Where to buy gold and precious metals

Today, investors can easily find a variety of precious metals dealers from whom to purchase their gold and precious metals products.

<p>Today, investors can easily find a variety of precious metals dealers from whom to purchase their gold and precious metals products.&nbsp;<br></p>

Precious Metals Guide

Where to buy gold

Today, investors can easily find a variety of precious metals dealers from whom to purchase their gold and precious metals products. 

Where to buy gold and precious metals | GOLD AVENUE

A beginner's guide to gold 

<div class="highlighted-blue-line"><p>There are plenty of places to buy gold, whether you want to buy from a bank, a physical store or an online reseller.</p>
<p><em>Each of these gold resellers has their own pros and cons that you should consider when buying precious metals.</em></p>
<p><em><em>Pricing transparency, customer service, and storage options are all factors to consider when evaluating gold dealers' websites.</em></em></p></div>

Key takeaways

<p>Most of these dealers will offer a wide range of products with varying metal purity levels, services, and storage and resale options.</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1432/a025be03-dcc4-4ab7-a499-4b13917c4a45.jfif" data-image="1432" alt="PAMP Suisse Lady Fortuna gold bars and a 1 kg PAMP Suisse fine gold bar in gold nuggets"></figure>
<p>Here you will find an essential guide to the 3 most common places to buy precious metals: </p>
<ul><li>Banks</li><li>Local physical stores</li><li>Online dealers</li></ul>
<p>Each of these gold resellers has its own advantages and disadvantages that you should take into account when buying precious metals.</p>
<p>To help you make the best choice, we will take the time to explain the following points:</p>
<ul><li>Pros and cons of buying gold in banks</li><li>Pros and cons of buying gold in physical stores</li><li>Pros and cons of buying gold from online dealers</li></ul>
<h2>Buying gold in a bank</h2>
<p>Despite the fact that selling gold and precious metals isn't their primary business, the trust you have in your bank, as well as the possibility to safely store your gold close to your home, may make your local bank a good place to buy gold or silver.</p>
<h3>Less and less banks sell gold </h3>
<p>But in fact, these days, fewer and fewer banks own real gold that can be sold over the counter. Finding a financial institution that sells gold bullion in the United States, for example, is quite uncommon, though several European banks, such as those in the United Kingdom, France, and Germany, still do it.<br></p>
<p>If you're planning to buy precious metals from your bank, make sure to check ahead of time to see if your local branch has any gold items in stock. While some banks may only sell in large quantities, others may only stock a limited number of gold items.</p>
<h3>Limited access and higher fees </h3>
<p>Another important factor to consider is that buying precious metals through a bank usually entails higher prices and fees (insurance costs, premiums, etc...). If you want to keep gold in your bank's safe deposit box, for example, you can expect to pay a few dozen or even several hundred dollars (or euros) per year in storage fees. </p>
<p>Also, keep in mind that bank hours and access to your safe deposit box are both limited. Some banks will even require you to schedule an appointment to view your gold bars.</p>
<p>Finally, insurance costs can be an issue. Banks rarely insure the contents of safe deposit boxes, so if you want to protect your assets, you'll need to purchase private insurance, which can be quite costly.</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1440/eng-1.png" data-image="1440" alt="Table showing the advantages and disadvantages of buying gold at a bank"></figure>
<h2>Buying gold in a physical store</h2>
<p>When people are unsure where to buy gold, they frequently go to their local gold shops, believing that seeing their gold items personally will make them feel safer.</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1433/heloeheloehelo.jfif" data-image="1433" alt="a cartoon man buys a gold bar in a physical store, with a cashier standing behind the counter with several piles of gold coins stacked on the side."></figure>
<h3>Products are often out of stock</h3>
<p>Before going to your local bricks-and-mortar gold shop, check with your dealer ahead of time to see if the item you want is in stock. Some stores will have to ship it from off-site storage, which could take several days, if not weeks.</p>
<h3>Some gold coins and bars are preowned </h3>
<p>While some silver and gold items in physical stores come directly from a mint or a reputable refinery, many of them are preowned. </p>
<p>So if you buy a preowned product, you might have to check its purity or do some extra research on your local gold shop to make sure you're dealing with a reputable reseller who can guarantee the quality and authenticity of their products.</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1434/halahalahal.jfif" data-image="1434" alt="several gold coins and a bar put on scale"></figure>
<h3>Gold stores can charge higher premiums</h3>
<p>Another important factor to consider is that physical stores usually charge higher premiums or additional fees. This is to account for expenses related to their actual business, such as commercial rent, on-site storage, and commercial insurance.</p>
<p>Finally, many first-time buyers make the mistake of overlooking storage and insurance options for their precious metals. While your local dealer may provide on-site storage, it is typically costly and requires additional insurance. </p>
<p>Although it may not be the best idea to keep your precious metals uninsured and unprotected at home, some customers choose to set up a private vault in their home to keep them within arm's reach.</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1441/eng-2.png" data-image="1441" alt="Table showing the advantages and disadvantages of buying gold at a local gold dealer"></figure>
<h2>Buying gold from an online dealer</h2>
<p>Buying gold and precious metals from an online dealer can be quite simple and time-saving, but there are several factors you have to keep in mind. </p>
<h3>Choose trusted online dealers </h3>
<p>Find a trusted dealer associated with reputable mints, refineries, and companies in the field (this is why, at GOLD AVENUE, we are proud to be part of the MKS PAMP GROUP, the world leader in the precious metals sector).</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1435/41a4f4e9-6045-4255-9786-4cbce0c1ebb4.png" data-image="1435" alt="The MKS PAMP Group logo" width="257" height="257" style="width: 257px; height: 257px;"></figure>
<p>There are a few other factors you should consider when evaluating gold dealers' websites:</p>
<ul><li><strong>Price transparency:</strong> do they provide a detailed price breakdown with no hidden costs? Is there a straightforward and transparent storage solution that includes free storage? Do they provide insurance for your stored goods and/or deliveries?</li><li><strong>Buyback:</strong> do they offer to buy back your unused items without charging fees?</li><li><strong>Customer service: </strong>is their customer service available directly on their website, and can you speak to an actual person or only a chatbot?</li></ul>
<h3>High storage fees and allocated gold </h3>
<p>Beware that some online gold stores offer expensive storage options that don't include insurance and may charge you extra fees if you resell your gold.</p>
<p>Some of them will also sell "shared" or "mutualized" gold, which means you will have to share your gold with other customers and will not be able to access it physically.</p>
<figure style="text-align: center;"><img src="https://assets.goldavenue.com/uploads/redactor2_assets/images/1442/eng-3.png" data-image="1442" alt="Table showing the advantages and disadvantages of buying gold woth an online gold dealer"></figure>
<h2>What is the best place to buy gold?</h2>
<p>When it comes to the question of "where to buy gold," it all boils down to your personal preferences and needs. </p>
<p>Buying from a physical store or a bank can be a good option if you want to see your belongings in person and are willing to pay more for storage and insurance.</p>
<p>If you're looking for a simple and transparent way to acquire high-quality gold and silver items at a reasonable price, a reputable online dealer may be a better option.<br></p>