How To Buy Gold Online: Where and How To Buy

Have you ever considered investing in gold?

Referred to often as the “yellow metal,” gold is one of the most coveted substances in the world, with a value that transcends generations.

Owning gold is an excellent way to diversify your investment portfolio and hedge against inflation. If you’re looking for the easiest, most reliable way to add gold to your investment portfolio, you may want to consider buying it online.

Read on to learn everything you need to know about how to purchase gold online.

The Benefits of Owning Physical Gold

If you’re looking to make your money work for you, you need to invest in commodities that increase in value at higher rates than inflation. Gold is a relatively safe investment that can hedge against inflation and lower your portfolio’s risk.

Here are a few benefits of owning physical gold:

Inflation Hedge

Each year, inflation causes the value of the dollar to decrease slightly. As a result, simply keeping money in a savings account can lower the purchasing power of your savings, causing your money to essentially drop in value over time.

However, gold is a hedge against inflation. This commodity has a stable purchasing power over time. When the value of the dollar decreases, you would need to pay more money to purchase the same amount of gold, showcasing the value of owning physical gold long-term.

Privacy

When you invest in stocks and other products through the stock market, you cannot always feel confident that your investments are private. However, no one should need to know what you invest in besides yourself and your wealth management advisor, if you have one.

When you purchase physical gold, you can keep the transaction private. No financial institutions or government bodies need to know about your investment decision.

Liquidity

While buying gold doesn’t initially produce cash flow, gold is a liquid asset you can sell whenever you need to. As a result, owning gold ensures that you always have something valuable on hand to liquidate if necessary.

Universality

Unlike national currencies, gold has value and is exchangeable in almost every country across the U.S. This currency has a universal nature that gives it versatility within the global investment market.

Growth Potential

Gold is a limited resource that cannot be printed on a machine like paper money and traditional coins. As a result, gold has significant growth potential compared to paper currencies.

Portfolio Diversification

Many people purchase gold to diversify their investment portfolios. Portfolio diversification can protect you against stock market crashes.

If you have all of your money in a single type of investment, and that investment crashes, you risk losing your money. However, investing in stocks, bonds, and gold can protect you against a stock market crash.

Simplicity

Investing is a complex topic that intimidates many people. However, even the newest investors can understand the concept of investing in gold. You can quickly and easily purchase gold bullion, coins, or bars from in-person or online dealers. Then, you simply need to store the gold in a secure location until you’re ready to sell it.

Why Buy Gold Online?

gold coins on top of gold bars

There are two primary methods to purchase physical gold: online or in stores. However, buying your gold online offers several advantages.

Here are a few reasons to buy gold online:

Selection

Purchasing gold bars or gold bullion through an online dealer gives you access to a broader selection, allowing you total control over your purchase. For example, at Oxford Gold Group, we sell a range of collectible gold coins and bars made from pure gold bullion.

Safety

Purchasing gold from a reputable dealer online is often safer than attempting to find a trustworthy in-person dealer.

Online dealers display their certifications and affiliations clearly on their websites. As a result, you can easily review their authenticity and gold industry reputations before purchasing any gold products.

Additionally, online dealers typically follow reputable, safe processes when delivering the gold to your home. They often back up their purchases with guarantees as well, creating no doubt that you will receive your gold bullion product.

In contrast, when you buy gold bars through a small, local dealer, you may not be able to trust that the gold is authentic and pure.

Convenience

Buying any product online is simply more convenient than shopping for it in person. The same is true for gold.

When you buy gold bullion online, you can browse the selection from anywhere, then ship your purchase directly to your house. You do not need to spend time traveling from gold dealer to gold dealer to find the type of gold product you want to purchase. Instead, you can complete the entire process in one sitting without leaving your home.

Lack of Taxation

Typically, when you buy physical gold in person, you must pay sales tax on top of the sale price. However, buying gold online can sometimes allow you to circumvent the taxation rate. For example, you can consider purchasing from an online dealer in a state that does not have sales tax.

Buying Different Types Of Gold Products Online

Most online gold dealers sell gold bullion in the form of coins and bars. Here is more information about the types of gold products you can purchase online.

Gold Bullion

Gold bullion is a form of currency that is at least 99.5% pure gold. This term can refer to gold coins and gold bars. However, it typically only refers to generic forms of gold rather than gold jewelry or functional gold items.

At Oxford Gold Group, we sell two different types of gold bullion: gold bars and gold coins.

Gold Bars

Gold bars are popular gold products for investors. These products are ideal for high-volume investments, as they are easy to stack and store in small areas.

You can find numerous gold bar sizes and varieties. However, the three main types of gold bars are cast, minted ingots, and CombiBars.

While the United States Mint does not produce gold bullion bars, several other mints do, such as the Royal Canadian Mint and the Perth Mint. You can also find gold bullion bars for sale from private mints.

Minted Gold Coins

Gold coins are typically backed by central banks and the federal government. Gold bullion coin mints issue these coins, allowing you to feel confident in their authenticity.

You can find an extensive range of gold coins for sale online. For instance, gold bullion coins are at least 99.5% gold and are priced based on gold’s spot price. Meanwhile, collectible gold coins have value outside of gold’s spot price due to their artistic merit.

A few of the most popular gold coins and numismatic coins include:

  • Canadian gold maple leaf
  • American gold eagle
  • Australian gold nugget
  • Gold krugerrand
  • Gold philharmonic
  • Perth Mint Australian spotted eagle ray

Many gold coins have a face value issued by a national bank in that nation’s currency, such as the pound sterling, Australian dollars, or U.S. dollars.

Other Types Of Gold Products

different gold jewelries in black background

While gold bullion coins and bars are the most common gold products for investors, you can find a range of other products that have value because of their gold content.

Gold Jewelry

Gold jewelry is a gold product that offers exceptional value and aesthetic appeal. You can find several types of gold jewelry products on the market:

  • White gold: Gold alloy mixed with white metals
  • Yellow gold: Pure gold mixed with alloy metals
  • Rose gold: Pure gold mixed with copper alloy

The gold in jewelry is typically not as pure as gold bullion bars or coins. However, it often contains other precious metals and gems that could increase the overall value of the jewelry piece.

Gold Rounds

Gold rounds are small gold products that resemble gold coins. However, while gold coins are minted by sovereign governments, such as the Royal Canadian Mint, gold rounds are minted by private mints.

Gold rounds have no face value other than their gold content. These products are essentially smaller versions of gold bars, making them suitable for gold buyers with smaller budgets. You can typically buy rounds in 1/2-ounce, 1-ounce, and 5-ounce varieties.

Gold Futures

If you want to diversify your investment portfolio without purchasing physical gold, you can consider investing in gold futures. Gold futures are exchange-traded contracts in which investors speculate on the future price of gold.

In these contracts, gold buyers agree to purchase a specific amount of gold for a specified price on a predetermined date. Ideally, they hope that the value of gold will increase by the purchase date, allowing them to turn around and sell the gold for higher than they paid.

With these contracts, you do not need to hold physical gold to make a profit. However, investing in gold futures is best left to experts. If you’re new to the overall stock market, you may feel more comfortable investing in physical gold.

Gold Mining Stocks

Some investors also invest in the companies that mine gold. As a result, they buy shares of the gold mining company instead of the gold itself.

This process can be lucrative if you know what you’re doing. However, the value of gold mining stocks can fluctuate considerably and doesn’t always match the price of gold.

Gold Mutual Funds

Gold investors can also invest in gold-related mutual funds. These gold funds can track the price of gold, allowing them to be more profitable when gold prices are high. They also offer a hands-free alternative to purchasing physical gold.

You can find many gold mutual funds in the stock market, but one of the most popular is iShares Gold Trust.

What Are The Best Selling Gold Products?

Some gold bouillon coins and bars are more popular than others. Here are a few of the most popular gold coins:

Many U.S.-based investors and collectors like to purchase the American gold eagle coin, as it’s considered the official gold bullion coin of the U.S.

Gold bullion bars, in general, are also popular gold products. These products are prevalent amongst gold investors with minimal storage space and high investment funds.

Is It Safe?

key to a vault

Buying gold online can be even safer than purchasing it in person. However, choosing reputable gold dealers is essential to conducting a secure, reliable transaction.

The best gold dealers use SSL encryption to protect their customers’ financial information in each transaction. They also insure their shipments for their full value, allowing you to get your money back if your gold delivery never makes it to your house.

In contrast, purchasing gold through an untrustworthy in-person dealer can often create the risk of losing your investment money. If a dealer sells you a counterfeit gold bar, you may not have any way to get your money back. You also won’t have digital evidence of your transaction.

If you’re unsure of a gold dealer’s safety precautions, you can talk to your advisor directly. However, you can feel confident using our safe transaction methods on Oxford Gold Group.

How Does Buying Gold Online Work

Buying gold online is a simple, effective way to purchase gold investments. At Oxford Gold Group, we make purchasing investment-quality gold bars and coins as straightforward and hassle-free as possible.

Here’s how you can purchase physical gold online with Oxford Gold Group.

Speak With a Representative

First, fill out our online form or give us a call to speak with an Oxford Gold Group partner. This expert will walk you through the different classes of gold investments we offer. If you’re looking to stick to a specific budget or meet an investment goal, your Oxford Gold Group partner can help you choose the right product for your needs.

Choose Your Gold Products

Next, you can choose the gold and other precious metals you’d like to purchase. Once you decide on gold products, your Oxford Gold Group partner will lock in the current gold spot price for you.

Fund Your Account

You can purchase gold products through Oxford Gold Group by funding your account, then using those funds to buy the gold. Your partner will discuss the available funding options with you.

Wait For Your Gold Delivery

Finally, you can wait for your gold purchase to arrive in the mail. We will prepare, pack, and ship the gold using the most reliable shipment methods in the industry.

Once we ship your package, we will provide you with tracking information. You can also rest assured that your delivery person will hand you the package rather than leaving it at your front door.

You can expect to receive your gold bars, coins, or bullion within five days of your purchase.

Shipping Costs

When you purchase gold online, the gold dealer will ship it to your house. Some gold dealers charge for shipping, while others incorporate shipping costs into your membership fees.

When you buy gold bars, gold coins, or gold bullion through Oxford Gold Group, you can take advantage of free shipping.

Gold Storage Options

safety deposit lockers of a bank

When you purchase physical gold, you need to consider where to store it. Storing your gold in an unsafe location, such as your basement, could make it vulnerable to theft. However, you also need to keep gold in the correct environment to preserve it.

Here are a few ways to store gold bullion products:

Safe Deposit Box

Most U.S. banks allow their customers to rent safe deposit boxes. These boxes are incredibly secure, as financial institutions use sound security measures to prevent unauthorized individuals from opening them. You can obtain a personalized key to your safe deposit box, and the bank will only let you in after you show identification.

However, safe deposit boxes have a few drawbacks. First, your access to the gold is limited to the bank’s hours. If you decide to sell your gold on a whim, you’ll need to wait until the next business day to access it.

Additionally, banks do not insure the items in safe deposit boxes. You can purchase insurance for your gold coins and bars, but private insurance can be costly.

Vault Storage

If you have a lot of gold on hand or are planning to convert a decent amount of your savings into gold bullion, you can consider using a depository or vault storage.

Precious metals depositories are third-party facilities that provide secure storage of precious metal bullion. These facilities typically have round-the-clock high-level security to ensure continual protection of the precious metals inside.

Depositories typically take stock of their inventory regularly and send detailed reports to customers, allowing you to trust that your gold storage has not changed since your deposit. Additionally, nearly all depositories insure the precious metal products in their storage facilities, protecting your gold bullion against theft, damage, and loss.

However, vault storage also has its downside. First, you’ll need to pay maintenance fees to store your gold bullion coins and bars in these facilities. These fees typically depend on the amount of gold you store, costing upwards of $700 per year.

Gold depositories also give you limited access to your gold products. You can only access your gold during the depository’s hours.

At-Home Safe

If you only have a small amount of gold, you can consider storing it in a private safe in your home. At-home safes can keep your gold secure while giving you easy access to it. They also keep your gold out of sight, which could deter thieves from finding it.

However, at-home safes are less secure than vault depositories or bank safe deposit boxes. You cannot monitor your at-home gold storage at all times. Additionally, thieves may be tempted to steal your entire safe, as they can assume it holds valuable items.

You’ll also need to insure your gold yourself if you store it at home.

Hidden Places

If all else fails, you can consider storing your gold in a hidden location. For example, some people bury their gold bars in their yards, others keep them in the freezer, and some hide them in boxes in the basement.

While storing your gold in hidden places could protect it from theft, it may expose it to dangerous elements that threaten the gold’s integrity. Additionally, you can’t always feel confident in your gold’s security when you hide it.

Can You Also Sell Your Gold Online?

Selling your gold for more than you paid for it is the ideal way to maximize your physical gold investment. As a result, you’ll want to choose a reputable buyer willing to give you close to the spot gold prices.

Most buyers will not offer you the exact spot price of gold, as they need to profit from the sale. However, selling gold online will typically get you a better price than you could get at an in-person dealer. Online gold-buying businesses are more affordable to run than brick-and-mortar dealers, allowing them to cut their fees.

Do You Need To Pay Taxes When Buying Gold Online?

wooden blocks with tax written on it on top of gold coins

You will typically need to pay at least some taxes when buying gold bullion online. However, the exact tax rate you’ll need to pay depends on your location and the online dealer’s location.

A few states across the U.S. do not charge sales tax on online gold purchases, including:

  • Oregon
  • Alaska
  • Delaware
  • New Hampshire
  • Montana

If you order gold from one of these states, you may not need to pay sales tax. Additionally, some states have exemptions on sales tax, such as if your purchase total falls below a minimum amount.

However, like many investments, gold is subject to capital gains taxes. When you sell your gold, you may need to pay tax on the profit you make.

Talking with a wealth management advisor can help you minimize your tax rate on your gold purchase.

Other Ways To Buy Physical Gold

Online dealers are not the only ones who sell gold. You can also consider purchasing gold from an in-person dealer or an individual. However, these methods have both benefits and drawbacks.

In-Person Dealers

You can buy gold bullion from an in-person gold dealer in your area. While some businesses exclusively sell gold, many sell a range of precious metals and high-value items. Some specialize in rare and collectible bullion coins as well.

Purchasing from an in-person dealer can allow you to view your options up close before buying them. Many in-person dealers also have certificates showing that their gold products are pure gold bullion.

However, in-person dealers typically do not have as broad of a selection as online dealers. Additionally, some in-person dealers may not be reliable, and you cannot always know for sure that a gold coin or bar is authentic without taking it to a professional appraiser.

Individuals

You may also be able to find individuals in your area who sell gold. These people may be gold coin collectors or simply investors like you who are ready to liquidate their gold products.

Buying from an individual may allow you to score a good deal on a gold coin or another gold product. However, this process can easily lead to scams. You should never buy from an individual unless you are 100% sure their gold is real.

How Can I Buy Gold From Bank Online?

A limited number of banks across the U.S. sell gold. Typically, you can only find a small number of gold coins for sale through banks. Most banks also only sell their gold products in person rather than online.

If you’re interested in buying gold from a bank, be sure to contact the bank in advance to learn about its inventory and purchasing processes. You may find it easier to purchase your gold from an online dealer like Oxford Gold Group instead.

Tips When Buying Gold Online

doing gold product research in oxford gold group website

If you’ve never purchased gold online, you may have a few questions or be unsure of the process. Thankfully, the best gold dealers make buying physical gold easy and stress-free. However, here are a few tips that can help you have the best experience buying gold online:

Spend Time Reviewing Your Options

Numerous gold products are available online, including gold bullion coins, collectibles, bars, jewelry, and more. Before you begin the process of purchasing gold, we recommend reviewing your options and narrowing down a few products you’re interested in purchasing.

You should also spend time considering your budget. Typically, when investing in gold, you only want to spend money that you will not need access to for many years. Different gold products have different values, and your budget can impact what you decide to purchase.

Plan Storage In Advance

You should determine where you will store your gold bars or coins before purchasing them. Then, as soon as you receive your gold delivery, you can move it to the secure storage location.

If you’re unsure where to store it, you can ask the gold dealer if they have any storage facilities they recommend to customers. However, you may find it cheaper and easier to store your gold in a vault near you.

Talk to a Gold Partner

If you’ve never bought gold online before, you should make sure to understand your options entirely before making a purchase.

The best online gold dealers will match you with an advisor or partner who can help you choose the right gold content and product. While most gold dealers do not offer advisory or brokerage services, they can help you select a gold product that falls within your budget.

Other Precious Metals You Can Buy Online

Many gold dealers also sell other precious metals. At Oxford Gold Group, we also sell silver, platinum, and palladium bullions. However, you can also purchase the following precious metals through other dealers:

  • Rhodium
  • Copper

Cheapest Way To Buy Gold Online

If you have a limited budget, you may be tempted to purchase gold from the cheapest online dealer you can find. However, low-price dealers are not always trustworthy.

These dealers can keep their prices low for a reason. While some may be authentic, many sell impure gold products that look like gold bullion but are not worth nearly as much. When you buy gold from these untrustworthy dealers, you end up wasting your money on a low-value product.

Instead, the cheapest way to purchase gold online is to work with a reputable online dealer that knows how to work with your budget. At Oxford Gold Group, our gold partners would be happy to help you choose the right gold product for your needs. We offer gold products in several price ranges, allowing you to choose one that falls within your budget.

Can You Pay Using Cryptocurrencies?

gold coins with the symbol of bitcoin written on them

Some online gold dealers allow consumers to purchase their gold products with cryptocurrencies. Instead of funding their accounts with a bank account or credit card, they load the cryptocurrency into the site to use as currency.

However, we highly recommend paying for gold products with actual currency if you can. Because the values of cryptocurrencies fluctuate regularly, you may lose money when you decide to sell the gold that you paid for with crypto.

Purchasing gold with cash allows you to understand the exact value you poured into the investment, which can help you determine when to sell it.

Choosing To Get A Gold IRA

A gold IRA is another reliable way of investing in gold products. Gold IRAs are self-directed retirement accounts that invest in gold, silver, and other precious metals.

Getting a Gold IRA can give you many of the same benefits of investing in gold: hedging against inflation and diversifying your portfolio. You can also fund an existing IRA or 401(k) account with gold.

At Oxford Gold Group, we make it easy to fund an IRA with gold. You can follow these simple steps to invest in a gold IRA:

  1. Open an account: First, start an account through our Oxford Gold Group site. An account partner will walk you through the 10-minute application and let you know when your account is complete.
  2. Transfer funds: Next, your account partner will reach out to your existing IRA custodian to roll over your retirement monies to your new gold IRA.
  3. Select metals: Once your IRA custodian has transferred your funds, you can choose the metals you’d like to hold in your self-directed IRA. Your account partner can help you identify the best metals for your account.
  4. Ship metals: Finally, Oxford Gold Group will ship your metals to the Delaware Depository Service Company, a reputable metal depository.

Once you decide to cash in your IRA, you can take physical possession of the metals and either hold onto them and pass them to your beneficiaries or liquidate them.

Altogether, purchasing gold online is an excellent way to expand your investment portfolio and keep your money working for you. Contact our Oxford Gold Group representatives today at 855-707-1904 to learn more about purchasing gold through our site.

 

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