Last Updated on November 14, 2023 by Ben
Where to Buy Gold Bars in USA
It’s always a good idea to buy gold bars when the prices are low and store them away for later. Where is the best place in America to buy gold bars? Wherever you live, there will be at least one bank or other financial institution that sells precious metals. However, if you want advice on where to buy your gold bars in the USA, talking to someone who has experience with this type of investment strategy is recommended.
At a Glance Rating:
Top 5 Gold IRA Companies Review
Augusta Precious Metals: Editor’s Choice – Great Gold IRA Company Overall (4.9/5)
Customers searching for education, transparency, and a firm that has been recognized for repeat business may generally discover the best gold and silver IRA provider in Augusta.
They are known as “guardians” of the gold IRA industry.
If you want to establish a self-directed IRA and have IRS-approved precious metals delivered to secure depositories, Augusta Precious Metals can help. It also provides cash purchases if you want home delivery.
The company offers investors educational material on its website, including market updates, short films, and a required minimum distribution (RMD) calculator. The firm also has a free webinar for people who have saved $100,000 or more.
- Lifetime customer support
- Three custodian options
- Transparent purchase information
- No online orders
- $50,000 minimum for orders
Red Rock Secured: Runner up – Best at Home Gold IRA (4.8/5)
Red Rock Secured is a trusted and dependable partner for investors focused on long-term investment success. With years of experience in the precious metals industry, their team of experts has a deep understanding of the market and can provide sound guidance to their clients.
Red Rock Secured offers a variety of investment options, including gold and silver, as well as a variety of other precious metals. They prioritize customer satisfaction and ensure clients receive personalized attention and support throughout their investment journey. When working with Red Rock Secured, investors can rest assured that they partner with a reliable and knowledgeable team that values their long-term success.
- Red Rock Secured provides clients with secure storage options for their precious metals. It ensures that your investment is protected and accessible when you need it most.
- The team at Red Rock Secured has years of expertise in the precious metals industry.
- The company offers a variety of investment options, including self-directed precious metals IRAs, which can provide tax benefits for eligible investors.
- Clients receive personalized attention and service. The company takes the time to understand your specific investment goals and works with you to create a strategy that fits your needs.
- Precious metals have historically held their value over long periods, making them a stable investment choice.
- While Red Rock Secured does offer a range of investment options, they are limited to precious metals. There may be better choices for investors who want more diverse investment portfolios.
- Investing in precious metals typically involves specific fees and expenses, such as storage and transaction fees. Red Rock Secured fees may be higher compared to other investment options.
Goldco: Great Buyback Program (4.6/5)
Goldco Precious Metals is a top-tier precious metals business. It sells precious metals directly to consumers and specializes in gold and silver IRAs.
Since its inception in 2006, the firm has assisted thousands of individuals in diversifying, developing, and safeguarding their assets with real metals like gold, silver, platinum, and palladium.
Goldco offers two distinct services: precious metal IRAs and direct purchases. They also have a sister firm that specializes in cryptocurrencies.
- It provides excellent learning materials
- Low fees
- The firm has received excellent client feedback on a variety of recognized sites.
- Customer service is accessible at all times.
- You can’t add any precious metals you have to your retirement account.
- High initial investment
- It only operates in the US
American Hartford Gold: Best Prices on Bullions (4.5/5)
American Hartford Gold is a family-owned business that has been empowering investors for over two decades.
American Hartford Gold believes in providing individuals with the opportunity to transform their dreams into reality and have attained this goal by investing heavily in both new and experienced clients who wish to maximize potential returns from precious metals investments such as gold or silver.
American Hartford Gold is a fantastic firm to explore if you’re new to investing in gold and metals because of their thorough staff and simple onboarding procedure.
The company’s leaders, all of whom have significant expertise in the precious metals sector, include a mix of executives. They have a decade’s worth of combined experience in the business. You can invest with ease of mind because of their deep understanding of the market.
- Up to 3 years of free storage
- Price match guarantee
- Expert Account Executives at your service.
- No yearly pricing is listed on their website.
- It doesn’t ship outside of the United States.
Birch Gold Group: Great Staff Overall (4.2/5)
Birch Gold Group (BG) is a boutique investment firm located in Burbank, California. It was founded in 2003 and is led by a team of former wealth managers, financial advisors, and commodity brokers, all aiming to educate the public about alternative investment options and provide customized solutions for unique situations.
Birch Gold is a precious metals dealer that provides gold, silver, platinum, and palladium in all of their physical forms. Furthermore, Birch Gold offers these metals in a variety of ounce weights. While gold takes center stage because of its popularity, other elements such as palladium may offer better returns owing to scarcity. Birch gives you complete control over your selection process, allowing you to make an outstanding variety of decisions.
- It gives investors access to precious metals.
- The availability of hard assets in IRAs.
- Birch Gold Group’s deep-rooted history delivers trust.
- Gold and other precious metals bear distinctive risks.
Why Buy Gold Bars?
In fact, gold has been a long-term store of value for longer than any currency in history. One crucial promise of money is that it serves as a stable source to meet one’s needs and wants. Gold fulfills this better than fiat currencies do because it’s an asset with everlasting worth no matter what happens worldwide or domestically.
You can physically observe real gold, which is something you can’t do with most other assets. Fire, water, or even time cannot harm genuine gold. Gold is a tangible, limited, and highly liquid asset. Gold is readily convertible to money and can accompany you on all of your adventures. Physical gold is one of the most appropriate sorts of long-term wealth preservation because it has a longer lifespan than any currency that future descendants could use.
- Gold Bars Are Easy to Store
Gold bars tend to be storage-friendly. Gold bars are small, strong, and transportable. They can be stacked vertically or laid out side by side, with or without protective wrapping. The amount of space a gold bar takes up compared to the same weight in coins varies depending on the sort of coin and how you store it.
- Gold Bars Have a Less Than Average Premium
The lowest premiums on gold bars are typically less than those on gold coins of the same weight and fineness. This is due, in part, to manufacturing expenses. Gold coins have a variety of characteristics that influence their price, including an emphasis on beauty, condition, and intricate design, all of which contribute to greater machining and labor costs than gold bars.
The price of a gold bar is essentially determined by its weight in gold. The look and condition aren’t critical. The rarity and grade of certain gold coins, such as certified currency, are also taken into account during the final price calculation, so the concentration isn’t only on the amount of gold contained within them.
- Gold Bars Are Easy to Trade
Gold bars are made entirely of gold. In most cases, there are no intricate designs or special finishes to preserve, and, as a result, a gold bar does not usually have historical significance dating back to just one society or nation. Given their global availability, gold bars may be simple to purchase and sell: they’re accessible and attractive to a wide range of customers—commercial, individual, domestic, or international.
- Gold Bars Offer Easy Diversification
Gold bars are also an excellent way to diversify your gold holdings. That’s what they’re designed for! Gold bars are one of the quickest methods to expand your precious metals portfolio due to their compactness and simplicity. When time is of the essence, purchasing gold bars may be the quickest approach to significant gold ownership.
- Gold Bars Are IRA-Approved
Gold bars can be an economical way to diversify your retirement savings when it comes to precious metals. How? Choose gold bars—like the 1 oz and 10 oz Perth Mint Gold Bars—that can help you reach retirement with your hard-earned savings intact by being incorporated into a Self Directed IRA alongside real estate, stocks, bonds, and other assets.
Gold Coins and Bars: 5 Factors To Consider Before You Buy
If you want to incorporate physical gold in your portfolio but don’t want to pay the premium connected with gold jewelry, consider 22- or 24-carat (995 and above) fine gold coins or bullion bars.
Here are some things to think about while researching gold coins and bars:
Gold bars and coins are available in 22 and 24-carat gold, which is usually packed in tamper-proof packaging. Gold coins come in many denominations, ranging from 1 gram to 50 grams, and different designs. Gold bullion bars in 100 grams and 1-kilogram increments are available if you want a higher denomination.
Non-government sources, such as jewelers and bullion traders, sell gold coins and bars.
The majority of coins are BIS-hallmarked, and before making your purchase, you should request a purity certificate from your jeweler or trader. The same due diligence is required for gold coins and bars as it is for jewelry.
The cost of gold coins is typically 2% to 10% higher than the cost of gold. The manufacturing expenses for bars are less than 0.5% of the gold price, and they drop even more for 1 kg bars.
Both gold coins and bars have the same storage cost as gold jewelry.
The taxes on your coins and bars are essentially the same as for gold jewelry. You must pay 3% GST at current rates when purchasing gold coins and bars. When you sell your coins or bars, you will not be able to recover this amount.
Gold coins and bars are easier to sell, and their markups are lower than those of jewelry because the quantity of gold used is greater. Many lenders refuse to give gold loans in the form of coins and bars. Gold bullion with a purity level of 99.99% or more is acceptable; however, minimum sizes vary by lender.
Pros and Cons of Buying Online vs. Locally
The majority of gold bars are purchased at a local coin dealer or on the internet.
Even after taking into account shipping charges, you’ll typically discover a better bargain online than at a coin store. That’s because the cost of investing in a physical location is greater. However, that is just one aspect of the distinction between them.
Here are the pros and cons of buying locally versus online. Local dealer
- Inspect the product and immediately take possession of it.
- Some dealers may be willing to negotiate on price.
- Potential for greater privacy
- Likely has few choices of things to buy
- When you sell, your premiums will almost certainly be higher and lower than when you bought.
- May have less liquidity for large buybacks.
Even if you decide to purchase online, I suggest visiting a local dealer since a positive relationship with them may be valuable if you need to make a quick sale. Inquire with them whether they’d negotiate on price if you contact them.
The pros and cons of buying online:
- You can order online and lock in a price at your convenience. You do not need to talk to a salesperson.
- Total cost is likely lower
- Greater selection
- Card and wire costs are additional.
- Product only ships after payment clear
- You must trust the dealer to deliver the correct item.
It’s a good idea to look at the same product from several dealers to get an idea of how much they charge.
Getting a small premium is wonderful, of course, but there are a few more factors to consider… See whether the dealer is educational (or simply a salesperson) and whether they have a return policy.
Can I Buy Gold Bars at a Bank?
It’s a common misconception that you can buy gold at a bank in America. Many people believe banks should issue some, but they don’t actually have any physical gold to sell. The US Mint doesn’t even provide retail customers with an option of buying directly from them unless it is for proof products only.
If you’re in Europe or Asia, contact your bank. Some banks may provide gold services to general consumers. Several individuals have used this method in Switzerland, for example.
Simply call a bank (it may or may not be well-advertised on their website for security reasons) to find out if they sell gold bars. One caution: make sure you compare premiums, so you aren’t paying too much. Also, see whether they’ll give you better rates if you’re a current customer of theirs.
- God Ira Investment Guide
- How does a physical gold Ira work
- Laws Concerning Reported Gold Purchases
- Ways to Buy Gold Coins
Buy Gold in the USA
You can buy gold bars online through US Money Reserve’s website for a number of reasons, but the price is high, and they have an extensive range from only some trustworthy mints in the world, including Perth Mint, Royal Canadian Mint, PAMP Suisse, Asahi who produce .9999 pure 24 karat gold with sizes ranging from 1 oz to kilo that is affordable too!
Purchasing gold is not as simple as buying groceries at a store. Gold comes in different forms, each with its own benefits and drawbacks that need to be considered before making the purchase. In this post, we’ve covered some of those considerations so you can make an informed decision about which type of gold will work best for your needs.
Buying gold has never been more accessible than it is today. However, there are many factors to consider before buying and selling for the best price possible. The type of metal you choose may be just as important as where or how you purchase your bullion.