How to buy gold from Latin America

The usual ways to buy physical gold or ETFs from the region, and what to check before choosing a dealer or broker.

Buying gold from Latin America is possible through several routes. Each has different requirements, costs and risks, and not all are available in every country.

Physical gold in your country

The most common routes are:

• National banks or mints, in countries where they sell coins or bars to the public.
• Established precious metals dealers.
• Jewelers and buy/sell shops, which tend to focus on jewelry rather than investment gold.

What to check before buying:

1. That the seller has a physical address, a track record, and issues an invoice.
2. The product's purity and weight, in writing.
3. The total price compared with the day's spot price (use our calculator): the difference is the premium you pay.
4. Whether they'd buy it back, and at what price.
5. How it's delivered and whether shipping is insured.

Gold ETFs through a broker

To buy an ETF you need an account with a broker that accepts residents of your country. It can be a local broker with access to international markets or an international broker.

What to check before opening an account:

1. Regulation: which authority supervises it, and whether you can verify that on the authority's own website.
2. Whether it accepts residents of your country and what documents it requires.
3. Fees: per trade, custody, inactivity, deposits and withdrawals.
4. Currency conversion: what it charges to convert your currency to dollars or euros.
5. How you deposit and withdraw money, and how long it takes.
6. Which gold ETFs it offers and where they're domiciled.

Be wary of any platform that promises fixed returns on gold, pressures you to deposit quickly, or won't let you verify its regulation.

What to consider in your country

Each country has its own rules on buying foreign currency, sending money abroad, declaring foreign investments and taxing gains. Before investing outside your country, check your tax authority's rules or talk to an accountant.

FAQ

Do I need a lot of money to start?

For physical gold, the practical minimum is the price of the smallest piece you can buy, plus the premium. With ETFs you can start with smaller amounts, depending on your broker.

How do I know if a broker is trustworthy?

Check its registration directly on the website of the regulator it claims, not just on its own site. If you can't verify it, don't deposit.

Is it legal to buy gold in my country?

Generally yes, but rules on currency, imports and asset declarations vary by country. Check the local rules.