How to buy gold with Cash a Step-by-Step Guide

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There are many ways to buy gold with cash and so in today’s article we will go over how to buy gold with cash in the safest and lest taxing ways possible.

Buying gold as an investment can be one of the best ways to hedge against inflation, especially in times of economic turmoil and stock market recessions but buying gold can sometimes be tricky if you are not an experienced gold investor.

Best option to buy Gold with cash

Your best option to buy gold with cash would be though an online gold dealer like the ones we are about to list below.

This is the safest way to buy gold bullion as these are certified gold dealers, so you are guaranteed quality, pure gold and deliveries are often insured by the seller.


How to buy Gold bullion

You can buy gold bullion bars and rounds from online gold retailers like the ones listed in the table above.

One thing to look out for is that these retailers often offer discounts to military servicemen and for buying in bulk.

Sellers will usually mark up the market price of gold, this are called “Premiums” and they can be used to lower you cost basis when paying your capitals gains taxes on your gold (If you want to learn more about taxes on gold, we suggest you check out this article).

Some retailers consider buying more than 100 gold bars (or 500 gold coins) as a “bulk” purchase and can often give discounts for this, but this will largely depend on the gold seller.

Where to buy Gold bullion with cash

Some of the most well-known and trustworthy retailers that sell gold bars for cash include:


You can also buy gold bullion with cash from:

  • Some banks
  • A third party like a friend
  • Pawnshops
  • Local Jewelers

We however do not recommend because buying from some of these parties because it can increase the risk of getting low quality gold and increase the risk of being scammed.

So, we would recommend sticking to the well-known and certified gold dealers on the market.

Where to buy Gold coins

Several governments, including the U.S. British, Canadian and Australian governments manufacture their own gold coins with their mints.

Some of the most well-known government gold mints in the world are:

  • The U.S. Mint
  • Royal Canadian Mint
  • Royal Mint of the United Kingdom
  • The Central Mint of the People’s Bank of China
  • The Perth Mint in Australia

You can technically use coins issued by the U.S mint to pay for goods are retail stores because they are technically legal tender, but the value of their gold tends to be much higher than the face value (the value imprinted on the coin by the mint).

For example: A one-ounce American Gold Eagle 2019 coin’s face value is $50, but its real value is more than $1,700 because that is the current market price of gold.

Privately-owned Gold Mints

Some private mints also manufacture gold coins and the most well-known privately-owned gold mints in the world are:

  • New Zealand Mint
  • Sunshine Minting
  • Valcambi
  • Austrian Mint
  • South African Mint
  • Geiger Edelmetalle
  • PAMP Suisse

However, rarely do these institutions sell their gold coins directly to investors, to buy gold coins investors must buy them through authorized gold dealers like the ones mentioned above or otherwise through third parties like pawnshops, auctions, or acquaintances.

The best way to buy gold coins is through authorized gold dealers, here are some of the best gold dealers that specialize in gold coins:


Again, the latter ones are not recommended so keep that in mind when making an investment on gold coins or gold bullion.

Bullion is physical gold of high purity, and it is usually bought in the form of ingots, bars, coins or round.

One thing you need to keep in mind though is not to confuse gold rounds with gold coins, they are very different, but they can be confused because of their circular share, however, they are closer to gold bars in the sense that they don’t have legal tender and don’t differ in design.

Gold rounds are also taxed the same way as gold bars or ingots, but gold coins have less forms requirements (if we talk about national coins like American Gold Eagle coins).

You can purchase gold bullion bars in many different weights -they range from just a gram costing around $100 to 400 ounces costing around $700,000.

These bars are identical to the ones the American government holds in places like Fort Knox.

One thing to look out for when buying Gold bullion

Be careful though (especially when buying gold bullion from non-certified brokers) when checking for you gold bar’s legitimacy.

You can know your gold bullion bars are Legitimate because they are always stamped with the manufacturer’s name, its purity, and its weight.

You might want to test your Gold for purity when buying gold bullion for uncertified brokers or even from a non-certified third party like a friend or a family member, safety always comes first and you need to mitigate your risks when investing in gold.

Buy Gold jewelry with cash as an alternative to gold bullion

Investing in gold jewelry is another way to invest in the precious metal, but always keep in mind that the price you pay inclused the craftmahship of the piece and that the amount of gold it contains will be just a percentage of its overall weight.

In other words, you’ll be paying more for less gold BUT the ultimate value that gold jewelry offers is its exclusivity and for that, the value of your piece may increase substantially depending on different factors.

Some of these factors include:

  • The designer
  • To whom the jewelry belonged to (if it’s a historical piece)
  • The karat (Purity)

Where to buy Gold Jewelry with cash

These are some of the places both online and offline that accept cash as payment for jewelry and even gold bullion although you have to be careful when buying gold with cash because there are limits to how much gold you can buy with cash in some countries.

We include some brokers and jewelry designers on this list because they fulfill a number of criteria, mainly: They are trustworthy, their jewelry pieces are of the highest quality, ease of transaction, and exclusivity.


We have a hub dedicated to gold jewelry investing to be sure to check it out through this link right here.

Bottom line

There are many alternatives if you want to buy gold with cash even online, so be sure to always check out your different options to lower your risk when buying gold with cash, especially large amounts of gold.

We also recommend you plan for your taxes because even when buying gold with cash you can still be subject to tax payments and other forms given by the IRS you have to fill.

We hope this article helped you, for more information on investing in precious metals, commodities, and jewelry we kindly ask you consider visiting our home page.

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