How to Buy Physical Gold Bars?

physical gold bars

Gold is an auspicious metal. In India, gold has been in use for ages. In the Indian tradition, gold is used daily, whether it is a special occasion or not. There are many different ways to buy physical gold bars or coins or jewellery, such as chains or rings. Investing in gold has been practiced in India for a long time. If you are willing to invest in physical gold in fewer amounts, there is no other choice better than investing in gold bars. Gold coins or gold jewellery can be attractive, but gold bars are a staunch part of the industry. Everyone, including the common person, can invest in gold bars. The central banks of many countries also buy and store gold in the form of gold bars.

Why to Buy Physical Gold Bars?

In today’s ever-growing world, gold is no longer used as currency. But gold has always been a form of money, long before any known paper currency. One of the most promising facts about gold is that it can be stored as a long-term asset without the fear of its value deterioration. In comparison to gold, all other know currencies have depreciated over time.

If you buy physical gold bars, coins or jewellery, you can keep it in your possession throughout, unlike most other things you invest in. Pure and real gold cannot be destroyed using means like fire, water, or time even. The shiny precious metal is finite, tangible, and highly liquifying. Also, gold can be easily converted into cash and put to use whenever required.

Have you ever wondered where to buy physical gold bars that are pure and genuine? We have an answer for you! Read on to know more.

Where to Buy Physical Gold Bars From?

You can buy physical gold bars from a reputed dealer, one with many positive customer ratings. A buyback policy assures you that you are buying a pure gold bar. The essential thing you need to do is to buy physical gold bars from a reputed dealer. A reputable dealer can give you enough education on gold bars, help you avoid the pitfall, and help you move forward and buy the best product according to your need.

How Can One Know if They are Trading With a Reputed Gold Seller?

You can look for the things mentioned below to buy physical gold bars from trusted dealers:

Strong and Trustworthy Rating

Give preference to the one with a lot of experience. Always check for repeating customers—buyers would not come back if they encounter a bad experience. As a matter of fact, if you saw a trusted logo on the website of the dealer, never assume that the dealer is genuine since the logos can be easily copied. Search for the dealer’s company or the website on the internet. 

Search for a Dealer Who Provides you with Some Information on Gold Bars

The best tip of knowing whether you are dealing with a sales dealer or not is they will only promote his most pricy products—for instance, if they are trying to lure you away from gold bars and into rare coins, which are higher in value, evaluate them. If you feel that the dealer is not genuine, there are many more to choose from. 

Always Look for Larger Dealers

Looking for shops that have huge volumes to buy physical gold bars will be great for you since they provide you with greater flexibility. The smaller dealer might have limited products or may not be to fulfil a large order. Be sure to enquire about delivery time also. If they don’t ship in 2 to 4 days from the payment date, it is a scam too. 

Look for Dealers Who Have Buyback Policies

If the dealer refuses to purchase what you bought from them, is he even a dealer? If the dealer doesn’t have the policy, you should shop from somewhere else. Another advantage of the buyback policy is that the dealer tends to give the customers who have purchased from their shop the best resale price. Thus, it would be best if you always went for a dealer with a buyback policy. In this way, you are also assured that whenever you want to sell your bar, there is a buyer always ready.

The Dealer Accepts Multiple Payment Methods

Most dealers will accept a check or money order or cash even if you buy from a nearby shop. Online payments and credit cards come with some extra costs, although the convenience is hard to be defeated. Some of the dealers now offer PayPal, Paytm, G-pay, and other means of digital payment. Regardless of the payment method, an online dealer will not ship or process your order until the payment is cleared.

Consider Buying from Some Online Site

After identifying some reputed dealers, look for the advantages that online ordering gives vs a local shop. You can buy physical gold online as it is easy and quick and could be done at any time of day, and it also allows you to buy at the market rate at the most accurate time you want to purchase. Also, many online sellers are way less expensive than your nearby area shop even when you pay extra for the shipping because the overhead expense is generally much lower.

How to Buy Physical Gold Bars that are Genuine?

It would help if you only bought physical gold bars, which come with proper stamping and a recognized hallmark. 

With a known hallmark and appropriate stamping, you are assured of getting a good quality gold bar. Some private gold dealers do not include all this knowledge, which can mean that it isn’t a pure bar but a low-quality gold bar. You need to know the purity of your gold bar. Stamping is a must for gold bars. A reputable and pure bar should have the weight, purity, and a registration number stamped to it.

It would be best if you bought a gold bar with all the markings. With the lack of these markings, you may not know what you’re getting, and in the future, if you sell your gold, the buyer can probably demand an assay.

There is a convenient way to make sure that the gold bar has a proper stamp, and that is if you bring home gold bars with a…

Reputable hallmark: Hallmark is nothing. It just refers to the brand of the bar or the refinery or manufacturing unit that manufactured the bar. One must want to have a reputed hallmark so that you are sure of getting a good quality gold bar. This will also make sure that you face no difficulties in selling the bar someday in the future. A good hallmarked gold bar can be sold anywhere in the entire world, virtually.

What are the Advantages of Buying Gold Bars?

The main reason to buy physical gold bars is that you’ll get more quantity for your money with gold bars than gold coins. Gold bars are less costly than gold coins. The premiums are very low because gold coins have a more exquisite design, so the labour and making costs are greater. Gold Coins may look prettier, but you’ll have to pay the extra amount for that appealing look of the coins. The advantage of bars over coins is that they’re easy to store as the gold bars take up less space than the same quantity of gold coins. Gold bars, in fact, were primarily designed for easy storage. Above all these factors, purchasing gold bars does not compromise the supremacy of gold. They are still moveable, private, liquefiable, and still last forever.

How to Pick the Perfect Size of Gold Bar for Your Future Requirements?

Buying one ounce of the gold bar to cope up with your future needs as they come to buy both large and small is a good investment. If you can afford larger quantities then you must buy both large and small gold bars. 

Deciding the size of the gold bar is the primary decision you need to take when planning to make a solid investment since the gold bars come in different weights and sizes. They come in small quantities like one gram (they are also called wafers sometimes because they are so thin) and also as huge as 400 grams. It is in these huge sizes that the central banks, the exchanges, and Exchange-traded funds buy. Speaking generally, if you want a smaller premium on your head, buy a bigger bar. That is because it costs less to produce a kilogram of a gold bar than producing a one Gram gold bar. That does not mean that you should purchase the heaviest gold bar you could purchase. 

Some of the facts about gold bars are mentioned below:

  • The big gold bar doesn’t offer divisibility as compared to the smaller ones. When you plan to sell a big gold bar, you are basically liquidating a comparatively bigger investment. It is, in fact, more feasible to sell many small gold bars to get the amount of money you need in exchange for gold. 
  • At the time of selling a large bar, you may not have as many buyers interested. Let us say that you are planning to sell 100 Gram gold that many may not buy. But if you have small gold bars, you have multiple buyers who will show interest. 
  • The counterfeiting risk is lowered as the counterfeiters will prefer big gold bars over small ones because they are much more worthy. 
  • A smaller gold bar can avoid the need for you to provide an essay. The larger the gold bar it is more likely that it will need an essay for it to be sold. An essay adds some extra expenses and is inconvenient too. It will also delay your payment.

Owning some amount of gold is still a better option than not having gold at all. The premium that will come your head is higher on smaller gold bars, but they are still more affordable. This is the primary step in knowing what you need to look for when purchasing gold bars. The second thing you need to look for when you buy physical gold bars is the hallmarks and stamping.

How to Store Gold Bars?

Purchasing a gold bar may not be an issue for some but storing them is the main ordeal. While some keep their bars at home, it is not always safe, and no one has seen the future of what may happen. The best way of storing the gold bars is to keep them in bank lockers. In that way, they are safer, and you are also tension-free.

If you are a new buyer, it is suggested that you compare among three dealers at least. Be clever enough to compare the total cost of commission, credit cards or net banking, and shipping. Always keep in mind that cost is not the sole factor when purchasing gold bars online. The convenience in ordering online, faster delivery, customer support, and the buyback policies are all important to consider when you shop. Gold bars are one of the most assured forms of money. They are tangible, highly liquid, and will also protect your depository during times of financial crisis. One of the best methods for first-time buyers is to buy from two different sellers of gold bars. In that way, you have a comparison between the service, delivery time, and also the expenses. It also leaves you with two trusted sources for purchases in the future.

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What are the different sizes in which the gold bars are available to buy?

The size of the gold bars depends on how much you can afford. Gold bars start from as low as one gram and go up to a maximum of four hundred grams. You always have the option to buy even larger bars from the dealers who supply them.

Do the banks offer gold bars to their customers?

The answer is No. The banks do not offer gold bars to their customers. All banks deal majorly in gold coins, and they are less costly are more buyers are available to purchase them.

Do the gold bars also have to hallmark?

Yes, the gold bars also have to hallmark. It is an important thing to look for when purchasing gold bars to be assured that you are buying a genuine product. 

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