Best Place to Buy Gold that NO ONE Talks About in 2025

This video offers practical advice on buying and selling physical gold and silver, focusing on cost-effectiveness and tax implications. It recommends sticking to gold bars or coins for investment rather than jewelry, as the latter incurs higher premiums and is often not pure gold. For purchasing, reputable online dealers and Costco are mentioned, with Costco highlighted for competitive pricing and potential cash-back rewards. When buying online, exercising caution due to third-party fulfillment and the no-return policy is advised.

Selling gold and silver can be done through local or reputable online buyers, and it's suggested to consider selling back to the original vendor if not purchased from Costco. The video also touches on sales tax exemptions for purchases over $2,000 in certain states, and capital gains tax rates, noting that gold and silver are classified as collectibles, with gains taxed at ordinary income rates if sold within a year, and capped at 28% if held for over a year.

• For investment, prioritize gold bars or coins over jewelry due to lower premiums and higher purity (99.9% fine gold recommended).
• Costco offers competitive pricing for gold, especially for 1 oz gold bars, with potential savings from executive membership and credit card rewards, totaling up to 4% off.
• When purchasing from Costco online, be aware of risks associated with third-party fulfillment and the absence of returns or refunds; unboxing videos are recommended.
• Sales tax can be avoided on purchases over $2,000 in states like California, and capital gains tax on gold and silver (classified as collectibles) is capped at 28% if held for over one year.
• Selling options include local stores, reputable online dealers, or the original vendor (if not Costco), with an emphasis on understanding the tax implications based on holding periods.

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Buying Physical Gold and Silver [00:14]

• Reputable dealers for physical gold and silver include JM Bullion, SD Bullion, Money Metals Texas Gold and Silver, and Costco. Local gold or jewelry stores can also be considered.
• For investment purposes, it's best to stick with gold bars or coins, not jewelry, due to significantly higher premiums on jewelry.
• Jewelry gold is often not 24 karat or 99.9% fine, with some being 18 karat, and the high premiums make it a poor investment choice.
• Premiums are the difference between the asking price and the spot price, covering mint and seller costs.
• Selling jewelry back to stores will likely result in losses as they buy at or below spot price.
• Opt for gold or silver bullion or coins for investment.
• Larger weights of bullion are generally cheaper per ounce, and discounts may be available for bulk purchases.
• Ensure gold bullion or coins are 99.9% fine gold; some are only 97% fine.
• Gold bullion typically has cheaper premiums than gold coins.
• Gold coins are more visually appealing with designs and engravings, making them suitable for collectors, but bullion is simpler for investment.

"For investment, it's best to stick with gold bars or coins and not jewelry because jewelry gold will have much higher premiums. They're not even 24 karat 99.9% fine gold. Some of them are 18 karat gold and they charge you such a high premium that it does not make sense for investment because of higher price."

This section details the types of gold and silver suitable for investment, emphasizing purity and cost-effectiveness, and explains the concept of premiums and spot prices.

Costco as a Buying Option [02:34]

• Walking into a Costco store can be a way to buy 1 oz of gold, though not all warehouses offer this.
• Costco's prices are competitive, potentially around $370 cheaper than online stores like JM Bullion.
• Executive members receive an additional 2% cash back, and using a credit card can provide another 2% cash back, totaling 4% off.
• An example purchase of a 1 oz gold bar for $3,390 could result in $135 cash back (4% total), bringing the net cost to $3,255, which is lower than the spot price of $3,341.
• Gold can also be purchased online from Costco, though availability may vary due to supply and demand.
• Historically, Costco online gold sold out in 2 hours; currently, there may be more stock available for longer periods.
• A significant risk with online Costco purchases is that they are fulfilled by a third-party, which can lead to errors.
• Costco does not accept returns or refunds for gold orders.
• There have been reports of customers missing gold bullion from their orders.
• It is recommended to take a video when unboxing gold packages from Costco to document the order in case of mix-ups.

"The price is very competitive and right now I think it's around $370 cheaper than JM Bullion or other online store. And if you're an executive member, which I am, you get another 2% cash back. And then if you use your credit card, you get another 2% cash back. That's a total of 4% off."

This section focuses on the advantages and disadvantages of buying gold through Costco, including pricing, rewards, and potential issues with online orders.

Selling Gold and Silver [04:58]

• Costco does not buy back gold or silver.
• To sell gold and silver, one can go to local stores or reputable online stores that are willing to purchase them.
• It's advisable to consider selling back to the store where the gold and silver were originally purchased, unless it was from Costco.

"Costco won't accept taking back your gold. You can go to the local store or reputable online store. They're willing to buy your gold and silver."

This part briefly covers the options for selling owned gold and silver.

Tax Implications: Sales Tax and Capital Gains Tax [05:16]

• Residents of California can avoid sales tax on purchases exceeding $2,000. It's advised to check local state tax laws for potential savings.
• If gold and silver are sold within one year of purchase, any gains are taxed at the individual's ordinary income tax rate.
• If gold and silver are held for one year or more, the capital gains tax rate is capped at 28%, as these metals are classified as collectibles.

"If you sell your gold and silver within a year, the gains will be taxed at your ordinary income. If you hold your gold and silver for a year or more, the gain tax rate is capped at 28%. This is due. Gold and silver is classified as collectible."

This section explains the sales tax exemptions and the capital gains tax structure for gold and silver based on holding periods.