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People looking to generate more money have come across many investing opportunities, and we’re confident that gold bars were a part of them. Buying gold bars for investment is a profitable idea to enrich a portfolio and own physical pure gold that will hedge against inflation.
Having tangible gold bars always sounds more secure and attractive. Finding it, though, is a challenge. Whether you want to buy gold bars in person or online, knowing what to check for is rather helpful, especially if you’re new to investment.
This article will answer your questions about where and how you can purchase a gold bar with ease.
Table of Contents
Key Takeaways
- You can purchase gold bars in person paying with cash or a wire transfer, and online with any available payment option.
- You can store physical gold bars at home with an option insurance purchased or with a custodian who will take professional care of them.
- You should purchase gold bars with at least 99.5% pure gold.
- It’s better to buy multiple smaller gold bars to sell faster than one bigger gold brick.
How to Buy a Brick of Gold
“How to buy a gold brick?” – is a question you must have asked yourself, but the internet had too many vague answers. Don’t worry, let us clarify that for you.
Your first and foremost step is to find a trusted and licensed retailer. Go to our in-depth comparison of the best and most trusted companies, or get in touch with us, and we will help you find the right company.
Once you choose which company you would like to purchase gold bars from, you should also decide on whether you want to store your gold bar at home or keep it in a secure deposit box. In either scenario, you may expect to cover the costs of insurance and delivery, along with other associated fees.
How to Buy a Gold Bar in Person
You can buy a gold bar in person as if you were to enter a shop and shop for groceries. Careful examination of price tags and conditions is what shopping for food and gold bricks have in common.
Purchasing gold in person is a traditional way to go, but we understand that inspecting a physical gold bar is what you should aim for. Paying in cash is another factor that some investors find advantageous. On the downside, local vendors may have higher prices and limited options.
How to Buy a Gold Brick Online
Purchasing gold online is usually a more convenient option for investors as searching and paying are done remotely. Online retailers also have a bigger list of products, sometimes with prices already listed. Among flaws, there is one downside to investing in gold bars online, and that is finding a credible and licensed retailer with authentic gold.
If you decide to invest online alone, make sure to look for reviews from verified buyers and check for licenses proving the authenticity of gold.
If you live in Las Vegas or plan on traveling to Dubai, you can find gold-to-go ATMs there, but those charge a lot more than retailers.
Where Can You Buy Gold Bars?
At Gold IRA Blueprint, we offer our clients a few trustworthy and licensed retailers who specialize in selling and storing precious metals, including gold. One of the best options in the industry is Augusta Precious Metals.
With an A+ rating from the Better Business Bureau, APM is backed and credited by the United States government and has been operating for over a decade. The company offers a Gold IRA, where you can purchase coins, bars, and rounds.
Other alternatives we often offer include Fidelity Investments, TD Ameritrade, USAA, and others. Even prominent gold retailers may make mistakes, so it’s important for you to look for reviews and check for scams before investing.
Can You Buy a Gold Bar with Insurance?
If you plan on storing gold bars at home, then we would recommend you take out insurance. Even if you consider your home safe deposit box a secure place, you should take into consideration natural disasters or theft that may take place. If you are unable to recover gold bars and have no insurance, you will lose your entire investment. Insurance, on the other hand, creates a safety net for such scenarios.
Where Can You Store Gold Bars?
You can store your gold bars at home in your safety deposit box or with a custodian. The third option that is not a popular choice is to have a third party take care of storing your investment.
Storing at Home
When sorting gold bars at home, you should know how to maintain your assets. To keep your gold bars in the same condition, you should have a quality storage container, preferably one with a lid. This way, you will protect your assets from dust and moisture.
You should also keep gold in a dry, cool place so that there is nothing that can potentially damage the precious metal.
Storing with a Professional Gold Storage Service Provider
Storing your gold bars with a professional service provider will surely give you peace of mind, knowing that no one can access your assets. You are likely to pay a fee for storage at a company, but on the other hand, you would likely consider insurance to store gold at home, too.
Another pivotal factor is that investors know the ins and outs of their assets, but they may not be aware of how to properly care for them. This is when professional storage service providers step in, making sure your gold bars aren’t damaged or scratched.
Can You Buy Gold Bars with 100% Pure Gold?
You should invest in pure gold bars that are at least 99.5% gold. The remaining 0.5% is usually metals that make smelting possible and usually include silver, copper, or alloy.
The gold bar you are interested in should have specific information stamped on it, such as the name of the manufacturer, the purity of the gold, and weight.
How Much Gold to Buy to Sell It Quickly?
Gold is a liquid asset, meaning it’s possible to buy it and sell it shortly after. The key to selling it quickly lies in the size of gold. Let’s say you purchase one 15-ounce gold brick, you will struggle to sell it at once. A better way is to purchase smaller gold bars and sell them whenever the price increases.
Purchasing multiple smaller gold bars will help you earn money on them faster, and you may even end up with some bars stored away to profit from later.
The same goes for gold jewelry, which is usually more expensive because of the work put into it. Although it’s not a number one choice for investors, if you have some and plan to generate money for retirement, jewelry is an additional investment to benefit from.
Final Word
Gold is a liquid asset that can protect you from inflation, while your other assets may decrease in price. Gold investment comes with its own advantages as being easy to sell, but also disadvantage in the form of an extra expense for storing and insuring it.
Wrapping up, here is a 5-step instruction on how you can buy gold bars:
- Find a reputable, licensed, and trustworthy dealer.
- Get an accurate value of the gold’s value and purity.
- Purchase the precious metal.
- Have it delivered to your home or stored using a professional storage service provider.
- Track how the price fluctuates and sell it when it’s most profitable.
Ready to discover what gold investment goals you can achieve? Go to Gold IRA Blueprint, and we will help you uncover the hidden potential of investing.
Frequently Asked Questions
Where can I buy a gold bar?
One of the credible companies out there selling gold is Augusta Precious Metals. They have a wide range of services and a great reputation in the industry. Apart from investing in gold, Augusta Precious Metals is one of the few retailers out there allowing you to roll over your 401(K) into a gold IRA.
How can I buy gold bars?
You can either buy gold in person or online. In person, you have the possibility of paying in cash and examining the condition of the gold. In some cases, you may save up on delivery.
When purchasing online, you should search for a reputable retailer that has a good reputation and credibility. Investing online is a convenient way to go because sometimes you don’t have to have your gold delivered if the company offers storage service. Although it adds to the final cost, you will have peace of mind that your assets are in a secure place.
Is investing in gold better than stocks?
Many investors try to keep their money in different assets. Having a wide portfolio allows them to benefit whenever the price fluctuates. For example, when stock prices decrease and gold value increases, investors can benefit from selling gold bars.
Another factor to keep in mind is that gold investment doesn’t bring passive income, so you always have to monitor and keep track of prices to know when the right time to sell is.
Article Sources
At Gold IRA Blueprint, we dive deep into the world of gold IRAs, using trusted sources to back up our insights. Our sources range from official documents to expert interviews, ensuring our content is both accurate and reliable. We also draw on research from reputable publishers to give you the most comprehensive understanding possible. Check out our editorial policy to see how we maintain our high standards for accuracy and fairness. Also make sure to check out our Financial Review Process to have a better understanding of our process.
7 Best Gold IRA Companies: Most Trusted & Best Service (2022). Gold IRA Blueprint. Accessed 21 September 2023.
Gold Ira Scams in 2023: Protect Your Investments. Gold IRA Blueprint. Accessed 21 September 2023.
Best Storage For Gold: Everything You Need To Know. Gold IRA Blueprint. Accessed 21 September 2023.
Purchasing Gold And Silver: Your Entire Guide. Gold IRA Blueprint. Accessed 21 September 2023.
Is Gold a Liquid Asset? Finally Answered . Gold IRA Blueprint. Accessed 21 September 2023.
