What to know about coins, bars, and premiums before your first purchase.
Buying physical gold is straightforward once you understand a few basics: what you’re actually paying for, the difference between coins and bars, and how to tell a fair price from an inflated one. This is general information, not investment advice — talk to a licensed financial advisor before making investment decisions.
The gold spot price is the raw market price per ounce. Dealers add a premium on top to cover minting, distribution, and their margin. Premiums are typically higher on small, widely recognized coins than on larger bars, since coins cost more to produce and are easier to resell in small quantities. Check the current gold spot price before you buy, so you know what premium you’re actually paying.
Coins (like American Eagles or Canadian Maples) are government-minted, instantly recognizable, and easy to sell in small units, but usually carry a higher premium. Bars are typically cheaper per ounce and better for buying in bulk, but can be slightly harder to verify and resell piece by piece. See our full Gold Bars vs Gold Coins comparison for more detail.
Stick to dealers with a long track record, clear pricing, and buy-back policies. Avoid high-pressure sales tactics, deals that seem far below spot price (a common scam pattern), and always confirm current spot price independently before agreeing to a purchase.
Options range from a home safe to a bank safe deposit box to insured third-party vault storage. Each has different tradeoffs around access, cost, and insurance — worth deciding before you buy, especially for larger purchases.
It depends on your goal. Coins are easier to sell in small amounts and are widely recognized; bars usually have a lower premium per ounce, which can suit larger purchases better.
Premiums vary by product and dealer, but are typically a few percent over spot for large bars and somewhat higher for small, popular coins. Compare a few dealers before buying.