From where can I buy gold coins at the lowest rates?

Though buying gold coins from bullion traders is considered as the best and the cheapest option, gold can be bought from jewellers, banks and bullion traders as well.
A 24 karat 10 gram gold coin cost actually has 10 gram of 24 karat gold rate along with making charges, mark-up charges and government taxes.

Here are the options that offer best rate for buying a gold coin.

Gold Jewellers
Generally, local and big brand gold jewellers do deal in gold coins. But here the gold rate is more than what a bullion trader offers. Jewellers add a pretty good amount of mark-up charges (ranging from Rs 1000 to 2000 or more) to earn profits and to save themselves from the fluctuating gold rates. Moreover, jewellers generally increase gold selling rate after when the gold rate rises but doesn't decrease it after the rates go down. Gold jewellers are also not known to give a good buy back rate in comparison to bullion traders.

Bullion Traders
Bullion traders sell gold coins near to the live gold rate with mark-up charges between Rs 200 to 700. As jewellers, they not only buy it back but also give better buy back rates. The business of the bullion traders highly depends on buying and selling gold in bulk thus, they can afford to work on thin margins than the jewellers or banks.

Banks
A lot of banks in India sell 24 karat gold coins but they do not buy them back. Also, gold rate offered by banks is not only more than the market rate but highest compared to bullion traders and jewellers.

1. What are the viable ways to purchase gold coins?You can go to gold jewellers, bullion traders, e-tailers, the Stock Holding Corporation of India, MMTC, a few non-banking financial companies, and banks to buy gold coins in India.
2. Is purchasing gold coins a good investment option?Yes, in fact, you should be ensuring that a minimum of 5-10% of your investment portfolio consists of gold coins. Gold coins can offer you a handsome return even during the economic turmoil.
3. How to authenticate the gold coin you are buying in India?If you are purchasing a gold coin, ensure to check whether it is certified as per the Bureau of Indian Standards (BIS) Hallmark. This makes sure that the gold coin you are purchasing is 24-karat i.e. 99.9% pure.
4. In what quantity can I buy gold coins in India?You can invest in gold coins with a minimum range such as 5 grams, 10 grams, and 20 grams. This offers you the flexibility to make smart long-term investments without emptying your bank account.