How to Buy Physical Gold? (2024 Guide)

This article has been reviewed and updated for 2024.

Goldcore brings to you the complete buyer's guide on how to buy physical gold. Our expert advice will help you invest wisely.

What is physical gold?

Gold is a precious metal that has been used in industry, as jewelry, and as a store of value for millennia. Across the globe today it is still used for these very things. Even though it is no longer used as a sovereign currency it is still held in high regard and viewed as superior to the currencies of even the wealthiest of nations. This is why it is so popular as a form of investment and safe haven for wealth.

This guide will tell you all you need to know about physical gold and where to buy physical gold. We understand that even once you have spent time coming to the decision to invest in gold, you might still be wondering how to buy physical gold. or, can you buy gold bars? Or, where can you buy gold coins?

Read on to find out more about how to buy physical gold.

What is gold bullion?

Often you will hear the word bullion to refer exclusively to gold bars, but this isn’t the whole picture as it generally refers to both bars and gold coins and can be used interchangeably. The term bullion refers to investment-grade gold, the bar or coin derives its price from the precious metal it contains. To this end, in order to be referred to as bullion the gold must be at least 99.5% pure.

Bullion is the purest gold. It is the only form of gold that is considered an investment by major institutions (banks, governments etc).

The price of bullion is determined by the spot price of gold, plus the premium charged. The premium covers all of the costs it has taken to get that gold bar or coin to you in the state that you buy it in - production, transport, insurance, marketing and maybe packaging if you are buying a particular kind of bar or coin. The dealer’s premium may also reflect demand and supply for that particular bar or coin at the time of purchase.

What is a bar of gold?

A bar of gold is a standard size block of gold of at least 99.5% purity. It comes in a range of weights and sizes, to suit each investor’s requirements.

In order to prevent counterfeiting, forgery and to prove authenticity the bars adhere to certain standards set by the refineries themselves. You will find that they have a very specific shape and will bear the logo and name of the refinery as well as a unique serial number that connects it to where it was minted or poured.

Here at GoldCore we only sell gold bars made by LBMA-approved refineries. By owning LBMA-approved gold bars you are ensuring your bars are authentic, competitively priced, and easily resold as the market is highly liquid.

Also read: How much is a gold bar worth?

How much does a bar of gold weigh?

Gold bars come in a number of shapes and sizes, with one to suit every investor and investment strategy.

Our 1 oz gold bullion bars are at least 99.95% pure and weigh exactly 1 troy ounce.
250 gram Gold Bar: Easy to store and to transport, this is a very popular bar across different investors and investment strategies.
10 Ounce Gold Bar: Due to its slightly larger size this investment grade bullion bar is sold at slightly lower premiums than 1 ounce gold bars or coins. It weighs exactly 10 troy ounces (311.034768 grams).
500 gram Gold Bar: As it is larger, the premium mon 500 gram gold bars are even lower than the aforementioned bars. 500g bars are 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. Premiums are even lower on these bars due to their significantly larger size.

Also read: How much does a gold bar weigh?

What is a gold coin?

Gold coins are, as you would expect, coin-shaped. They are similar to the legal tender coins we have in circulation today. That’s about where the similarities end! Gold bullion coins are extremely valuable, expertly crafted, and guaranteed by the sovereign state from whence they came.

You will not find a gold bullion coin of less than 99.5% purity. Some will have been mixed with another metal such as copper to make it harder, but this does not reduce its purity or the amount of gold inside. For example, a 1oz Kruggerand will contain 1 ounce of gold, but will actually weigh slightly more due to the addition of copper.

What gold coin to buy?

Here at gold coin we offer the most popular and highly sought-after gold bullion coins from the world’s most respected mints. These include:

What to consider when buying physical gold?

What is the range of gold bars and products offered? - Look for outlets that are able to offer a range of gold bars and coins. Every investor and their portfolio requirements are different, so it is important to feel that your gold bullion dealer is able to find a product to suit you.
Premiums charged - Premiums are relatively higher on small bars than on large bars. The premium is the amount charged on top of the price of gold that the bar contains. The premium covers the costs it took to get the bar to the point of sale.
Additional charges - Additional charges might be delivery fees, insurance or even ‘handling’ costs. Be careful when you see undisclosed charges.
Storage options - It’s important to consider what you will do with your gold bars, once you have purchased them. You may choose to store them at home but this is rarely practical. Look into what secure storage options your gold provider is able to offer you.
Buy-back options - You hopefully plan to always hold gold bars as part of a balanced portfolio but there may be times when you want to reduce your exposure to the precious metal or realise some gains. This is when you need access to a dealer and platform that is easily accessible should you decide to sell some of your gold.
Reputation -Always look at online reviews, customer testimonies and listen to friends; recommendations. Often good old word of mouth is the best reference. Here at GoldCore we have over 14,400 customers, so you’ll be sure to find one of our many happy customer reviews!

Where can I buy gold bars?

Royal Mint - The Royal Mint is highly respected and mints coins that are sought after around the world. However, to buy physical gold from here is to face a very limited selection of coins and bars, some with high premiums. In contrast, here GoldCore we offer a range of gold bars, as well as our Perth Mint Certificate Program and gold coins. Unlike Goldcore, the Royal Mint also does not offer the option for clients to sell their gold back to it. This is even the case if the gold bar or gold coin has been minted by and bought directly from the Royal Mint.
The Post Office - The Post Office only sells gold bars and coins from The Royal Mint. Even then, it is a limited selection. Very often it is beautifully packaged as the Post Office generally only sells coins and bars for gifting. Such bars and coins come with high premiums and are priced very high relative to the value of the gold that is being purchased. Read more about how to buy gold from the post office.
The high-street - Some who choose to buy physical gold prefer to buy from high street shops because they offer the advantage of being able to see and feel the gold bar or coin before taking it away on the day of purchase. However, this is where the advantages end. By nature of a shop’s setup the premiums on the gold bullion are generally higher than you would find at a gold dealer. You will also not be offered secure storage to the standard an investor should use and you will not be able to access the highly liquid invest-gold market should you wish to sell your gold at a later date.
Online marketplaces - Sadly it is very hard to find an advantage to using an online marketplace to buy physical gold. You might be tempted by the large range of gold bars and coins on offer but this is because anyone can sell on these marketplaces, so naturally, the options are vast. Because the marketplace is open to be used by anyone you must proceed with caution as it is very difficult to authenticate the bars and coins for sale. It will also be near impossible to resell your physical gold at a later date.
Dedicated gold bullion dealers - GoldCore is one of the leading gold bullion dealers. Over 14,400 people in 130 countries have chosen us when it comes to buying physical gold. This is thanks to the complete service we offer that is secure, simple, and personal. We have a wide range of gold bars to suit your investment strategy. The premiums we charge are competitively low with no hidden fees and we offer a competitive buy-back scheme. Many of our clients choose to take advantage of our secure storage vaults that are in a number of safe jurisdictions across the world.

How to buy Physical Gold with GoldCore?

Here at GoldCore we have helped investors to buy and store physical gold for almost two decades. Our thousands of customers worldwide use our advanced and secure online trading platform to invest in both gold and silver bullion.

To get started with GoldCore, simply click on the “open account” tab at the top of our website.

We have made the process of buying gold bars with GoldCore safe and straightforward. However, it can be that investing in gold bullion seems intimidating when you first start, which is why we offer free strategy calls to help you through the process.

To book a free strategy call, simply call any of the following numbers: UK +44203 0869200, Ireland +(01) 653 3426, US +1 888 381 8130. Our team is always on hand to help answer any questions or concerns you may have