APMEX is a leading online retailer of precious metals, offering a wide selection of gold, silver, platinum, and palladium products with secure storage and IRA options. It may help if you have a membership at the bank you want to purchase coins from. Like with most bank services, some banks will only sell gold and silver to customers who already have an account with them. JM Bullion is a leading online retailer that offers a wide variety of gold, silver, platinum, and palladium bullion, coins, and bars, with competitive prices and secure shipping. The easiest way to find out if a bank is willing to sell gold or silver coins is to visit its website. Remember, though, that it’s pretty rare for banks to sell genuine gold or silver coins in 2024.

How to Buy Gold for the Best Price

In addition, it will also include a small commission for the gold dealer. Whilst this is to be expected, you should also keep an eye out for additional, unexpected costs. For instance, you may be faced with additional shipping costs, insurance fees, credit card or bank wire charges. But buying gold coins from the bank could still be how is materiality determined an option for you, depending on where you are based. For instance, some banks in Switzerland still offer trading services to their clients. Moro is a precious metals dealer that offers a wide range of gold, silver, platinum, and palladium products, with a focus on customer service and competitive pricing.

Just following the year 2000, there has been a substantial increase in gold prices as well as in the amount of individual investors buying and directly owning gold bullion bars and gold coins. However, if you’re wondering how to buy gold coins for investment, it might not be the best option. Whilst some of the larger coin shows may have some bullion coin dealers, you probably won’t have the same range of options as you would if you opted for an online coin dealer, for instance. Best Bullion is an online marketplace that offers a variety of gold and silver bullion products at competitive prices, with a focus on customer satisfaction and secure transactions.

For banks that sell gold and silver, their stock often comes from coins that investors have turned in as currency. Silver Dollar Coins and Gold Dollar Coins are two common coin types you’ll find at banks that sell coins. Most banks sell their gold and silver coins at higher premiums over spot price than you’ll find on the average online dealer’s website. Few banks today sell gold and silver coins, but this hasn’t always been the case. In the 19th century, America’s central banks agreed to exchange currency for pure gold bullion in order to boost the strength of the United States Dollar. Because the USD is far more stable now than it was in the 1800s, banks seldom sell volatile precious metals like gold and silver.

By industry definition, gold coins are struck by government mints and usually have a legal tender face value from the nation or union from which they are made. In contrast gold bars are both struck by private mints and government mints. Therefore, we suggest only working with online dealers that are well-established within the gold bullion world. Chances are a successful and reliable dealer will remain open for business for years to come. Thus, they will be available to buy back your bullion when the time is right. While their stocks’ prices may not entirely match the trajectory of physical gold’s price, they will likely be correlated.

You can research each coin in more detail, or use our helpful guides to learn more about investing in gold. You can even keep track of the current spot price of gold with the live feed at the top of our site. On the other hand, there are some potential drawbacks when sourcing your bullion from a local coin dealer. Many local coin dealers may solely deal with numismatic or collectable coins, which are not the same as investment-grade bullion coins. If gold bullion coins are available, you may be limited in terms of choice. In addition, many local coin dealers charge higher premiums than other coin dealers, meaning that you may have to pay more for your coins.

Most banks don’t deal in precious metals, but some banks may be happy to sell gold and silver coins that they’ve received from customers. Some banks might even stock their own gold or silver coins they’ve purchased from the United States Mint, but this is rare. Finding trusted local or online gold bullion dealers who promptly deliver quality gold bullion coins and gold bars at fair and reasonable prices can be difficult. We have been working in the gold bullion industry for over 40 years and seen many online gold dealers come and go. High prices, limited availability, and small inventories make banks a poor choice for investors who want to save on gold or silver coins. In other words, you can buy gold and silver from some U.S. banks, but that doesn’t mean that you should.

Are You Ready to Invest?

Additionally, your dealer should provide you with reliable information or guides should you wish to learn more about investment-grade gold before getting started. In addition, you can set up your trading account online, so the process of buying online offers the utmost discretion and privacy. A one-ounce American Eagle coin, for instance, is only 91.67% gold. In fact, the coin weighs 1.1 ounces, approximately one ounce of which is pure gold; the rest of the weight is silver and copper. If you’re ready to buy gold with crypto, visit one of these trusted gold retailers that accept Bitcoin and crypto. Not necessarily — some brokers put special restrictions on futures trading, such as minimum balances or tests for investors.

1. Each purchasing avenue boasts distinct advantages and drawbacks, catering to diverse investor preferences and risk profiles.
2. With gold futures, you commit to buy or sell gold in the future at a specified price.
3. Sellers can inflate their product’s value, or use persuasion tactics to create a sense of urgency to buy immediately.
4. This premium typically consists of a dealer’s fee and manufacturing and distribution charges.
5. If you choose to buy your gold coins online, make sure to go through a dealer listed in the U.S.
6. Gold and silver have been passed down as stores of value from one generation to the next for millennia.

When buying gold coins from a bank, we also recommend checking the premiums before you complete a transaction. Some banks may have higher premiums than other banks or other coin dealers. You may also want to inquire about discounted or lower premiums for existing customers.

To find a bank that is willing to sell you gold and silver coins, you’ll need to do a bit of research. Some banks advertise that they sell gold and silver on their websites. Most banks don’t make this information public, so you may need to visit a bank’s physical location to find out if they have gold or silver coins for sale. Treasure Island Coins is a precious metals dealer that offers a wide selection of gold, silver, platinum, and palladium coins and bullion, with competitive prices and personalized service.

You Can Buy Gold and Silver Coins From the Bank – But Should You?

And similar to crypto, it has an extremely liquid market in which gold can be exchanged for fiat. The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Remember, the “best” price is subjective and depends on your specific circumstances, goals, and risk tolerance. Always conduct thorough research and consider seeking advice from financial experts before making significant investments in precious metals.

The Pros and Cons of Investing in Gold and Silver

Although you can buy gold or silver coins from the bank, we don’t recommend it. Most banks charge high premiums over spot price for precious metals in order to hedge their bets against the historical volatility of both gold and silver. As an alternative, most investors choose to buy gold and silver coins from online precious metal dealers. Online bullion dealers tend to offer a larger selection, more competitive prices, and better customer service than banks that happen to sell gold. Surprisingly enough, it is sometimes possible to buy gold and silver coins from your local bank.

Gold bullion coins offer a unique and steadfast way of diversifying your investment portfolio. As we know, gold coins have been in circulation for millennia, proving that they’re not only synonymous with wealth and luxury, but they also truly stand the test of time. They offer an excellent way to safeguard your assets because of this long-term strength of value. There couldn’t be a better time to invest so here, we’re going to show you how to buy gold coins. Global Vault Group is a secure storage solution provider that offers safety deposit boxes and vault storage for gold, silver, and other precious metals, with locations worldwide.

If you have any questions or concerns, we are more than happy to help. By working with our bullion experts, we can help you choose the right coins for your needs and budget. We can even help you build an investment strategy that works for you.