What Is the Best Way to Buy Gold and Silver?

Over the years, gold has been a method of storing wealth because it is indestructible and limited in supply. Even during economic crises, its value increases. As a result, it is a safe haven for investors.

Silver is another choice precious metal for investors. It has many industrial applications, which is equally responsible for its price fluctuations. Also, it has a high risk-reward ratio, depending on the diversity of your portfolio.

Buying precious metals is now easier than in the past. Several options exist today, leading to the question of “what is the best way to buy gold and silver?” What you consider “best” depends on your preference as a customer. However, we will discuss different methods of purchasing precious metals.


Places You Can Buy Precious Metals

The popular places to buy precious metals are local stores and online brokers. Local stores are the oldest method of purchasing gold and silver. Customers can walk-in and view each item before making payments.

Online brokers or dealers are quite new. But they came with a bunch of market disruption, offering us an advanced method of purchasing bullion. Their stores are on the internet, and you can view the items you want as well as their prices from anywhere in the world.

Purchasing Gold and Silver: Online Dealers vs. Local Stores

Online dealers and local stores have their similarities. Before purchasing, customers can view the catalog and select products. However, they are different in some ways. These differences can affect your shopping experience.


Local stores are bound by location. You can only patronize them if you live around the area or can travel to meet them. Also, physical stores have opening and closing hours. This means you can’t do anything outside those times.

On the contrary, online stores are accessible from anywhere in the world. You are also not restricted to purchasing at certain times of the day. The stores offer 24/7 services.


Internet fraudsters exist even in the online precious metals business. They deceive customers with fake product descriptions. Their goods are usually overpriced, and they may even run away with your money.

However, it is still safe to buy gold and silver online. You only need to research and find a reliable dealer. The website of reliable dealers are PCI compliant and use SSL encryption. You may want to watch this video to find out whether a website is secure or not.

Furthermore, reliable online dealers provide insurance for their shipments and can verify the authenticity of their merchandise because they have direct dealings with mints. They allow customers to make anonymous purchases, which is impossible in a physical store. As soon as you walk into a local store, you become a target of burglary or theft. Some local dealers still try to sell fake items to customers.

Product Selection

In most cases, local stores stock only what the majority of their customers prefer. For instance, if customers buy more gold coins and less of bars, the merchant will likely have more gold coins. The merchant may not even have enough space to display a lot of items unless he or she is willing to rent a warehouse and pay for security. But this might add up to the cost of the precious metals, making them quite expensive.

Online dealers have a wide range of products because their customers come from different locations and have unique preferences. They also have ample space to display those products since they don’t have to rent a shop.


It is common to find lower prices online for the same item that has a big price tag in a local shop. This price slash is due to the fact that online dealers do not pay rent and other expenses involved in running a brick-and-mortar store.

Tips for Choosing a Reliable Online Bullion Dealer

The first factor to consider when planning to buy gold and silver online is the reputation of the seller. You can weigh their reputation using their track records. Companies with several customer reviews may have been in business for quite some time or have gained trust through a large number of transactions.

In addition to customer reviews, you want to ensure that the company has been in existence for at least 5 years. The older sellers are better because such they have an established structure and an existing customer base. New companies do well too, but you can easily judge from their customer reviews and ratings. You can visit https://www.bondsonline.com/goldsilvercom-review/ to check out what an honest customer review should look like.

Other things to take note of are:

Physical Address

Although the dealer is available online, they should have a physical address that you can verify. If they only list a P.O. Box, avoid them.

Clear Policies

The dealer should have a policy for returning products. Most dealers allow customers to return products within 3 days after purchase. They also have a buyback policy.

You may want to check whether they charge a fee for restocking and the procedure for selling your gold and silver back to the dealer. Look out for all enlisted prices. If you do not find them, ask the seller. Ensure you read every bit of information on the seller’s website before making a purchase.

No Hidden Fees

A reliable online gold and silver dealer has clear pricing. The prices of precious metals indeed fluctuate, but dealers should be able to provide real-time prices to avoid misleading customers. Also, reliable dealers do not charge extra fees for each purchase. Ensure you confirm all the fees involved in the transaction before closing the deal.

Payment Methods

Online dealers accept various payment methods: PayPal, Stripe, Bitcoin, credit cards, wire transfers, etc. Ensure you use a dealer that accepts your preferred payment method. However, note that some financial service providers charge a percentage for transactions.

Closing Thoughts

In a time when the volatility of the stock market is increasing, investors turn to other commodities for safety. Gold has held its reputation for being a safe haven during such periods. If you want to invest in precious metals such as gold and silver, the two options at your disposal are online dealers and physical stores.

Both options have advantages and disadvantages, which we discussed above. If safety, price, and convenience are your priority, buy from an online dealer. Otherwise, locate a local store near you.

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