Should I buy or sell gold through a local or online dealer?
Ordering precious metals from an online dealer makes some people understandably nervous. This is one reason local brick-and-mortar precious metals dealers remain in business.
Does it really make financial sense to shop locally instead of having your metals shipped to you by a larger dealer?
At first glance, buying bullion online seems to have numerous advantages. The product selection could be better, and there might be a slight price advantage; however, you will also accrue additional shipping costs and run the risk of mail theft. Other extra fees could include insurance fees, handling fees, and transaction fees added at checkout, which can significantly raise the price per ounce. Another potential drawback is that online retailers do not accept physical cash.
However, when you purchase bullion at a local coin shop, you get your purchase immediately, rather than having to wait for shipping. You will know precisely where you got the bullion and the person who sold it to you, so if there is a problem you know exactly where to go.
Brick-and-mortar shops usually give you more protection from phony or overvalued products. Unfortunately, overvaluation is occurring more and more often online. A local coin shop will always fix this type of situation in your favor for risk of getting a bad review on Yelp or Google.
For many bullion buyers, privacy is a key reason for buying from a local coin shop. When you share personal information online, you run the risk of that information being hacked or compromised. Do you really want any person or entity out there knowing that you are bullion stacking? For that and many other reasons, bullion buyers often prefer to buy from a local coin shop as opposed to buying from online dealers.
Selling precious metals to Oakton Coins & Collectibles is the most secure and convenient method to get the value you deserve.