Today we shall take a look at the best gold coin dealers. If you have, as such, been thinking about purchasing gold coins, or you are here just to learn a thing or two about the players in this industry, then read on till the end of this article to find out more.
Investors have held gold for thousands of years, owing to its nature as a valuable commodity, but it has become even more popular with there being a significant number of places from which more people can purchase various forms of gold, including gold coins. As you already know, physical gold can be purchased in many different forms, including coins, cars, or ingots.
Owning physical gold has been seen by many investors as a hedge against the forces of inflation, as a way for them to diversify their portfolios from market uncertainties. Most investors purchase their gold from reliable and trustworthy gold coin dealers, which we shall discuss below.
Best gold coin dealers
Purchasing gold can feel like a risky venture, more so due to the likelihood that you will end up with counterfeit gold. In other cases, one can end up losing their money and other important financial details to scammers. Every time you need to purchase gold coins, you need to assess the company you have in mind based on:
- Reputation on consumer trust sites,
- Transparency in pricing
- Efficient and affordable shipping
- Excellent customer service
American Precious Metal Exchange (APMEX)
APMEX, which is the world’s largest online retailer of gold has been around since 2000. It has more than 200 staff and has sold more than 130 million ounces of gold and silver since its inception.
This company was founded by Scott Thomas who after selling his grandfather’s coin collection on eBay decided to establish his own business to facilitate the purchasing and selling of precious metal coins. After having realized the massive potential of his business, he decided to go all-in, thus creating a stable foundation for this company to thrive.
The Oklahoma-headquartered firm has since grown into a billion-dollar firm and serves customers in over 60 nations around the world. It also offers storage services to gold buyers who would not want to store the gold in their homes. The storage of the physical gold is overseen by Citadel, which is a subsidiary of APMEX.
APMEX has a simple-to-use website, which offers transparent online pricing, third-party shipping options, as well as reliable customer support.
Money Metals Exchange
This company (Money Metals Exchange) was founded in 2010 but has grown quickly to become home to over 250,000 customers. It has a consumer-centric approach that is characterized by competitive pricing, personalized services, and a great reputation to top it off.
Customers who are shopping for gold using its official website can easily navigate through every section and category and get the items they are looking for. Newbies in the precious metal investment industry can get started by subscribing to the automatic monthly savings plan ($100), or by purchasing this company’s prepackaged portfolio.
When shopping for gold coins through this company’s website, they usually lock in the price of the items for 10 items, to allow you to enter your payment details. Money Metals allows you to pay for your items using any of the following payment options:
- Bank wire transfer
- Credit or debit card
- Money order
There is usually a 4% processing fee, as well as a $1500 purchase limit any time you use your credit/debit card or a PayPal account.
Shipping is usually free on orders that are worth over $500, which is not that high considering that gold is quite expensive. You may not pay over $8 for orders that are worth less than $499 so this company delivers on its promise to keep the costs low.
If you do not want to store the precious metals at your home, you can have them stored in Money Metals’ vault storage facilities in:
The good thing is that your items will be stored in segregated storage, and will be taken by the insurance cover provided by Lloyd’s of London. This company offers customer service during business hours, and you can reach out to them with any concerns through phone, email, and chat.
If you are new to buying gold coins, be sure to check out the resources presented in their extensive online library, where you will access enough materials to help you find your way.
JM Bullion was founded in 2011 and has over the past decade grown to be recognized as one of the fastest-growing companies in the USA. The fast growth can be attributed to this company’s commitment to offering its customers a wide selection of gold coins, accompanied by the following elements:
- Transparent pricing
- Dedicated customer support.
- Well-structured and automated savings plans
- Simple purchase process
Besides gold coins, you can also purchase other precious metal products from this company, including silver, platinum, palladium, and copper. This company calls upon customers to enjoy these products with no commissions or additional fees. It also sells its products to members of the military with significant price discounts, so if you know anyone who is serving in the military then you can suggest to them to purchase some gold coins.
You can pay for your items using any of the methods listed below ( along with the purchase limits):
- ACH transfer – $75,000
- Cryptocurrency – $250,000
- Paper check – $75000
- Credit card/debit card – $25000
- PayPal – $25,000
- Bank wire – $250,000
The credit card and PayPal payments attract a 4% processing fee.
JM Bullion offers free shipping for orders over $199 and takes care of the insurance costs for such orders. For orders less than $199, you may end up paying about $7.99 or more depending on whether you update your shipping methods as you fill in your checkout details.
You can have JM Bullion ship the products to you, or you can have the gold coins shipped for free to TDS Vaults, which is this company’s storage partner. TDS Vaults is known for the provision of high-security storage services all over the world.
Frequently Asked Questions on the “best gold coin dealers”
1. Where can I sell the gold coins?
You can sell your gold coins to local dealers or through eBay. Another option is to check whether the company that is selling you the coins has a buyback program so that you can simply ship back the coins to them in the future.
2. Is it possible to invest in gold without buying gold coins?
Yes, you can also purchase gold-based paper assets such as mining stocks, ETFs, or mutual funds. Be sure to weigh the pros and cons of each alternative option before whipping out your wallet. Read More about it here: How to Invest in Gold Bullion? | Coins, Bars, or maybe ETFs?
3. Can I buy gold coins and give them as a gift to someone?
Yes. You should, however, avoid buying them in large quantities, since the recipient will end up being saddled with storage fees. The gold coins may also not increase in value by the time they are getting to the recipient, for him or her to sell them upon reception.
4. Are all gold coins valued the same per ounce?
No! Not all gold coins have the same gold content, which makes it impossible for them to be sold at the same price per ounce. Bullion Coins that have higher gold content cost more than other types of gold coins that have a lower gold content or low fineness.
That will be all for this post on the best gold coin dealers. I hope that you enjoyed reading it and that you are now more informed about the subject. If you still have some questions pertaining to this post, you can drop them in the comments section and I will get back to you ASAP.
I wish you well,
Eric, Investor and Team Member at Gold Retired!