Buy Gold Bars from Bank?

Written By Colin Kuehn  |  Gold 

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Gold has long been considered a valuable investment and a hedge against inflation, as well as a store of wealth in uncertain economic times. With increasing interest in precious metals, more investors are looking to buy gold bars as a way to diversify their investment portfolios. In this article, we will discuss the process of buying gold bars at the bank, alternative methods to acquire gold, and how to safely store and manage your investment. This comprehensive guide will provide you with all the information you need to make an informed decision about investing in gold bars.

Can You Buy Gold Bars at the Bank?

The short answer is yes, you can buy gold bars at some banks. However, not all banks offer this service, and it may vary depending on the bank's location and size. In general, larger banks and those located in countries with a strong gold market presence are more likely to offer gold bars for purchase. To find out if your bank offers gold bars, you can contact their customer service or visit their website for more information. It is essential to understand that buying gold bars from a bank often comes with higher premiums and additional fees compared to purchasing from a trusted dealer, which we will discuss in the next section.

Purchasing Gold Bars from a Trusted Dealer: Augusta Precious Metals

zero fees from Augusta precious metals

If your bank does not offer gold bars, or if you are looking for a more cost-effective option, you can consider purchasing from a trusted dealer such as Augusta Precious Metals. Augusta is a reputable precious metals dealer that offers a wide selection of gold bars in various sizes and weights. When buying gold bars from a trusted dealer, it is crucial to ensure that they are certified and adhere to industry standards. Augusta Precious Metals guarantees the quality and authenticity of their gold bars, which come from refineries approved by the London Bullion Market Association (LBMA).

Buying Gold with an IRA

Another option for investing in gold bars is through a Gold Individual Retirement Account (IRA). A Gold IRA allows you to diversify your retirement savings by investing in physical gold bars or coins. To open a Gold IRA, you will need to work with a custodian who specializes in precious metals and a reputable dealer to buy the gold bars. It is important to note that the gold bars must meet specific purity requirements to be eligible for inclusion in a Gold IRA. Additionally, the custodian will hold your gold bars in an approved depository, ensuring their safety and security.

Additional Options for Buying Gold Bars

an enormous pile of gold bars in the bank

Apart from banks and trusted dealers, there are several other ways to buy gold bars. These include:

  1. Online retailers: Many online platforms specialize in selling gold bars and other precious metals. When buying online, it is essential to do your research and choose a reputable seller with positive customer reviews.
  2. Gold exchanges: Gold exchanges are marketplaces that facilitate the buying and selling of gold bars between individuals and dealers. These exchanges often offer competitive prices, but it is crucial to ensure that the gold bars are certified and meet industry standards.
  3. Local coin shops: Some local coin shops sell gold bars in addition to coins and other collectibles. This option allows you to physically inspect the gold bars before purchasing, but the selection may be limited.

Where to Store Your Gold

Once you have purchased gold bars, you will need to decide where to store them. There are several options to consider, including:

  1. Home storage: Some investors choose to store their gold bars at home in a safe or hidden location. This option offers easy access to your gold, but it may not provide the same level of security as other methods.
  2. Bank safety deposit box: Storing your gold bars in a safety deposit box at a bank provides a high level of security. However, this option comes with additional costs, and the gold is not always accessible outside of banking hours.3. Private vaults: These are secure storage facilities operated by private companies. They often offer insurance and 24/7 access to your gold bars. However, they can be more expensive than other storage options.
  3. Depository services: If you invest in gold through an IRA, your custodian will store the gold bars in an approved depository. These depositories offer high-security storage and insurance but may have limited access.

Are Gold Bars a Safe Investment?

Investing in gold bars is generally considered a safe investment because gold has maintained its value throughout history and offers a hedge against inflation and economic uncertainty. However, like any investment, it comes with some risks. The price of gold can be volatile in the short term, and there can be costs associated with storage and insurance. Furthermore, selling gold bars may not be as quick or straightforward as selling stocks or bonds. Therefore, it is essential to consider these factors and your risk tolerance before investing in gold bars.


Buying gold bars at the bank is possible, but it's not the only option. Trusted dealers like Augusta Precious Metals, online platforms, gold exchanges, and local coin shops are all viable sources for purchasing gold bars. Investing in gold through an IRA is also an attractive option that offers tax advantages. Once you have acquired your gold bars, choosing the right storage option is critical to ensure their security. While investing in gold bars is generally safe, it is crucial to understand the risks involved and consider your financial goals and risk tolerance. As always, it's recommended to consult with a financial advisor or a professional in the field before making substantial investment decisions.

Last Updated: May 9, 2023