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Buy Gold Coins Online

Gold coins in India come with a lot of prominences in terms of value, religion, usage, and gifting. There is a long drawn history as to why Indians purchase gold coins. Gold is worshipped in Indian households to date before they could be used. It is considered that you are getting the home goddess Lakshmi when you buy gold. Also, it is a widely followed belief of paying for a gold coin beforehand and taking the delivery on a Tuesday or a Friday.

Why should you invest in gold Coins?

People invest in 100-gram gold bar or gold coins for a number of reasons such as

  1. For the sheer reason that they can convert it into cash on a rainy day
  2. For years gold has been appreciating at an exponential rate, people wish to take advantage of this price rise. Hence they stay invested in gold coins.
  3. There is always a utilization factor linked to gold sooner or later by way of weddings, family occasions, festivals, etc. People anticipate the need and hence buy gold coins in advance.
  4. With the rising currency risk in national and international markets, gold has always been a priced commodity that can be relied on.
  5. A gold bar when compared to any other asset such as building, vehicles, or land is the easiest to exchange for liquid cash. This makes it one of the prime reasons for investing in gold.

When to purchase gold coins?

Most Indians needn’t require a reason to buy gold coins or gold. A small celebration at home like a birthday can be a basis to buy gold. Jokes apart there are few major occasions where buying gold or gold coins surges up in the market. Practically every Indian household tends to look at buying at least one gold coin on these days of the year:

  1. Dhanteras – Lakshmi pooja day which comes one day before Diwali
  2. Akshaya Tritiya – Coming in the month of April which marks the beginning of summer days
  3. Sravana Sukruvaram- Coming in the month of July-August fondly called as  the month of Savan

Apart from the above people tend to purchase gold on respective regional new year days such as Ugadi, Vishu, Onam, Gudi Padwa, Lohri, etc and hundreds of big and small occasions that come in lifelike childbirth, gold gifts for birthdays, wedding anniversaries, retirements, and commemorating big and small events in life, etc. You can also get gold coins for sale along with attractive discounts on making charges during these festival months in the year.

Types of Gold Coin Online

There are hundreds of types of gold bars for sale online. Basically gold coins are available in

  1. Plain Form: It only has the weight, purity, and Jeweller mark on it such as a 10gram gold bar or a pure 5gram gold bar.
  2. Embossed form: It has an embossment of gods, goddesses, cross, Mecca, Zodiac signs, Queen Victoria, etc.
  3. Custom made: They are the best gold coins to buy and are ideal for gifting purposes. Some retail Jewellers have gold coin vending machines wherein one can emboss their name, date of birth, anniversary dates, etc.

Reselling of Gold Coins

Reselling of real gold coins in exchange for cash is not allowed in India. They can only be accepted and adjusted against the price of your purchase of a gold item at any retail Jewellery store. Some gold coins which are not hallmarked are first tested for purity and then accepted for exchange.

Advantages of Buying Gold Coins Online

Off all the available avenues to buy gold, buying gold bars is the preferred one. This is because of the easy resale that it gives, flexibility of liquidating whenever required and the ease of storing also is another point making it a preferred one.

Buying gold online has picked in recent years. There are few service providers from where we can find gold coins online in denominations from as low as 1gm, they can be purchased with an option to store them physically with them and call for a delivery when required only or alternately you can book the gold coin online and get it to an address of your choice. The service providers offer two types of buying:

  1. Buying gold as per denomination i.e. 1gm, 2gm, 5gm, 8gm, 20gm, etc.
  2. Buying gold in terms of rupee value i.e. if the gold rate is 30,000/10gms, a customer has an option to buy gold for 3500 rupees i.e. 1.16gms (fractional buying of gold). The same is recorded in the customer's e-gold account and can be redeemed in cash or through physical delivery as and when it reaches a certain limit or as specified by the service provider.

Latest Gold Coins Price

The gold bullion price is updated twice a day by the retail Jewellery stores. A standard Chennai bullion price is followed across all the Jewellery retailers in South India. For example, there are numerous pages that open when we try to search for 1 gram gold coin price or gold coin price in India or simply gold coin price today or gold bar price or 1kg gold bar price. You can select one of the pages like gold ring for women and get to know the price. You would observe that the price may vary between 50 -100 rupees with different retailers/banks/goldsmiths etc. This is bound to happen because of their value additions and differentiating service charges they add.

It is best to buy gold coins online from a reputed Jeweller to get the price and purity advantage. Alternately, when you buy gold coins online, you can exchange the same for jewelry with a retail jeweler and also gain the price advantage of selling a 24Kt gold coin for 22kt purity ornaments.

Types of 24K Gold Bars Online

Buying gold coins? Then you should know the types of gold coins too. Ideally, gold coins come in a wide variety:

  1. Different denominations such as 1gm, 2gm, 5gm, 8gm,10gm, 20gm,50gm, 100gm, and 1kilo gold bar
  2. Different Shapes- such as oval, circular, rectangle, etc.
  3. Different certifications- The government of India has set up BIS to ensure customers are not cheated. BIS certifies gold coins for their purity, effective 2017 there are four components that are stamped on the coin to certify its purity namely- BIS logo, Purity in carat & Fineness, the logo of Assaying, and hallmarking center
  4. Different price (depending upon the plain or embossing)

Buying Gold Coins & Bar Online - A safe investment

The question of buying gold coins has always been a tough one as there are numerous options available in the market. But, there are a few aspects that one should look into while purchasing such as:

  1. Availability of denomination of the gold coin
  2. Availability of certified gold coins like hallmarking and Assay certification which gives credibility and proper resale value while selling it back.
  3. Availability of embossing like Lakshmi gold coin, Ganesh gold coin (which is ideal for gifting or for pooja purpose)
  4. Availability of buyback which banks do not offer, only retail Jewellers do. They accept gold by way of adjusting against the customer's purchase and not for cash.
  5. MMTC gold coins are also famous for their purity, they can be bought from any of their retail outlets. However, one cannot exchange these gold coins to them while in need.

Where to Buy Gold Coins and Bars?

There are a lot of options and avenues to buy gold coins in India.

  1. Buying gold coins at retail Jewellery outlets
  2. Buy gold coins & bars online
  3. Buying gold coins & bars from Banks
  4. Buying gold coin from the local goldsmith
  5. Buying gold coin from MMTC(Metals and Minerals trading corporation) which is a government outlet

Typically a gold coin comes in 24K purity only. But some small-time goldsmiths sell gold coins without hallmarking and certification, these gold coins price is charged as per the prevailing rate on the day of purchase but the purity of these gold coins is not guaranteed to be 24K, and exchanging them would not fetch the value for money.  Secondly, one can buy gold coins from banks, all PSUs and private banks sell gold coins that are pure, 24K, certified, and additionally they also come in tamper-proof covers. All these factors make them very premier. When compared to the gold coin prices in the market and that of the bank's price, they are costly by a minimum of 10-15%. 1 gold bar price online can be compared with MMTC outlet to get the exact margins.

It is advised to search for “gold coin rate today” or “gold bar price today” online, observe the gold coins price as well as gold bars price for few days, see the trends, and then make an informed decision. The gold coin rate varies from day to day; hence it is worth to patiently follow the 24K gold bar price before buying.

Secondly, once you have followed the price drop then search “gold coins near me”, identify all the outlets that sell gold bars or 5 gms gold coins or in various denominations, then compare the gold bar value before making the purchase to get the best deal.

Vaibhav Jewellers - The best place to Buy Gold Coin or Bars Online

The wisest way to buy gold coins is either online or in-store from a retail outlet like Vaibhav Jewellers. It is advised to buy gold jewellery online from an established Jeweller who has both online and stores presence along with a gold coin collection in different denominations and weight range. This way you are assured that there is a proper exchange for your gold coin and you can also take advantage of buying hallmarked gold coins that go through strict quality control measures. You can also pre-book and pay for a gold bar price today and take delivery on a day of your choice. The gold bar cost would be calculated as on the date of the purchase, thereby helping you hedge the price fluctuations if any.