Unlike purchasing common everyday items, purchasing gold coins does require a bit more research and effort. Gold is a popular commodity, and there are many places online and offline where you can purchase it. So you probably want to know where to get the best price, the best deals. The answer to these questions depends primarily on what you want and where you’re at. Although it may be more accurate to say that it depends largely on your physical location, as you’ll see later on.
Before finding your bargain, you’ll need to know the type of gold coins you’ll want, where to find them, some premier online retailers, and how to avoid scams. To start with, it helps to know the difference between basic gold bullion and numismatic coins. Then, you’ll need to research whether or not there are reputable gold dealers in your area.
Standard Bullion Versus Numismatic:
Gold bullion is the standard form of coin, which can be purchased almost at the exact price of the coin’s pure gold content. On the other hand, numismatic gold coin is one that is priced based on the collection value. If you’re looking for where to buy gold coins, the first step would be to figure out which type of gold you’re interested in. Our recommendation is starting off with bullion which can be purchased relatively cheaply and in large quantities. Popular forms of bullion coins include: The American Eagle, The Canadian Maple Leaf, and The African Krugerrand. With the type of coin taken into account, the next step you want to take is to determine where you’ll want to make your purchases.
Physical Versus Online Retailer:
You can buy gold online or offline, but choosing one over the other may depend largely on your physical location. If you live in a large city, for instance, there would be a greater chance that a reputable dealer is located within a reasonable distance. If you’re able to locate a dealer, do your research and compare prices online with other dealers. If you’re in a smaller town or a relatively isolated area, then you’re less likely to be close to a reputable dealer, and the best bet may be to get them from online retailers.
Things to Check
If you choose to go with an online retailer, there are a couple of things you should check before making your purchase. First, you should make sure that the retailer is rated by the Better Business Bureau. Secondly, you have to make sure the website doesn’t inflate its prices, especially when it comes to that of standard gold bullion. Compare and contrast various retailers, such as the ones below, to find a fair price. When it comes to buying gold coins, the cheapest coins are coins that are fairly priced. If you find a price that’s really too good for your basic, standard coins, you may want to reconsider that purchase. Heed the old saying, "If it's too good to be true, it probably is." Be wary of amazing prices and deals for a commodity with a listed global spot price. It shouldn’t be priced too far off from what it’s worth.
Where to Buy Online Gold: You may want to start your search with Apmex which is a good online dealer to start at. It might be the cheapest place to buy gold online. If you’re looking for reliability, Apmex is an established online dealer that deals gold to 83 countries worldwide.
Another place that’s definitely worth checking for the cheapest place to buy gold coins online is SDBullion. This website also has a stellar reputation and accredited by the Better Business Bureau with an A+ rating.
The value of gold has been time-tested throughout history. Although stocks in general has outperformed other financial investments in modern times, its volatility is something that’s not suited for everyone. Bonds are steady, but inflation can really eat away at your returns. Gold is another asset class that can add diversification to your portfolio. Gold is a valuable asset that holds steady value over time through volatile financial times.
Our recommendation is to start off with standard bullion gold coins as a beginner. Do your research, scout your local area to see if there are reputable dealers that have reasonable prices. Remember though that you will be paying a premium for a retailer with a physical location. Building a relationship with a local dealer can have its advantages in the future as you do more transactions, so the premium you pay may be worth it.
And when you have your gold, learn how to use it to increase your wealth. You can learn from Minesh Bhindi's free webinar on cash-flowing your gold to get 12 to 26 percent returns yearly.