Can you buy gold bullion from a bank?

Interested in investing in some gold. This metal has been a tried and true investment asset good at storing wealth and guarding against the adverse effects of inflation for many year. Individuals who decide to invest in precious metals are often unsure of the best place to acquire their gold. A lot of banks buy gold bullion as a financial hedge but can an individual buy gold bullion from a bank?

Many individuals who are contemplating gold investments feel unsure about the best way to acquire gold, and banks sound like they would be a reputable source of gold bullion but it is extremely rare to find banks that sell bullion bars to customers. 

It might be reassuring for an individual to walk into a bank they trust and buy gold bullion if they need to. Because it’s a bank, it is held up to higher standards and by extension, it would sell the best gold bullion products in order to build and maintain its reputation. Unfortunately, the reality is that most banks do not sell gold bullion. Those that do often sell gold coins and offer no other forms of bullion like gold bars. Your bank might not sell gold bullion but it might provide a safety deposit box to keep your bullion safe. 

There was a time when banks sold gold bullion. Before governments stopped using the gold standard in 1933, most banks held actual gold bars to exchange for currency in their vaults. The U.S led the move away from gold and actually made it illegal for anyone to own gold directly. Banks stopped buying or selling gold bullion. To this day, banks do not sell gold bullion but you might find some big or overseas banks that do. 

Banks that do sell gold bullion might require you to have an account with them. They may need certain documentations and assurances. Many will impose additional fees when you buy gold bullion from them which might raise your overall bill. Banks that sell gold might not keep any bullion on hand this means you may need to order and wait for the gold to be delivered.

Whilst buying gold bullion from a bank may prove to be challenging, there are still a lot of people who actively seek a bank that will sell gold bullion  to them. Banks that do offer the following benefits: 

  • Limited risk
  • Authentication of the quality of gold

When you do find a bank that will sell gold bullion to you determine the value and weigh the price against the extra expenses and the inconvenience or convenience of dealing with a bank than buying from a gold dealer.

You will find that there are other better and more convenient ways to buy gold bullion. You can compare these options:


A lot of refineries sell gold to the government mints. They produce more than just legal tender gold bullion coins. Mints also produce commemorative coins and gold medals. Gold products made by government mints are supplied with verification documents.

Gold Dealer

You can reach out to the many gold dealers who buy and sell gold to the public. Gold dealers offer a variety of gold products from gold bullion bars and coins or silver bullion bars and coins. Gold dealers source their gold from mints and many refineries. Gold dealers can be found everywhere even on the internet. Gold dealers prefer to be paid in cash but generally accept credit and debit cards which means you can buy your bullion without even needing to leave the house in the event you want it delivered. 

Banks come in handy for individuals when the need a place to store their gold. An an individual you can ensure the safety and security of your valuable gold by renting out a safety deposit. Every gold investor needs to have a secure place to keep their gold. The safe you buy for your home might not be enough, some people even argue that having a home safe with thousands of dollars worth of gold is not a clever thing to do. If your home should be invaded by thieves, they will try to get into your safe. This is why you should include it in you home-owner’s insurance. If your house is hit by some sort of disaster like a fire, a hurricane or Tsunami, you could lose everything including your precious bullion. Again, you still will have to incur extra insurance costs when you include your gold in a home-owner’s insurance policy that is supposed to cover your home and its contents. So an off-site secondary secure storage space like a bank is a good idea for keeping your gold bullion safe. 

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