Buy gold coins from bank? Good idea?

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While it is technically possible to buy gold coins from some banks, it is not very common. Banks usually avoid selling precious metals because of their price fluctuations, and even when they do sell gold or silver, their inventories typically don’t measure up to the size and variety of inventory available from precious metals companies. Additionally, when you buy gold coins from banks, they may charge 7-10% higher prices than the market rates. Therefore, it may be more convenient to purchase gold coins from reputable precious metals companies like JM Bullion, APMEX, or another authorized dealer.

Banks like HSBC and Leader Bank sell gold coins, but they would not usually publish information about it on their websites or advertise it openly for security reasons. Therefore, it is best to contact your bank directly and ask if they sell gold coins. However, it is important to note that when you buy gold coins from banks, they may charge 7-10% higher prices than the market rate.

In a recent YouTube video, the channel “Metalhead stacker” delved into a topic that has caught the interest of many investors: buying precious metals from banks. Specifically, the video centered around TD Canada Trust’s precious metals offerings, providing insights into the convenience, variety, and pricing of these investment options.

TD Canada Trust, a prominent player in the Canadian banking landscape, has stepped into the precious metals market by offering an array of gold and silver coins and bars for purchase. “Metalhead stacker” is quick to point out that this avenue offers an alternative to the traditional means of acquiring these valuable commodities.

The bank’s website, TD, acts as the digital gateway for precious metal enthusiasts to explore their options. The convenience factor is highlighted in the video, as viewers are informed that TD Canada Trust does not charge shipping fees for orders exceeding $100. This could potentially make the bank’s platform an attractive option for those looking to build their precious metals portfolios without incurring additional costs.

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