Why Not Buy Gold from Bank? Encashment of Gold is Difficult It is because there are many reputed jewelers that guarantee the purity of gold that you are buying without charging any premium or making charges. These are highly unnecessary expenditures that you do while buying gold coins from banks. The reason for this is that the gold coins are imported from countries that are well-known for mining gold. When you buy gold coins from the banks, they charge 7-10% higher prices than the market rates. All of us are very well aware of the gold rates and the fact that their rates keep rising. If you are buying gold coins solely for investment purposes, it is definitely not a good idea to buy a commodity at a higher price that is already very highly priced in the market. Buying Price is Higher than the Market Prices Five Reasons Why You Should Not Buy Gold Coins from Banksīelow are five reasons why you should not buy gold coins from banks ever. Why are we spilling such harsh truths about banks selling gold coins? Here are the reasons why. However, if you choose to buy gold coins from banks, you will be losing twice. At the time of buying gold coins from banks, you may feel like you have made the best decision as they promise 99.9% purity and ease of buying, along with a high premium. While banks may look like the best place to buy gold coins, they are not, for several reasons.

It is because banks claim to sell 100% original gold with certifications. A lot of buyers prefer to buy gold from banks, especially for investment purposes.

Does us bank sell gold coins