If you’re a bullion investor, you are likely always on the lookout for a good deal on gold or silver. And broadly speaking, you have two main ways to buy bullion: Either online, or locally through a bullion dealer or coin shop.
Which option is best? The answer, as usual, is “it depends”. Here’s what you need to know.
Buying Bullion Locally
Buying gold and silver locally is most investor’s preferred method. This approach offers several key benefits.
Browse before buying:With a coin shop or bullion dealer, you will have the opportunity to browse the shop for the latest bullion issues, collectible coins, and more. Plus, you can physically hold and examine each option in your own hands.
Knowledgeable advice:You can also ask any questions that you have, or simply chat with friendly representatives. Employees at coin shops like Bellevue Rare Coins are well trained and ready to provide helpful advice and answer your questions.
Same-day purchasing: With a store, you can walk out in a matter of minutes with your items. There’s no need to wait for shipping (orpay for shipping, for that matter!)
Competitive pricing:Buying locally (at least with Bellevue Rare Coins) ensures that you’re getting a good deal. Our pricing is very competitive on all the common bullion items, from American Silver Eagles to gold bars. You can view our live pricing page for details.
Privacy:Stores also offer enhanced privacy over online retailers. You can pay with cash or a check, and remain anonymous if you prefer.
Buy, sell, trade:Stores like Bellevue Rare Coins are also in the buying business — which means you can sell any items that you want while you’re in store browsing our bullion selection. You can even swap items out if you want.
No risk of loss or damage in the mail: When you buy online, there’s always a small chance that the package could get lost or damaged in the mail. Some retailers offer insurance, but it might cost extra. Buying bullion locally eliminates this risk.
Appointments available:Walk-ins are always welcome. But if you prefer privacy, or personalized support, BRC allows you to schedule an appointment online.
Buying Bullion Online
The other option is to buy from an online retailer. There are benefits to this approach, as well.
Wider selection: At least with some retailers, you can find a wider selection of items when you shop online. This depends on the retailer, however.
Discreet shipping:While items do have to be shipped, as long as you shop with a reputable retailer, your items will come in an unmarked box. Often, packages will need to be signed for.
Convenience:The main benefit is that you can shop from home, and have items shipped directly to your door. Just look out for shipping fees!
Buying Gold Online vs. Locally
So, what is the better option?
In most cases, it’s best to buy gold locally. This gives you the opportunity to ask any questions you might have, browse items in-person, and walk out immediately with your items in hand.
Of course, it depends where you shop. If you’re in the greater Seattle area, come to Bellevue Rare Coins for the Northwest’s best selection of gold, silver, platinum and palladium bullion.
If you live elsewhere, be sure to check customer reviews of coin shops before you buy. And if you live in a remote region, buying bullion online may make more sense.
FAQs
At first, there seem to be a number of advantages to buying gold and silver at a local metals shop. You get your purchase immediately, rather than having to wait for shipping. You know precisely where you got the bullion and the person who sold it to you, so if there is a problem you know exactly where to go.
Is it better to buy gold in store or online? ›
Compare prices between several retailers before purchasing, and bear in mind that prices from traditional retailers may be higher than online retailers due to the overhead costs of maintaining a brick-and-mortar location.
Is it better to buy silver locally or online? ›
The main advantage of buying gold and silver from a local shop is the opportunity to see your purchase beforehand. Examining your item up close will not only enable you to see if it is the exact piece you are looking for, but also enables you to assess the extent of its wear and preservation.
What is the safest way to buy gold bullion? ›
It's best to buy from a reputable source to ensure that you are buying precisely what is represented. You also can purchase physical gold from online gold dealers. They sell high-quality physical gold and ship it to your home or store in a secured vault.
What is the best way to buy physical gold? ›
One common way to purchase gold bars is through licensed retailers online. Prospective buyers can browse gold bar products on reputable retail websites such as the American Precious Metals Exchange (APMEX), JM Bullion, and Wholesale Coins Direct.
Where is the most trusted place to buy gold? ›
Our top picks, listed alphabetically, include American Hartford Gold, APMEX, Goldco, JM Bullion and Orion Metal Exchange. Before buying gold online, you should find a reputable dealer.
Who is the most reputable gold dealer? ›
Personal Finance
- American Hartford Gold.
- Oxford Gold Group.
- Patriot Gold Group.
- JM Bullion.
- Orion Metal Exchange.
- Lear Capital.
Our Top 10 Best Places To Buy Gold and Silver Online:
GoldCo - Best for investing with a personalized advisory team. APMEX - Best for a wide range of gold and silver products, including collectibles. Birch Gold - Best for low minimum investment and transparent fees. Lear Capital - Best for beginner investors.
What is the most efficient way to buy silver? ›
The Best Way to Buy Silver Bullion is Online
Purchasing Silver bullion online enables customers to experience various benefits that are not available with local coin shops.
How to buy gold without being ripped off? ›
It's a good idea to follow the price of gold for some time before deciding it's the right time to invest. You don't want to buy at the peaks, so it's good to understand what factors affect the price. Shop around dealer websites to make sure you're paying a fair price for gold.
The cheapest place to buy gold is usually online. Kitco.com often has the lowest premiums on gold coins -- the cost over the spot price of gold. But you have to cover the cost of insuring your package, and may have to pay for shipping as well.
Where is the safest place to buy pure gold? ›
Places to Buy Gold or Silver
The two most common places where you can purchase precious metals are from an online dealer, such as JM Bullion, or a local coin shop. Local coin shops have been around almost as long as money has. They evolved from pawn shop establishments into a more specialized form of resale stores.
How much gold can you buy without reporting? ›
You can purchase gold in any amount using cash. However, if your purchase exceeds $10,000 in value using cash or its equivalents, you must complete Form 8300. This form asks for essential details like your name, address, and social security number.
How much physical gold should I own? ›
Owning gold can provide tangible, attractive benefits for owners. However, investing in it can positively affect your overall portfolio. Like any other investment, however, it's important to approach gold cautiously. This generally means limiting your investment to 10% or less of your overall portfolio.
How much physical gold can I own? ›
Today, there are no specific limits on how much gold a person can own in the U.S. Whether it's bullion, coins, or jewelry, you can buy, own, and possess as much gold as you like. The only restrictions may come from reporting requirements if you simultaneously buy or sell large amounts of gold.
Where is gold the cheapest to buy? ›
There are several countries in the world which are considered cheap in terms of gold prices. Currently, the number one and two popular choices among consumers are Hong Kong and Dubai. As per goldpriceindia.com, the price of one gram of 24k gold in Hong Kong, as of March 4, 2024, is INR 5,418.70.
Does it matter where you buy gold from? ›
Whilst the US market is globally renowned for its high standards and quality of service, this does not mean that you are guaranteed to find this no matter where you choose to buy gold bars. We believe that buying gold from a reputable gold bullion dealer is the best way to buy gold bars.
Is it smart to buy gold from Walmart? ›
Conclusion. While buying gold from retailers like Walmart marks an exciting development in the accessibility of gold investment, opting for established companies like American Bullion remains the more prudent choice for serious investors.
Is it better to buy gold in person? ›
At first, there seem to be a number of advantages to buying gold and silver at a local metals shop. You get your purchase immediately, rather than having to wait for shipping. You know precisely where you got the bullion and the person who sold it to you, so if there is a problem you know exactly where to go.
