Years ago, collectors and investors were required to visit local coin shops to purchase gold or silver. Fortunately, customers now have the benefit of shopping online for all their precious metal needs. From larger product selection to lower prices, there are many benefits to purchasing gold and silver from an online dealer. While we may be understandably biased in this particular matter, we would like to take this opportunity to address both the advantages and disadvantages of buying gold and silver online.
Perhaps the biggest advantage to purchasing gold and silver online is its easy accessibility. Unlike local coin shops which restrict both the hours and location of your shopping, online dealers enable you to make your purchases anytime from any location. With this level of freedom, customers no longer have to take the trouble of driving to the store. They can simply shop online from the comfort of their own home or office.
Sometimes when shopping in a local coin shop, sales associates can get impatient with customers who are unsure of what they are looking for and may rush customers while browsing. There are even sales associates who may pressure customers into making decisions they aren’t comfortable with. However, shopping online relieves customers from this pressure. Without any sales associates constantly hovering over them, customers can browse at their own pace which allows them to make more informed decisions.
Another advantage to purchasing gold and silver online is the privacy. Customers shopping at home are able to make purchases and investments in complete anonymity. In contrast, once seen making a purchase at a local store, people will be aware of the fact that you could potentially be storing large amounts of gold and silver in your own home. Online purchases are also more private with regards to your personal information. Because they are primarily an online enterprise, online dealers put a tremendous amount of effort into protecting the information that is exchanged during their transactions. Local coin shops may not exercise the same level of discretion, when it comes to their sales records, which could put much of your personal and financial information in jeopardy.
Online gold and silver dealers tend to offer a wider selection due to their broader clientele base. Because thousands of customers view their website on a daily basis, online dealers can offer a variety of different products with the confidence of knowing that there likely will be customers interested in purchasing them. Local coin shops, on the other hand, must develop a limited selection based on their smaller base of regular customers since they cannot afford to purchase products that may never sell. Online dealers also benefit from their virtual storefront, which offers them an endless amount of web pages to showcase their products. Local coin shops are restricted to the physical confines of the store’s display cases and windows.
Online dealers typically have the advantage of being able to offer customers lower prices on their purchases than local coin shops. In contrast to their brick and mortar brethren, online dealers usually do not have as much overhead. Additionally, online stores can offer lower prices due to all the amount of business they generate, and are able to offer volume based pricing to customers.
Purchasing gold and silver online enables customers to use a variety of payment methods to complete their transaction. Such forms of payment can include personal checks, bank wires, credit/debit cards and PayPal. Most local coin shops are only equipped to process credit card payments and cash. However, these limitations can pose certain problems for those who wish to make larger investments. Many local coin shops do not have the time to process bank wires, nor do they typically accept checks due to the risk of fraud or insufficient funds.
When buying precious metal from a local dealer, customers are required to pay the mandatory taxes as prescribed by their state laws. However, online shopping allows customers to bypass such laws by making their purchase from a dealer that does not charge sales taxes in their state. Some online dealers are able to do this based on the location of their company and at JM Bullion, we do not charge any sales tax regardless of your location. Please be advised however that this is merely a guideline and we urge you to contact your tax professional for complete details regarding your state’s official tax policies.
Many may argue that buying precious metals online puts the customer at risk, since they cannot see the item the wish to purchase beforehand. While we agree that there are less reputable sites that may attempt to scam customers, we would like to point out that in certain instances customers are actually safer with online shopping since most dealers buy from the mints directly. Local coin shops tend to double as a pawn shop and may fail to verify whether the collectible they purchased is authentic. As a result, customers still find themselves paying for falsely described items.
One of the only disadvantages to purchasing gold and silver online is the time is takes for your order to be delivered, which can range anywhere between a few days to a few weeks, as well as potential shipping charges. Buying precious metal locally allows you to simply purchase your items and take it with you. Handling your own purchases also allows you to ensure that they arrive to their destination safely, while sparing you from the shipping and insurance fees typically charged by online dealers. While JM Bullion cannot offer instant delivery, we are pleased to offer our customers free shipping on orders over $99 and insurance on every order to ensure that your investment arrives safely and without any additional expenses.
With the popularity of ordering gold and silver merchandise over the internet, many investors and collectors are also turning to online dealers to purchase copper and platinum pieces as well. When purchasing these precious metals online, customers are able to enjoy the same benefits that they would receive with their gold and silver purchases. Customers who wish to buy copper and platinum will also find that they have more choices online than if they were to browse local stores. Lastly, customers buying copper and platinum online will be able to avoid extra expenses by finding dealers who don’t charge taxes on these particular metals.
JM Bullion provides its customers all the advantages of online shopping along with several bonus services, including free shipping on orders over $99 and insurance on all orders. Shopping at JM Bullion allows customers to browse from a wide collection of merchandise in the comfort and privacy of their own home and then, make their purchase in one simple and secure transaction.
With a trusted name like JM Bullion, customers can rest assured that their investment will arrive in a safe and timely manner. And of course, JM Bullion offers its valued customers the most competitive prices in the industry. If you would like further information regarding the ordering or shipping process, please feel free to contact us at 800-276-6508. You can also reach our supportive staff through live chat or online form submissions.