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Is There Value in Buying Gold & Silver Coins Locally Versus Online?

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Is There Value in Buying Gold & Silver Coins Locally Versus Online?

The coin and bullion industry provides consumers with many different buying opportunities. As a customer, you have the option to purchase gold and silver coins in traditional coin shops, by appointment, online, through the mail, at coin shows and from the general public. Of course, it goes without saying that we all want to buy gold and silver coins and bullion at the most competitive rates that we can find.

However, pricing is usually on par with the level of service and/or insight that you receive. If none is required or needed, then you may be able to scour the internet looking for the cheapest online prices and purchase from that company. However, due diligence should be done before considering an online purchase, as there may be a reason why one coin dealer’s pricing is a good bit less than the rest of the market.gold and silver coins and bullion Unfortunately, there have been instances in the past of online coin dealers going bust due to shady business practices.

If you’re like most of us, you probably have some questions about the coins or bullion you’re buying, such as which coins are best for you and your situation, what causes gold and silver prices to fluctuate, potential catalysts that could affect prices and changes in the global market and demand that may affect prices. If you find yourself in this camp, even if you have a decent bit of experience in the industry, then it may be worth the time and expense to consult with an expert in the field.

One of our good friends is contemplating a large transaction and reached out to us for some suggestions and guidance. We shared with him some thoughts and ideas that we thought he could benefit from. Once we wrapped up our conversation, he paused and said that rarely does someone present him with an angle he had not considered and that the information we provided was “priceless.”

While there’s no guarantee that we’re going to share an “ah ha” moment when we meet with customers, there is oftentimes something we share that they had not considered, which could impact someone’s buying and investing decisions.

We share all this information with you to let you know that there’s value in being able to discuss your options and strategy. While you may be very familiar with coins and bullion, we eat, sleep and breathe coins.

We’re immersed in the market 5 – 6 days a week, are well connected in the industry and have our pulse on what’s happening, including shifts in trends before the general public is aware of these changes.

In one recent example, we had a customer that was interested in purchasing a particular coin. He looked online for the best pricing and found a rate that on the surface looked very appealing. However, once he drilled down a bit, he realized that the pricing was for a large bulk purchase payable via wire. When we compared our rates to those online, we were only nominally higher than the online dealer.

1/10oz American Gold Eagle Coin Pricing
Sample Pricing for a 1/10th oz Gold Eagle

In this case, the individual decided that saving a few cents per coin was more important than meeting in person, taking immediate possession of his items, not having to worry about his items being delivered or being home to sign for the package. Not to mention, when you order online, you’re not able to see the items in advance to confirm that they’re in retail-quality condition and aren’t able to consult with someone on your purchase or the current market.

It’s possible that this person is an expert in the field, but rarely do we come across anyone we do business with who doesn’t have any questions or at the very least, is interested in using us as a sounding board to confirm that they’re on the right track and that their thought process is sound.

Our main point and takeaway is that information may be more important than you realize and that any buying decision, including pricing, should be weighed against the value of information that you forego when buying gold and silver coins online.

In most fields, consulting with an expert will cost hundreds of dollars. Buying from a local coin dealer, all factors considered, may ultimately be the cheapest expert advice you receive and the most beneficial way of acquiring gold and silver coins.

If we can help you acquire precious metals or if you have questions regarding the information discussed above, don’t hesitate to reach out through email or phone!

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Tony Davis
Tony Davis is the owner of Atlanta Gold & Coin Buyers, a full service Atlanta based coin and bullion dealer specializing in buying, selling and appraising coins and coin collections of all types and sizes. Tony frequently writes on various economic and numismatic related topics affecting the coin and bullion markets and has been published on some of the industry’s leading websites, including Coin Week, the American Numismatic Association, Coin Collector, Coinflation, and Coin Auctions Help, just to name a few. Visit Atlanta Gold & Coin’s website at atlantagoldandcoin.com to obtain additional information on the products, services and educational resources offered by his company. Tony can be reached at sales@atlantagoldandcoin.com or at 404-236-9744

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