There are several ways to buy bullion, including gold, silver, platinum, and palladium, depending on your personal preferences and needs. Here are some of the most common options:
- Local coin shops: You can often find local coin shops that sell bullion, such as gold or silver bars and coins. These shops may also offer appraisals, storage, and other services. Sometime you can build a relationship with the local shop and this may lead to special deals and good pricing. However, many times some local shops have much higher prices and when they buy pay significantly less than what you can find with large nationwide buyers/sellers online.
- Online dealers: Many reputable online dealers sell bullion at competitive prices. You can compare prices and offerings from multiple dealers before making a purchase. However, be sure to check the reputation and customer reviews of the dealer before making a purchase. Also, make sure to check shipping fees, shipping times and if the items are in stock. Some people are shocked when they make a purchase, and they didn’t realize it was for an item that was coming in and not in stock and they must wait weeks for the items to arrive.
- Bullion exchanges: Bullion exchanges provide a platform for buying and selling bullion. They may offer lower prices due to their direct access to wholesalers and other sources of bullion. Here to you should be careful as sometimes the items are overprices or they presell items they do not have in stock. It’s important to buy from ONLY reputable sellers.
- Auctions: You can also find bullion at auctions, including online auctions like eBay, Heritage, Stacks & Bwers etc. However, be sure to research the auction house and the authenticity of the bullion before making a purchase. Also don’t get carried away all too often people get caught up in the bid environment and end up paying too much for the precious metals. Finally don’t forget to learn about and identify the buyer premium as many auction houses which is the amount you must pay them on top of the price of the items.
When buying bullion, it’s important to do your research, shop around, and choose a reputable dealer. You should also consider factors such as storage options, shipping costs, and insurance. Additionally, be aware that there may be taxes, fees, and regulations associated with buying and owning bullion, depending on your location, the amount and the type of bullion you are buying.
