A method of manufacturing a coil component including a step of welding a wire to a metal terminal by laser welding capable of making positional displacement of the wire only minimally occur. As a metal terminal, a metal terminal having a connecting portion on which a positioning groove for receiving and positioning a portion of the wire is formed is prepared. The wire is temporarily fixed to the connecting portion in a state where the wire is positioned by being fitted in the positioning groove, and the wire and the metal terminal are welded to each other by irradiating a laser beam. The positioning groove is preferably formed into a V shape in cross section.