When buying gold bars online, the goal of many investors is to get the cheapest price for the bullion item they are looking to purchase. It can help maximize your buying power and therefore will enable you to buy more physical metal for your money. On this page you can compare the prices of all the major online gold dealers for your desired piece of bullion or simply find a bar you wish to buy by researching them all right here! Just simply click the “Compare” button next to each product to compare each dealers lowest price.
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Gram Gold Bars
Small gram size gold bars are a popular choice for investors who are just starting out or for those who are looking to buy physical gold in its most divisible form. Though many other mints produce gram sized bars, we have kept our list limited to the most common.
Ounce Gold Bars
Full troy ounce bullion bars are one of the most recognized sizes which are available to individual investors. The most common ounce sizes are the 1 oz and 10 oz . Below are the most common brands available for sale online for you to compare:
Kilo Gold Bars
Kilogram gold bars are a preferred size for investors who are looking to make a sizable investment in physical bullion at the lowest cost per ounce. The kilogram gold bars are often .999 – .9999 pure and are made by a few minting and refining companies. Listed below are the most common kilogram gold bars for you to compare:
How Do Dealers Decide What To Charge For Gold Bullion?
The industry standard in regards to the pricing of gold bullion is based off of the current spot price. Spot price is the going rate of gold per troy ounce (or 31.1 grams). Spot price is derived from the different gold markets around the world during trading hours.
Most dealers are charged what is referred to as a “premium” over the spot price for the bullion that they purchase from their distributor. Because of fabrication and refining costs the distributor may encounter when producing the bar, they will have to add that on to their cost, meaning the bar will sell for spot price plus a small premium. This is then passed on from the dealer to the investor.
How Can I Buy Gold Bars Cheaply Online?
There are a few different approaches you can take when trying to buy gold bullion cheaply online. Through our experience, we have found there to be four major ways to achieve the lowest per-ounce cost when investing in gold which are featured below:
- Bulk Discounts – The first approach requires buying in bulk quantities. This may sound intimidating, and you may think it will require a large investment, but in all reality it can be done for a smaller amount than you might think. Many dealers offer pricing tiers which provide a per-item discount when reaching a specified quantity. Some gold bullion dealers offer these price breaks at quantities of as low as two or five pieces.
- Avoid High Shipping – The second approach is to take the shipping charge and any other hidden fees into account when calculating your per ounce cost. Though you may think you are getting an awesome deal on a 1 oz gold bar by paying only $15 over spot price, if the dealer is charging $25 for shipping, this means in all reality your per-ounce premium is $40. By adding these costs into the equation, you can save your self a considerable amount of money over the course of a year.
- Compare Gold Prices – With taking the previous steps into account, using gold price comparison tools can be a great way to find the lowest per ounce premiums. You can find this tool above. Alternatively you can find these tools on other sites like goldprice.com.
- Find The Deals – The fourth, and probably the most obvious way to get the lowest price for gold bullion is to look for deals. Often times gold bullion dealers will offer special promotions and discounts on their products, which can often be a good time to buy if you are in the market for some bullion. One of my personal favorite deals are the “any quantity” variety, which gives you access to a dealer’s bulk pricing with no minimum order size. If you find a deal like this, and combine it with inexpensive, or free shipping, you can enter the gold market with a very small investment.
What Are Gold Spot Prices?
The spot price of gold is the value of gold per troy ounce which the precious metal is currently being traded at. Without going into too much detail, gold spot prices take a number of domestic and foreign markets and events into account to reflect the true value of one troy ounce of pure gold in USD.
Why Are Gold Bullion Prices Higher Than Spot Prices?
With little exception, gold bullion is priced above the current market value for gold. Beginning investors are often confused by this at first glance and reasonably so. The reason for these over spot premiums has to do with several factors which we will attempt to outline below:
- Production Costs – The major mints who produce gold bullion have to buy it on the open market at or below the gold spot price before producing it (this will usually be at spot price). From here they still have to refine the gold into its purest form, mint it, assay it, package it and finally ship it to the distributor. The distributor then has to pay the supplier an over spot premium to compensate for these costs.
- Acquisition Costs – Since the dealer has to pay the manufacturer an over spot premium they will then have to sell it at slightly higher premium than they purchased it for. Like most businesses they have to cover their operating costs and also turn a profit.
- Supply and Demand – One of the most common price driving factors in many markets is supply and demand. Gold bullion and collectible gold coins are no different. If a gold bullion product has a low supply or mintage and high demand (either by investors or collectors), this can ultimately affect the price that any given dealer sells it for.
What Are The Cheapest Gold Bars To Buy?
When it comes to the price of a gold bar, you will usually see the premium per ounce decrease as the bars weight increases.Generally, the cheapest gold bars are the 1 oz, 10 oz and kilogram sizes. On top of this, the brand of the bar, its design and the scarcity of the particular variation can also play a role in the final price.
Aside from these factors, bars with a low serial number from a desirable mint or vintage gold bars can demand a higher premium and should be avoided for the sake of investing in pure gold. Many dealers advertise the “as low as” price, which is usually for larger quantities. Be sure to look at the price for the quantity you are looking for to determine the true lowest priced bar for your budget.
What Are The Best Gold Bars To Buy?
This is a tough question and really depends on what your overall investment goals are. If you are just looking for the lowest priced gold bullion to buy, the best gold bars will most likely be one of the larger, low premium items such as a 10 oz or kilogram bar. These bars are made by many reputable minting companies like PAMP Suisse, Credit Suisse and Johnson Matthey. If these are beyond your budget, you can still find many 1 oz gold bars that are priced reasonably. Smaller gram bars (less than 50 grams) will be the most expensive variety, but can often be re-sold at an over spot premium also.
Where Can I Buy Gold Bars Cheaply?
If you are looking to buy gold bars cheaply your options are pretty much unlimited. You have the option of going to a local coin shop, cash for gold store, an online bullion dealer, or auction sites like eBay. While they each have their advantages and disadvantages, one of the most popular ways is to purchase them online from a bullion dealer’s website. Some popular dealers who offer gold bullion and other precious metals include APMEX.com, Golden Eagle Coins, SDBullion.com, ProvidentMetals.com and JMBullion.com though there are many, many others.
