Where to buy gold bars and coins (2024)

As an investment, gold is considered a safe-haven asset, which means it can act as a store of value for investors during tough economic times and inflationary periods. That's one reason why so many investors allocate at least a small portion of their portfolios to the precious metal.

But gold acting as a safe haven isn't the only reason to invest in it. It also offers a number of advantagesto investors — regardless of the state of the economy. And, between gold bars and coins, gold IRAs and gold exchange-traded funds (ETFs) and stocks, there are a range of options for investing in the precious metal. But one of the better options for many people is buying tangible physical gold, also known as gold bullion.

Gold bars and coins aren't just tangible items, though. Historically, the value of these gold assets has also grown in value over time. And, gold coins and bars are highly liquid, allowing investors to easily buy or sell their gold bullion when they need to. Plus, there are lots of options for where tobuy physical gold. Here's where you can do that.

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.