins have a face value, such as $1 on the American Eagle and $5 on the Canadian Maple Leaf. Obviously, the face value has no connection to reality. Rounds do not have a face value.

Coins and rounds are usually produced in 1-ounce sizes, though you can also buy them in other weights, such as fractional or one-ounce multiples. Government mints around the world produce the coins and back their purity and weight. The year in which the coin was minted is stamped on the coin, as well as the coin’s purity. The purity ranges from .999 to .9999.

Most coins maintain the same designs for decades, except for Silver Chinese Pandas, which I believe get a new design annually on one side, the panda side. Rounds come in all kinds of designs, everything from cartoon characters to holiday themes. I’ve even seen silver rounds with pictures of Bigfoot on them.

Compare Silver Prices

Silver is a popular form of bullion that you can buy as coins, rounds and bars. Silver is more popular than gold because it has a lower cost of entry. If investing in silver interests you, I made two tables you can use to find the best silver prices:

Although I collect coins and bars, if you want to get the most silver for your money, I recommend silver bars. Silver bars are almost always cheaper than coins of the same weight. For example, at the time I’m writing this, a 1oz Silver American Eagle costs $17.80, whereas a 1 oz silver bar costs $17.14. That’s not a huge difference, but you save big when you buy larger volumes. Compare, for example, a 500 oz Silver American Eagle Monster Box for $9,120 versus 500 ounces in bar format for $8,040.

Compare Gold Prices

Gold is also a popular form of bullion that you can buy as coins, rounds and bars. Gold is slightly less popular than silver simply because gold costs more. The smallest unit of gold you can buy is 1 gram, which although affordable, costs more than the smallest unit of silver. In recent years, however, manufacturers have produced new fractional products that make gold more accessible and easy to use as money. Karatbar, for example, makes 1 gram bars encased in credit-card sized cases. I really like Karatbars because they conceptually portray gold as money, and idea which is no longer taught in school. Valcambi has a similar product called the “CombiBar.” Valcambi’s CombiBars are gold bullion bars that are stamped out in small pieces that you can break off, similar to a chocolate candy bar. In this way, you can make change when transacting in gold.

If investing in gold interests you, I made two tables you can use to find the best prices:

Similar to silver, if you want to get the most gold for your money, I recommend gold bars, rather coins. Bars and rounds are almost always cheaper than coins of the same weight. In fact, I don’t even own any gold coins because of this fact. I would like to add them to my stack in the future, but currently, it’s not in the budget.