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Why Buy Gold Online?

One common question gold investors may face is whether to buy their gold or precious metals from a local bullion or coin dealer or buy from an online precious metals dealer. The fact is that buying precious metals online can have a number of advantages. This short guide will outline why buying your gold online may be a better deal.

Lower Dealer Premiums

If you were to compare the premiums on several different coin or bullion products, you will likely find that an online precious metals dealer will quite often have lower prices than a local bullion shop. A Canadian gold maple leaf one ounce coin of the same year, for example, will be the same whether it is bought from dealer A or dealer B. When comparing apples to apples in this way, one wants to get the lowest price possible all else being equal.

Why do online dealers often have much more competitive prices? The reason is simple-a lower cost of doing business. A brick and mortar coin shop has many expenses that online dealers do not. Expenses like rent or mortgages, utilities, real estate insurance and others. These costs of doing business often force physical store owners to charge more for their products in order to maintain a profit margin. It all comes down to simple math….

Larger Product Selections

An online precious metals dealer is not limited by space. They can carry as much coin and bullion product as they like. A physical storefront, however, is limited in the amount of space they have to store coin and bullion. The larger a brick and mortar location is, the more it costs, the more it costs, the more the dealer must charge in premiums to maintain a profit margin. Online gold and silver dealers do not have this problem. Because they have no physical space limitations or costs, they are able to often offer a significantly wider selection and do so at a lower cost.

Convenience

When buying precious metals online, one can browse various dealers and do their buying from the comfort of their own homes of offices. No salespeople, no buying pressure and unrivaled convenience. Comparison shopping for coin or bullion is extremely easy and can be done with the click of a mouse. One can compare dealer prices, shipping policies, buyback policies and more from home on their own time. The ability and ease of comparing online precious metals dealers will help ensure that you get a fair price for your coin or bullion.

Security Issues

Another issue worth consideration is security. If you go and buy thousands of dollars worth of coin or bullion from a local coin shop, you have to get that coin or bullion home or to your storage location safely. Needless to say, this does present a security issue. Although unlikely, there are numerous ways you could potentially lose your bullion while in transit. Something to think about….

When buying gold or silver from an online precious metals dealer you do not have this problem. Online dealers will ship and insure your parcel while en route. They ship coin and bullion in unmarked, discreet packaging that does not reveal the contents. Online dealers will ship your coin or bullion to your home or location of choice. Because your metals are insured until they arrive, this eliminates a number of potential security issues and adds peace of mind.

Buying gold, silver, platinum or palladium online has never been easier than it is today, and as you can see, it has numerous potential advantages. If you are looking for a convenient, cost effective and secure way to add to your precious metals holdings, online dealers are an excellent choice.