Where Can I Buy Gold Online

Where can I buy gold online ? – There are quite a few online gold dealers available to customers from both the UK and worldwide. Before you choose where to buy gold online you need to ask yourself a couple of questions first :

Do you want to buy gold bars or gold coins online ?

Do you want your gold bars or gold coins to be delivered to you or do you want your gold bars or gold coins to be stored on your behalf ?

We have listed some of the top brokers where you can buy gold online and given a brief summary of what services they offer. The aim of this article is to give you a short list of sites where you can buy gold online. This will hopefully make your choice easier.

 

Type of Gold Sold Commission Smallest Investment Storage/Delivery
BULLIONVAULT

(Read our Review)

Allocated Gold Bars 0.8% (less for amounts over £21,000) 1g of Gold Storage in secure vaults. Delivery available at a cost.
GOLDMONEY

(Read our review)

Allocated Gold Bars From 2.49% for purchases up to $9,999 to 0.98% for purchases greater than $1,000,000 1g of Gold Storage in secure vaults. Delivery available in units of 100 gram and 1 kilo bars.
GOLD DIRECT Gold Bars and Gold coins Prices are all inclusive – see website 1g Gold Bar

Delivery to EU citizens for €32.50

LONDON MINT OFFICE Gold Coins – aimed at collectors Coins and coin sets priced individually One coin UK delivery
 GOLDCORE Gold Bars and Gold Coins Varies but over 3% on a 1kg bar of Gold 1oz Gold Bar or Coin Storage in secure vaults. Delivery also available.
BULLION BY POST Gold Bars and Gold Coins Varies by product 1g Gold Bar Free Delivery – UK and CI only

This list of where to buy gold online is by no means comprehensive but should give you a good starting point. It is aimed at the UK investor but some of the larger companies listed such as Bullionvault or GoldMoney will cater for clients worldwide. There are other online gold dealers out there but the ones above are some of the most popular. Which one you choose will depend on whether you want to buy gold bullion or gold coins. The other main choice to make will be whether you want your gold stored for you or whether you want to take delivery of your gold. We hope that your question of ‘where can I buy gold online’ has been answered !

 

Comparison of Bullionvault v Goldmoney

 

BULLIONVAULT V GOLDMONEY

Once you have decided to buy gold bullion online, you then need to decide which gold bullion company to buy your gold from. Two of the main contenders for buying gold bullion online are Bullionvault and Goldmoney. Both of these companies allow you to buy gold which is allocated to you and can be stored on your behalf. Basically each company acts as a broker buy you own the actual gold that you buy. We have already reviewed each of these companies separately – see our Bullionvault review and Goldmoney review for more information. However, on this page we have built a table of the key features for each company. This should hopefully make it easier for you to decide which gold bullion provider is best for you.

 

BULLIONVAULT GOLDMONEY
WEBSITE BULLIONVAULT GOLDMONEY
COMPANY LOCATION Bullionvault is a UK registered company based in London GoldMoney is based in Jersey in the Channel Islands
REGULATION Bullionvault is regulated under English Law GoldMoney is regulated by the Jersey Financial Services Commission
SMALLEST INVESTMENT ALLOWED 1g of Gold 1g of Gold
GOLD STORAGE LOCATIONS LONDON, NEW YORK, ZURICH AND SINGAPORE LONDON, HONG KONG OR ZURICH
CURRENCIES ACCEPTED EUROS, POUNDS STERLING AND US DOLLARS  Australian dollars, Canadian dollars, Swiss francs, Euro, British pounds, Hong Kong dollars, Japanese yen, New Zealand dollars and US dollars 
COMMISSION 0.8% (less for amounts over £21,000) from 2.49% for purchases with a value up to $9,999 to 0.98% for purchases with a value greater than $1,000,000
ANNUAL CUSTODY & INSURANCE  0.12% (min. £2.75 per month)  0.015% monthly or 0.18% annually for holdings up to 49,999g and 0.0125% monthly or 0.15% annually for holdings of 50,000g or above 
CAN YOU TAKE DELIVERY OF YOUR GOLD Yes but the standard cost is 2.5% for withdrawing whole gold bars, and there is a 5% surcharge for withdrawals below 400 oz Yes, in units of 100 gram or one kilo bars
AUDITS  DAILY AND ANNUAL  QUARTERLY 
WEBSITE BULLIONVAULT GOLDMONEY

We hope our comparison of Bullionvault v GoldMoney has been helpful. Don’t forget to read our reviews for more information on each company.

BULLION VAULT REVIEW

Before you invest in Bullionvault you will want to make sure that your money will be safe and that there is no scam involved. We can hopefully put your mind at rest and give you confidence that Bullionvault is a reputable company and worth further investigation. You can read our complete Bullionvault review here. Don’t forget that Bullionvault offer all new investors 4g of Silver completely free when they register. To find out how to claim your 4 grams of free silver click here. If you want to compare Bullionvault with GoldMoney then read our Bullionvault Goldmoney comparison post here.

A Guide To VAT, Capital Gains Tax and Gold

A Guide To VAT, Capital Gains Tax and Gold For the UK Investor

VAT AND GOLD

The Good News is that there is no VAT (Value added Tax) payable on investment Gold. So the next obvious question is ‘What is investment gold?’

Investment gold is classified by HMRC as:

1. Gold bullion which
(a) Has a purity of no less than 995 thousandths
(b) Is in the form of a bar or wafer
(c) Is of a weight accepted by the bullion markets

2. Gold coins minted after 1800 that:
(a) Have a purity of not less than 900 thousandths
(b) Are or used to be legal tender in their country of origin
(c) Is of a description of coin that is normally sold at a price that does not exceed 180% of the open market value of the gold contained in the coin

3. An investment gold coin as specified by HMRC (Notice 701/21A Investment gold coins). HM Revenue and Customs has produced a comprehensive list of all the coins which they consider to be investment gold coins and are therefore exempt from VAT. Click here  for the complete list.

The information above might sound a little complicated but what is basically means is that any gold bullion or gold coins you buy in the UK or EU for investment purposes is completely VAT free.

 

CAPITAL GAINS TAX AND GOLD

Capital Gains Tax (CGT) is usually paid on the profit of something that you sell. Most assets are liable to CGT when you sell them and gold is no different. The only exception as far as we can tell is that capital gains tax is not liable on British legal currency. This means that there is no CGT payable on Gold Britannia coins, British Gold Sovereigns or Gold one, two or five pound coins.

 

How To Buy Gold

HOW TO BUY GOLD: Traditionally, gold is considered to be a safe haven investment, particularly when there is an economic  crisis such as we are experiencing now. The economic outlook around the world appears to be getting worse and as the problems continue, more and more ordinary people are thinking about investing some of their savings in gold. This is because gold has an intrinsic value unlike paper money which only has value because a government says it does. The paper itself is not worth anything whereas gold is always going to be worth something.

How can I buy gold?

There are several ways you can actually buy gold. Gold comes in many forms including gold bullion (gold bars), gold coins or even gold jewellery.

How to buy gold bullion bars

One increasingly popular method of investing in gold is to buy gold bullion or bars of gold. This can now be done online and you can also buy a fraction of a bar of gold. Read our Gold Bullion guide for more information on how and where to buy gold bullion.

How to buy gold coins

Gold coins are a very popular way of buying gold and you don’t need a large amount of money to start with. Only buy gold coins from dealers you trust. This is to ensure the coins you are buying are not fake coins and are made with pure gold. There are lots of gold coins to choose from including but not limited to the South African Krugerrand, British Gold Sovereigns, The American Eagle and The Canadian Mapleleaf.  You only want to pay for the gold content of the coin and should avoid paying a larger premium because it is a rare coin or comes in a special case. For more information read our guide on how to buy gold coins.

How to buy gold jewellery

Gold Jewellery is not normally a good investment because jewellers will charge a large premium for the design and brand. You could however, buy gold jewellery from second hand shops or antique dealers. Make sure that you are only paying for the gold value of the jewellery and there is no premium on the price because of the history of the piece or who made it. You should only buy gold like this from a dealer you trust to ensure you are getting what you pay for.  You can expect to pay a small premium over the gold value which is the dealers profit from the sale. There are kits available to purchase which will test the quality of the gold you are buying.