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How to Buy Gold Bars

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From the Archives : Originally published July 20th, 2012
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Category : Gold University

 

 

 

 

There are a few factors to consider when researching and understanding how to buy gold bars.





Before you start buying gold bars, you should consider:

1. Different sizes of gold bars.

2. Where to buy gold bars.

3. The ease of liquidity and hallmark recognition.


I.                  Different Sizes of Gold Bars


Gold bars come in different sizes or weights. They are sold as small as per gram, per ounce, per kilo, or even per 400 oz gold bar.

Determining which size gold bar to buy depends on various factors like your budget, your premium and per ounce targets, your liquidity objectives, bar hallmark brand recognition, etc.

Generally speaking the bigger the gold bar, the less premium you will have to pay per ounce of gold. This is due to the fact that it is less costly and labor intensive to produce a large gold kilo bar per ounce compared to a small 1 oz gold bar.

Another general rule to keep in mind when buying gold bars is that the larger the gold bar, the smaller the pool of potential buyers or investors who can afford it. In other words, not many people in this world can buy a 400 oz gold bar while many more people can afford for instance a 10 oz gold bar.


II.               Where to Buy Gold Bars


Gold bars can be bought in numerous ways, including but not limited to buying on online auction websites like eBay or through bullion dealerships like our very own GoldSilver.com. Some investors buy gold bars locally at coin shops, while in some countries investors can even buy physical gold bullion bars directly from banks.

Almost every gold retail outlet has more than one payment option: bank wire transfer, credit card, cash, postal money orders, checks, and PayPal are all but a few payment methods being used within the gold industry.

Always consider any differentiators that some gold dealers may have over others. The gold dealer with the lowest price doesn’t necessarily mean it is the best choice.


III.           The Ease of Liquidity and Hallmark Recognition


Liquidity is an important factor with any investment and when dealing with gold bars, being able to liquidate a position in gold should be quick and easy to do.

As a gold investor, you will want to acquire gold bars minted from trusted, established, well-known suppliers. If you buy highly recognized hallmarks ( gold bar brands ) like those offered through GoldSilver.com, you will be able to easily sell your gold bars virtually anywhere in the world at a fair price.

Do not buy gold bars from suppliers that are not well known or established. Doing so invites the risk of not being able to sell your gold bar at a fair price or worse yet, receiving a counterfeit bar.




Don't Get Ripped Off


Investors should perform proper due diligence to understand all the costs involved when buying gold bars. Extraneous expenses can quickly add up. You will want to know if there are any hidden commissions, shipping costs, insurance fees, or extra charges for using credit cards, bank wire transfers, etc.

Regardless of the gold dealer you decide to use, make sure you verify a company's reputation and credibility through resources like RipOffReport.com and the Better Business Bureau. You only want to do business with trusted, reputable gold dealers with positive customer reviews.

 

 

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Since 2005, Mike Maloney has been the precious metals investment advisor to Robert Kiyosaki, author of the most successful financial book in history, Rich Dad, Poor Dad. Mike founded GoldSilver.com, an online precious metals dealership featuring concierge services, physical delivery of gold and silver to customer doorsteps around the world, as well as providing international 3rd Party Vault Storage options for customers' precious metal holdings
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