In some countries, it is quite common to buy gold coins from banks; however in the US it is not the case. Sure nothing beats holding fresh mint coins straight from the bank but Federal Reserve does not deal with individual customers and sells directly to banks. In very rare cases, some banks might offer commemorative series gold or silver coins but this might take place only for very limited time periods. This should not be confused with buying freshly mint rolled nickel or copper circulatory coins which is a quite common bank transaction.
If you want to buy gold coins from bank in the US, this will not be possible because most US banks will not sell gold bullion coins or bars to the general public. While most banks hold a portion of their securities in gold bullion bars, these are not for sale to the public. It may be possible to buy gold coins from bank in India and some other countries but not in the United States.
Instead, you can purchase gold coins from places like American Hartford Gold.
I rank them #1 in terms of buying gold direct for home storage.
In order to buy gold coins, you need to find reputable gold coin dealers in your area or online. Some good gold online dealers that have become popular in the recent years due to their impeccable reputation are GoldLine, APMEX Gold, Gold Price, Northwest Territorial Mint, Bullion Vault, Bullion Direct and many others. Search online and read customer testimonials before deciding to start purchasing gold bullion coins and bars. Some gold dealers will ask you to open a gold investing account with them, it’s important to compare prices for the same type of gold bullion bar or coin from dealer to dealer to find the absolute best.
To find a list of top gold coins dealers in the US, check out our other article Top 10 Reputable US Gold Coin Dealers and learn more how to build a recession proof investment portfolio with trusted partners. Whether you choose to buy from your local gold dealer or opt to go a major online gold dealer route, knowing the spot price of gold is an important component of any successful transaction. Shop around, compare coin prices, shipping rates and dealer premiums to find the highest quality gold coins at just the right prices.
If you are hesitant about holding physical gold coins, certain gold dealers like Bullion Vault offer a great opportunity to own gold without the hassle and worries of storage and security. Bullion Vault is a precious metal industry leader in storing clients’ physical gold in their super secure vaults located in several locations all over the world. You can buy gold coins from them and they will store these for you. However, some investors forego this route because of the fear of not holding physical gold in their possession and security reasons.
When buying bullion coins it matters what type you buy, certain highly popular bullion coins like American Gold Eagle and others come with higher than average premium costs due to their popularity. You are better off staying with low premium gold bullion products like South African Krugerrands and Canadian Maple Leaf coins.
While buying gold bullion from banks might sound like a good idea, it’s not a possibility in the US. Consider buying gold investment from large Mints and well established gold dealers.
Learn how to buy gold coins from bank in India and which bank is better and why by reading other related article on this website.