Gold 101: 5 best places to buy your precious metals

(This is part one of a series titled “Gold 101” that is meant to educate readers on precious metals in general, including gold and silver. For the next several weeks, Global Gold News will give information, advice and news about bullion).

As gold remains trading at around the $1,200/$1,300 mark, it still remains an attractive buy for gold bugs and those interested in owning precious metals. Some argue that silver is an even better play as it is valued at about $20 per ounce and is projected to jump to as much as $100 per ounce in the future.

In this market, it is quite difficult to purchase gold and silver due to the paucity of bullion dealers in your town or city. A lot of gold and silver buyers have to use the Internet to make their acquisitions of precious metals, but there are many stores popping up that aren’t just buying your gold but selling to you as well.

Whether it’s online, your bank or a bullion dealer, what are some of the best places to buy your yellow and silver metals? Here is a list of the top five establishments to start increasing your gold and silver inventory (one hint: not your financial institution).

Silver Gold Bull

Despite the high shipping costs, Silver Gold Bull continues to be one of the premier source for everything gold, silver, platinum, diamonds and more. It has a wide selection of coins and bars and also offers deals from time to time, such as its latest $15 store credit offer if customers post an unboxing video on YouTube.

Cache Metals

This website also maintains a large inventory of large increments of bullion. However, akin to Silver Gold Bull, it does have high shipping costs, but it does offer free shipping and insurance on orders of more than $5,000.

Ebay

It is true that sellers on eBay do sell their products with high price tags. For instance, if one were to purchase one gram of silver, it would be $0.66 on the market, but heading on over to eBay it lists for $2.69 plus $1 shipping – one can get a 1/10 of an ounce silver coin. Omitting the prices, eBay is a terrific source to buy rare coins and small increments.

The Bullion Mart (for Canadians)

The Bullion Mart is one of the few establishments that sell gold and silver in the city of Toronto. It lists its bullion at the market rate and offers accounts for consistent purchasers.

GoldSilver.com

Just want to make a simple purchase of a one-ounce gold coin or 500 ounces of American Silver Eagle coins? Then GoldSilver.com is a good website to buy from. Its shipping costs are calculated by taking 0.6 percent of the metal value.

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