Where to Buy Gold Bars Safely and Locally (2024 Upd.)

Written By Colin Kuehn  |  Gold 

We are a reader-supported website. That means we may earn a commission if you click links on our site and make a purchase. This is not financial advice. We recommend consulting with a professional for guidance about your specific situation.

Gold bars are a popular investment option for those looking to diversify their portfolios or hedge against inflation. Gold has a long history of being a store of value, and it has maintained its appeal as a secure investment over time. This article provides a detailed explanation of where to buy gold bars, as well as tips to ensure you are making a safe and legitimate purchase. The information provided will help you make informed decisions when choosing where to buy gold bars.

What's the Best Way to Buy Gold Bars?

dozens of gold bars

The best way to buy gold bars depends on your personal preferences and financial goals. There are a variety of options available, from online dealers to local gold and silver exchanges, private sellers, and banks. Each option has its pros and cons, which we will discuss in detail in the following sections.

Where Should You Buy Gold Bars From?

  1. Reputable Online Dealer: Goldco is Our Top Pick

Online dealers offer the convenience of purchasing gold bars from the comfort of your home. One reputable online dealer that stands out is Goldco. They have a wide range of gold bars available in various weights and sizes. Goldco also offers competitive prices, fast shipping, and excellent customer service. By purchasing from a trusted online dealer like Goldco, you can be confident that you are receiving authentic gold bars.

  1. Local Gold and Silver Exchange

Another option for purchasing gold bars is through a local gold and silver exchange. These establishments typically deal in the buying and selling of precious metals, including gold bars. The advantage of buying from a local gold and silver exchange is that you can physically inspect the gold bars before making a purchase. This allows you to verify the authenticity and quality of the bars. Additionally, buying locally can often result in lower shipping fees and faster delivery times.

  1. Private Sellers

Private sellers, such as individuals or estate sales, can also be a source for purchasing gold bars. The main advantage of buying from private sellers is that you might be able to negotiate a better price. However, this option carries more risk, as it can be difficult to verify the authenticity of the gold bars. If you choose to purchase from a private seller, it is crucial to exercise caution and conduct thorough due diligence.

Tips for Avoiding Scams, and Ensuring Your Purchase Legit Gold Bars

To ensure you are purchasing legitimate gold bars, consider the following tips:

  1. Verify the Dealer's Reputation: Research the reputation of the dealer you are considering purchasing from. Look for customer reviews and testimonials, as well as any complaints or legal issues. Reputable dealers will have a solid track record and positive customer feedback.

  2. Check for Hallmarks: Authentic gold bars will have hallmarks indicating the weight, purity, and manufacturer. Familiarize yourself with these markings, and ensure that the gold bars you are considering have the appropriate hallmarks.

  3. Request a Certificate of Authenticity: A certificate of authenticity (COA) provides information on the gold bar's weight, purity, and manufacturer. Reputable dealers should be able to provide a COA for their gold bars.

  4. Conduct an Independent Appraisal: If you are unsure about the authenticity of a gold bar, consider having it appraised by an independent expert. This will give you an unbiased opinion on the gold bar's quality and value.

Can You Buy Gold Bars from a Bank?

Yes, some banks sell gold bars to their customers. However, not all banks offer this service, and availability may vary depending on your location. If you are interested in purchasing gold bars from a bank, contact your local branch to inquire about their offerings. Keep in mind that banks may charge a premium for gold bars, so it is essential to compare prices with other sources before making a purchase. Additionally, banks typically have a limited selection of gold bars compared to other sources like online dealers or local gold and silver exchanges.

Final Tips Before Buying Gold Bars

Before making a purchase, consider these final tips to ensure a smooth and successful transaction:

  1. Compare Prices: Research and compare prices from various sources to ensure you are getting a fair deal. Keep in mind that the price of gold fluctuates throughout the day, so it is essential to monitor market trends when making a purchase.

  2. Determine Your Investment Goals: Assess your investment goals before buying gold bars. This will help you decide on the appropriate size, weight, and quantity of gold bars to purchase. Consider factors such as your risk tolerance, investment time horizon, and the role gold will play in your overall portfolio.

  3. Understand Storage Options: Make sure you have a plan for storing your gold bars securely. Popular storage options include safe deposit boxes at banks, home safes, or professional vault services. Each option has its pros and cons, so it is crucial to choose the one that best aligns with your needs and preferences.

  4. Consider Tax Implications: Be aware of any tax implications that may arise from purchasing gold bars. Tax laws vary by jurisdiction, so it is essential to consult with a tax professional to understand your specific situation.


In conclusion, there are several options for purchasing gold bars, including reputable online dealers like Goldco, local gold and silver exchanges, private sellers, and banks. Each option has its advantages and disadvantages, so it is essential to choose the one that best aligns with your needs and preferences.

To ensure a safe and legitimate purchase, follow the tips outlined in this article, such as verifying the dealer's reputation, checking for hallmarks, requesting a certificate of authenticity, and conducting an independent appraisal.

Finally, remember to compare prices, determine your investment goals, understand storage options, and consider tax implications before making a purchase.

By following this comprehensive guide, you can confidently buy gold bars and invest in this timeless and valuable asset.

Last Updated: December 31, 2023