Buying Gold and Silver Online – Pros and Cons

Should you purchase your Gold and Silver coins from an online dealer, in person at a coins shop, at a coin show or on ebay?

There are several advantages to purchasing your coins from an online dealer as well as a few drawbacks. There are many online dealers to choose from but without the reviews and help of other consumers it would be difficult to choose a reputable dealer. Over time, at we’ll build a user community here at and leverage the collective wisdom of our members in making those decisions but for now let’s talk about the process.

61068 Obv Buying Gold and Silver Online   Pros and Cons

Look at two or three dealers, maybe start with,, or Bullion Direct to name a few (These are not affiliate links). Check the availability of the type of coin you are looking for. Due to extraordinary demand some types of coins are back ordered or “on delay”. Look at the dealer’s premium, shipping costs and insurance then calculate a total cost and compare two or three dealers. Make sure that you’re comparing the same product of the same quality in the same issue year. Prices can vary widely from year to year and by quality.

Compare prices then make sure to factor in service and dealer ratings. Read the on-site reviews and keep in mind that they may be edited by the site. In general you’re looking for on-time delivery, timely communication and confirmation of your transaction and any delivery delays. Can I speak to a real person on the phone if I have questions and how long does it take to get a hold of someone? What happens if my shipment is late, doesn’t arrive, is damaged, is not what I thought it would be?

There can be some anxiety that you’ve just sent of a sizeable chunk of change and well, where are my gold coins? There is some comfort in a tracking number from the shipper and make sure all deliveries are dependent on your signature. Your may have to go to the post office on Saturday to sign for and pick up you gold and silver coins but that is just one of the drawbacks of ordering online. On the plus side you can order it straight from the dealers website and have it delivered straight to your house most of the time. No physical brick and mortar shopping, no haggling with a dealer, no driving back and forth with cash.

On the downside, the record of your purchase is out there on the dealer’s database. If you paid by credit card there is a rather large purchase on your card from the online gold dealer. If you pay by bank check or cashiers check you may be questioned by your banker believe it or not. Any privacy is lost while transacting online. A privacy policy typically tells you what is not private first, most everything, then what will be kept private second.

Check the reviews, look for the signs of superior service and there should be no issues.

In the next post we’ll talk about the pros and cons of purchasing your gold and silver coins directly from a dealer, over the phone or at a coin show. Remember, paper money will soon be worth every ounce of paper that it’s printed on.

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