Buying Gold Cheap: Best Places to Start Shopping?

February 21, 2020 - Jewelry & Luxury Items

Purchasing gold is a great way to diversify your assets.

Not to mention it’s one of the safest assets you can hold. But, it’s not as easy as walking down to the local ATM and withdrawing gold coins.

If you want to invest in gold, you’ll need to learn how to buy it. And, buying gold cheap is a good place to start.

So, where can you buy gold cheap? More places than you may think. Depending on what type of gold you’re planning to buy, of course.

If you’re ready to invest in your future, then you’re in the right place. In this article, we’re breaking down how to purchase gold for less up front. Keep reading to learn more.  

Buying Gold Cheap: A Guide for How to Buy Gold

Gold is the safest investment there is with potential rewards that far outweigh any risk. This is an ideal investment for beginners.

As with any type of investment, it’s best not to ‘keep all of your eggs in one basket’ as the saying goes. Make it just one healthy aspect of your diversified portfolio in order to see real gains in your financial future.

Without further adieu, let’s see how you can get your hands on some of the shiny stuff.

Friends and Family

Almost everybody has at least one piece of scrap gold laying around. From broken chains to lost earrings, it’s all worth its weight.

Start by asking friends and family members if they have any gold they’d be willing to part with. Make them an offer they can’t refuse. Just make sure to leave yourself a little room for profit.

Place an Ad

The newspaper’s classified section or an online classified site like Craigslist is a great place to find people with gold. Consider placing an ad in the Help Wanted section as well. Some people in search of jobs may be willing to part with gold to help secure their finances.

Internet Auctions

Internet auction sites like eBay have many sellers with various items. Make sure to factor in taxes and shipping costs when you bid to get the best deal.


One of the easiest ways to get your hands on gold scraps, especially, is to develop a relationship with your local pawn shop. Not only do they sell gold, but they may be able to refer folks to you when they’re not interested in something someone has to sell.

Final Thoughts

Buying gold cheap is easy if you know where to look. Keep these tips in mind as you begin your journey investing in gold and you’ll have a small stockpile in no time.

It’s also important to have proper storage for keeping your gold safe. Consider a home safe or safe deposit box at your banking institution.

If the logistics of buying gold and storing it feels overwhelming, you can always opt to invest in gold ETFs (exchange-traded funds) instead. Talk to your financial advisor to assess the risks and gains.

Finally, if you’re interested in buying OR selling gold, check out this page detailing how PawnGuru works. We’re here for you!


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