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.

How to spot fake gold coins

How to avoid buying fake coins.

gold krugerrand coin

It isn’t actually that easy to fake a gold coin so at the moment they are relatively rare. One trick is to take make a gold coin and then artificially age it to try to fake a rare gold coin. This should be spotted by an expert though.

If you are worried, there are a few simple ways of testing that a gold coin is the genuine article.

The first and easiest way to check a gold coin is genuine is by its weight. Gold is a very heavy metal and if the gold has been mixed with other metals then the coin will weigh less than it should. There are only two metals that come close to the weight of gold. The first is platinum which is very expensive so there would be no advantage to swapping it with Gold. The second is tungsten which is too brittle to use in fake coins. If you buy some scales which are accurate to 1/100g then you can weigh the gold coin to check its weight. You can get a list of all the correct weights of gold coins on the internet.

The second thing to check is size. The width or diameter of real gold coins are available online. If your gold coin has other metals mixed with the gold it might be thicker than it should be.

Another way to check the weight and size of a gold coin is to buy a specialist tool such as the Fisch. This tool checks gold coins based on their weight, diameter, thickness and shape. Coins have to meet all four criteria to pass. A cheaper method is the ‘Gold Coin Balance’. To put it simply, if the balance tips, the weight is wrong and the coin is a fake.

One thing you should always do is to buy your gold coins from a dealer you trust. Do your research before you buy ! If you are buying in the UK have a look at the London Mint Office. Another option for the UK and many other countries is Gold Direct.

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.

GOLD TRADERS BULLISH

Dec. 9 (Bloomberg) — Gold traders are more bullish as investors buy metal at the fastest pace in a year to protect their wealth from Europe’s escalating debt crisis.

Eighteen of 26 surveyed by Bloomberg expect the metal to advance next week, the highest proportion since Nov. 11. Holdings in exchange-traded products backed by gold rose 108.6 metric tons to a record from the start of October, the most since the second quarter of 2010, data compiled by Bloomberg show. The extra bullion is valued at $5.99 billion.

by Bloomberg expect the metal to advance next week, the highest proportion since Nov. 11. Holdings in exchange-traded products backed by gold rose 108.6 metric tons to a record from the start of October, the most since the second quarter of 2010, data compiled by Bloomberg show. The extra bullion is valued at $5.99 billion.

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