How do I buy gold bars?

Gold has been an important asset and medium of exchange for thousands of years.

Gold can help you diversify your portfolio or be a long-term investment that tends to appreciate in an inflationary environment. Buying gold bars is a popular and viable way to invest in physical gold. This generally involves paying the lowest price per troy ounce compared to buying gold in any other form. Physically owning your gold gives you the satisfaction of being in complete control of your investment, especially if you store your bullion in a safe at home. Learn how to buy gold bars now.

1. Decide where to buy gold

Before you buy your bullion bars, you should research which dealers specialize in selling bullion bars and only deal with reputable dealers with lots of positive customer reviews. Also, you should choose a retailer that has a no-hassle buyback policy and offers responsive customer service.

Make sure the gold bars you buy have a recognizable hallmark and embossing. With these characteristics, you can be sure that you are buying a real gold bar. While some private mints also produce bullion bars, many of them do not have a hallmark or other identification, so you cannot be sure the bullion bars are pure.

Consider these important factors when choosing a gold dealer to buy bullion:

A merchant's reputation with their customers can be gauged from comments on social media and reviews on sites like Trustpilot. You should also check if the company has received any awards or industry recognition for its services. Stay away from merchants with numerous customer complaints and companies trying to sell you overpriced gold products.
Buyback Policy: Reputable dealers usually have a buyback policy for their customers. This ensures that you will find a buyer for your bars if you decide to sell them. Dealers with a buyback policy usually also offer their customers a reasonable resale price.
Delivery: When buying gold in bulk, bullion dealers who offer a flat rate delivery are probably the cheapest option. Bullion dealers typically do not ship the gold until all payments have been received, which can increase delivery time.
Customer Support: Bullion dealers typically have a toll-free number and/or live chat option on their website. A good dealer will also offer an order tracking and tracing service and ship the gold with proper insurance. Customer service can be very important should there be a problem with your order.

2. Register with the gold dealer

Because most U.S. banks that sell gold only deal in government-minted gold coins, the best places to buy bullion are usually local and online gold dealers. Other ways to acquire bullion include online auctions on eBay and gold-to-go machines (ATMs).

Such ATM gold machines can be found in cities like Dubai and Las Vegas. Make sure you know the current market value of the gold, however, as these machines often add a significant premium to the spot gold bullion price.

3. Gold alloy type selection

In general, if you are looking to buy gold bars, you should only invest in bars that are 99.9% pure gold and not alloys where the gold is mixed with other metals. Once you have chosen a reputable source for buying gold bars, you need to decide whether you want to buy a cast, minted or combo bar.

Each of these bar types, while made of investment grade gold, have different characteristics, advantages and disadvantages:

Cast: This type of gold bar is also known as "cast" or "molded". They are "cast" in a special mold that ensures the appropriate weight and size. This process dates back to the 4th century BC. in China. Cast bars tend to have a sturdier appearance and usually have a simple engraving describing the details of the bar and its maker. Due to the economic efficiency of this process, cast ingots are usually the most economical investment.
Coined: You might find this type of bar in Fort Knox. They have a smooth, shiny appearance and are the most commonly found bullion bars. The beautiful finish of these bars makes them more expensive than traditional cast bars and they are often easier to sell as they are very popular. They are also securely packaged and may lose value if you open the packaging.
CombiBar: The CombiBar is the size of a credit card and weighs 50 grams. It is usually the most expensive type of bar and has a purity of 99.9% gold. Each bar can be manually broken down into 1 gram chunks, which can be very useful if you ever need to use your gold as a form of payment.

4. Payment for your gold

When buying bullion bars from a reputable online or local bullion dealer, you need to select the bars you want to buy by weight, quantity and price. After making your selection, place the gold bars in your shopping cart, choose a payment method, provide your postal address to receive delivery, pay for the order online and check out.

Payment for your bullion from an online bullion dealer is typically done by credit/debit card, bank transfer, PayPal or eCheck. Some gold bullion dealers have recently started accepting selected cryptocurrencies as a means of payment. Take-home gold ATMs accept cash, credit, and debit cards. When you buy gold bars on eBay or other online auction sites, you must pay using a method acceptable to the seller.

5. Trade your gold

Although bullion can be traded, buying bullion as an investment generally makes more sense than considering it as a tradable commodity. Even with a good buyback policy from your gold dealer, trading spot gold through an online forex broker is generally far less of a hassle than trading physical gold. Buying and selling gold bullion requires insured shipping, receipt and physical transport of these valuable items and could pose a risk of theft. On the plus side, finding a buyer for your gold is generally not difficult due to the high level of purity and standardization of gold bullion. If you decide to sell your gold bars, you should make sure

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