Where to Buy Gold

Gold is easier to buy than ever. You can purchase coins and bars from an online dealer, pick them up at a local coin shop or even add a gold bar to your warehouse club order. The harder part is identifying a seller that charges a fair price and delivers what it promises.

The search for the right source is especially important when you’re using retirement savings. Over the past 10 years, the Commodity Futures Trading Commission (CFTC) has filed charges against numerous companies, accusing them of selling overpriced precious metals and alleging over $500 million in fraudulent sales. Many of their victims were older workers and retirees.

This guide will explain the options for buying gold online, in person and for an individual retirement account (IRA). You’ll also learn how coins compare with bars, what premiums to expect and the red flags that warn you to walk away.

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Where to Buy Gold Online

Established bullion dealers and U.S. Mint-authorized purchasers that post live prices, list a physical address and offer to buy your gold back are the safest places to buy gold online. Other options include marketplaces, bank brokerages, and digital gold platforms, but each of those comes with trade-offs in price, trust and delivery.

Whichever way you go, start by checking the “spot,” which is the current market price for a single troy ounce of gold. A dealer is always going to sell above spot and buy back below it. The difference between those two prices is called the “spread,” and each dealer sets its own. Shipping, insurance, and payment method can add to the total, so check the final checkout price.

Source	Typical products	Key trust signals	Fees and premiums	Shipping and insurance	Buyback options
Online bullion dealers	Government coins, bars, rounds	Years in business, physical address, published prices	Premium over spot varies by product; card payments may cost more	Often free over a set order size; insured shipping	Usually posts buyback prices
Online marketplaces and auctions	Coins and bars from individual sellers	Seller history, return policy, buyer protection	Set by each seller; auction fees may apply	Varies by seller	None from the platform
Mint authorized purchasers	New government bullion coins and bars	Listed on the U.S. Mint website	Competitive because they buy directly from the Mint	Varies; some sell only wholesale	Required to buy and sell
Bank brokerages	Gold exchange-traded funds (ETFs); physical gold at some firms	Regulated financial institution	Trading fees or fund expense ratios	None for ETFs; varies for physical gold	Sell shares at market price
Digital gold platforms	Fractional ownership of vaulted gold	Allocated storage, regular audits	Storage fees; fees to take delivery	Delivery costs extra, if offered	Sell back through the app

For dealer ratings, see our guide to the best gold dealers. If you’d rather skip physical gold, learn how to buy a gold ETF.

Online Bullion Dealers

Online bullion dealers’ coin and bar prices are tied to the live spot price. Most lock in your price when you place your order, then ship after your payment clears. Retail metal dealers aren’t regulated at the federal level, so the CFTC suggests that you verify a dealer’s physical address and how long it has operated. It’s also a good idea to check with your state attorney general for complaints.

Before you buy, ask what the dealer would pay if you sold the same item back tomorrow. A dealer that posts its buyback prices shows you up front how much you’d lose if you sold right away, which is your real cost of buying.

Marketplaces and Auctions

Marketplaces and auction sites connect you with individual sellers rather than a single dealer. Choosing this route may lead to lower prices, but you won’t be able to test the gold before it ships. Stick to sellers with a long sales history, read the return policy and pay through the platform so you keep any buyer protection it offers.

Mint Authorized Purchasers

The U.S. Mint doesn’t sell its bullion coins directly to the public. It distributes them through a network of authorized purchasers, which must meet strict financial standards and maintain a two-way market by both buying and selling. A lot of these authorized purchasers are wholesalers, selling only to other dealers, but some will also sell to individual buyers. You can find the current list on the U.S. Mint website.

Red Flags to Avoid

The CFTC warns that fraudulent dealers often oversell safety, inflate prices, and hide fees. If a seller does any of the following, it’s a good idea to walk away:

• Contacts you unsolicited by phone, email, social media post, or infomercial
• Tries to tempt or pressure you with a limited-time offer or a gift
• Won’t put all fees, commissions or the buyback price in writing before you pay
• Tries to convince you that “numismatic” or “semi-numismatic” coins are a better investment than bullion
• Offers to finance your purchase and store the gold for you, so you never see it
• Advertises prices well below spot, which can signal counterfeit products

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Where to Buy Gold Locally

If you prefer to buy gold in person, you can do so at local coin shops, pawn shops, jewelry stores, and coin shows. Out of all of these, an established coin shop is usually the best place to buy gold for investment. You can inspect each piece, ask questions face to face, and build a relationship with a dealer you may want to sell to later.

The CFTC suggests starting your search with well-established dealers in your community. Before you visit, look up the current spot price so you can judge whether each dealer’s asking price is fair.

Local Coin Shops

Local coin shops buy and sell bullion coins, bars and collectible coins. Many will match or come close to online prices, and buying this way lets you avoid shipping costs and delivery delays. Look for a shop with a long local track record, clearly posted prices and membership in a trade group such as the Professional Numismatists Guild (PNG) or the American Numismatic Association (ANA).

The downside to in-person shopping is that the selection is likely to be limited. A small shop may only carry a few popular coins and bars, and prices can vary more from shop to shop than they do online.

Pawn Shops and Jewelry Stores

Pawn shops sometimes sell gold coins and bars, but inventory is unpredictable, and staff may not specialize in bullion. Prices are often negotiable, so know the spot price before you make an offer.

Jewelry stores may seem like a good choice, but they are a poor option for buying investment gold. The gold in jewelry is usually less than pure, and prices include design and labor costs you won’t recover if you want to sell. If your interest in gold is mainly for its value, choose bullion over jewelry.

Gold Shows and Expos

Coin shows offer access to many dealers, gathered in one room. This makes it easy to compare prices and inventory, but the CFTC warns buyers to watch out for pop-up dealers who sell at public events or ask to come to your home. Before buying at any show, confirm that the dealer has a permanent business address and a buyback policy.

Also, remember that shows can create pressure to buy on the spot. If you’re told that pricing is only good for today, consider it a reason to slow down rather than speed up.

How to Verify Authenticity

Counterfeit gold, often using a tungsten core under gold plating, is a real concern. Tungsten is almost as dense as gold, so a fake bar can pass a simple weight check. It’s a good idea to either run several checks or, alternatively, ask the dealer to test the item in front of you using a professional device.

When buying gold in person, use these checks before you pay:

• Compare weight and size. Use a scale and calipers to check the item against the published specifications from the mint or refiner.
• Use a magnet as a first screen. Gold is not magnetic, so if a piece sticks, it’s fake. Remember, even a piece that passes this test isn’t necessarily real.
• Ask for electronic testing. Many dealers use a resistivity tester or an X-ray fluorescence (XRF) analyzer, which reads the metal’s makeup without damaging it.
• Inspect hallmarks and assay cards. Bars from major refiners carry a weight, purity, and serial number. Confirm the serial number with the refiner when possible.
• Compare the price with the spot. A price well below spot isn’t a bargain; it’s a warning sign.
• Ask about buyback. A dealer willing to buy the item back stands behind what it sells.
• Get an itemized receipt. A receipt should list the product, weight, purity, price, and dealer contact information.
• Check the dealer’s reputation. Contact your state attorney general or local consumer protection office to look for complaints. You can also learn a lot from online reviews.

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Buy Gold Coins vs. Gold Bars

Gold coins are easier to sell in small amounts than gold bars, but gold bars usually cost less per ounce than coins. The biggest difference between the two is the premium, which is the amount you pay above the spot price. Premiums cover minting, distribution, and dealer costs, and they get lower as the size of the piece grows.

A 1-kilogram gold bar from a major refiner like PAMP Suisse or Valcambi typically sells for 1% to 2% over spot. A 1-ounce government coin like the American Gold Eagle or Canadian Gold Maple Leaf usually runs 4% to 8% over, and fractional coins can run 12% to 20% over spot. Premiums increase when demand spikes, so check live quotes before you buy.

Option	Typical premiums over spot	Liquidity	Storage needs	Best for
Popular government coins (1 oz)	4% to 8%	Highest; recognized by nearly every dealer	Small; fits a home safe	Buyers who may sell a little at a time
Fractional coins (1/10 to 1/2 oz)	12% to 20% or more	High, but you lose more to premiums	Small	Small budgets or gifts
Generic rounds	Usually lower than government coins	Moderate; less recognizable than coins	Small	Cost-conscious buyers outside an IRA
Small bars (1 oz to 10 oz)	2% to 4% for 1 oz	Good from well-known refiners	Small to moderate	Lower cost per ounce with flexibility
Large bars (1 kilogram or more)	1% to 2%	Lower; you must sell the whole bar	Vault or high-security safe	Large, long-term holdings

• Premiums: A 5% premium means gold will need to rise about 5% before you can break even on a sale at spot. With larger pieces, that premium is lower.
• Liquidity: You can easily sell a single coin at a time, but you can’t sell part of a bar. If you think you might need cash in stages, having a mix of coins and smaller bars will give you more flexibility.
• Storage and fit: Large bars hold more value in less space, but they also call for a professional vault or high-security safe, plus insurance. For more on how gold fits a portfolio, read about investing in gold pros and cons and how to invest in gold.

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Buy Gold for an IRA

Buying gold for an IRA means holding physical gold, usually coins or bars, inside a self-directed IRA that’s  often referred to as a “gold IRA” or “precious metals IRA.” It works like a regular IRA for tax purposes, but it must be self-directed and have a custodian that allows precious metals and an approved depository for storage. Your custodian pays a dealer from your IRA funds, and the dealer ships the gold to the depository.

The Internal Revenue Service (IRS) generally treats an IRA’s purchase of a collectible as a distribution. There are exceptions for some gold coins and bullion, but they only apply if a bank or an approved nonbank trustee keeps physical possession of them.

Use this list to keep your purchase within the rules:

• Open a self-directed IRA. Standard brokerage IRAs typically can’t hold physical gold.
• Choose a qualified custodian. It must be a bank or an IRS-approved nonbank trustee.
• Buy only eligible products. Gold held in the IRA must be at least 99.5% pure, though there is an exception for the American Gold Eagle.
• Skip collectibles. Rare, numismatic, and “semi-numismatic” coins don’t qualify.
• Store gold in an approved depository. You can’t keep IRA gold at home.
• Review your statements. Your custodian reports the melt value of your metals; check that the report matches what you paid for.

IRA Eligible Gold Requirements

Gold bullion held in an IRA must be at least .995 fine or 99.5% pure, though the tax code specifically allows certain U.S.-minted coins. The American Gold Eagle is 22 karat or about 91.67% gold, and is one of the only exceptions. Coins with similar purity but minted in foreign countries, such as the South African Krugerrand, do not qualify for an exception.

Home storage is not permitted. In a 2021 case, the U.S. Tax Court ruled that a taxpayer who kept IRA-purchased gold coins at home had taken taxable distributions. Learn more about what IRA-eligible gold means.

Custodian and Depository Selection

At your direction, your custodian buys the metal for a gold IRA and handles all the paperwork, including reporting it to the IRS. It usually partners with one or more insured depositories that store and protect gold. The depository holds your gold either in segregated storage, apart from other clients’ metal, or in commingled storage, which often costs less.

Expect several layers of fees, including for account setup, annual storage, insurance, and an annual custodial fee. The CFTC warns that self-directed IRA fees are typically higher than fees for standard IRAs, pointing to a case in which a dealer and custodian allegedly took about $150,000 in fees and commissions from a $300,000 IRA rollover. Make sure that you get every fee in writing before you move any money.

Common IRA-Approved Products

These widely available products meet IRS standards:

• American Gold Eagle (statutory exception at 91.67% purity)
• American Gold Buffalo (99.99% pure)
• Canadian Gold Maple Leaf (99.99% pure)
• Austrian Gold Philharmonic (99.99% pure)
• Gold bars of at least 99.5% purity from accredited refiners

Your custodian may limit which products and dealers it accepts, so confirm before you place an order.

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Frequently Asked Questions (FAQs) About Where to Buy Gold

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Article Sources

Retirement Living writers primarily rely on government data, industry experts, and original research from other reputable publications to inform their work. Specific sources for this guide include:

1. Commodity Futures Trading Commission, “Joint Effort Launches to Warn Retirees about Precious Metals Fraud and Gives Tips on Protecting Themselves.” Accessed Oct. 28, 2026.
2. Commodity Futures Trading Commission and Financial Industry Regulatory Authority, “Customer Advisory: 10 Things to Ask Before Buying Physical Gold, Silver, or Other Metals.” Accessed Oct. 28, 2026.
3. United States Mint, “Becoming an Authorized Purchaser.” Accessed Oct. 28, 2026.
4. GoldSilver, “Gold Spot Price vs Premium Explained.” Accessed Oct. 28, 2026.
5. Internal Revenue Service, “Investments in Collectibles in Individually Directed Qualified Plan Accounts.” Accessed Oct. 28, 2026.
6. Journal of Accountancy, “Gold Coins in Taxpayer’s Home Were Taxable IRA Distributions.” Accessed Oct. 28, 2026.

Help us improve our guides! If you’ve recently bought gold or have insights on working with a gold dealer, we’d love to hear from you. Share your experience with us at [email protected]. Your personal details will stay completely confidential.