What Is The Best Way To Buy Gold And Silver?

Buying gold and silver can be a smart investment choice, and there are several ways to acquire these precious metals. 

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The best way to buy them, however, depends on your financial goals, preferences, and circumstances. 

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With that in mind, here are a few of the most common ways to buy gold, silver, and other precious metals: 

1. Physical Bullion

Buying physical bullion involves purchasing assets like gold and silver coins.

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Today, many government mints produce gold and silver coins that are widely recognized and traded. Examples include American Gold Eagles, Canadian Maple Leafs, and American Silver Eagles. 

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These coins often have a face value and are considered legal tender. You can purchase these coins in person at coin dealerships or online. 

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Another option is gold and silver bars. Bullion bars come in various sizes and weights, making them suitable for different budgets and investment goals. They are typically sold by weight and generally cost a small premium above the spot price. 

2. Online Dealers

Today, there are dozens of online dealers that specialize in selling physical gold and silver bullion. These dealers offer a wide range of products, competitive prices, and convenient delivery options. 

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Notably, they also tend to offer a variety of payment methods, including e-checks, ACH, and more. These are attractive options for anyone who wants to purchase precious metals as securely as possible. 

3. Local Coin Shops ( LCS)

Local coin shops are physical stores that buy and sell precious metals, including bullion, coins, and bars. 

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Visiting a local coin shop is a great way to inspect the products in person, learn about purchasing options, and enjoy benefits like immediate access and the convenience of credit card payments. 

4. Gold and Silver ETFs

Exchange-traded funds (ETFs) like SPDR Gold Trust (GLD) and iShares Silver Trust (SLV) are becoming increasingly popular. 

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Notably, these ETFs allow investors to invest in metals without physically owning the metals. 

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Instead, investors buy shares in these funds, which are backed by physical bullion stored in vaults.

5. Jewelry and Collectibles

Another popular way to invest in precious metals is to buy gold and silver in the form of jewelry or collectible items. 

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While this is an accessible approach, it does have a downside: although these items may have aesthetic value, they may not be the most cost-effective way to invest in the metals, as they often come with a significant markup.

Security is Paramount When Buying Gold and Silver

If you’re considering buying gold and silver, it's important to research the products, understand the associated costs (e.g., premiums and storage fees), and consider how you’ll pay for the methods you acquire. 

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Above all else, make sure the payments you issue are secure, compliant, and backed by a payment processor like Seamless Chex, which facilitates safe and fast e-check, ACH, and credit card payments for precious metals dealers and their customers.

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Ready to learn more about our products or services? Contact us today. 

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