How To Buy Gold

China iTech Ghana
Friday, October 1, 2021 | views Last Updated 2021-10-01T19:39:51Z

If you’re looking to buy gold, you don’t have to convert your walk-in closet into a tiny Fort Knox. In fact, the only storage you may need is an investment account.

How to Buy Physical Gold

Gold Bars

Gold bars—more commonly known as bullion—are a popular choice for people looking to buy gold. Bullion is typically sold by gram or ounce, and the purity, manufacturer and weight should be stamped on the face of the bar.

Purity is very important when buying gold: Investment-quality gold bars must be at least 99.5% pure gold. This is especially critical if you’re hoping to store bars in a gold IRA; less pure gold, unless it’s a specifically pre-approved gold coin, cannot be held in an IRA.

You can buy gold bars from dealers, individuals or online from sites like JMBullion, the American Precious Metals Exchange (APMEX) or SD Bullion. And keep in mind that you may be on the hook for delivery fees—plus insurance—to assure the safe transport of your bullion.

Gold Coins

Gold coins, like the American Gold Eagle or Canadian Maple Leaf, are popular collector items. This collector aspect means you’ll pay a premium over what you would for the same amount of gold held in bar form. In addition, coins typically have lower gold content than gold bars. A one-ounce American Eagle coin, for instance, is only 91.67% gold; the rest is silver and copper. (American Eagle coins can, however, still be held in gold IRAs.)

You can buy gold coins through dealers, pawnshops and individual sellers that you trust. If you choose to buy your gold coins online, make sure to go through a dealer listed in the U.S. Mint’s database. Whether you buy your gold coins in-person or online, you don’t want to waste money on forgeries or gold that’s less pure than you’re led to believe.


Jewelry, especially antique pieces that likely have a higher gold content, can provide another avenue for purchasing gold. But keep in mind that like gold coins, you’ll probably be paying extra for the amount of gold you’re actually getting. (It may be anywhere from 20% to 300%, depending on the manufacturer.)

In addition, keep in mind that not all that glitters is gold. Manufacturers use alloying to combine gold with other metals to make their pieces more durable or adjust their color. Here’s how gold quality (measured in karats) correlates with purity.

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  • How To Buy Gold

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