Can you buy gold from a bank? Yes at a few U.S. banks, but most, including Chase, Bank of America and Wells Fargo, don’t sell gold coins or bars at their branches.
Below, you’ll see which banks sell gold, what you’ll pay for it, and where to buy gold when your bank doesn’t carry it.
Key takeaways
- A few banks sell physical gold, including Leader Bank in Massachusetts and EverBank online.
- Some large banks’ wealth arms arrange it for high-net-worth clients.
- Most big banks offer gold ETFs through their brokerage arms in place of coins and bars.
Which banks sell physical gold?
- Leader Bank: A Massachusetts community bank that sells 10-gram Lakshmi gold bars.
- EverBank: Sells gold, silver, platinum and palladium coins online. You’ll need to open an EverBank Performance Cash Management Account first, and the minimum for coins is $7,500.
- Wealth management arms: According to GoldSilver, the wealth management arms of some large banks can arrange physical gold for high-net-worth clients through a relationship banker.
- Small local banks: Some community banks sell circulated gold and silver dollar coins, often ones that customers have turned in, and some sell only to people who already have an account.
Most big banks point customers who want gold to their brokerage arms instead. This means gold ETFs which track the price of gold. You own shares of a fund, so you never hold the metal yourself.
Why most banks don’t sell gold coins and bars
- Price swings: Gold prices change every minute. Banks would have to update prices constantly, and most aren’t set up to operate as gold dealers.
- Storage and insurance costs: Holding physical gold at a branch means added security, insurance and audit costs.
- No trained staff: Authenticating, weighing and selling gold bullion is a specialized skill, and standard teller training doesn’t include it.
- Low demand: A branch that rarely sells gold has to spread the extra work and overhead over very few sales, which increases prices.
What you’ll pay for gold at a bank vs. a dealer
Every seller charges a premium, which is the amount you pay above gold’s spot price. The premium covers the costs of minting, shipping and selling the gold.
Branch banks that sell gold coins often charge more. Outside of banks, premiums depend mostly on the product. Small pieces like fractional gold coins cost more per ounce, because the cost of making them is spread over less gold.
The form you choose also changes what you pay. Bars are cheaper per ounce, but coins are easier to sell one at a time when you only want to sell part of your gold. Even with their higher premiums, coins were bought in 97.3% of Swiss America’s gold and silver orders from January to July 2026.
Buying gold from a bank vs. a gold dealer
Banks and dealers differ most in selection and in whether they’ll buy your gold back.
| Bank | Precious metals dealer | |
| Where you buy | A few banks, at a branch or online | By phone, online or in person |
| Selection | Limited, often a few coins or small bars | A wider range of coins and bars |
| Selling back | Branch banks rarely, if ever; EverBank buys back from its customers | Many dealers have buyback programs |
Buying from a bank you already use is convenient, and banks are regulated institutions. If the gold is for retirement, though, you’ll also need the right kind of account. The IRS only lets an IRA own bullion when a bank or approved non-bank trustee keeps physical possession of it, so gold you take home from any seller can’t go into an IRA.
Where to buy gold if your bank doesn’t sell it
- Full-service precious metals dealers: You’ll work with a representative by phone or in person, talk through which coins and bars fit your goals, and the dealer places the order for you.
- Online dealers: You pick products from a catalog and check out on your own.
- Local coin shops: A coin shop lets you see the gold in person before you pay. Inventory is smaller, and prices and advice vary from shop to shop.
Swiss America is a full-service dealer that sells by phone. You call, discuss your goals and what you’d like to buy with a representative, place your order, and the metals are shipped to you.
Whichever dealer you choose, start with its history. A long record is a good sign that a company is legitimate. Also look for reviews, customer education and a buy-back program for when you’re ready to sell.
We covered what first-time gold buyers should know on our podcast, The Secret War on Cash:
Storing gold in a bank safe deposit box
If you keep your gold yourself, a bank safe deposit box is one option for storing physical gold, and coins and small bars fit easily.
FDIC deposit insurance doesn’t cover the contents of a safe deposit box, and banks generally don’t insure them either. The FDIC suggests asking your homeowners or renters insurance agent about adding coverage for your metals.
Many banks also require you to have an account with them to rent a box, and you can only get your gold during branch hours. For a larger amount you’d rather not keep at a branch, a precious metals depository is a good alternative. Depositories are built to store bullion, and they insure the metals they hold.
Final thoughts on buying gold from a bank
When your bank doesn’t sell gold, a dealer with a long track record gives you a wider choice of coins and bars. To learn more about options, connect with the Swiss America team today.
Can you buy gold from a bank? FAQs
Does Chase Bank sell gold or silver?
No. Chase branches don’t sell gold or silver coins or bars.
Does Bank of America sell gold coins or bars?
Bank of America doesn’t sell gold coins or bars at its branches. Its brokerage arm, Merrill, lets you buy gold ETFs.
Does Wells Fargo sell gold?
Wells Fargo doesn’t sell physical gold. You can hold gold ETFs in a Wells Fargo brokerage account, and for coins or bars, you’d buy from a dealer.
Do banks buy gold?
Most local bank branches rarely, if ever, buy gold back. EverBank is an exception for its own customers. If you bought your gold elsewhere, the dealer you bought from, with a buyback program is usually the simplest route.
The information in this post is for informational purposes only and should not be considered tax or legal advice. Please consult with your own tax professionals before making any decisions or taking action based on this information.
