Is It Safe To Buy Gold Online?

Buying Gold & Silver Online

The Internet Revolution has made it easier to purchase just about anything a consumer can imagine - and that includes precious metals. As opposed to brick and mortar retail stores, online retailers don't have the high costs of overhead or a limited number of customers able to reach them, which keeps costs down. When buying gold and silver online, you should expect to pay only a couple of dollars over spot for bars or rounds instead of the potentially more than $5 over asked by physical retailers. Online retailers are also able to offer a broader range of, often, higher quality products, as they are not limited to a physical location. And online dealers do not react to fluctuations in the price of metals the way store dealers do, keeping online costs more constant.

Buying gold and silver online does have one drawback. Unlike when buying from a store, when buying online, investors are unable to hold the product in their hands. Brick and mortar gold and silver stores have the items on display and you won’t have to wait for shipping.

Why Buying Precious Metals Online is the Safest Way to Buy Gold & Silver

Buying online is as safe as buying from a physical retailer, if not even safer. Whether you’re interested in purchasing gold bars or coins, you can buy gold online and be safe as long as you deal with a reputable gold company, such as International Precious Metals. IPM's industry affiliations with the American Numismatic Association (ANA), Professional Coin Grading Service (PCGS), Numismatic Guaranty Corporation (NGC), Certified Acceptance Corporation (CAC) the Better Business Bureau (BBB) and Industry Council on Tangible Assets (ICTA) reflect the retailer's commitment to fair and honest business practices that are consistent with the standards of each of these organizations.

Buying from a Store

Buying from a physical retailer allows investors and enthusiasts to see each coin or bar, take measure of its heft and feel and take it home immediately.

But a distinct disadvantage to buying from a store is taxation. If the shop is in a state that taxes precious metals sales, that tax is passed on to the consumer and will be seen on your bill. In this case, buying from an online retailer located out of state may be the better choice.

Online vs Store: Which is Best Way To Buy Gold?

For first time buyers of coins or bars, the following solution may offer the best of both options. Anyone new to gold or silver as an investment or hobby would do well to visit a local retailer and physically view what there is available. Get a good idea of what different products cost and what draws your eye or would be a nice addition to your collection. Then, go online and buy them. You will find them significantly cheaper.

If you’re interested in buying gold or other precious metals online, you can explore the collection at IPM. IPM also offers a variety of precious metals to choose from. Feel free to learn more about precious metals and valuable coins by checking out our other unique blog posts, including Is Gold A Good Investment, Is Platinum Expensive, & Should I buy Circulated or Uncirculated Coins.