If you’re looking to start investing in precious metals to diversify your portfolio, at some point, you may be considering buying gold from a bank. Can you buy gold from a bank? The simple answer is yes, but should you?
To help you make the best possible decisions on where and when to purchase precious metal commodities, we compiled a list of tips and resources to make sure you get the highest quality gold and the best bang for your buck.
While there are banks that do sell gold, the selection of assets for purchase are often limited to a select assortment of gold coins and over time fewer and fewer banks are holding gold that they’re willing to sell over the counter. If you’re determined to buy gold from a bank, make sure you contact them beforehand to ensure they have the supply to sell. A better alternative for most buyers
Buying gold from a bank isn’t for everyone. Online retailers often offer the same quality gold products comparable or better prices. Gold dealers are experienced in what they sell and are often licensed to sell these gold assets to you. Combine the cost saving of a competitive online rate with direct low-cost shipping to your door and there is a good incentive to purchase online.
It’s best to do business with an established precious metal dealer who is located in the United States. Customer reviews can often help clear up concerns and offer personalized takes on purchasing from dealer’s and their reputation. Look for a dealer with lots of reviews and above average rating as opposed to a dealer with 5 stars from handful of “amazing” reviews. Another thing to consider is how long the dealer has been in business. Most trusted dealers in the industry have been selling gold for a while.
While purchasing precious metals and gold from a bank may seem like the safest idea, it’s important to evaluate all of your options before you invest. Some people do feel more confident purchasing gold directly from a bank and that’s perfectly normal, just make sure