Where to buy gold coins in India?

When you think about buying gold coins – the first place that comes to your mind is probably the local jeweler, but there are a lot more options than that at your disposal, if you want to buy gold coins.

In this post I am going to look at some of those options.

1. Buy gold coins at the bank: A lot of Indian banks sell gold coins these days. The benefit of buying gold coins from a reputed bank is that you have a lot more peace of mind, as far as the quality of the gold coins go. The disadvantage of buying gold from a bank is that they normally charge a premium on the gold coins, and you might be paying extra than what you would have otherwise paid at a jeweler. Another disadvantage is that normally banks don’t buy back gold from you. If you buy gold from a reputed jeweler, then in most cases they will buy it back from you.

2. Buy gold coins at the post office: This might come as a surprise to some of you, and it certainly surprised me, but it is true that the Indian Post Office sells gold coins.  They too charge a premium on the gold coins they sell, but it seems that it is less than that charged by the bank. I am not sure about this though, and it is best to check this point yourself. Like banks, the Post Office will not buy the gold back from you, and only a few post offices are allowed to sell gold coins, so this option might not even be practical for you.

3. Buy gold coins online: I saw at least a couple of websites that were selling gold coins online, and that seemed to be legitimate. I am not linking to them because I couldn’t read any reviews on them, and do not know any one who has bought gold coins online in India. Further, when I checked the price of a 2 gram gold coin on their website and compared it with the gold coins SBI is selling, – I found that the online store is charging a higher price. The online store was asking Rs. 3998 for a 2 gram 99% purity gold coin, whereas the price I saw at SBI was Rs. 3,760. This doesn’t make much sense to me, and personally, I would rather go to a bank and buy gold coins, rather than pay extra to an online retailer to buy gold coins.

4. Buy gold coins from nation wide retailers like Tanishq: You can go to a reputed nation-wide jeweler like Tanishq, and can buy gold coins or bars from them. This offers you peace of mind because they have a strong reputation, and their good distributions means that this will be a convenient option for many of you.

5. Buy gold coins from your local jeweler: Most Indians will have a family jeweler, and if they sell gold coins or bars, then you might just find that this is the cheapest option. Furthermore, they will be willing to buy – back the gold coins as well, so that is an added benefit of buying from them.

These were five options that I could think of where you could buy gold coins in India, and I’d like to hear if there are any options that you know of and I missed out on.

150 thoughts on “Where to buy gold coins in India?”

  1. Best gold price best service and best buy back just go Bangalore Refinery (www.bangalorerefinery.com)or Gold centre (www.goldcentre.in)to buy gold and silver coins and bars.

  2. Hi would like to recommend http://goldcentre.in/ They are tusted Gold Buyer and Refiner for over 25 Years. Bangalore Refinery is its parent company. Gold Centre Is located in Bangalore, India. The best part is they also exchange old gold and Melt it in front of you.

  3. Nowadays,gold coins are sold at very reasonable rates online on various portals & various discount coupons are available online.

    At Snapdeal & ebay,you will be suprised to find rates too competitive & that too,delivery at your doorstep.No need to go to Bank & retail shops.

    Also,they have Paisapay & Trust Mark which means that after u confirm that the item received is proper & upto the mark,they will make payemnt to the seller afterwards which secures you totally.

  4. Idk if its best to invest in silver bullion at this time, seeing as it really hasn’t exploded like some experts said it would.

  5. I daily buy 1 silver coin of 10 gms
    Will I get any benefit in future with this
    I buy the coin from any local shop then how will I sale this in future…

  6. Hi,
    I today read an article on business standard that one can buy/sell gold and silver online through ” BULION INDIA ” platform at wholesale price.They are offering their retail clients to purchase gold and silver as if they were buying shares and still use them physically whenever they need them.
    Is this is one of the right way of buying bullions? Kindly suggest please

  7. In addition to the above well known sources, you can also buy Gold Bars/coins from MMTC Ltd.,from their showrooms -Sanchi. Even about 8 years back itself, I had bought 5/10/20 gm bars from MMTC at competitive rates

  8. after reading this post iam in a dilemma where can i buy a gold coin whether at bank or post office or through online…..suggest me plz

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