5 Questions to Ask Before Buying a Gold Bar
Before buying gold bars, it’s important to get answers to key questions that protect your money and ensure the bar is legitimate. Rushing into a transaction without understanding the product or the seller’s process can lead to unexpected issues.
Ask these questions:
- What’s the purity and weight of the bar? – Confirm this against the market standard (usually .999 or 24-karat).
- Is it from a recognized mint or refiner? – Names like Valcambi or PAMP often hold stronger resale value.
- Does it come with a certificate or serial number? – These support authenticity and traceability.
- Is the price in line with the current gold market? – Compare against the day’s spot price plus a fair premium.
- What are the terms for delivery or return? – Ensure there's clear information about how the bar is handled and what happens if issues arise.
Being prepared with these questions helps buyers avoid overpriced or risky purchases. Whether you're buying locally or online, verifying the basics gives you more control. A trusted contact with experience can provide further clarity, especially when dealing with higher volumes or uncommon bar types.