Buying gold coins: which coins to choose, what to pay and where to buy

The main gold bullion coins

Coin	Made by	Purity	Face value (1 oz)	Allowed in an IRA
American Gold Eagle	U.S. Mint	22 karat (91.67%)	$50	Yes
American Gold Buffalo	U.S. Mint	24 karat (99.99%)	$50	Yes
Canadian Maple Leaf	Royal Canadian Mint	99.99%	C$50	Yes
Austrian Philharmonic	Austrian Mint	99.99%	€100	Yes
British Britannia	The Royal Mint	99.99% (22 carat before 2013)	£100	Coins dated 2013 or later
South African Krugerrand	South African Mint	22 karat (91.67%)	None	No

All six are bullion coins, made in large numbers and priced on their gold. In the U.S., the Gold Eagle is the easiest to sell and usually costs a little more. The 24-karat coins suit buyers who want pure gold, and the Krugerrand is often among the cheapest per ounce but can’t go in an IRA. Each coin has its own guide, linked in the table.

Bullion coins and collector coins are different purchases

A bullion coin’s price follows the gold price. A collector coin’s price depends on what collectors will pay, which can be far above the value of its gold. Proof coins, coins graded “70” by a grading service, “first strike” coins and old rare coins all fall on the collector side.

The U.S. Mint’s own prices show the gap. In its 2026 pricing grid, a 1 oz proof Gold Eagle costs $4,900 when gold averages $4,000 to $4,049.99 an ounce, roughly 21% to 23% above the value of its gold. Bullion Eagles sell for much less over spot. Collector coins are fine if you want to collect, but as a way to own gold they usually lose to bullion, and the markup is where many sales pitches make their money. Our guide to proof vs. bullion coins goes into this.

Which size to buy

One-ounce coins give you the most gold for your money. Smaller coins cost more per ounce, because minting and handling costs don’t shrink with the gold content. The Mint’s proof prices show the pattern: at the same gold price, the 1/10 oz proof Gold Eagle costs about 40% more than its gold value, against roughly 21% to 23% for the 1 oz coin. Bullion coins follow the same pattern with smaller numbers.

Fractional coins still have a place. They let you buy a little at a time, and they’re easier to sell in small amounts. A common approach is to buy mostly 1 oz coins and a few smaller ones.

What you’ll pay

The price of a bullion coin is the spot price times the gold it contains, plus the dealer’s premium. On top of that:

• Payment method. Many dealers charge more when you pay by credit card than by bank wire or check.
• Shipping and insurance. Online orders often include them above a minimum order size.
• Sales tax. It depends on your state. Some states exempt bullion and coins, some tax them, and some exempt purchases above a set amount.

Before you buy, ask what the dealer would pay to buy the same coin back today. The gap between the selling and buying prices is what you’d lose if you sold straight away. There’s a full walk-through in what gold really costs.

Where to buy

• Online dealers. Prices are easy to compare. Check a dealer’s complaint history with your state attorney general and the Better Business Bureau before sending money.
• Local coin shops. You can see the coins before paying and sell back to the same shop. Our guide to buying gold locally covers how to check a shop.
• Mints. The U.S. Mint sells proof and collector coins directly, but not bullion coins, which go through its authorized purchasers to dealers.
• Warehouse clubs. Costco has sold gold bars and coins online to members, with tight purchase limits. Our guide to buying gold at Costco covers the details.

Be wary of anyone who calls you first, advertises “exclusive” coins on TV, radio or social media, or pushes you to move retirement savings quickly. The Commodity Futures Trading Commission warns about all of these, and our list of red flags when buying gold has more.

Gold coins in an IRA

An IRA can hold certain gold coins, but not in your home safe. The coins must be held by the IRA’s trustee or custodian, usually at a depository, and only eligible coins qualify: American Eagles by name, and other gold at least 99.5% pure. The gold IRA guide explains the setup and gold IRA fees covers the costs.

Storing coins you own directly

• At home. A good safe helps, but check your insurance. Many homeowners policies cover coins and bullion only up to a small limit, often around $200, unless you add scheduled coverage or a separate policy.
• In a bank safe deposit box. Neither the FDIC nor, usually, the bank insures what’s inside, so you’d still need your own coverage.
• At a private depository. You pay a yearly fee, and the metal is usually insured while it’s there. Our guide to storing gold and silver compares the options.

When you sell

Dealers buy at a price below what they sell for, so shop around when you sell too. Our guide to selling gold and silver explains how. Gains on gold coins are taxed as gains on collectibles, at up to 28% for coins held more than a year. For some products and quantities, a dealer may also file Form 1099-B with the IRS when you sell, but a gain is taxable either way. Our guide to how gold is taxed explains the rules.

Frequently asked questions