How to Buy Gold Bars

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Since gold bars are one of the gold industry’s anchors, you can expect reputable websites such as the ones discussed later in this article to sell them.

When looking at buying more significant amounts of gold, gold bars are your best bet, and obtaining them online is your best option.

  • 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

GoldSilver

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GoldSilver was founded in 2005 by Mike Maloney and values, giving customers a quality precious metals education in addition to top-notch service.

There is an excellent selection of inventory options for gold bars on GoldSilver’s website that ranges from one kilo, all the way down to one gram. Other common gold bar measurements on GoldSilver include:

Excluding international orders, gold bars on GoldSilver’s website are described as ready to ship within 2-4 business days.

Below GoldSilver’s list of inventory options, there is comprehensive information regarding gold bars to educate potential investors. The following important points are emphasized regarding gold bars:

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SDBullion.com

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SD Bullion offers customers all the popular options, such as 1-ounce gold bars, 10-ounce gold bars, and 1-kilo gold bars. Authors of SD Bullion’s side note in their gold bar menu that most customers choose 1-ounce gold bars.

An essential piece of advice on the SD Bullion site regarding differences in size purchases exists. Writers on the site mention that while most people buy larger gold bars, purchasing a large quantity of smaller sizes can reduce the premium or price per ounce.

Some reputable gold mints that SD Bullion features are:

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Money Metals

Money Metals was founded in 2010 and emphasized the importance of precious metals being bought at or near their actual melt value.

Upon hovering your mouse over the gold bar menu on the main page, the following gold bar sizes are immediately available:

PAMP Suisse gold bars are additionally advertised on the Money Metals site. The acronym of PAMP stands for Produits Artistiques Metaux Precieux and stands as one of the world’s most prestigious manufacturers of gold bars, among other forms of precious metals.

The company of PAMP is Swiss and focuses on precious metal bars and was founded in 1977. If you’re looking for a healthy range of investment-grade bars, look toward PAMP through Money Metals to diversify your investment portfolio.

BGASC

BGASC stands for “buy gold and silver coins,” but also specializes in providing customers with opportunities to invest in gold bars.

With a 5-star trust pilot rating, BGASC was founded in 2016 and provides the following gold bars and more:

With a menu option that allows users to shop for gold bars by weight, BGASC makes browsing gold bars an easy process.

The following size categories for gold bars are separated for customers to browse through on BGASC:

Why Buy Gold Bars Online?

While the above list features some nice buying perks, buying gold online remains the most efficient way to purchase gold today.

While you may be able to swing by your local gold store, you’re at their mercy in terms of when the store opens and closes. Shopping for gold online allows you to browse inventory whenever you please.

Not only can you access inventory from online sellers whenever you like, but online sellers also have a more extensive selection of products to choose from.

Local sellers of gold often sell their products for higher prices than online dealers to pay for overhead costs and cover the smaller number of sales they make vs. online sellers.

Sales tax is an additional factor that will increase your final sale price. Taxes on gold can vary from state to state, so be sure to research fees within the area you’re buying from ahead of time.

Where to Check Both Overall Gold and Gold Bar Prices?

Gold bar prices are categorized mainly by weight. Many gold bars will have their weight printed on the bar. Online sites will categorize these sizes to make browsing simple.

Before you start shopping for gold bars, it’s best to check in with the current spot price of gold. The vast majority of gold-selling websites feature live tracking charts of current gold spot prices.

Gold price charts on websites such as GoldSilver are interactive and easy to read so that even the most novice investor will feel informed.

All pieces of gold sold have premiums associated with their cost. Larger gold bars tend to have smaller premiums than smaller bars. Premium charges cover:

Gold spot prices are from speculation in the markets, values of currency, world events, and other factors.

Where to Sell Gold Bars

Many websites make selling gold online just as easy as buying it. You want to find a company that offers higher buyback prices than just your local gold shop.

Keep in mind that selling back gold bars is a little more complicated than selling back other forms of gold such as coins. Gold coins are more affordable and thus have a higher market demand. If you’re having trouble finding someone to buy back your gold bars, chances are the dealer you purchased from can serve to point you in the right direction. 

Selling gold back to a local shop is counterproductive as you’ll undoubtedly get a more substantial buyback price from a larger company that has the means to supply quality buyback prices.

Make sure to shop around different buyers to compare quotes.

Some online companies that buyback gold has a minimum value that you have to meet to sell. A lot of online companies are always looking to expand their inventory, so don’t worry about just having to sell your gold to who you bought it.

Many organizations are willing to buyback gold that was originally from another company. The reason for this is that government groups that produce gold, such as the U.S. Mint, only distribute their products to a limited number of authorized dealers. If one company sells a product, chances are another company does and is willing to buyback that same product.

The process for selling gold bars usually includes these simple steps:

What are the Common Gold Bar Sizes? 

Weight is the main factor that influences the price of a gold bar. Standard weight classes of gold bars include:

People tend to buy gold bars in higher weight amounts compared to buying gold coins to get more investment value for their money.

Can you Buy Gold Bars from a Bank? 

It’s infrequent that a bank will offer the sale of gold bars. Gold coins are a more common form of gold that banks sell, and even the number of banks that sell gold coins is limited.

Most banks that sell even gold coins won’t openly advertise their sales for security reasons. Frequently you’ll have to contact the bank with an inquiry for further information on gold sales.

Since you might view a bank as a reputable dealer, it’s best to look elsewhere for someone qualified to sell gold bars. Examine customer reviews of organizations, evaluate how long the company has been in business, and check out their Better Business Bureau rating.

Where to Buy Gold Bars Locally

For those looking for an in-person gold buying experience, most cities and many towns have local shops that both buy and sell gold. If you live in a more rural area, you may have to account for travel time when planning your purchase to find a shop.

While some downsides of buying gold at local shops were previously mentioned in this article, there are some upsides.

The pros of buying gold in locally in person include:

Make sure the dealer you’re buying from is certified with the U.S. Mint. There are plenty of shady gold sellers on the market that can swindle customers for a higher profit. These more questionable gold dealers tend to sell locally at pop-up type events.

Should You Buy Gold Bars on eBay? 

While buying gold online through reputable sites that are in this article comes recommended, prospective buyers should approach sites such as eBay with some caution.

One piece of advice when using eBay is to make sure the seller uses protective third party payment systems such as PayPal or credit cards. Protecting your financial information is critical.

Similar to buying locally, look for dealers that sell products sourced directly from the U.S. Mint. The seller should be testing and verifying products purchased from secondary markets to ensure authenticity.

People are buying gold through eBay. It’s estimated that eBay moves 1-2 million dollars worth of gold from top sellers in just a day. Gold buyers on eBay often are on the hunt for daily deals.

Around 150 million non-traditional gold buyers are using eBay’s gold-selling platform. Most of the buyers sit between 40-65 years old, and many are repeat customers.

Not everyone purchasing gold on eBay is looking to invest. Collectors and people are looking to melt gold to make jewelry make up a decent chunk of eBay purchasers.

Buying from a reputable gold dealer such as APMEX is a more reliable opportunity to explore as you’re always buying from the same organization. Tons of independent sellers make up eBay’s site, which makes reviews more challenging to parse through.

Conclusion

Many people who invest in gold bars tend to stockpile higher amounts as opposed to lower denominations.

10oz Gold Bars

Gold bars are less maintenance to store in higher value quantities than other forms of gold, such as coins. You’ll get more ounces of gold for your money when purchasing gold bars.

Buyers of gold bars view their purchase as a long term investment. If you’re looking to make quick sales in times of need, gold coins are a more suitable option.

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Economic factors such as inflation can affect your investment portfolio. Investing in gold helps mitigate financial pressures as gold serves to hedge investors against inflationary periods. If you’re looking to invest in gold, try to make your investment during a time when inflation is rising.

There are several ways in which you can invest in gold. This article will serve to educate readers on the dealers that offer investors the opportunity to invest in physical gold, and more specifically gold bars.

Goldsilver

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Mike Maloney founded GoldSilver in 2005. Mike Maloney is an accredited precious metals advisor who has written bestselling books and regularly provides speeches on the subject of gold.

Goldsilver’s Mission

The mission of GoldSilver is to put increased levels of profits into research to help educate investors interested in purchasing metals such as physical gold.

Investors looking to work with goldsilver.com can expect the following from the website:

The previous list contributes to the overall goal of goldsilver.com establishing trust with clients through their emphasis on business ethics.

GoldSilver has Easy to understand charts

The people at goldsilver.com understand that not everyone is an investment expert. Through GoldSilver’s website, users can utilize interactive, easy to understand charts that are consistently updated to reflect current gold status.

GoldSilver wants you to succeed

Don’t expect to be rushed through your gold buying process. Staff at GoldSilver provide an outline on their website that advises investors to go through the following procedure:

GoldSilver fees

Shipping to the U.S. with purchases over $499 is free, with shipping to storage facilities included as well. Orders under $499 in the U.S. will consist of a $25 flat rate shipping fee that includes insurance and handling prices.

GoldSilver has a webpage that allows potential international buyers to calculate shipping costs.

GoldBroker

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GoldBroker is a privately financed company that utilizes advances in internet technology with back-to-basic forms of investment strategies that help gold investors reach their highest potential.

The combination of these two philosophies lead to the following perks for investors:

Staff members at GoldBroker are not directly connected to your physical assets as they recognize the importance of vault personnel for asset movement and storage and overall safety.

Investors who work through goldbroker.com can expect to receive the following:

Intermediation risks virtually eliminated through GoldBroker’s philosophy. Investing the old-school way through GoldBroker will give investors better peace of mind knowing that their investments won’t be touched.

GoldBroker Fees

The minimum amount for an order is $10,000. You can sell back gold that’s in storage units at a selling commission rate of 1% with a minimum of $75.

Storage fees through goldbroker.com are $125 a year if the amount stored is under $20,000.

Vault visits are $200, personal pickups are $200, and photos are supplied at $10 per unit.

APMEX

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APMEX uses a hassle-free online ordering system to supply potential gold investors with the lowest prices. The types of people who buy from APMEX include the following:

If you’re looking to trade-in some gold, APMEX is always looking for new inventory. There are over 10,000 products listed on the APMEX website.

Scott Thomas is the founder of APMEX. It’s worth noting that Apmex is the world’s largest online retailer of precious metals.

The company was founded in 1999 and with headquarters in Oklahoma City. APMEX reached its first $1 billion sales mark in 2010.

Fees

All orders $99 and above receive free domestic shipping. Orders under $99 will incur a $9.95 shipping charge. There is no minimum on domestic order purchases.

International orders require a $250 minimum through the use of credit card, bitcoin, or bitcoin cash. There is a $1500 minimum for international wire-transfer purchases.

It doesn’t cost anything to open an APMEX account. Users will be able to achieve the following by opening an account:

If you’re looking to trade-in some gold, APMEX is always looking for new inventory.

SchiffGold

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SchiffGold was founded in 2013 by Peter Schiff. The company was founded in Manhattan and resides on Madison Avenue today.

SchiffGold Investment Philosophy

Associates at SchiffGold see gold as the only honest and accountable form of money due to debased and continually fluctuating paper currency.

Owning gold through SchiffGold is seen as the ultimate insurance policy as owning gold isn’t subject to confiscation, registration, or unwarranted meddling by government authorities.

Similar to GoldSilver, SchiffGold offers live charts that track the value of gold.

Schiffgold Services

After purchasing your gold, SchiffGold agrees that the next step is to store the gold safely. To achieve safe storing of gold with SchiffGold, you can do the following:

Bitcoin is a valid form of currency at SchiffGold.

Since SchiffGold is not a brick-and-mortar gold dealer that conducts its sales via phone and mail, the company is not required to charge sales tax. This non-sales tax requirement differs from many of SchiffGold’s competitors, so look to SchiffGold for some potential savings.

Conclusion

Make sure to research buying gold bars from a variety of brokers to get the best deal up-front so you can increase the sale value. The point of purchasing gold is to help balance out your long-term investment portfolio while protecting yourself against economic turns.

All of the websites mentioned in this article have specific tabs on their website for buying gold bars that list prices for each size of gold bar offered.

Think of gold as the core of your investment portfolio.