If you use Fidelity Investment, you know that it’s a great site for individual investors and employers alike. Fidelity may have also helped you manage your assets and set personal financial goals when necessary.
That begs a certain question, though: Can you buy gold on Fidelity?
Absolutely! Fidelity is perhaps one of the few finance managing websites that allow their users to deal in precious metals, including gold. You can choose to buy, sell, or trade these valuable items whenever you want.
With that said, this guide will help you explore what kind of gold you can buy on Fidelity and how you can go around trading it on the site. Let’s begin!
Can You Purchase Gold On Fidelity?
Of course! You can buy, sell, or trade gold coins, bullions, and bars on Fidelity. EFTs and gold mine shares are also available.
That said, understanding what Fidelity is actually about will help you figure out why you can buy gold on this site.
What Is The History Behind Fidelity?
For starters, the main focus of the Fidelity site is to support investors during their financial journey as well as facilitate the holding of assets and valuables. Fidelity has been around for more than 75 years, with its numbers continuously growing.
As of June 2022, for instance, Fidelity is home to almost 40 million individual investors and approximately 9.9 trillion dollars worth of assets. The daily average of occurring trades on Fidelity makes up 2.8 million as well.
One of the best features of Fidelity is how inclusive the website is too. The company’s staff makes sure to include information investors will be rather interested to know. This info encompasses asset equity, rates of fixed and high income, as well as global asset allocation divisions.
As a result of their inclusive and great work, Fidelity branches span different countries on multiple continents, such as North America, Asia, and Europe. Their global presence has allowed them to work with over 57,000 associates.
Why Can You Buy Gold On Fidelity?
Since the gold market has always been the safety net of volatile economies, it makes sense that Fidelity will allow its users the luxury of investing in gold. As one of the biggest financial companies, it had to give investors the choice to put money in precious metals too.
That’s also because gold prices typically rise in times of inflation, making them a great choice to put your money in while using Fidelity. Trust that the website offers you straightforward prices and commission-free trades of such valuable metals.
What Kind Of Gold Can You Buy On Fidelity?
Lucky for most Fidelity users, you can depend on the site to buy or trade in gold bullion, bars, and coins. You can also browse silver, platinum, and palladium-made versions of these items as well.
That said, however, the following are the seven types of gold choices you will find on Fidelity:
- Gold American Buffalo coins
- Gold American Eagle coins
- Gold Australian Kangaroo coins
- Gold Austrian Philharmonic coins
- Gold Canadian Maple Leaf coins
- Gold South African Krugerrand coins
- Gold bullion bars
On the other hand, if you’re planning to use Fidelity to hold your physical gold, then expect to spend some extra money on Fidelity’s commission schedule as well as a steep markup fee.
Additionally, both physical and ‘online’ gold are subject to instability, either way, so pick the latter method for better safekeeping.
Can I Buy Gold In A Fidelity IRA?
IRAs, sadly, are subject to certain federal laws. Not only that, but the government restricts these accounts from making particular investments—especially when it comes to precious metals.
An IRA, or what’s otherwise known as an individual retirement account, is where people with an earned income set up a long-term savings plan.
Fortunately, this is an available account option with Fidelity. It’s not a completely bad idea either to put some gold coins into that account as well, mainly because they’re sure to increase in value as time goes by.
In other words, not every type of gold coin we went through above can be put in an IRA account. In fact, the only kinds of precious coins you can buy or trade are the following:
- Gold American Eagle (1 oz, 1/2 oz, 1/4 oz, and 1/10 oz)
- Gold American Buffalo (1 oz)
- Silver American Eagle (1 oz)
- Platinum American Eagle (1 oz)
- Bullion Quality Bars
How To Purchase Gold On Fidelity
As we’ve established, we believe that putting your money in a gold ETF instead of physical gold is the better investment choice. That’s primarily because ETFs don’t require a minimum amount to invest in them.
Not only that, but ETFs are highly liquid as well. In other words, you can easily sell and buy them without spending too much on extra fees (often there are none at all!).
Before we get into how to buy them though, note that the trade market is open from Monday to Friday. Their business hours are from nine in the morning to four in the afternoon (Eastern time).
Ways To Buy ETF Gold On Fidelity
Since we’ve hyped them up, it’s time to show you how to invest in ETFs by providing a quick step-by-step guide on buying them.
1. Pick Your Ticker
Tickers in stock help keep investors updated on the prices. On Fidelity, you can choose between two tickers when buying EFTs. These are iShares gold trust (IAU) and Spyder (GLD).
We recommend the IAU ticker because of its low expense ratio.
2. Fill In Your Information
From the home screen, go to the tab named ‘Accounts & Trade’. You’ll find it in the upper left corner of the website, beneath the Fidelity logo.
Start filling up the informational tabs in front of you. There’s one for the kind of trade you’re doing, and that’ll be ‘Stocks/ETFs’. Choose the type of account you’re trading with or buying from (individual, business, IRA, etc.).
Finally, pick the ticker you’ve decided on from the dropdown menu under the tab ‘Symbol’. Then select the ‘Buy’ button.
3. Buy Your Gold
The site will show the minimum amount of cash you need to invest in your ticker’s gold trust. If you have enough in your account to meet that requirement, you can easily purchase whatever number of shares you want or can afford.
On the other hand, what happens if you don’t have enough money but still want to invest?
Good thing Fidelity offers a new, incredible feature called ‘Fractional Shares’. This upgrade allows even those broke to put money in share slices.
4. Investing In Share Slices
You will find two options, namely ‘Dollars’ and ‘Shares’. These buttons determine how you want to enter the market.
Do you want to enter a fixed dollar amount and see how many shares it gets you? Or do you want to pick the number of shares you want to have by yourself?
Either way, you have to choose the method of trading next (‘Market’ or ‘Limit’).
5. Choose The Order Type
The ‘Market’ option is the most common because it allows investors to trade, sell, and buy their gold shares whenever they like.
The market option executes your order at the best available prices. Plus, it operates faster than the ‘Limit’ choice.
That’s because ‘Limit’ means that you predetermine the price to buy the ETF at and that the trade won’t go through until the ETF falls to that amount—which can take some time.
Also, watch this video to learn more about it:
In Summary
Can you buy gold on Fidelity? Absolutely! Given that Fidelity is an asset-managing company that specializes in financial deals and investments, the website opens the floor for users to buy, sell, and trade various types of gold coins as well as bullion bars too.
Sure, the gold market is affected by many factors, but it’s always a safe place to invest when the economy is unstable.
Martin Thomas, the owner of Sutter Gold Mining, is a true gold investment aficionado. With decades of experience and a wealth of knowledge, he is the go-to source for anyone navigating the vast world of precious metals. Martin has dedicated decades of his life to understanding the intricacies of the precious metals market and the best strategies for maximizing returns. His expertise in this field is unmatched, and his commitment to helping others make informed investment decisions is unwavering. With him as your guide, you’ll gain a deeper understanding of the gold market and learn how to make smart investment choices that will benefit you for years. With his guidance and wisdom, you will never have to worry about taking the wrong investment step again.
