Purchasing gold is not as simple as it may seem, nor is it as straightforward as the purchase of an insurance policy. Unfortunately, there are dishonest gold dealers in the world who only care about making a quick money and don’t really care about the quality of their product or the satisfaction of their consumers. In this post, we have provided a summary of the actions you may take to ensure that your purchase of gold will not result in any complications or second thoughts.

Considering all of the upheaval and unanticipated occurrences that are currently influencing the economy, it is sensible to consider gold as a potential investment. Gold is a safe haven for investors in the form of an asset since it maintains its value even in the face of economic unpredictability. The price of gold tends to rise if the stock market is experiencing a decline. To summarize its function, gold can be thought of as a form of financial insurance for your investments.

In addition to this, gold is unaffected by the impacts of inflation. It has been used as a medium of exchange all throughout the world for thousands of years, during which time its purchasing power has not fluctuated significantly and can be relied upon.

What is a Gold Dealer?

Historically, the term “dealer” referred to a corporation that traded a commodity or product and was available to buy or sell that thing during trading hours. Today, however, the term can refer to any business that engages in trading. Someone who is prepared to make a bid and offer price on gold at the same time in the market for precious metals is an example of someone who is known as a gold dealer. These companies are often larger and exclusively conduct business with other companies operating in the same industry. Examples of counterparties in the precious metals market are banks, refineries, consumers, and producers of gold, silver, platinum, or palladium respectively. These dealers typically do not conduct business with unaffiliated individuals or organizations, such as yours truly or myself, or with businesses that are not directly involved in the precious metals market.

At the retail level, a great number of precious metals companies, coin shops, pawnshops, and scrap collectors interact directly with members of the general public. Instead of referring to them as precious metals dealers, it would have been more accurate to call them precious metals vendors or service providers. They are a substantial component of the market, in particular for individual citizens who want to obtain actual gold or silver bullion in their own.

Choose Gold Dealer – Factors To Consider

People who have never purchased precious metals before frequently have the misconception that all gold and silver merchants are the same. This is not the situation at all. Because the government has not yet begun to regulate the gold and silver industry, purchasers should exercise extreme caution before giving money to individuals claiming to be dealers. People who have suffered multiple devastating financial losses and even those who have been convicted of criminal offences continue to engage in their chosen line of work. They have some of the most impressive websites and brokers who are experts at seamless conversation.

• Price & Fees

In terms of the price of gold, it is not important to determine who has the lowest pricing. It is in your best interest to shop around at other dealerships to determine which one provides the most attractive price overall. In order to attract clients, shady businesses frequently lower their costs; nevertheless, you should be aware that deals that seem too good to be true probably are.

Most first-time purchasers are under the impression that finding the best deal possible is the single most crucial aspect to consider when making a purchase. It is not that. What is more significant than being able to make the purchase at the lowest possible price is the “getting,” which refers to the manner in which you may take actual possession of the item that you purchased.

Investigate and contrast the various costs associated with shipping. Check to see if they are affordable and adequate for the amount of product you intend to buy. Keep abreast of the current and fair metal prices, of course, so that you will know what is within an acceptable range and won’t get taken in by con artists who dangle tempting baits in order to pull a fast one on you.

• Delivery and Location

One of the first decisions you will need to make is whether or not you would prefer to do business with a local physical dealer or an online dealer instead.

1. Online Dealer

These days, more and more individuals are choosing to do their shopping online because of the many benefits it offers. To begin, the prices that can be found in traditional retailers are typically more than those that can be found online. It is not necessary for an online store to pay for the overhead costs that are associated with traditional stores in order to keep the business operating. In addition, online retailers typically have a reach across the country, and some even extend to international markets. When it comes to gold, internet dealers typically have a higher volume of bullion sales and enjoy much reduced costs associated with their fixed operations. They are able to offer their clients lower prices as a result of this, which allows them to keep more of the money they save.

However, not all people who are interested in purchasing gold would feel comfortable doing so from an internet vendor. People tend to be sceptical when it comes to purchasing gold due to its high price, particularly if they are going to do it from an anonymous agent that they have only met online. Because of this, despite the many breakthroughs that have been made in technology up to this point, there are still local gold dealers operating successful businesses.

2. Local Dealer

Local gold shops offer a sense of comfort, security, and privacy; they also allow customers to develop relationships with the store’s employees, which is something that the vast majority of online dealers do not typically provide.

If you just purchase a modest amount of bullion and pay for it in cash, your neighborhood dealer might not even disclose the transaction to the Internal Revenue Service, allowing you to keep the transaction a secret.

The fact that you can physically check the gold and take it with you immediately after the purchase is another another advantage of purchasing it from a local business. Although it is possible that you will pay a greater price for the gold, there will be no additional fees for shipping, and you will not have to wait for delivery.

Local dealers are acutely aware of the one-of-a-kind character of their industry; thus, they place a high premium on protecting their good name in the communities they serve. The quality of customer service that they provide frequently exceeds that of most other establishments.

However, traditional merchants typically charge greater rates for their bullion since they continue to pay more in overhead costs and do not always receive the sales volume that they seek. Just keep in mind that regardless of whether you decide to buy from a local or an internet dealer, there are hazards associated with either option.

• Reputation and Experience

Dealing exclusively with established businesses that have been in operation for a considerable amount of time is a recommended best practise. It is okay to have worked in the trade for five years, but having worked there for ten years or more is preferable. You may anticipate an increase in the number of gamers each year as a direct result of the consistently climbing price of gold.

In point of fact, this pattern has already begun, as evidenced by the proliferation of brand-new gold businesses over the entirety of the Internet. The terrifying aspect of the situation is that some of these dealers are operating out of their homes and have very little or even no prior experience in the trade of gold. Also, do not be fooled by their websites, which are designed to look just as appealing as those of some of the more renowned companies that we have seen for decades. Even while some of these online businesses will establish their usefulness, it’s likely that the vast majority of them won’t be successful.

The necessary experience In dealing with precious metals can be obtained by dealers who have been operating their businesses for at least ten years. In most cases, the owners are sole proprietors who are devoted to the operation of the business and who have firm faith in the dependability of gold. These are the kinds of companies with whom you should strive to cultivate professional connections.

• Diversity

Your gold bullion dealer should be able to provide you with a diverse selection of gold bullion items from which to choose. Because their network of suppliers is so limited, certain retailers can only sell a limited selection of goods or focus only on a single category of goods.

For instance, you can come across a company that deals exclusively in coins of a certain type (such as the American Buffalo or the South African Krugerrand), or coins of a particular weight (1 oz coins only), and others that deal exclusively in gold bars or gold coins for investment purposes.

• Safety

When it comes to dealing with precious metals, there is, in all honesty, not a single thing that can be guaranteed. Because of the surge in demand, there have been a lot of new businesses established, and some of them are only there to take advantage of clients or even fool them into paying for something even though they don’t end up getting it.

Con artists have been using gold coins as the primary target of their schemes for years. As a result of dishonest scams, dishonest people have been able to make money off of naïve investors, and more inexperienced investors continue to fall for these schemes in the hope of acquiring physical gold as a way to safeguard their riches.

How to Stay Safe from Con Artists

On the other hand, there are certain steps that you may take to lessen the likelihood of doing business with a dishonest or fraudulent dealer.

• Make sure you are aware of what you are purchasing. Gain an understanding of the product before attempting to close any deals.

Price: Learn about the current spot price of the precious metals you wish to purchase or sell before making any financial transactions.

Weight: Make sure you are familiar with the procedures necessary to determine the weight of the gold.

Design: Each coin has its own unique design, and it has a lot of little elements that are very hard to copy, thus it’s quite difficult to fake them.

• Check the purity of the gold you’re about to acquire before you hand over any money for it. They can be 97 percent, 98 percent, 99 percent, 99.10 percent, 99.99% or 100 percent pure.
• Stay away from deals that sound “too good to be true,” as they are usually scams. If a dealer provides a bullion product at a price that is so phenomenally cheaper than the average, or if the dealer bundles excessive bonuses and inflated claims, there is a good probability that it is a scam to mislead you into purchasing the product.
• Choose the most influential people. It should come as no surprise that consumers can have greater trust in distributors who have a proven track record that spans multiple years. They are able to handle large demands because they have the network, experience, and capacity to do so, and they even provide greater flexibility.
• Inquire as to whether or not they have a Buyback Policy. Because there may come a moment when you wish to or are required to sell your gold, it is not very likely that you will keep all of it to yourself for the rest of your life. If you want to accomplish it in the smoothest method possible, you should sell it through the same dealer who sold it to you; therefore, you should inquire about whether or not they have a Buyback Policy.
• Avoid “rare” coins that are selling for a significant premium over their melt value. Keep in mind that it is against the law to offer gold items at a price that is lower than the spot price.
• They should be willing to take a variety of types of payment. It is reasonable to expect that legitimate vendors will have no trouble taking a variety of payment methods. For the purposes of your transactions, they should be able to accept a variety of ways of payment, including cash, credit cards, debit cards, and checks.
• They ought to have a good reputation in the NFA database as well as the Better Business Bureau. It is recommended that you examine the NFA database in order to investigate the regulatory history of your dealer. You can also check with the Better Business Bureau to determine whether or not the company is a member of the organization, how long they’ve been in business, their ratings, and whether or not they have positive or bad customer reviews.

How to Preserve the Value of Your Gold?

Gold is nothing more than a piece of metal that has been shaped into a lump. As a direct consequence of this, it can be stored in any location. Nevertheless, there are undeniably more effective methods of storage than merely placing it in one of the drawers in your bedroom. In general, there are three different ways that you can store your gold. The following are some of them:

• Maintain possession of it in your home.
• Put it in the bank for safekeeping.
• You should compensate someone else to store it for you.

A safe-deposit box is an excellent purchase to make if you intend to keep your gold in the comfort of your own home. Also, keep in mind the importance of taking all necessary precautions to avoid being robbed or losing anything.

If you have more than a modest amount of gold, entrusting its care to a financial institution or a third party is the superior choice. It is in your best interest to investigate the banking institutions and alternative funding sources that are available in your area. Even though your wealth can be held several thousand kilometers away from where you live, getting it back will be a very difficult task.

As a result of this, it is important to carefully consider the costs, track records, and safety precautions offered by the various options for self-storage that are located in your area before deciding which option is the most suitable for your requirements.

If you’re going to use a third-party, make sure you choose one that specialises in gold storage. Several companies can assist you in purchasing, storing, and selling gold. These companies usually have extensive networks that they can employ to move big amounts of gold fast. For the most part, using them will be the best alternative.

How exactly do gold dealers make their living?

Gold dealers, just like any other kind of dealer, make their money from the difference in price between buying and selling. The following are its primary channels:

• Buy-and-sell spread – A “buy-and-sell spread” is something that every gold dealer has. The difference between the price that a gold dealer is willing to pay for an item and the price that they are willing to post as their selling price is known as the spread.
• The difference in price between buying and selling can range anywhere from 0.5 percent to 35 percent for each transaction, and this difference is determined by the dealer, the commodity, and the amount of metal that is being purchased or sold. Understanding the complexities of a company’s buy-and-sell spread can help you differentiate between respectable brokerages and commission-hungry salesmen. Serious investors are aware that companies must generate a profit in order to remain in operation; however, this does not preclude them from making a profit.
• Buying Gold dealers make their money off of the general public’s demand for gold and their ability to sell it to them. There are a lot of gold dealers who are simply marketing firms, which means they facilitate deals but do not keep inventory. When you sell your gold to a gold dealer, the dealer will almost certainly sell the metals to a large-scale depository or wholesaler. This happens whenever you sell gold to a gold dealer.
• When a wholesaler makes a purchase from your dealer, the wholesaler makes money, and when your dealer makes a purchase from you, he also makes money. Many dealers in gold and silver offer commission-free liquidation, which indicates that the amount you’re quoted for selling your gold does not include any commissions or other hidden costs that could reduce the amount of money you make once the transaction is complete. This service is offered by many dealers.
• Commissions Paid to Gold Brokers All gold brokerages are required to turn a profit in order to continue operating as businesses. When it comes to compensation, brokers frequently receive commissions or bonuses based on the volume of sales they complete. There is nothing inherently unethical about purchasing gold from a commissioned broker; however, it is essential to have a firm grasp on the proportion of each transaction that goes directly into the broker’s pocket.

Best Gold Dealers 2022

An increasing number of investors are looking to precious metals as a means of diversifying their investment portfolios as a result of the increased volatility of the stock market and the political unpredictability. Gold in particular has, throughout history, been able to keep its value, even in the midst of significant fluctuations in the stock market, and it has demonstrated that it is an effective hedge against inflation.

The ownership of actual gold, as opposed to gold receipts, gold mining stocks, or gold exchange-traded funds (ETFs), is frequently favored by long-term investors. It has never been simpler to buy high-quality gold in its physical form, have it shipped to your house, or keep it in a safe deposit box thanks to the proliferation of online gold dealers in recent years.

On the other hand, there are some reports of counterfeit metal coins or fake gold being sold online. Because of this, you need to make sure that you are purchasing from a dealer who has a long history and a good reputation in the industry.

• Best Overall: Money Metals Exchange
• Best Comprehensive Offering: APMEX (American Precious Metals Exchange)
• Best Customer Experience: JM Bullion
• Best Low-Price Option: SD Bullion
• Best for Gold Coins: BGASC
• Best Reputation: Golden Eagle Coins

Money Metals Exchange

Since its inception in 2010, Money Metals Exchange has amassed a clientele of more than 250,000 customers in a very short amount of time. Money Metals Exchange is our pick for the best overall online gold dealer because of its customer-centric focus, which has translated into highly competitive pricing, personalized service, a pathway for new investors, and one of the best reputations online.

Its website provides customers with an intuitive interface for shopping for coins and bullion according to category and weight. An automatic monthly savings plan that starts at $100 per month is an excellent way for beginning investors to get their feet wet in the gold investing market. On their website, they advertise the price of a 1 oz Gold American Eagle Coin to be as low as $105 more than the spot price.

Money Metals freezes the price of your order for ten minutes, giving you time to enter all of your information and choose a method of payment. You have the option of paying with a bank wire transfer, bitcoin, a credit or debit card, a money order, PayPal, or a check. Orders paid for with PayPal and credit cards are subject to a processing fee of 4%. There is not one single maximum purchase amount that applies to all payment methods. There is a maximum limit of $1,700 for card purchases, $3,000 for PayPal transactions, and $3,000 for ACH transactions. The limits for other methods are significantly higher.

Vault storage can be found at Money Metals’ locations in Delaware and Massachusetts, which are both Class 3 vaults. Your metals are completely separated from one another and fully insured at all times. During business hours, they also offer responsive customer service that can be reached via live chat, phone, or email.

Additionally, the website provides access to a sizable library of resources, which can assist both novice and seasoned investors in expanding their knowledge of the market. Investors who are watching the price of a particular metal and waiting for it to go up can sign up for price alerts from Money Metals.

APMEX (American Precious Metals Exchange)

Since its inception in the year 2000, the American Precious Metals Exchange (APMEX) has grown into a dominant force in the precious metals industry across the globe. It shouldn’t come as a surprise that it has the widest selection of products containing precious metals; consequently, we consider it to be the online gold dealer that possesses the most all-encompassing offering.

APMEX carries a comprehensive range of platinum and palladium bullion and coin products in addition to its extensive range of gold and silver bullion and coin products. Its coin selection is like a miniature United Nations, with coins from countries as diverse as the United States of America, Canada, Australia, South Africa, Mexico, and many others. In addition, APMEX is one of the best sources for collectors because it provides a diverse selection of coins and old banknotes.

Although APMEX’s prices are not the lowest available, the significant volume of sales that the company generates enables it to at least be competitive. One of the most significant drawbacks is that they have different pricing structures for the various payment methods. In addition to this, APMEX provides volume-based pricing as well as bulk discounts on purchases of bullion and coins. The quantity tiers are from 1 to 9, 10 to 19, 20 to 99, and 100 and above.

APMEX also excels in user friendliness, with a straightforward navigation system that makes it simple to browse products and a straightforward checkout procedure that can be completed in just four steps. After beginning an order, you have a total of ten minutes to complete the transaction in order to secure the current price.

One more important benefit offered by APMEX is free shipping on any order that is more than $199. There is no requirement for a minimum order amount. For orders that total less than $199, a shipping fee of $9.95 will be added. Every single package that is shipped out comes with insurance. Orders that are paid for with a credit card, PayPal, cryptocurrency, or wire transfer may be eligible for APMEX’s QuickShip Program, which provides processing for orders placed in the United States on the following business day.

You can pay for your purchases with APMEX using a wide variety of methods, such as a credit or debit card, a paper check, a bank wire transfer, PayPal, bitcoin, or an electronic check. Depending on the method that you use to make payments, the clearing of payments could take up to five days, while other methods clear payments more quickly.

Any order can be returned and refunded within 7 days of receipt; however, APMEX reserves the right to assess a restocking fee equal to either $50 or 10% of the total purchase price. In addition to this, it makes the buyback process simple and expedient for the customers.

APMEX is dedicated to delivering outstanding customer service and educational opportunities. During normal business hours, customers can communicate with the company’s service center via live chat, email, or phone; however, orders can be placed around the clock, seven days a week. New investors will be grateful for the resource center that APMEX has made available on its website. This center provides educational information in addition to up-to-date insights on the purchase of gold.

JM Bullion

Because JM Bullion offers its customers a website that is simple to navigate, a pricing structure that is easy to understand, dedicated customer support, and features that are beneficial to investors, we have chosen it as the online gold dealer that provides the best overall customer experience.

Since its inception in 2011, JM Bullion has made rapid strides toward becoming the “fastest-growing precious metals company” in the United States, according to Inc.com. This expansion can be attributed to JM Bullion’s dedication to providing customers with a straightforward purchasing procedure, a comprehensive range of products to choose from, transparent pricing, and devoted assistance when needed. Because of this, we consider it to be the online gold dealer that provides the best overall customer experience.

It offers a comprehensive product selection, which includes a wide selection of coins and bars made of precious metals such as gold, silver, platinum, copper, and palladium, all of which are priced without commissions or other additional fees. There are price differences associated with the various methods of payment. JM Bullion gives active duty service members and veterans the same discount it gives customers who buy in bulk.

ACH transfers (up to $100,000), cryptocurrency (up to $250,000), paper checks (up to $75,000), credit or debit cards (up to $25,000), PayPal (up to $25,000), and wire transfers from banks (up to $250,000) are all acceptable methods of making payments. As a “discount” for the other payment methods, credit card and PayPal transactions are assessed an additional 4% fee, and cryptocurrency transactions are assessed an additional 1% fee.

When you spend $199 or more, your order will be shipped for free, and the cost of insurance will be covered. You will be charged $7.99 for any order that is less than $199. (more if you upgrade your shipping method at checkout). You also have the option to have your gold sent for free to JM Bullion’s storage partner, TDS Vaults. TDS Vaults is a high-security depositary that has several locations all over the world.

JM Bullion has a return policy that is valid for five days. You are responsible for any market losses, despite the fact that the website does not indicate whether or not there is a restocking fee. The dealer maintains a buyback policy with a minimum of one thousand dollars. You can view the most up-to-date information regarding its buyback prices by going to its website.

JM Bullion takes great pride in its dedicated customer support, which is available via live chat, email, and phone during normal business hours. On Trustpilot, customers have nothing but praise for the company.

SD Bullion

In comparison to the other dealers on this list, SD Bullion provides competitive pricing, and the company stands behind those claims by offering a low-price guarantee; as a result, we recommend them to you as the best option for competitive pricing.

If a dealer claims to be the “lowest cost” online gold dealer in the United States, then that dealer ought to support their claim with a low-price guarantee. This is precisely what SD Bullion does, and as a result, we consider them to be the most cost-effective choice for gold investors.

In spite of the fact that SD Bullion provides customers with all of the precious metals available, including gold, silver, platinum, copper, and palladium, the company’s product selection is not as extensive as that of some of its leading rivals. When it comes to investors looking for the best price regardless of which brand they prefer, SD Bullion is unrivalled.

The company offers free shipping on all orders that are more than $199 and a flat rate of $9.95 for orders that are less than $199. It has great prices, as we have already mentioned, and the dealer will match a competitor’s price if a customer finds one that is lower than the one SD Bullion is offering.

Your order will be subject to a market loss fee, a 5% cancellation fee, and any collection expenses incurred by SD Bullion in the event that payment is not received by the payment deadline. SD Bullion provides its customers with a comprehensive selection of payment options, including the following:

• Bitcoin (up to $250,000)
• Cashier’s check (up to $20,000)
• Credit or debit card (up to $5,000)
• E-check (up to $10,000)
• PayPal (up to $5,000)
• Personal check (up to $20,000)
• Wire transfer ($20,000 and up)

There is a processing fee of 4% for payments made using PayPal and 1% for payments made using Bitcoin. If you decide to have your gold stored, you can open a storage depository account, at which point your gold will be stored directly with SD Bullion and will be fully insured by Lloyd’s of London. If you make this decision, you will be able to access your gold at any time. The first three months are completely free, and after that, the cost of storage can be as low as $9.99 per month, depending on how much you store.

Returns are permitted within the first three days after delivery, but the purchaser is not assured of a refund. It is up to SD Bullion to decide whether or not it will honor your request to return the item. In addition, SD Bullion may ask you to cover the cost of any market loss in addition to the stocking fee, which is either 5% of the purchase price or $35, depending on which is higher. Even though buyback prices are not made public, SD Bullion will purchase your gold on your behalf. After SD Bullion has been in possession of the item for one to three days, payments will be processed.

The reviews of SD Bullion’s customer service are generally favorable, and customers have reported having a positive experience reaching representatives through chat, email, and the phone. The speedy ordering process and relatively quick delivery times have been praised by a number of previous customers. Users of Trustpilot have awarded SD Bullion 4.6 out of a possible 5 stars based on their experiences with the company.

BGASC

As its name suggests, Buying Gold and Silver Coins (BGASC), which stands for Buying Gold and Silver Coins, is one of the best sources for gold bullion coins that are sold at reasonable prices. As a result, we have selected this company as the best online gold dealer for coins.

Although BGASC provides customers with access to a comprehensive selection of gold products, the sale of gold bullion coins remains its primary business focus. The fact that they have such a large selection of coins, that their prices are so low in comparison to those of other online gold dealers, and that their customer service is so good leads us to believe that BGASC is the best online gold dealer for coins.

BGASC has been able to establish a reliable reputation, particularly in the industry of gold coin dealing. They keep an extensive inventory of premium and rare numismatics, in addition to having a great selection of all the essential standbys such as American Eagles, Canadian Gold Maples, South African Krugerrands, Pre-1933 U.S. Gold, and Australian Gold Kangaroos. In addition to that, it provides silver and platinum-based products. They do sell gold bars in the various standard weights and dimensions.

One of the drawbacks of using BGASC is that it only offers a few different payment options. At this time, they will only accept payments made via bank wire transfers (with a maximum of $400,000), paper checks (with a maximum of $100,000), PayPal (with a maximum of $10,000), credit and debit cards (with a maximum of $10,000), and PayPal.

The return policy that BGASC provides is only good for three days, during which time you will be charged a restocking fee of 5% on all orders paid for with PayPal or a credit card, in addition to a possible market loss fee for any product that you send back. Additionally, they will buy gold and silver from you at the prices that are listed on their website at the time.

Even though they do not offer live chat, customer reviews laud BGASC’s customer service, praising the company’s knowledgeable representatives and prompt response times. Their customer service is available during business hours, similar to that of the vast majority of other online gold dealers.

Golden Eagle Coins

Golden Eagle Coins is our top pick for the online gold dealer with the best reputation because it was founded as a family-owned business, it has an almost perfect track record, and it has received thousands of positive reviews from satisfied customers.

Golden Eagle Coins has been in business since 1974 and has a track record of customer satisfaction that is unrivalled. As a result of this, we consider them to be the most reputable online gold dealer. Golden Eagle Coins is known primarily for their extensive selection of gold coins, which includes collectible and numismatic coins.

It’s impossible not to be impressed by the vast inventory that Golden Eagle Coins carries. Investors can find a large selection of pre-1933 coins, commemoratives, mint sets, and foreign coins from a wide variety of countries in addition to popular coins such as American Eagles, South African Krugerrands, and Canadian Maple Leafs. In addition to gold coins, silver, platinum, palladium, and copper coins are all available from Golden Eagle Coins.

In addition, you won’t find very many dealers who sell historical currency, such as notes from the Confederacy or currency from the colonies. Collectors are also impressed by the variety of ancient Arabic, Greek, Roman, and mediaeval coins that can be found there.

The prices of Golden Eagle Coins are low and competitive, but they are not quite as low as the prices offered by BGASC or SD Bullion. You don’t necessarily go to Golden Eagle Coins for the prices; rather, you go there for the selection and the service.

Bitcoin, paper checks, credit cards, PayPal, and wire transfers to your bank account are just some of the conventional payment methods that can be utilized at Golden Eagle Coins. Credit cards have a maximum purchase limit of $1,000, while wire transfers from banks have a minimum requirement of $2500. Additionally applicable minimums and maximums are as follows: Orders paid for with PayPal and credit cards incur additional costs in the form of a fee.

When you spend $99 or more, standard shipping is free, but it costs $9.95 for orders that are less than $99. You have the option of upgrading to priority mail, which will cost you $14.95, or express mail, which will cost you $24.94. Returns are accepted for a period of seven days after the delivery has been made by Golden Eagle Coins. There is a possibility that you will be required to pay a restocking fee in addition to a market loss fee. Prices for purchasing gold can be found on their website.

Even though it does not provide live chat, Golden Eagle Coins has earned high marks from the thousands of customers who have provided feedback on the quality of its customer service. Inquiries made via phone and email are responded to promptly, and the service itself is quick to meet customers’ needs. The reputation of Golden Eagle Coins on the internet is impeccable. On Trustpilot, it has received more than 5,200 ratings, giving it an overall rating of 4.3 stars out of 5. On ShopperApproved, it has received an even higher rating of 4.8 out of 5 stars, based on more than 24,000 reviews.

Find The Best Gold Dealer – FAQs

When is the best time to buy gold?

When there is economic unpredictability, such as during a financial crisis, the time to purchase gold is at its highest point. Gold is a more effective hedge against the risk of a financial catastrophe as well as rising prices than it is against the risk of inflation. When other types of investments, such as stocks, bonds, and real estate, underperform, the price of gold tends to rise because most investors rush to acquire gold as a hedge against losses in other types of investments. Examples of underperforming investments include stocks, bonds, and real estate.

Keep an eye out for negative political and economic messaging concerning debt, credit, unemployment, and currency in the major economies of the world, such as the United States, the Eurozone, and China, to help you decide whether or not to add additional gold to your portfolio.

Why people invest in gold?

Gold offers investors a number of essential advantages that are essential to consider.

Gold has a long history of being a reliable hedge against inflation due to the fact that the price of gold increases in tandem with the cost of living. During times of severe inflation in the past fifty years, the price of gold has skyrocketed, while at the same time the stock market has fallen dramatically.

Gold has a history of delivering positive returns despite adverse economic conditions, making it an attractive investment option during times of economic downturn. Gold, as opposed to some of the riskiest investments such as stocks, is a tangible asset that many people choose to put their money into during challenging economic times.

According to records from the past, the value of gold does not fluctuate as much as the value of stocks and bonds. It would appear that the ups and downs of the stock market have little effect on the value of gold. It is an efficient method for increasing the size of your investment portfolio.

Is gold ever going to lose its value?

Gold has always been regarded as a valuable metal due to the fact that there is so little of it. Since it was first utilised as a form of currency around the year 700 BC, its value has consistently increased. The pattern has not changed significantly between the years 1900 and 2021.

A striking illustration from more recent times is the period from 1998 to 2008, during which the price of gold tripled, going from $287.45 per ounce to $865 per ounce. In October of 2021, the price was a staggering $1,800 or more per ounce on average.

It is evidence that the price of gold is expected to continue climbing. If you are looking for a risk-free investment that can act as a hedge against the possibility of negative financial outcomes, purchasing gold is one of the more secure ways to diversify your portfolio.

Should I invest in gold or gold stocks?

Purchasing actual gold or gold stocks each come with their own set of benefits and drawbacks. Gold stocks, for instance, are considered to be speculative investments. Trading for them is exactly the same as trading for regular stocks. The demand from outside factors causes their prices to fluctuate. That is, they act in accordance with the most recent tendencies in the market. However, they have the potential to outperform actual gold even when the price of gold bullion falls.

On the other hand, the value of actual gold increases during times of economic instability. They are profitable as a result of the rush for investors to acquire gold in order to protect themselves from the current market crisis.

And because you physically possess them, regardless of whether or not the price of the underlying asset goes up or down, their inherent value will never change. However, exercise caution. If you do not store gold bullions on your own, you will be subject to cumulative storage expenses. In addition, they attract custodial fees, such as those associated with gold IRAs and insurance.

What is the most cost-effective method of purchasing gold?

Despite the fact that coins have higher production costs, it might appear that gold bars have lower premium costs than coins do, but this depends on the specifics of your investment strategy. On the other hand, the majority of reputable gold dealers frequently offer lower premium charges in order to provide prices that are more competitive. Purchasing gold in the form of bars or coins also results in lower costs associated with storage. For the majority of dealers, it does not make a difference whether you are purchasing coins or bars.

You should also consider whether you would rather invest in gold equities or gold bars when making your investment decision. Similar to regular stocks are exchange-traded funds (ETFs) and stocks that invest in gold. Although they are inexpensive to buy, they come with levies that increase the amount of money you actually have to spend per ounce. Just like with gold futures, the proceeds will be paid out to you in monetary value rather than in actual gold. In spite of this, they are an improved investment choice for speculative purposes than gold bullions.

Conclusion

All of the aforementioned online gold dealers have excellent reputations and are trustworthy, open, and honest. However, there are sufficient differences between these top dealers to entice investors for a variety of different reasons.

If you want the largest selection of products across all categories, this is the place to go. Your initial destination should be APMEX. You should look into JM Bullion, on the other hand, if you place a high value on an exceptional overall customer experience. If cost is your primary concern, you won’t find many gold dealers who can compete with SD Bullion.

A lot of gold investors diversify their holdings by purchasing from a few different places. However, if you are looking for the best overall one-stop shop for purchasing gold, you should put Money Metals Exchange at the top of your list of potential vendors.

There are varying degrees of honesty among precious metal dealers. Do your homework before making a purchase, avoid people who guarantee quick profits, and educate yourself on how to identify the telltale signs of a con.