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In good and bad times, gold is in demand. People see the precious metal as a safe way to protect their money, betting its value will stand the test of time. It gives them peace of mind knowing they have a tangible asset they can trade. It’s also making gold holders a little richer, at least on paper. Gold is currently selling for about $2,350 an ounce, as of April 11, up almost 17 percent from a year ago and nearly double what it sold for five years ago.
“I think there’s always a demand and appetite for gold and silver and precious metals in general,” says Jonathan Rose, cofounder and CEO of Genesis Gold Group. “With conflict arising in the Middle East and fears of a recession, people are moving to the yellow metal as a safe haven.” That’s not to say it’s the best way to save for your retirement or a rainy day. Just like other assets, the price goes up and down.
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To buy gold bars and coins from the U.S. Mint, you need to go through a network of official distributors who sell to wholesalers, financial institutions and secondary retailers that sell to consumers either online or in person. If you are buying online, Rose says do business with an American company that is licensed and bonded by the state to sell gold bars and is known as a reputable dealer. “There’s a lot of fake gold out there online,” says Rose.
While much of the gold sales happen through these authorized sellers, you can also get your hands on bullion at some surprising places including these three national retailers:
1. Costco
The warehouse retailer claims to be doing a brisk business selling gold bars online. Costco members can buy 1-ounce gold PAMP Suisse Lady Fortuna Veriscan bars via the Costco website. Delivery time is about two to three business days. The gold bars are not eligible for returns or refunds.
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