Can You Buy Gold Coins From A Bank
Camila Farah
If you re going to buy physical gold from a bank chances are it will be in bars or coins.
Many people expect a bank to issue gold harkening back to times of old but today most physical gold is purchased from non bank distributors. If you re dealing with a foreign bank be prepared to deal with currency rates. Even the us mint requires retail customers go through an authorized purchaser unless you want a proof product. But when you buy gold online you have a custodian or other financial representative assist you in having your assets delivered directly to your or your secure location.
If you re going to buy coins be prepared to pay a commission on top of a premium to the current price of gold. Existing uob personal internet banking users can buy gold bars gold bullion coins online at their convenience and collect the gold piece s in person at uob main branch within 5 working days. They also employ strict verification procedures to ensure that the coins they trade are original. Biggest catch no one in this world including jeweller s will en cash the gold coins purchased from banks.
Scotiabank is actually one of the world s largest dealers in precious metals and their history dates back over three centuries. You cannot en cash bank gold coins. Compared to the fractioned sizes the one ounce coins don t come at a high cost. Your bank would also issue a certificate of originality to guarantee that the coins are genuine.
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Yes you can buy and sell gold coins and bars at the bank including td bank and scotiabank. Along with the up front charges when buying gold it is important to compare any other fees and to look at the provision or not of carriage and insurance in cases where the buyer wishes to take delivery of the bullion. Td precious metals and scotiabank precious metals both offer convenient access to gold silver and platinum. After you have decided on a bank you re almost there.
Gold bars on the other hand are the stalwart of the industry what everyone from average investors to central banks buy and store. Coins may be more attractive but all that manufacturing and packaging comes at a price. Physical gold can also be bought through a bank or perhaps more commonly through bullion dealers. Banks get their coins directly from the us mint or from authorized dealers.
But before you charge into the bank make a plan.
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