Gold $2,027.95 0.35%
Silver $23.91 2.63%
Platinum $891.13 3.08%
Palladium $946.23 3.18%
McGruff Gold Dealers New York Rochester

Buy Gold Online in Rochester, New York

Many Rochester residents invest in gold as its price steadily increases over time. As a result, gold investing is a long-term growth asset that acts as a hedge against inflation. At the same time, gold investment can be an excellent portfolio diversification tool for investors. If you’re considering buying gold bars or coins in Rochester, consider the gold investment options available from the dealers listed below.

Types of Precious Metals Investments

If you’re considering investing in gold, the most popular assets to choose from include gold coins, bars, and gold IRAs.

Buy Gold Coins

Gold coins are manufactured by government mints, including the U.S. Mint, Royal Canadian Mint, Royal Mint of the United Kingdom, Central Mint of the People’s Bank of China, and Perth Mint in Australia. They often cost more than their face value because of the coin’s demand, rarity, scarcity, and design elements. Gold coins are available in different sizes and denominations, ranging from one-tenth ounce to ounce. A certificate of authenticity accompanies all gold coins to prove legitimacy.

Buy Gold Bars

Gold bars typically have the highest purity standards, with investment-quality gold bars having an international standard of 99.5%. They come in various sizes, ranging from one gram to 400 ounces. For instance, smaller bars are made by minting rolled gold sheets. In comparison, larger bars are produced by pouring molten gold into molds. Nonetheless, a bar’s price is determined by the gold content rather than its form. Regardless of the size, gold bars are stamped with the manufacturer’s name, weight, and purity.

Open a Gold IRA

A gold IRA allows investors to hold IRS-approved physical coins, bars, and precious metal stocks in their retirement accounts. It functions like a traditional IRA but is funded using physical gold rather than paper assets.

Invest in a Gold IRA in Rochester

Rochester residents who want to invest in gold or invest in silver can contact a local or online gold seller or dealer to set up their gold IRA account. They can also roll over an existing IRA. Typically, a representative from the gold company will walk you through the setup process, including choosing a custodian, IRS-approved products, and a depository.

The following accounts are eligible to roll over into a gold IRA:

Traditional IRA
Roth IRA
401(k)
403(b)
457(b)
SEP IRA
SIMPLE IRA
Thrift Savings Plan (TSP)
When rolling over an IRA, make sure the transfer is completed within 60 days. Otherwise, you may incur penalties for early withdrawal.

Buy Gold and Silver Coins, Bars, and Bullions Online in Rochester

Popular gold coins:
U.S. Saint-Gaudens Double Eagle
U.S. American Eagle
Canadian Maple Leaf
Mexican Libertad
Chinese Gold Panda
British Sovereign
South African Krugerrand
Austrian Philharmonic
American Buffalo
Australian Kangaroo
British Britannia
Popular gold bars:
Credit-Suisse
Johnson-Matthey
Engelhard
PAMP Suisse
UBS
Sunshine Minting
Peth Mint
ScotiaMocatta
Heraeus
Holy Land Mint

Coin Mints in Rochester

The West Point Mint was established in 1937 in New York. The Mint first served as a storage facility for silver bullion. Today, in addition to serving as a storage facility, the West Point Mint also manufactures gold, silver, and platinum American Eagle Bullion and commemorative coins authorized by Congress.

As of 2019, the facility holds 22% of the U.S.’s gold reserves, which is around 54 million ounces of gold. The West Point Mint inscribes its coins with the “W” mint mark to indicate the minting facility.

Precious Metals Buying Guide by State

Click on your state to learn more about purchasing gold or investing in a gold ira in your area.
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McGruff.com is not an agent or representative of any gold company or institution, and does not make any decisions about gold. The precious metal market has inherent risks. You should consult with a financial advisor before making any decisions. Submitting your information on this website does not mean that you will be approved for gold exchange. McGruff.com does not endorse any specific company. You should research all available gold exchange options for your situation. For questions about your gold exchange, please contact the gold company directly.
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