Find the Best Gold and Silver Dealers at Any Price
Alex Long- Investors can buy gold and silver in the form of bullion coins, bars, and rounds.
- Precious metal coins include American Eagles, Canadian Maple Leafs, South African Krugerrands, Chinese Pandas, American Silver Eagles, British Britannias, and Australian Kangaroos.
- Investors can also buy gold, silver, and platinum bars.
- Gold and silver can be purchased through dealers, the commodities market, and through the physical market.
- Gold and silver are precious metals that have held strong investment appeal for centuries.
Gold and silver are precious metals that have held strong investment appeal for centuries. Today, gold continues to hold its value as a store of value and means of exchange, while silver is used in industries ranging from photography to medical applications.
The precious metal is regularly bought and sold on the open market. While bullion dealers offer gold and silver at fixed prices, most dealers also sell coins and bars from commemorative to rare.
How to Buy Gold and Silver
Gold and silver are valuable assets, but they demand a significant investment. However, if you would like to invest in gold and silver, you can do so online or in person.
Gold and silver dealers often offer different prices, depending on whether you buy in bulk or in small quantities. Their prices also depend on the type of gold and silver coin or bar that you purchase. While bullion dealers often sell precious metals at higher prices, coin dealers offer lower prices but offer rare coins that may be more valuable in the future.
Types of Gold and Silver Dealers
Gold and silver dealers come in many forms. These include:
Licensed coin dealers
Precious metal dealers
Jewelry dealers
Online bullion dealers
Coin shops/dealers
Gold and silver wholesalers
Silver and gold buyers
Wholesale bullion dealers
Online brokers
The advantage of buying gold online is convenience. However, the disadvantage is price. Many online dealers carry large overheads, including warehouse storage, advertising, and sales staff.
A coin shop or dealer is typically a local store or kiosk that sells silver and gold coins. A coin shop or dealer is a good place to buy bullion if you have the opportunity to physically examine your gold before a purchase.
Buying Gold and Silver Online
Why buy Gold and Silver online?
Online dealers come to the market with lower costs than physical dealers.
Online Gold and Silver dealers possess the processing power, technology, and manpower to offer much lower price points on Gold and Silver.
Purchasing Gold and Silver Online:
Precious metals dealers are very aware of the internet's effect on Gold and Silver sales. Most online Gold and Silver dealers offer the same prices as physical dealers, if not a lower price.
However, don't let lower price points cause you to overlook important factors such as reputation, customer service, and dependability.
Local Gold and Silver Dealers
If you're shopping locally, be sure to check with your local gold store to determine if it's a reputable dealer.
The Better Business Bureau (BBB) is a good place to start if you're shopping for local gold dealers. The BBB rates local dealers on factors such as their general reputation, customer satisfaction, and length of time in business.
If you're shopping online, check with your state's attorney general's office to see if any complaints have been filed against the dealer. It's also a good idea to check online review sites, such as Yelp, to see if any complaints have been filed.
Buying Gold and Silver in Person
If you're looking to buy physical gold or silver, the first thing you need to know is whether there's an LBMA-approved refiner near you.
The London Bullion Market Association (LBMA) is a group of 12 international gold and silver refiners, including Johnson Matthey, PAMP Suisse, and Credit Suisse. Buying gold and silver from these dealers ensures that what you're buying is of the correct purity of metal and that it hasn't been tampered with.
In addition to LBMA-approved refiners, there are many smaller dealers who sell gold and silver bullion coins and bars. My recommendation is that you find a dealer who's close to where you live, but make sure you buy from a dealer who's a member of the LBMA.
Buying Gold or Silver Online
While buying gold and silver bullion online is convenient, it isn't always as secure as buying in person or from a local dealer.
When ordering gold or silver online, make sure that the site you're buying from is approved by the LBMA. And be sure that any gold and silver you buy is insured.
