Buying Gold Coins From Banks
Dealers and private consumers are not the only parties that sell gold coins. Major banks sell popular gold coins like the American Buffalo and American Eagle bullion coin. To buy gold coins like this, an individual need only go to a participating bank and make the purchase. This is a convenient way for consumers to get the gold coins they want without having to submit credit card information online or send a check through the mail.
Though the U.S. Mint indicates that some banks sell these coins, the only banks it lists on its Web site are Bremer Bank, N.A., Citizen’s Bank and Trust Co. of Jackson, Kentucky, and Water Power Precious Metals at Lakeside Bank in Chicago, Illinois. Individuals interested in buying an American Buffalo or American Eagle gold bullion coin should contact local banks to see which institutions participate.
Banks offer gold coins like this at a price based on the market price of the precious metal, plus a premium that covers distribution and coining costs. Coins are available in limited supply, so a few calls may need to be made to find the rarest ones. Larger, franchised banks as these are generally more likely to sell such coins.
Whether consumers buy gold coins to diversify their investment portfolios or purely for collection purposes, bullion is a great investment. The American Eagle bullion coins are backed by the U.S. government and may be sold to a coin or precious metals dealer for cash. They are considered legal tender and were first minted in 1986.
Reputation is one reason to buy gold coins from a bank rather than a dealer. While research is required to investigate the background of a dealer, the same is not usually the case for a bank. Most banks are on par with the U.S. Mint when it comes to security. They process transactions as confidentially as possible and deliver coins discretely.
Related posts:
- Why Are the Central Banks Buying Up Gold?
- Gold Banks: How to Buy Gold Coins From a Bank
- Gold Coins Worth Buying
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