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Can You Buy Gold and Silver From a Bank?


Written by John Rothans

Jan 21, 2022

Central banks are among the largest buyers of gold, and yet it’s very rare for customers to be able to buy gold at banks. In fact, it’s unusual for typical banks to sell any precious metals. And even when they do, their selection is limited. However, you can readily purchase gold from reputable precious metals companies.

Can You Buy Gold From a Bank?

Around the world, central banks buy large amounts of gold. As of the third quarter of 2021, the United States, Germany, the International Monetary Fund, Italy, and France owned the greatest amount of gold held in reserves, according to the World Gold Council.

A central bank, which controls its country’s monetary policy, may purchase gold for several reasons. For instance, central banks such as the U.S. Federal Reserve, European Central Bank, Bank of England, and Bank of Japan buy gold to help manage risk, promote stability, provide a hedge against the U.S. dollar, and supply a hedge against inflation.

Can you buy gold coins—or any other precious metals—from a bank? Technically, yes, at some banks, but you may want to shop elsewhere. While you might want to buy gold for some of the same reasons that central banks do, shopping for gold through a bank is not that simple.

Some U.S. banks do sell gold bars and coins as well as silver coins, but the vast majority of U.S. banks do not make gold or silver available to the public. Banks usually avoid selling precious metals because of their price fluctuations. And even if a bank does sell gold or silver, their inventories typically don’t measure up to the size and variety of inventory found at precious metals companies and other sellers.

What Is the Easiest Way to Buy Gold?

Heading to your neighborhood bank is definitely not the easiest way to buy gold. Instead, the easiest way to buy gold is online or over the phone from a highly rated precious metals company.

A local dealer in precious metals can sell gold and silver to you. But you’ll be responsible for carting the metals from the shop to your home or another location.

Another alternative is buying from a reputable dealer like U.S. Money Reserve. Online sellers ship precious metals directly to you, eliminating the need for you to carry physical gold or silver with you.

Benefits of Buying Precious Metals Online

Aside from the ability to send precious metals directly to you, a precious metals dealer that sells online may be able to:

  • Ship your precious metals to a secure vault rather than to your home. (Storing precious metals in an off-site vault offers an extra layer of security.)
  • Provide bars and coins produced by a variety of mints from around the world.
    Supply precious metals advice from an array of knowledgeable specialists.
  • Give you the chance to shop for precious metals privately and on your own schedule.
  • Help you set up a self-directed IRA at the same time as you make a purchase for physical delivery, enabling you to hold precious metals and other alternative assets in a retirement account.

The easiest way to buy gold is not through a bank. It’s through a reputable precious metals company online or over the phone. Not only can you shop on your own time, but you also can shop from a wider selection of products and make your purchase precisely when you want to. Browse U.S. Money Reserve’s catalog of gold and silver now or call for even more inventory options.


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