Compare Dealer Prices on Gold Bullion Coins & Bars
Gold spot prices are one of the most important factors to many investors who cost average their purchases or who buy on the dips in price. Furthermore, the premium that investors pay over the current spot price of gold can be even more so important. Below you can browse through popular gold bullion products and compare prices being offered by top online dealers side by side.
Compare Gold Bars & Coins by Dealer & Price
Gold Bars – Produced by private mints & government run mints throughout the USA and other parts of the world, gold bars are a low cost option for investors who are seeking to buy gold purely for its content and weight. Find online gold coin & bullion dealers and compare their prices on popular gold bars.
Gold Coins – Gold coins are offered by a number of governments throughout the world including the US Mint, Royal Canadian Mint, Perth Mint, Chinese Mint and more. Browse popular gold bullion coins and find the lowest dealer premiums by clicking the button to the right.
Gold Bullion Premiums
A “premium” or “spread” is the amount you will pay over the current spot price of gold for a bullion bar or coin. These are usually calculated based on a dealer’s acquisition costs and are displayed as either a percentage or flat rate over spot. The premiums you pay now for a piece of gold bullion can potentially play a key role not only when initially purchasing the bullion but also when selling it later on down the road. Paying lower premiums now can help you get your average cost per ounce as low as possible.
Gold Bar Prices
Gold bars are definitely one of the first choices for those investors who are seeking to buy bullion purely for gold content and are not concerned about the fancy designs and government backing associated with coins. Because bars are produced by such a vast amount of precious metals companies, this means there are more of them available on the market than many other types of gold, driving up the overall supply.
Another factor that goes into the price of a gold bar is the production cost. Some bars are much cheaper to produce than others because they have such straightforward designs and are produced on a large scale. For example, the one ounce OPM gold bar, which contains only the companies logo and is made in large quantities, may cost less to produce than say a PAMP Suisse gold bar which contains a more intricate, appealing design.
Gold Coin Prices
Gold coins are admired for their unique and artful designs which are often drawn up by some of the top sculptors in the country who is minting and backing them. The designs featured on gold coins will, more often than not, commemorate a nation’s historically significant figure, a national landmark or symbol, or a historical event. These designs are usually very in-depth and detail oriented meaning the price is higher to produce them.
Another major factor that goes into the price of a gold coin is the fact that only government mints can produce them. The government producing the coin also backs it for purity and weight. This means that each nation has merely a few designs and can only produce a limited amount of the coin each year. Coins are sought out more so by collectors but can also make for a solid investment for those looking to take delivery of pure gold that is backed by the government.
If you are new to purchasing precious metals you might wonder why the bullion products you see listed for sale online are priced above the current bid or ask price of gold. Because the mints who manufacture and distribute the bullion have to cover their overhead and make a profit, they will mark up their bullion and pass those costs along to the retail distributors. This is an inevitable part of the buying process for gold investors, and often you will be paying between 1% and 10% above gold spot price depending on the product.
Commissions and Transaction Costs for Gold Bullion
On top of the premium a gold dealer is charging for products, you should also keep an eye out for other costs associated with the transaction. One common charge that is added on to certain purchases are processing fees. These extra fees are commonly charged only for transactions completed with a credit card or PayPal because the retailer has to pay processing fees on each of these transaction. Each dealer will have different policies, so it will be a good idea to read their payment options page to see the costs associated with each payment type and figure out what will work best for your purchase.
Bulk Discount Prices
One of the best ways to get the lowest price, aside from comparing dealer premiums and transaction costs, is to buy gold in bulk. Though it may sound intimidating, many bulk or wholesale discounts are offered by dealers for quantities of as low as 2-5 coins or bars. A good way to get your cost down is to buy in bulk. For example, if you plan on buying 6 gold coins and a dealer offers a bulk discount at the quantity of 5, you may be able to save some money by buying 6 of the same coin rather than 6 different coins.
Though physical gold bullion and coins have attracted the interest of investors for many years, it has particularly become more popular over the past decade or so. This was mainly due to its steady rise in price over the first part of the 21st century. In early 2000, gold was trading at around $300 USD per ounce as it gradually went up in price over the following years until it hit $1,800 in 2011. Since 2011, gold has pulled back a bit but is still trading at historically high prices which have been on average over $1,200.
Why Gold Is Considered An Investment Vehicle
With the U.S. government printing a massive amount of paper money and global economic issues occurring more often, gold has become a so called “safe haven” investment vehicle for those looking to put their paper money into a somewhat stable and highly liquid assets. Unlike other forms of investments such as stocks, gold has been considered by many to be a better store of value over long periods of time.
Historically speaking, gold has been one of the most popular physical assets in times of economic uncertainty. Because gold is valued in most all countries, if a government was to fail and their paper money was deemed worthless, gold would still be of value. On top of that, its rarity and practically unlimited amount of uses in industry and technology have put the yellow metal in high demand.
Some investors also prefer to own gold, particularly in smaller increments (such as 1/10 oz or 1/4 oz sizes) in case there is an economic collapse and the paper dollar becomes worthless. In a scenario such as this, people with this logic would hope that they would be able to use it as a means of trade. This is because, gold has been one of the longest lasting and most popular physical assets to humans over the past thousand plus years.
Buying gold bullion is one of the easiest ways to gain exposure to precious metals today. It’s available in three different forms and can be purchased both online and locally at cash for gold operations or coin shops. Read on to learn more about the types of gold bullion that are available for investment.
Gold Bars As An Investment
One of the most conventional ways of investing in gold is to buy gold bars. Buying gold bars is very easy because they are available in such a wide variety of sizes and many companies produce them. This means that there is usually a steady supply of them on the market, and new bars are being manufactured all the time.
Gold bars are made in sizes ranging from as small as 1 gram all the way up to 1 kilogram (and in some cases even higher). One of the major advantages to buying gold bars, aside from their low price over spot, is that they are easy to stack and store when accumulating a large amount over time. Because of this, they can be easily stored in something like a desk drawer or even in a secure safe. Below are a few popular weights gold bars are produce in:
- 1 gram
- 2.5 gram
- 5 gram
- 10 gram
- 20 gram
- 50 gram
- 100 gram
- 1 oz
- 10 oz
As we briefly mentioned above, bullion bars will, more often than not, carry lower markups over the current spot price compared to coins, which can help investors get the most pure gold bullion for their money. While gold bars have many advantages, so to do other types of gold such as coins.
Gold Coins As An Investment
Another popular physical gold investment vehicle is gold coins. One of the advantages of buying gold coins over bars as an investment is that they hold a legal tender value in the country from which they were minted in. For example the Canadian Gold Maple Leaf contains one troy ounce of fine .9999 gold and also has a $50 face value in Canada (even though it would be foolish to spend it because the gold content is worth significantly more than the face value).
Coins also generally have more intricate designs and are more sought after and collectible than bars or rounds. This makes them somewhat easier to sell if you ever decide to do so because demand is usually always there.
Price of Gold Coins
Because bullion coins are more collectible than bars and carry slightly higher production costs, they will usually sell for higher premiums over spot price. Most all gold coin prices are subject to change more often than bars depending on the supply and demand for that coin at any given time. The price you pay for a gold coin will also depend on the year that it was minted as well as its condition, purity and weight.
One small disadvantage of buying gold coins is that if you purchase different coins from different government mints, or even of different weights, you can’t stack and store them as neatly as you would bars. This can be inconvenient if you plan to accumulate a large amount over time. You can, however, purchase tubes for the coins and place them inside for easier and more organized storage.
Now that you know some more about the two main types of physical gold investments, we will go into more detail on buying these different types of physical gold bullion.
Buying Gold Bars
Gold bars are rectangular in shape and are found in sizes ranging from 1 gram all the way up to 400 ounce bricks. Some of the most common sizes that Gold bars are produced in include 1 gram, 5 gram, 10 gram, 1 ounce and 10 ounce. Most smaller variations come in an assay card assuring the bars authenticity as well as its purity and the mint of origin while most larger bars come with a certificate of authenticity or a serial number.
Gold Bar Purity and Liquidity
Most bars consist of .9999 Fine Gold and are produced by private mints throughout the world. All bars should be marked with their weight, purity and the mint that produced them. Gold bars are highly liquid meaning you can exchange them for paper money or other goods rather quickly and easily. When you decide to sell them they are fairly easy to get rid of and even most online retailer will buy them back at or above spot price.
Gold Bar Sizes and Collectibility
Swiss Gold bars such as Credit Suisse and PAMP Suisse are among the most desirable due to their quality and designs. They offer bars in the sizes of 1 gram, 2 gram, 2.5 gram, 5 gram, 10 gram, 20 gram, 1 ounce, 100 gram, 10 ounce, kilogram and more. To purchase gold bars online check out JM Bullion as they currently offer some of the lowest premiums for Investment grade gold products online and even offer free shipping on every order!
Buying Gold Coins
Gold coins are circular in shape and are produced by government mints throughout the world. Coins tend to be more collectible than bars due to their limited supply and elaborate designs. New coins are minted on an annual basis in most countries and each one is marked with which year it was produced as well as it’s weight, purity, and country of origin.
Gold Coin Face Value
Most coins have a “face value” and are considered legal tender in the country they were minted. The face value a coin carries is unrelated to the value of Gold it contains. For example a 1 troy ounce American Gold Eagle carries with it a face value of $50 USD while its melt value is around $1,400 in today’s market.
Gold Bullion Coin Packaging and Collectibility
Most gold coins come in tubes when ordering in larger quantities and are easy to stack and store. Like bars, gold coins are highly liquid. Though you might pay a higher premium to purchase a gold coin you will generally see a return with a similar premium when selling it. This is due to the fact that coins are very desirable and sought after by collectors throughout the world.
How can I get the best prices for physical gold bullion?
Generally, buying gold bars and coins in bulk is the best way to get the lowest premiums. Premiums are the dollar amount over spot price that a coin, round or bar sells for. This price is usually caused by the production costs that a mint or refinery experiences when making the coin or bar. From here, the retail level gold dealers who are selling the bullion to investors also have to cover their overhead and make a profit.
Bars and rounds tend to have the lowest premiums compared to other forms of bullion, so if you are looking for the cheapest prices for gold products based on gold purity and content alone, bars and rounds are usually the way to go. If you are not going to buy in bulk, then the best way to find the cheapest prices for gold bullion is to shop around and compare prices that different dealers charge for the same items. By doing this you can usually find the best place to buy gold.
Should I Buy Gold bars, coins, or rounds?
It doesn’t necessarily matter, as long as long as the gold content and weight are the same. It basically comes down to your personal preference. The only advantage to buying coins is that they hold a monetary value in the country from which they were minted. For example, the American Gold Eagle contains 1 oz of fine gold and also carries a $50 face value in the United States.
Gold Bullion Premiums Over Spot
Generally speaking, gold coins have a higher premium over spot price compared to gold bars and rounds. If you are looking to get the most gold for your money then usually bars and rounds are the way to go. They generally carry a lower premium over spot price for the same amount of gold content which can be more cost effective. Most online sites also offer a bulk discount which is the best way to get cheaper prices over spot per ounce of gold.
Can I Buy Gold Bullion As Part of My Retirement Plan?
In most cases you can purchase gold bullion or coins as part of a self directed retirement plan. This requires finding a proper custodian and storage company as well as choosing the right dealer to buy the gold from. Most gold bullion bars are eligible for a precious metals IRA account if they are at least 99.9% (.999) pure, this includes coins as well in most cases with the American Gold Eagle being eligible as well (even though it is .9167 pure).