Gold prices have been on a record-breaking roller coaster — after reaching an all-time high of more than $5,100 in late January, the precious metal’s price has been hovering around the $5,000-per-ounce mark in mid-February.
In times of economic and political instability, gold is typically seen as a safe-haven asset. It can become particularly popular during periods of geopolitical turmoil, leading to higher prices.
Buying gold bullion from retailers is one way to get in on the action. Costco’s gold bars have become popular, thanks in part to the store’s free shipping and relatively affordable prices, but they’re only available in one-ounce increments, and only to members.
If you’re not a Costco member but want to buy gold or prefer investing in smaller increments, Walmart offers some options. The retail giant sells comparable brands to those at Costco, and there’s no membership requirement.
Here’s what you need to know about buying gold at Walmart.
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How to buy gold at Walmart
How much is one ounce of gold at Walmart?
How can you buy gold from Walmart?
You can buy gold from Walmart online the same way you’d buy paper towels or toothpaste — it’s purchased through the company’s website and shipped to your home. However, it’s only available online.
What’s more, the gold bars aren’t sold or shipped directly by the retail giant but by several other vendors. Walmart’s site serves as a marketplace where many sellers list their offerings. And many of the available options come with free shipping.
Be sure about your purchase before you make it — all the gold bullion items we found on Walmart’s site were not returnable.
Pros and cons of buying gold from Walmart
Here’s what you need to know before buying gold from Walmart.
Pros of buying gold at Walmart
- Transparent pricing: You don’t need to sign in to an account to check the price of an ounce of gold.
- No membership required: Unlike Costco, you don’t need a membership to buy gold at Walmart.
- Quality options: Sellers include reputable online gold dealers. Additionally, the bullion offered is from trusted refinery brands.
- Option to buy gold by the gram: While retailers like Costco only offer the option to buy gold in a full ounce, Walmart offers 5-gram bullions, which are cheaper than buying a full ounce.
Cons of buying gold at Walmart
- No returns: You can’t return gold bought through Walmart’s site.
- Not available in-person: If you don’t want to buy online, Walmart might not be the right fit.
- May sell out: Several of the items we saw on Walmart’s site had low stock or had sold out.
Alternatives to buying gold at Walmart
Buying gold at Walmart is possible. However, it may not be the right fit for everyone. After all, once you get the gold, you’ll need to have a secure place to store it. And, when you’re ready to sell, you’ll need to work with a different company to turn it into cash.
If you want to avoid these issues, using a gold IRA could be a better fit. These self-directed investment accounts can hold only gold and other precious metals and must be managed with a custodian institution that stores your gold in an authorized repository. These retailers also typically offer a buyback program that lets you convert your gold into cash at fair market value, with minimal hassle.
Additionally, these IRAs have the same tax advantages as standard IRAs.
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Walmart gold FAQs
Do I have to pay taxes on gold from Walmart?
If you sell physical gold for a profit in the future, you may owe a capital gains tax on the sale. The IRS considers gold bars a collectible, so the tax is based on your marginal tax rate up to 28%.
Is it a good idea to buy physical gold?
Buying physical gold is one way to invest in the precious metal. But, it does involve security risks if you don’t have a proper way to store it.
How can I invest in gold?
It’s possible to invest in gold by buying physical bullion. However, you need a secure way to store it and protect it against theft or loss. Using a gold IRA or purchasing a gold ETF or mutual fund is an alternative way to invest.
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