Buy with care.
This means buying from a reputable bullion dealer and not from an online auction site or a jewelry store in the local mall.
First, a gentle reminder of WHAT to buy.
When buying bullion, you have a choice between buying gold bars or gold coins. For ease of storage and selling, it is hard to beat gold coins.
Buy bullion coins such as the American Gold Eagle, Canadian Maple Leaf, South African Krugerrand, Chinese Panda and Australia’s bullion coins.
Above all, avoid stores or websites that make “special offers”. If you look at the right side of this page you’ll see the current price, in US dollars, of one ounce of gold. When you buy a one-ounce coin, the price you are being asked to pay should be within 2% – 5% of the spot price.
Here are a few reputable online dealers you can check out.
Hard Assets Alliance
Toll-free 877-727-7387
Internationally: 602-626-3022
www.hardassetsalliance.com
Dillon Gage, Inc.
15301 Dallas Parkway, Suite 200
Addison, TX 75001
1-800-375-4653
www.dillongage.com
Rare Coins Of New Hampshire
28 Jones Road, Third Floor
P.O. Box 720
Milford, NH, 03055
1-800-225-7264
www.rare-coins.com
FideliTrade
3601 N. Market Street
Wilmington, DE 19802
1-800-223-1080
www.fidelitrade.com
You can also explore the mints of the various countries that issue bullion gold coins.
Learn more about the United States Mint.
For Canada, learn more about the Royal Canadian Mint.
For Australia, start with the Perth Mint.
For the UK, learn more about the Royal Mint.
For Mexico, learn about El Casa de Moneda de Mexico.
Do your own due diligence and make sure you are getting what you expect. Remember, the price of a one-ounce coin of pure gold should be about the same, wherever you buy it.
If the price quoted is much lower, you are probably being sold a replica and not the real thing. If the price quoted is higher, then it’s time to check out a different dealer.
Further reading…
The spot gold price refers to the price of gold for immediate delivery. In other words, if you walk into a bullion dealer off the street and take out your wallet, the spot gold price is close to what you’ll pay for a gold coin or bar. (Plus the premium the dealer is going to charge you.)
Gold is a global asset, with a common value anywhere in the world.
When you are buying gold to own it, the spot price is the price to watch for. Another gold chart you might see is titled “gold futures”. The futures price will concern you if you are buying gold shares, but not if you are buying physical gold coins or bars.
For coins and bars you are interested in the price right now, and that is the spot gold price.
Further reading on gold…
Why the price of gold might rise in the years ahead
Gold-backed crypto tokens… Are they a better way to own gold?
Articles on buying gold coins and gold bars…