Buying Gold from a Bank: Things You Should Know

Purchasing gold to increase the diversity of one’s portfolio is arguably not as common as it has been in previous years. Central banks such as the Federal Reserve still own a fair amount of gold, but those reserves hardly ever decrease as a result of sales. In fact, most physical banks often have an extremely limited selection when it comes to purchasing gold. Conversely, online retailers such as Nationwide Coin & Bullion hold several precious metal assets in reserve, especially for clients wishing to increase their gold holdings.

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How to Find a Bank that Sells Gold

The majority of physical bank locations do not carry precious metals on hand. With less of a demand for this type of asset coupled with fluctuating pricing, it’s not a commonly sought-after good. Instead, be sure to contact your local branch first to ensure the asset is there for purchasing. You may need to schedule an appointment at a later date to make the actual purchase.

Alternative Places to Buy Physical Gold

While pawn shops and local jewelers potentially may offer gold for sale, these vendors exceed the gold spot price by as much as 100 – 200%. Online retailers, on the other hand, tend to offer some of the widest selections to choose from and at the best prices. In addition, these online gold retailers such as Nationwide Coin & Bullion employ knowledgeable staff capable of offering expert advice as a valuable resource. 

Benefits of Buying Precious Metals Online

Security often ranks highest when it comes to precious metals. Online retailers of these precious metals offer insured shipping directly to a secure location of your choosing. Shopping online allows you to compare prices and take advantage of price fluctuations as well. Depending on which retailer you choose to purchase from, you may even be able to reach out if you have questions or concerns about the process. In addition, the benefits of online shopping from the comfort of your home and in your own time apply here as well. 

Best Gold Products to Own

While gold bullion comes to mind first in terms of gold holdings, there are many other types of gold products available. These include gold coins, bars, and jewelry. If you choose to invest in gold, you can diversify your assets with one or more of these gold products. 


Most modern coins exchanged today contain silver. Historically, however, gold coins were some of the first to enter circulation. Now part of larger collections, these gold coins have as rich a history as they do market value. 


Referred to as gold bullion, gold bars often contain the highest percentage of pure gold. It can often be rewarding to own gold bars, especially given the high purity content. In fact, individuals who wish to invest in a gold IRA must own 99.5% pure gold to qualify for account ownership. 


Many individuals who own gold find it enjoyable to incorporate the precious metal into various jewelry pieces. Necklaces, earrings, bracelets, and rings often contain large amounts of gold that show off the owner’s holdings in a stylish way. 


Most physical bank branches do not commonly carry precious metals. However, Online retailers such as Nationwide Coin & Bullion offer several advantages when it comes to selecting particular gold assets for purchase. Before making any decisions about purchasing gold or silver, be sure to contact our representatives at Nationwide. We’re standing by, ready to answer any questions you may have about physical gold and silver ownership and help you understand your options.

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