3 Best Gold & Silver Dealers – July 2024
Gold, silver, platinum, and palladium are often purchased to diversify investment portfolios and hedge against inflation and economic instability. We’ve identified some of the best precious metals dealers so you can compare your options.
Best Intro Offer
- Up to $25,000 in bonus coins and 10 years of IRA storage fees waived
- Guarantees the lowest purchase prices with a buyback program
- Free shipping in as little as 24 hours with insurance
- 5-star reviews from thousands of customers
- Live 24/7 tracking and interactive charts
- Over 100 years of combined experience in the precious metals industry
- Endorsed by Brian Kilmeade and Lars Larson
Best Satisfaction Guarantee
- Over $1 Billion of precious metals delivered with thousands of satisfied customers
- 100% satisfaction guarantee with a 7-day full refund
- Lowest price guarantee & no buyback fees
- Up-to-the-minute pricing on metals
- Metals shipped in nondescript packaging for privacy
- Endorsed by Bill O’Reilly
Best for Long-Term IRAs
- Most IRA’s qualify for “No Fee For Life” IRA Incentive
- Minimum Investment Size: $50,000
- Rated Excellent on Trustpilot with over 400 reviews
- Bullion, IRS-eligible, and collector coins available
- BBB Diamond Rated Company
- Endorsed by Dick Morris
- Most IRA’s qualify for “No Fee For Life” IRA Incentive
- Minimum Investment Size: $50,000
- Rated Excellent on Trustpilot with over 400 reviews
- Bullion, IRS-eligible, and collector coins available
- BBB Diamond Rated Company
- Endorsed by Dick Morris
Our team of editors have spent hundreds of hours researching the best gold companies.
Best Intro Offer: Anthem Gold Group
Best Intro Offer
- Up to $25,000 in bonus coins and 10 years of IRA storage fees waived
- Guarantees the lowest purchase prices with a buyback program
- Free shipping in as little as 24 hours with insurance
- 5-star reviews from thousands of customers
- Live 24/7 tracking and interactive charts
- Over 100 years of combined experience in the precious metals industry
- Endorsed by Brian Kilmeade and Lars Larson
Benefits Of Investing In Precious Metals
Here’s a list of benefits when investing in precious metals.
✔️ Tangible asset
Gold bullion and other precious metals are physical assets whose value is not tied to any country’s currency. This means the metal’s value is universally recognized and can be liquidated.
✔️ Inflation hedge
Gold typically holds its value and sometimes increases during times of high inflation.
✔️ Diversification
Diversification is a risk management strategy that mixes various investments within a portfolio. Precious metals, like gold, can reduce a portfolio’s overall risk because their value tends to move inversely to paper assets.
✔️ Limited supply
The finite supply of precious metals, such as gold and platinum, adds to their value. Unlike fiat money, which can be printed in unlimited quantities, natural availability and mining production rates constrain the supply of precious metals.
What To Know About Investing In Precious Metals
Investing in precious metals differs from buying a stock through a brokerage account, a gold IRA, or a CD at your local bank. That is especially true if you are buying physical metals. There are four types of commonly held metals:
- Gold
- Silver
- Platinum
- Palladium
Many people use these metals as a hedge against inflation, and they have traditionally held their value in times when the stock market has faltered.
Since 2000, gold and silver have seen greater returns than the Dow Jones and S&P 500.
However, there are different costs and considerations involved in these purchases, and you should be sure you understand those before investing. Here’s what to know.
1. Precious metals are best as a long-term investment
While the value of precious metals has historically increased in the long term, their value can be volatile in the short term. That means this isn’t the type of investment you purchase in the hopes of quick gains.
Instead, you should buy precious metals because they may provide a hedge against inflation and a safety net during economic and political unrest.
2. Precious metals are subject to capital gains tax
Like other investments, precious metals are subject to capital gains tax. However, you only pay this tax when you sell your precious metals, and it is only assessed on the gains—that is, the growth in value—of your investment.
3. Precious metals shouldn’t be your entire portfolio
A diverse set of investments is key to weathering financial storms since each asset class may respond differently under various economic conditions. For this reason, most finance professionals advise against keeping all your money in any particular asset.
4. Precious metals have unique risks and costs compared to other investments
Since physical metals are tangible assets, they have special considerations. Chief among those is how to store the metals. If you keep them at home, you’ll likely need to add insurance coverage to protect them. You could also store your precious metals in a depository, but annual fees will apply.
Buying Metals From A Dealer
Buying from a dealer is the most straightforward way of investing in precious metals. It’s best for those who want to own physical assets.
How it works: If you purchase precious metals as a personal investment, the process is similar to any other retail transaction. Dealers often have their inventory listed online. You select and pay for the items you’d like, which are shipped to you.
However, most dealers don’t list prices online, and you should expect to speak to a representative on the phone to complete the transaction.
What to know: Precious metals pricing constantly changes, and each dealer will have their own markup, fee structure, and shipping costs. For this reason, compare prices from several dealers before making a purchase.
Remember that fees may be assessed based on the value of your purchase.
The gold companies below can help you open an account and protect your precious metals.
Types Of Precious Metals
Gold
Gold bullion is physical gold that is intended as an investment. Its value comes from the weight of its gold content, and bullion must be at least 99.5% pure.
Gold dealers may sell bars weighing anywhere from one gram to 500 grams, although various sizes are available.
Silver
Silver should be 99.9% pure to be considered investment grade. Some coins—such as older Morgan silver and Peace dollars—have a lower silver content and are considered collectibles.
Their value may come more from their rarity than their silver content, meaning they may not be the best choice for those looking to invest in silver.
Platinum
Platinum is a precious metal with automotive and industrial uses that can be made into jewelry and prized by investors.
Only platinum that is 99.95% pure is eligible to be held in a precious metals IRA. Bars, rounds, and coins must be produced by an accredited or certified manufacturer or a national government mint.
Palladium
Palladium is widely used in the automotive industry for catalytic converters, as well as in electronics, dentistry, and jewelry. Only palladium that is 99.95% pure is eligible to be held in a precious metals IRA.
FAQ
How can you buy physical precious metals?
Physical metal is sold in the following forms:
- Coins
- Bars
- Rounds
Rounds and coins have a similar appearance but shouldn’t be confused. Bullion coins are made by national mints and may be considered legal tender. Some rounds may have designs that look similar to coins, but they’re manufactured by private mints and are not marked with a face value. Other rounds may only have mint and purity markings on them.
Is it better to buy coins or bars?
Whether you should buy coins or bars mostly depends on your investment goals. Coins can have numismatic value, meaning they might be worth more than their weight due to rarity, condition, or age. On the other hand, bars can offer a lower price per ounce, making them a more cost-effective way to build a significant holding.
Are you ready to buy precious metals?
We recommend starting with our top pick, Anthem Gold Group:
- A free 2024 investor guide
- Free gold and silver up to $25,000 on a qualified purchase
- 100% Free IRA Rollover
Best Intro Offer
- Up to $25,000 in bonus coins and 10 years of IRA storage fees waived
- Guarantees the lowest purchase prices with a buyback program
- Free shipping in as little as 24 hours with insurance
- 5-star reviews from thousands of customers
- Live 24/7 tracking and interactive charts
- Over 100 years of combined experience in the precious metals industry
- Endorsed by Brian Kilmeade and Lars Larson