Where is the best place to buy gold? If you're interested in buying gold, you're not alone. Buying gold online has seen a surge in popularity over the last few years. Several factors have converged to make this option increasingly attractive for investors and consumers alike.
Subpar
Golden State Mint, located in Central Florida, has been involved in the precious metals business for over 45 years as a family-run operation. They pride themselves on having the shortest lead times in the industry and affiliations with various respected organizations like the International Precious Metals Institute and the Token and Medal Society. They specialize in minting copper, silver, gold, platinum, and palladium, offering unique collections such as buffalo, Chinese zodiac, and more.
Lots on the list, but little available to order
Unfortunately, you're likely to be disappointed with the selection at Golden State Mint. That might not happen right away: you'll see Valcambi Gold CombiBars, PAMP Suisse gold bars, American Gold Eagle coins, and even "wearable wealth" gold bracelets on offer. Sounds great! But, when you start to browse, you may discover that almost everything listed is designated as "filling prior orders only". At the time of this review, there were only 9 options available for purchase, ranging from $2,000 gold coins to $64,000+ gold bars.
Military discount
On the positive side, you won't pay shipping for any of those purchases: GSM gives you free delivery on orders of $199+, which encompasses everything we saw in their inventory. Also, if you're an active or veteran member of the US military, you're eligible for a 10% discount on your purchase. Just click the "Military Discount" link at the bottom of the site and follow the instructions for verifying your info.
Current prices added
Another small win for Golden State Mint is that they've added a ticker at the top of the site, to keep investors informed as to the current rates for gold, silver and the G/S ratio. That's an upgrade since our previous review.
Good reputation but not many reviews
We have no concerns about this gold retailer's reputation, either. The Better Business Bureau gives Golden State Mint a perfect "A+" rating and accreditation, and the small handful of investor reviews we discovered were all enthusiastic as well. There's just not a lot of them to consider (at least, not independent feedback beyond the testimonials page offered by GSM).
Too limited
However, at the end of the day, Golden State Mint is going to come up short for most investors. They don't have enough options in their inventory to attract collectors, there's no option for storage for anyone that doesn't want to keep their gold in their home safe (or under a mattress), you get the idea. The military discount might be appealing if that applies to you, or if you prefer to work with a smaller family-owned business, but for everyone else we'd recommend looking at the higher-ranked options on our list for buying gold.
Continued from above...
If you're interested in buying gold, you're not alone. Buying gold online has seen a surge in popularity over the last few years. Several factors have converged to make this option increasingly attractive for investors and consumers alike.
Of course, buying gold has been a popular investment and store of value for centuries. One primary motive is as a hedge against economic uncertainty. In times of financial instability or inflation, investors seek assets with intrinsic value and a history of retaining worth. Gold, with its enduring allure and historical significance as a store of value, becomes an attractive option.
Regardless of global economic conditions, investors also buy gold to diversify their portfolios. This spreads financial risk across different asset classes, which can strengthen a portfolio. Additionally, gold has intrinsic value, as it's used in industries like jewelry and technology, creating demand that can support its price.
In recent years, online platforms have made it easier for people to purchase gold from the comfort of their homes. Buying gold online offers several advantages. First, it provides convenience. You can research, compare prices, and make purchases anytime, anywhere. Online platforms typically have a wider selection of gold products, from coins to bars, making it easier to find the exact type of gold you want.
Reputable online retailers typically offer lower premiums over the current market price, making it a cost-effective choice. And, of course, online transactions are secure and transparent, with most dealers offering multiple payment and delivery options.
So, if you're interested in buying gold online, where do you go? There are so many options out there, and not all of them are as reputable. As you consider which platform to use for your purchase, keep these factors in mind to make a comparison:
Buying gold online can be a practical and secure way to invest in this precious metal. To help you in your gold buying search, we here at Top Consumer Reviews have researched and ranked today's most popular sites to buy gold. We hope this information makes it easy for you to get the gold you're looking for!
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What You Should Know About Buying Gold
During the Klondike Gold Rush of 1898, prospectors did all sorts of crazy things in the name of finding their piece of the golden pie.
While things aren't quite that extreme today, gold is once again a hot commodity, with everyone from amateurs to seasoned investors giving it full consideration as part of their investment portfolio.
And why not invest in gold? There are a myriad of reasons why investing in gold is a good idea. The biggest reason is that unlike paper currency, gold is not affected by inflation or global uncertainty. During times when a country's paper currency is losing value, gold will gain in its worth.
The price of gold has fluctuated wildly in recent years. At the start of 2012, for example, gold was priced at $1,700 per ounce. By October of that year, gold had risen in price to over $1,800. Despite the unpredictable change in value from one day to the next, it's never too late to invest in gold. While it is true that gold likely has hit its peak and will not climb any higher, it always will have value higher than paper currency.
However, as with any investment, it is a good idea to fully understand what you should know about buying gold before taking the plunge.
First and foremost, the best way to buy gold is in its purest form: bars, jewelry and coins. Among the most popular form of gold bullion for investors is the gold coin. The trick to buying gold bullion is to buy it as close to its "spot" price as possible - or within no higher than a 10 percent premium. Premiums higher than 10 percent will make it difficult for the investor to turn a profit. The price of gold would have to rise to that level or beyond for the buyer to make any money off of their investment, and that is unlikely to happen. Gold bullion can be stored at a number of places, including safety deposit boxes at local banks. There also are some gold-specific storage facilities across the United States.
If you choose to purchase gold in this form, your next consideration should be where to keep it. Unlike paper money, which can be deposited into the local bank, gold bars and coins can be a lot more challenging to store. While many banks will allow this kind of material to be stored in a safety deposit box, most banks do not insure the contents of the boxes. So if the bank would be robbed, and your gold is among what was taken, you will not be covered for your losses. Storing it at home also is not recommended, as most homeowners' insurance policies will not cover the cost of gold in large amounts. The best option is to use a "gold pool", which is a service that holds your gold for safekeeping. These services insure all of their customers' gold against theft and damage.
Finally, it is important to purchase your gold from a reputable dealer. Make sure the dealer has recommendations and has been in business for at least a decade. Only dealers which purchase their product from the U.S. Mint are legitimate.
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