Finding where to purchase gold bars is not really all that difficult. There are various options for someone to pursue when they are trying to find gold bars for sale.
Once a person finds a broker, dealer, or other source of buying gold bars, then taking the time to investigate the many outlets, brokerage houses, gold dealers, and independent retailers will prove to have been a valuable tool in the financial tool belt.
Important Information to Know When Buying Gold Bars
Gold bullion bars, also known as ingots, are made when melted (molten) gold is poured into a mold that is only used to forge the gold bar. The size and weight of the gold bar is determined by the volume of the mold. Another way gold bullion is formed is by placing the molten gold into flat trays which will make the gold thinner. Those flatter pieces are then cut to make smaller ingots. They are then stamped showing their purity, weight and the name of the manufacturer.
Gold is measured in weight terms called the “troy ounce” which is often shortened to ounce for ease of use. Smaller quantities of gold are measured in grams. One troy ounce of gold contains 31.1034768 grams of gold.
The highest form of pure gold is 24 karat gold. The purity of gold is defined in terms of nearly one hundred percent pure. Bear in mind that no gold bar will ever be one hundred percent pure. The highest purity is .99999 or 99.999 percent. A more typical amount of purity in a 24 karat gold bar would be .999 percent pure. The degree of purity of the gold is stamped on the bar, often along with the name of the manufacturer.
A certificate of authenticity will be provided to the investor when the sale transfer takes place. This certificate of authenticity should remain with the gold piece until it is sometime transferred again in the future.
Where to Begin Looking For Gold Bars for Sale
Government issued gold bars may be purchased by going directly to the government minting house. In the United States that would be located online at www.usmint.gov. There you will not technically find gold bars as one might think of them, rather the gold bars for sale U.S. mint style, is in the form of commemorative coins. These coins are a great way to buy gold, and the premium paid for any amount over the actual market cost of the gold is made up for in collectable value due to the coinage markets. Coin collecting is another form of investment, but for purposes of gold coins the two concepts overlap.
Other places where a person might find gold ingots for sale could include:
- Gold coin manufacturing mints in the United States or other countries that are not owned by the government. These mints are private businesses that mold gold ingots, bars and rolled commemoratives.
- Online Brokerage houses who are authorized to distribute gold bars and gold ingots for sale. There are several reputable brokers who have been around a very long time, have a proven history, and are reliable and fair. An investor should be sure the company is well established and reputable by checking various sources.
- Coin dealers in a local brick and mortar store. The investor will want to once again look for dealers who are well established and have a history in the community.
- Trade shows and gold exhibition shows are a great way to find gold for sale. A person should be well versed in the buying, selling and trading of precious metals before laying down any cash for gold. Keeping in mind that most people who are at the trade show are reputable, but they should still be wary of the deal that looks too good to be true or a seller who is overly anxious to sell his product. Remember, if it looks too good to be true, it probably is!
- Banks are another good source for purchasing gold coins and bullion. The large banks will be able to provide documentation as to the current market rate, and may even have some gold bars, ingots or coins in their safe for immediate purchase.
Should I Use An Online Auction Service?
Another alternative when looking for where to buy gold bars might be an online auction. An investor should use caution when utilizing this type of service though. Extreme caution should be exercised by anyone, but this is especially true for a novice. Gold is very expensive and buying online from a private party may have many fraudulent issues attached to the sale, such as counterfeiting. An investor should find a known and reputable independent escrow company – not one recommended by the seller – to oversee the transaction. It would also be of utmost importance to have the gold appraised by an independent appraiser. Again, the appraiser should be hired independently and not simply one who was recommended by the seller.
Finding gold bars for sale is not challenging, and is a safe, reliable form of investment. Choosing a steadfast dealer to assist with the purchase will help the investor rest easily knowing their purchase is legitimate. Owning gold as part of a diversified holding portfolio, will help to give confidence to the investor that they have safe, secure holdings that are uniquely their own style. There was an older commercial showing a woman wearing gold, and the tag line had to do with how noting feels like real gold. When it comes to investing in gold bars, coins, bullion, ingots, or jewelry – noting feels like real gold.