Where to Buy Gold and Silver

There are two primary places where to buy gold and silver. You can purchase from coin dealers or online. This page addresses both.

Silver and Gold Coin Dealers
Coin dealers are excellent places for purchasing and selling gold and silver. There are usually several coin shops in every major city.

Before determining which coin shop (or coin shops) to purchase or sell gold and silver consider the following.

The coin shop should be in business for at least 7-10 years. Longer is better—especially in these volatile economic times.

Do comparison shopping when selling gold and silver.
Go to several coin shops and ask what they sell gold and silver (and buy back) for. In other words, ask for how much you will pay over the spot price. In that way you can determine where you will get more bang for your buck.

Stay away from numismatic coins.
A numismatic coin is a collector coin that has a value in significant excess of the base metal. You will pay a high premium that you may never get back.

Find a coin shop that deals in decent quantities of gold and silver.
It’s good to have a selection to choose from.

Know your State Sales Tax for Gold and Silver
Different states have different sales taxes. Sales tax are an extra cost on the precious metals.

For more in depth information about buying and selling to coin dealers see:
Silver and Gold Coin Dealers.


Gold and Silver Coins


Buying gold and silver online – Where to buy Gold and Silver
Buying small quantities of silver online probably doesn’t make much sense (unless you want to establish a relationship with a company that offers special information reserved for their customers).

Buying online will require that you pay for shipping, handling and insurance. For relatively small quantities this can be a significant part of the purchase price. Also, online prices may be higher for gold or silver than from local coin shops.

For large quantities it might make sense to purchase online. The larger the amount of your purchase, the smaller the shipping, handling and insurance charges (as a percentage of your order) will be. Also, online companies usually have much more inventory than local coin shops.

As with coin shops make sure any online company you work with has been in business several years and has a stellar reputation.

One company that has great information and a exceptional reputation is goldsilver.com. They have special information that you can only access if you are a client. I am a client and find this information very useful.


Final Thoughts – Where to buy Gold and Silver
Having multiple places that you purchase gold and silver from makes sense. It is always good to keep your options open. Someday when you want to sell your precious metals it is good to have established relationships where you will be able to get fair prices.

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