Gold Delivers Stability And Value
Gold has historically been a precious metal that has stoically delivered good returns. Of course, it is considered to be a safe haven for investors in times of economic crisis. As international capital markets implode, the price of gold has already crossed $1600 per ounce. Even at these high prices, several investors are choosing to pull their money out of capital markets and invest in gold. But, how can one buy these precious metals safely
Storage For Your Gold And Silver
The Guildhall Depository provides safe, secure storage on a segregated and insured basis with no third party risk. It is located in Canada, a politically and economically stable country.
In a segregated vault storage account the bullion purchased or held within your account is separated from all other vault holdings
As the client, you maintain legal title and ownership. Clients are assured they can always take delivery and/or audit their bullion.
Local Coin Shops And Pawnshops
LCS and Pawnshops have a huge varying degree of trustworthiness and fairness in terms of what products they sell and what type of premium they charge. This would take some scouting, learning, and talking to folks and getting an estimate of what they are charging. In my personal experience with local places in my area, these businesses are largely overpriced. Though, there is a difference between being overpriced and nefariously price-gouging customers.Keep in mind that owning an inventory of Precious Metals as a small business is extremely costly, subject to market loss, needs to be insured, has extremely small margins to work with, on top of security and building leases. So again, there is a difference between fair pricing and nefarious pricing but dont forget to consider these things before you give them a 1-star review online! Some folks enjoy the experience of going in, browsing, picking out what they want, and supporting small business and if that comes with 50 cents or a dollar premium over spot, that is OK!
Don’t Miss: Where To Buy Golden Malrin Fly Bait
Factors To Consider When Buying Physical Gold
If you decide to buy physical gold, youll want to keep a few things in mind:
- Storage: Physical gold requires a secure storage location. While you can certainly keep your gold at home, many investors prefer a custodian. Make sure you research secure options for storing your gold before you buy it, and keep in mind that safe storage adds costs to your gold investment.
- Insurance: If you decide to store your gold at home, you should insure your gold to protect yourself against theft or natural disaster. This can add to the cost of your homeowners or renters insurance. And even if you dont keep your gold at home, youll want to check in on your storage providers insurance policy to determine how its protecting your investment.
- Manufacturer: Because youre making an investment, youll want to make sure youre buying from reputable sources that will help your purchases value grow over time. When buying gold, look for respected producers like Credit Suisse, the Perth Mint and the Royal Canadian Mint.
- Purity: The gold content in the coin, bar or piece of jewelry has a big impact on its value and worth as an investment tool. Ensure any gold you purchase as an investment has the purity level to help it stand the test of time. That means youre probably targeting gold items that are at least 91%, if not 99%, pure.
Buying Gold & Silver Online Vs Locally
In principal, making a purchase from both of these establishments is very similar. You browse their selection until you find some merchandise that appeals to you and then you pay for your purchase. However, there are significant differences between the practices of these stores that can greatly affect both the shopping and the overall customer experience.
The most obvious difference between these two establishments is convenience. With local coin shops, customers are bound to a specific location, which they must physically visit in order to make their purchase. In addition, customers who decide to make their purchases locally will find their shopping restricted to the prescribed business hours of that particular store. In contrast, online dealers are available 24 hours a day and can be accessed from anywhere, which means that customers are free to shop and make their purchases without any location and time constraints.
Customers who have done their research will notice that online dealers can typically offer more competitive prices than their local coin shop establishments. This price reduction is due to the fact that online dealers have fewer expenses to cover. Virtual storefronts usually do not incur the same overhead costs that brick and mortar stores do, such as rent or utilities. As a result, virtual dealers are able to pass these savings to their customers and offer lower product premiums.
You May Like: Can You Buy Gold On Etrade
More Steps To Ensure Safe Buying
There are a few more steps that you can take to protect yourself. Avoid buying from online auction sites like eBay. There is no way to confirm whether the precious metals being sold are genuine. Never buy your silver or gold from individuals or dealers, without checking their reputation first. A list of registered precious metal traders can be found on the BNTA website.
Online Vs Store: Which Is Best Way To Buy Gold
For first time buyers of coins or bars, the following solution may offer the best of both options. Anyone new to gold or silver as an investment or hobby would do well to visit a local retailer and physically view what there is available. Get a good idea of what different products cost and what draws your eye or would be a nice addition to your collection. Then, go online and buy them. You will find them significantly cheaper.
You May Like: Silver Coin With Gold Center
What Is A Reasonable Premium For Gold And Silver
There are a lot of variables that go into answering this but once you get familiar and browse the extraordinary variety of Gold and Silver products, you will start to get a good feel of what is a good or bad over spot premium. Though the variables I mentioned are vast lets go over a few important ones, some folks never really consider.Take two of the same metal type and weight coins minted by two different governments. The 1 oz Silver Maple Leaf by the Royal Canadian Mint vs. the 1 oz American Silver Eagle by the U.S. Mint. Both of these Silver coins are absolutely stunning and serve as the premier Silver bullion for both countries respectfully but there is one difference. The 1 oz Silver Maple Leaf can be purchased at about the current market spot + $2.00 to $3.00 whereas its American counterpart regularly trades at about $4.00 to $6.00 over market spot price. Why is this?Well, in this instance its because the Royal Canadian Mint controls the refining process and the U.S. Mint does not. The Royal Canadian Mint has its own refinery whereas the U.S. Mint actually contracts several private mints to refine the metal and create the blanks used in manufacturing.Other reasons could be efficiency, volume, supply, volatility in the market, among many other variables.
Buying Gold And Silver Online
Buying Gold and Silver online has its pros and cons as well. As we covered above, there is a bit of research you have to do on each company to make sure you didnt accidentally stumble onto a scam website. Besides that, there is much more variety to choose from than a pawnshop or LCS and you can easily tab through prices and find the best prices, for whatever it is your looking at, in live time.Most online bullion retailers dont have an inventory and pool their inventory together. This is because a shoebox of Gold could easily be a million dollars in inventory. The price fluctuation between retailers usually boils down to marketing and business overhead as well as efficiency and company optimization. The legitimate bullion retailers arent ripping you off, they are just adjusting their prices to keep their business running. The biggest misconception in the Precious Metals investment industry is that the retailers all drive Ferraris to work. When in fact, selling retail bullion to investors is the least profitable venture you could ever get into as the margins are extremely small.
Don’t Miss: How Much Is Xbox Gold Per Month
Longtime To Wait For Purchase
Transaction was very easy and Internet friendly. Posted deals were good purchases. Contacted immediately after transaction and they were quick to answer and took all the time I needed with questions at a nice relaxed pace. He made me feel very comfortable and reassured my gut feelings on the purchase. Definitely will do business again. Only complaint I have is I don’t like waiting 8-10 to receive my coins.
Date of experience:September 30, 2015
Reply from Buy Gold and Silver Safely
Hi Patricia, thanks for the nice review and look forward to your future business. Like most gold dealers we have seen suppliers production capacity maxed out and this has caused some delays at present like with your order. This happened once before in 2013 and suppliers caught up quickly. The demand is so great now from the retail side that the delays are still occurring. We do have suppliers that have faster delivery times but they charge more and we would rather see you pay less for your metals and are upfront about the delays which we alert buyers to by phone, email and website. Doug Eberhardt
Selling Gold And Silver
A common misnomer is that you will pay a premium for Gold and Silver when you purchase it but when you go to sell it, you wont even get spot price. This is largely true if you decide to sell it to a local coin shop, cash for gold, or pawnshop. We recommend reaching out to actual bullion retailers to sell your Gold and Silver as often you will be able to sell it at spot with a premium . This is because everyone will inevitably resell the bullion and need to make a profit but this is easily offset if you sell higher than when you purchased it. See the last section Strategies for more elaboration.
A small monster box of 1/2 oz Silver Coins from the Royal Canadian Mint. Photo taken in Dallas, TX at one of Investor Crates warehouses.
Recommended Reading: Can I Buy Physical Gold In My Ira
How To Buy Gold Online
Like many other products buying gold online can be as easy as point-and-click. The best dealers have a well-organized website with easy navigation to find and compare products by category . When you find a product you want, you click on it to review the details. As with any online shop, you can add it to your cart. You can then enter the quantity you want. From there, you can continue to shop or move on to checkout.
Once you start the checkout process with most dealers, your price is locked in for a short period, typically 10 to 15 minutes. You need to complete your purchase before the pricing expires, or you may see the price adjusted up or down based on how the market is moving.
Once you complete checkout, you will receive an email confirmation along with ongoing shipping notifications.
How To Choose A Reputable Gold Dealer
Unquestionably, a company’s reputation is the number one criteria to evaluate and compare gold dealers. The single best measure of a company’s reputation is its transaction history, which can be assessed by customer reviews. Companies with a large number of reviews are typically more established or have built up their trust and reputation through a greater number of transactions.
Additionally, you should look for the following when evaluating a dealer’s reputation:
Recommended Reading: How Much Is Gold Selling For Per Gram
Have Questions About Investing In Gold And Silver
This blog is for entertainment purposes only and should not be considered advice. We urge you, if you have more questions, to reach out to a certified financial advisor and seek counsel before investing in Gold, Silver, Platinum, or anything for that matter. Do your due diligence and ALWAYS know the risks of investing your hard-earned cash!If you have any questions about our services specifically, we are always here to help. You can reach out to us by scrolling down a tad bit further and click on the ‘contact us’ button to get a hold of us.As always, we hope we were able to clear up some things about the industry and always appreciate you guys sharing this with friends!
Buying Gold & Silver From Jm Bullion
By purchasing their gold and silver online, customers are able to reap a number of benefits that simply are not available at local coin shops, which is why we encourage you to make your purchase online with us at JM Bullion. We provide our customers with wider selections, lower prices and safer transactions as well as free shipping on orders over $199 and insurance on all orders. If you would like to learn more about the benefits of buying online from JM Bullion, please give us a call at 800-276-6508. You are also free to reach us through live chat or online forms.
Also Check: How To Stream Nbc Sports Gold
Best For Gold Coins: Bgasc
As its name implies, BGASC is one of the best sources for gold bullion coins sold at reasonable prices, making it our choice for the best online gold dealer for coins.
Best selection of gold coins
Competitive pricing on gold coins
Excellent customer support
Three-day return policy
Although BGASC offers a complete lineup of gold products, its primary focus is on selling gold bullion coins. Their selection of coins is vast, prices are highly competitive, and customer service is excellent, which is why BGASC is our choice for the best online gold dealer for coins.
BGASC have managed to build a solid reputation, especially as a gold coin dealer. In addition to a great selection of all the essential standbyssuch as American Eagles, Canadian Gold Maples, South African Krugerrands, Pre-1933 U.S. Gold, and Australian Gold Kangaroosthey maintain an extensive inventory of premium and rare numismatics. It also offers silver and platinum products. They do offer gold bars in all the standard sizes.
Their products are priced very competitively. Their 1 oz. Gold American Eagle Coin was the cheapest of the vendors in this article.
One of the downsides of BGASC is its limited payment options. Currently, they only allow payments with paper checks , PayPal , credit and debit cards , and bank wire transfers .
Shipping is free for orders of $5,000 and over. While that may be a high bar for smaller investors, its $9.95 fee for orders under $5,000 is still affordable.
Gold Silver Rally On Safe
– Gold and silver prices are solidly higher and near daily highs in midday U.S. trading Wednesday, on safe-haven demand amid a nervous marketplace as the calendar is set to turn to what can be a tumultuous month of October for stock and financial markets. The U.S. dollar index is trading solidly lower at midday, bond yields have also dropped during today’s session, and crude oil prices are solidly higherall bullish daily outside market elements for the metals markets. Gold prices did drop to a nearly 2.5-year low overnight. December gold was last up $30.00 at $1,666.00 and was up $0.468 at $18.805.
|BMO downgrades gold and silver prices for 2023, upgrades uranium outlook|
Global stock markets were mostly lower overnight. U.S. stock indexes are higher at midday on short covering. The marketplace was somewhat assuaged overnight when the Bank of England made a surprise announcement that it will begin purchases of U.K. government bonds in order to stabilize the rattled U.K. bond market. The International Monetary Fund said the U.K. government should re-examine its stated plan to stimulate its economy through massive borrowing and bond sales.
Also Check: When Is The Next Golden State Warriors Game
Reliable Stores Of Wealth
Precious metals are historically very reliable stores of wealth that have helped individuals protect their purchasing power for several centuries. While fiat currencies issued by governments can become worthless over time, precious metals never do. Also, unlike other investments, loss of principal is not a risk with owning silver and gold you always have your physical metal.
I Found Buy Gold And Silver Safely And
I found Buy Gold and Silver Safely and Doug Eberhardt online doing research about purchasing gold and silver. Being new I wanted a trustworthy reputable and reliable source. Doug was it! Not only did he write books on exposing scams he offers the lowest prices I could find. I worked with Doug to buy gold and silver and I trust Doug completely and will continue to work with him. highly recommend Doug!
Date of experience:February 01, 2021
Read Also: Where To Sell Old Gold
Physical Vs Paper Metals
Among the major decisions that a person will encounter during the initial investment process is whether to purchase actual physical metals versus paper metal, but before they can make this decision, it is important to understand what these terms mean and how each one operates. The term physical metal refers to an actual piece of precious metal bullion that has been purchased by an investor and delivered to said investor. These precious metals are restricted to the sole use of the purchasing investor, who is free to sell or trade these items as they see fit. No third party individual or establishment is allowed access to them. Although physical metals possess higher transaction costs than their paper counterparts, many investors consider them as the only true way of owning precious metals.
While paper metals offer lower transaction costs on precious metals investments, there are many risks and drawbacks to these forms of investments. In almost every instance of paper metal investing, the precious metals themselves are held or controlled by a third-party company or institution and offer investors limited accessibility. Should there ever be a financial crisis, these establishments have the right to seize your precious metals, leaving you with nothing more than a documentation of ownership. For investors seeking more security and personal control over their precious metal assets, physical metal investments are typically a better option.