The Best Place To Buy Gold in 2023
The Best Place To Buy Gold in 2025
Discover trusted dealers, avoid scams, and get the best prices on gold bullion, coins, and bars
Introduction
A professional gold dealer is your best option when buying gold. We'll explain what the marks of reputable gold dealers are, as well as where and how to buy gold safely and securely.
The good news is that with a little bit of homework upfront, you'll be able to find the right gold dealer for you. You'll want a reliable one with whom you can establish a solid relationship when you wish to buy or sell gold. Understanding current gold prices and market conditions will help you make informed decisions throughout the process.
This comprehensive guide will walk you through the best places to buy gold, from local dealers to online platforms, and provide you with the essential knowledge to identify trustworthy sellers and avoid common pitfalls.
Table of Contents
Best Places to Buy Gold Locally
1. Gold Bullion Dealers
As we will discuss with the key factors below, purchasing gold from a trusted dealer is invariably the best option. A reliable bullion dealer will offer multiple types of gold products including bars, bullion coins, and numismatic coins.
American Gold Eagle coins, Canadian Maple Leafs, and other popular bullion should be readily available in a trusted gold bullion seller's inventory.
- Multiple gold product types available
- Flexible payment options (credit card, checks, wire transfers)
- Both online and in-person ordering
- Physical delivery or pickup options
- Optional secure storage services
2. Coin Shows
Periodically, a large number of coin dealers gather for coin shows or conventions. These events occur locally on a regular basis or as larger regional/national events at hotels or convention centers.
Each dealer reserves a vendor booth where they display various coins for sale. Buyers can browse freely and visit many different dealers, potentially finding good deals on gold coins.
- Multiple dealers in one location
- Opportunity to compare prices
- Face-to-face interaction with dealers
- Potential for finding unique items
3. Pawn Shops
Your local pawn shop can be an excellent place to find reasonable deals on gold bullion. Virtually every pawnbroker is familiar with buying and selling precious metals due to the nature of the pawn business.
However, there are caveats: pawn shop owners might not be as knowledgeable about the gold market as specialized bullion dealers, and you may primarily find gold jewelry rather than investment-grade bullion.
- Potentially good deals available
- Local accessibility
- Immediate availability
- Cash transactions possible
Important Note About Coin Shows
The main drawback of coin conventions is that they are much more focused on collectible coins. You may or may not find good offers for gold without paying a hefty premium for collectible gold coins rather than investment-grade bullion.
4 Factors to Consider to Find the Best Gold Dealer
Next, let's look at some of the important factors you should consider when looking for the best gold dealer to purchase gold from.
1. Product Selection
One of the most important factors to consider when choosing a gold dealer is making sure they offer what you're looking for. It makes no sense to choose a place to buy gold that doesn't sell the type of gold products you want.
Coins, Bars, and Rounds
There is a wide selection of investment gold products available, including physical gold coins, rounds, and bars. Gold jewelry usually doesn't qualify as "investment grade," and fine jewelry is not eligible for your self-directed IRA.
Product Variety
- Different styles of gold bars
- Gold rounds with various themes
- Gold coins from multiple nations
- Newly minted and older foreign coins
Size Options
- 1 oz to 10+ ounces standard sizes
- Fractional sizes less than 1 troy ounce
- Budget-appropriate options
- Bulk purchasing opportunities
Trusted Brands
- Royal Canadian Mint
- Austrian Mint
- Perth Mint (Australia)
- PAMP Suisse bars
If you plan to include metals in your Gold IRA, be sure to choose IRA-eligible gold coins or bars that qualify as IRA-approved gold. Look for dealers who maintain substantial inventory of popular products, as this is often where the best deals can be found.
2. Prices and Deals
Pricing is just about everything when it comes to deciding who to buy from. But one of the big problems investors often encounter is in their efforts to buy gold at unrealistically low prices.
Avoid "Too Good to Be True" Deals
If your search for a gold dealer leads you to a too-good-to-be-true deal from a seller who wants to meet you in a parking lot for a cash transaction, run as quickly as possible. This type of scam happens every day, and it's astounding how many people fall victim to save a few dollars.
Prevent headaches by buying gold the right way, for the right price, from the right dealer. Become familiar with current gold prices (the gold spot price) and market values for the gold bars, rounds, and coins you're considering.
- Research current spot prices before buying
- Understand typical premiums for different products
- Compare prices across multiple dealers
- Beware of prices significantly below market rates
- Look for transparent pricing structures
Key Takeaway
Don't blindly buy cheap gold—especially with "free shipping" offers that seem too good to be true. Buy fairly priced gold from a reputable dealer! The same principle applies to silver coins, silver bars, and silver rounds, as well as platinum products.
3. Professional Reputation
What does it mean to be a reputable gold dealer? Sure, one of the main criteria is not tricking customers with fake gold, stolen goods, or inflated prices. But it's much more than that.
Being a reputable dealer means serving the public with trust, ethics, and integrity. It means selling quality gold products, standing by pledges to offer authentic products, guaranteeing metal content, and selling at fair prices.
What to Look For
- Fair return policy clearly stated
- Complete contact information listed
- Easy accessibility for inquiries
- Transparent business practices
Industry Connections
- National Coin & Bullion Association affiliation
- Professional Coin Grading Service connections
- Numismatic Guaranty Corporation relationships
- Other professional certifications
Customer Feedback
- Read customer reviews and testimonials
- Check Better Business Bureau ratings
- Review frequently asked questions
- Look for consistent positive feedback
4. Quality of Service
It's all well and good to buy gold coins, rounds, and bars at a fair price from a reputable dealer. But there's another part of the equation that often goes overlooked: customer service.
Some bullion dealers are simply exceptional. They're there to inform new buyers, update longtime customers about new products, and stand ready to answer questions and respond to inquiries promptly.
Service Excellence Indicators
The best place to buy gold is from a dealer who hires experts willing to answer your questions, educate you on options, and provide professional courtesy by responding to calls and emails quickly while promptly fulfilling orders. The best dealers treat you like the valued customer you are.
Then there are less customer-focused dealers who may offer little more than terse replies to questions beyond "how much does this cost?" When it comes down to it, don't you want to work with a reliable gold dealer who offers fair deals and exceptional service?
- Knowledgeable staff ready to educate customers
- Quick response times for inquiries
- Professional courtesy in all interactions
- Prompt order fulfillment and shipping
- Available support throughout the buying process
Other Options for Buying Gold
Gold Derivatives
Some investors may choose "paper gold"—gold derivatives like gold futures and gold ETFs. This category also includes gold stocks (mining company shares) and gold mutual funds.
Advantages:
- No storage concerns
- High liquidity—easy to sell
- Convenient online trading
- Lower transaction costs
Drawbacks:
- Difficult to receive physical delivery
- Investments settled in cash
- Counterparty risk involved
- Doesn't provide actual gold ownership
Auction Websites
You might consider online auction sites as convenient places to buy gold bullion online, but buyer beware.
Potential Problems:
- Extra fees and higher final prices
- Difficulty returning purchases
- Challenges selling back your gold
- Authentication concerns
- Limited buyer protections
This option should usually be reserved for rare collectibles such as semi-numismatic or numismatic products, not investment-grade bullion.
Physical vs. Paper Gold
If your goal is to own physical gold for wealth preservation or portfolio diversification, paper gold derivatives defeat the purpose. While ETFs and futures are popular, they're more akin to trading the stock market than owning tangible assets.
Making Your Decision
Remember, owning physical gold is a safe haven for your money. That's why the Federal Reserve still holds over 8,000 metric tons of precious metal, mostly in the form of gold bullion bars.
Your Next Steps
If you're ready to start buying gold at the best prices, focus on finding a reputable dealer who offers competitive pricing, excellent service, and the product selection that matches your investment goals. Whether you're interested in gold bullion, silver investments, or other precious metals, take time to research dealers thoroughly.
Stay informed about market conditions by monitoring current gold prices and understanding how spot prices affect the premiums you'll pay. With the right knowledge and a trusted dealer relationship, you'll be well-positioned to build a successful precious metals portfolio.
Final Recommendations
- Start with a reputable, established bullion dealer
- Compare prices and premiums across multiple sources
- Verify dealer credentials and industry affiliations
- Read customer reviews and testimonials
- Understand all costs including shipping and insurance
- Choose appropriate storage solutions for your needs
- Build relationships with trusted dealers for future transactions