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.
Fair
Universal Coin & Bullion, a company specializing in rare coins, has been serving customers since 1995. As the name suggests, their primary focus is on selling coins, distinguishing them from dealers offering gold bars, jewelry, or other forms of precious metals. What sets them apart is their commitment to ensuring the authenticity of each gold coin by attaching a unique barcode. Similar to many competitors, they assist buyers by prominently displaying current market values at the top of their website.
Deep knowledge available
Universal Coin & Bullion offers valuable educational resources for customers looking to enhance their understanding of the gold industry and market trends. Three books authored by Mike Fuljenz, the president of Universal Coin & Bullion, are available for purchase. These books, titled "Type Three Double Eagles 1877-1907", "Type Two Double Eagles 1866-1876" and "Indian Gold Coins of the 20th Century," provide valuable insights into the world of rare coins. Additionally, Fuljenz delivers a weekly report on gold and silver, discussing their performance in the current economic climate and their impact on businesses. The president's extensive industry experience has earned him numerous awards, solidifying his reputation as a trusted gold expert.
Not much gold to choose from
However, the selection here makes it less than ideal for many investors hoping to buy gold. At the time of this review, there were only 28 gold coins and one gold bar to choose from, and many of those were listed as "sold" or "out of stock". The majority of their coins fall under the category of United States Mint rare coins, with a handful of options from Canada, Austria, South Africa, and Australia.
Not a smooth online buying experience
While most of the available coins can be easily added to your cart for immediate purchase, some coins require a call-in order, which might not be as convenient for some customers. We also noticed, as we added gold coins to our cart, that most of the available options had an expected delivery time of 20+ business days. This is definitely not the site to buy gold if you want it in a hurry. At least your shipping is likely to be free: Universal Coin provides complimentary delivery on all orders over $199.
Discounts when you don't pay with a credit card
If you'd like to save a little on your gold purchase at Universal Coin, consider paying with anything but a credit card. You'll get a 3.85% discount if you opt to make your purchase with a check, money order, bank wire, and so on. Those options are made available when you get to the checkout page.
Limited appeal for many investors
In terms of reputation and trustworthiness, Universal Coin & Bullion continues to have an "A+" rating and accreditation from the Better Business Bureau. Some feedback for this gold seller is positive, saying that the coin prices came in much lower than competitors' and they didn't feel pressured into buying anything else. However, some customers have complained that the customer service response time can be slow and the website is glitchy. And, others have had an issue with Universal's one-item limit for each type of gold coin they offer, making it a less suitable choice for anyone looking to make a significant investment in gold overall or in a particular coin.
Not recommended overall
While Universal Coin & Bullion has received positive feedback for their pricing and order processing efficiency, their inventory of gold coins, coupled with some customer service concerns, will make them much less appealing to the majority of gold buyers. Universal Coin & Bullion is too limited overall to earn our recommendation for those seeking to invest in 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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