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Gold is a unique asset. It’s been considered valuable for literally thousands of years, and its history dates back further than any other asset besides real estate.
Today, gold remains a popular investment option. Investors appreciate that it’s a physical asset, and that it has unique diversification properties. Many also use gold as a hedge against inflation.
But where should you buy gold?
You can now buy gold online, from a variety of different businesses – and even from other individuals via platforms like eBay. But is buying gold online safe?
It can be, as long as you know where to shop, and how to do so safely.
If you buy gold online from a reputable bullion dealer, and you buy directly from that dealer, then you have a low risk of getting scammed. There are still a few risks with this route, though. For instance, the package could be lost in the mail (although some dealers may offer shipping insurance, usually for an extra fee).
In general, it’s best to avoid buying gold on eBay, Amazon, or any other marketplace. These marketplaces allow anyone to sell, so it’s hard to know you’re buying from a reputable source.
It’s safe to buy coins on eBay, and indeed it can be safe to buy gold there too, as long as you buy from a reputable dealer. However, the prices are usually higher on eBay, because sellers have to cover eBay’s fees.
To go about buying gold online, it’s best to work with a reputable gold dealer. You can find some top options by searching, and looking at customer reviews.
It’s best to buy directly from a bullion dealer, through their website. Here are some tips:
Finally, be sure to compare prices. Some online vendors charge significantly more than others. All dealers will charge bullion premiums (the price over spot), but some are higher than average. Plus, you’ll want to compare total costs, with the cost of shipping, payment processing, and insurance factored in.
For context, Bellevue Rare Coins posts live bullion pricing on our website (but these prices are for local pickup in the Seattle area).
If you’re hesitant to buy gold online, that’s understandable – it certainly can be intimidating. Fortunately, there are other ways.
Buy from a local coin shop or bullion dealer:Â Coin shops and local bullion dealers in your area can sell you physical gold in-person, bypassing the need for costly and risky shipping. Again, make sure you’re working with a reputable dealer.
Live in the greater Seattle area? Bellevue Rare Coins is the Northwest’s premier source for gold bullion, with industry-leading prices and a reputation for quality customer care.
Buy gold in a precious metals IRA: If you’re saving for your retirement, you may wish to consider a precious metals IRA. These accounts allow you to benefit from the tax perks of a standard IRA account, but you can hold physical gold and silver inside them.
For even more options, read through our ultimate guide to investing in precious metals.
It’s safe to buy gold online, as long as you buy from a trustworthy vendor, verify you’ve received the right items, and store them securely.
However, scams certainly exist out there, so be cautious of anything that seems too good to be true. It’s also typically best to avoid marketplaces like Amazon and eBay, where anyone can sell (and fake gold is more commonly found).
In most cases, you’re better off going to your local bullion dealer.
In the Seattle area, Bellevue Rare Coins has been the most trusted source for precious metal bullion for over 40 years. Stop by today to browse our selection and enjoy industry-leading prices.
