How to Buy Physical Gold Bars in the UK? (2024 Guide)

This article has been reviewed and updated for 2024.

Gold has a millennia-long record as a store of value and has repeatedly demonstrated that it can safeguard wealth during uncertain times. With the current economic and geopolitical uncertainties we are facing, there couldn't be a better time to buy gold bars.

Read on to find out how to buy gold bars in the UK so that you can diversify your investment portfolio and protect your wealth.

Should I buy gold bars or gold coins?

To the uninitiated gold bars may seem to be an expensive and inefficient way to invest in gold bullion, after all, you can hardly lop off a bit of gold from a bar should you need a gram or two in the future!

But, jokes aside, this is an inaccurate portrayal of gold bars. The array that is available to investors is vast and for those who wish to buy gold bullion efficiently, securely and at a low premium then gold bars are an excellent choice.

As well as the gold price and gold content, it is the premium on a gold bar that affects its price. Here at GoldCore, a dedicated gold bullion dealer, we charge a much lower premium on large bars compared to small ones.

N.B. It is always worth considering gold coins as well. For example, if your initial capital outlay is quite small then do look at our selection of gold coins. It is not worth starting with bars as small as the 1g sold by the Royal Mint. It does not represent a good investment as they have disproportionate premiums.

What size gold bar should I buy?

When you decide to buy gold using our state-of-the-art trading platform you will be presented with a number of different bars ranging in size and weight. We offer a range of gold bars because investors have different requirements.

Also read: How much does a Gold bar weigh?

All of our bars, unless stated, are of at least 99.5% purity. Our 1kg bar has a purity of between 99.5% and 99.9%.

Our 1 oz gold bullion bars are made from investment grade gold bullion and each one weighs exactly 1 troy ounce.
250 gram Gold Bar: A popular bar, no matter your worth or reason for adding a gold bar to your portfolio. The 250 gram gold bars is not only a great investment choice but it is easy to store and transport.
10 Ounce Gold Bar: This investment grade bullion bar bar weighs exactly 10 troy ounces (311.034768 grams) . It is sold at slightly lower premiums than 1 ounce gold bars or coins.
500 gram Gold Bar: These bars are a great option for those wanting to purchase gold bars at lower premiums. Also popular with High-Net-Worths and store-of-value buyers.
1 Kg Gold bar: These 1 kg gold bullion bars are increasingly preferred by high net worth and institutional investors.

Does it matter where I buy my gold bar?

In short, yes it does! Deciding to buy gold is a big decision. One of the many reasons people decide to hold physical gold is to reduce the counterparty risk exposure to their portfolio. So, it is vital that in the first step to buying gold bars you don’t fall victim to dodgy counterparties who do not have your best interests at heart.

Whilst the UK market is globally renowned for its high standards and quality of service, this does not mean that you are guaranteed to find this no matter where you choose to buy gold bars.

We believe that buying gold from a reputable gold bullion dealer is the best way to buy gold bars. You can read about this and other options available to those looking to buy gold bullion, below.

High street - We mourn the loss of the high street as much as anyone, but sadly it is no longer the best place to buy gold bars. Whilst a traditional gold and silver dealer shop is advantageous should you wish to hold your gold bar and take it home the same day, there are very few other advantages. The premiums and additional services cannot compete with the likes of gold bullion dealers who are known for low premiums and services such as secure storage and buy-back arrangements.
Online marketplaces - it is very easy to believe that this is one of the few ways you can buy gold online, so powerful are marketplaces’ search engine adverts. This is not the case and we do not recommend this as a route to buying gold bars. It is very difficult to verify where your gold is sourced from and to ensure that you are buying a genuine gold bar that is investment grade bullion, or gold at all. Look out for high premiums and hidden costs. You must also be aware that it will be extremely difficult, if not impossible to sell your gold at a later date should you wish to do so. Proceed with caution.
The Royal Mint is globally-renowned as a producer of some of the most sought after gold coins. They also mint and sell gold bullion, however only Royal Mint gold is available which is a limited range. Compared to UK gold bullion dealers, such as GoldCore, their premiums are quite high. They also do not offer to buy-back any gold that you have bought from them.
Dedicated UK gold bullion dealers - when it comes to buying gold bullion bars we believe a UK gold bullion dealer is a clear choice. Look for dealers who have a strong reputation and excellent online reviews, as we have here at GoldCore. We offer our 14,000 clients a wide range of gold bar products. From buying and taking delivery of 250g investment grade gold bars, to holding gold through to Perth Mint Certificate Program, we have options to suit all investors.

How to Buy Gold Bars in the UK with Goldcore?

GoldCore has made it easier than ever to buy physical gold bars. Simply go to the "open account" page on our website and open an online trading account from the convenience of your own home.

We provide a range of account types in a variety of currencies to cater to the needs of any investor. There is even the option to open multiple accounts in any currency you like.

We are currently offering five different account types:

Personal Account: For a private individual to trade and manage their investments
Joint Account: For two or more individuals to manage their investments
Company/trust Account: For companies or trusts wanting to trade
Pension Account: Secure your future retirement with a gold investment
GoldSaver Account: Popular option among private individuals who are looking for a budget-friendly option of investing in bullion

Once you have chosen the account type that suits you best, you need to provide us with the correct documentation to verify your identity, such as a copy of your passport or driving license. You will also need to provide proof of residency, such as a recent bank statement or utility bill. None of these documents should be older than six months.

Providing documentation is extremely straightforward. All you have to do is take a clear photo or scan the documents before uploading them to your account.

Lastly, you need to add funds to your account. You can do this through a number of options, such as bank transfer or debit/credit card.

Also read: Is buying Silver a Good Investment?

How to Start Investing in Gold Bars?

At GoldCore, we offer a range of gold bars for you to choose from. An account with us allows you to manage your investments privately and conveniently from the comfort of your own home.

If you have any questions or concerns, we are happy to help. Find out more about gold bars in our blog “Gold Bars: The Complete Guide Before Buying” Alternatively, give us a call to speak with one of our experts: UK +44 203 0869200, Ireland +353 1 632 5010 US +1 888 381 8130.

You may be interested in reading our blog on How much a Gold bar is worth?