If you are looking for ways to diversify your investment portfolio, buying gold can be a great option.
Its value is recognized internationally, it doesn’t deteriorate or tarnish over time, and above all, it’s a safer mode of investment than all its alternatives.
This is because the inherent value of real gold is not very closely tied to the economic policies or actions of the government. In simple words, it’s a stable form of investment that you can actually rely on.
In the following article, we present a roundup of the 5 best online gold dealers for buying and selling real gold. We provide an in-depth view of the pros, cons, and the overall services that each dealer offers.
So, read on to find out what is the best place to buy gold chains, coins, bars, bullets, and more.
Best Online Gold Dealers – Reviews & Buying guide for 2020
Best Overall: Money Metals Exchange
Established in 2010, Money Metals Exchange is a dominant industry player.
In fact, it is one of the most reputable online gold dealers and for all the right reasons too. Its rapid growth and strong market position can be attributed to its founder, Stefan Gleason.
Given his background working for a financial newsletter company, Stefan understands what investors really look for in a gold and silver savings plan. The platform, therefore, offers a range of lucrative deals that instantly click with investors of all ages and portfolio sizes.
On the site, you will find an incredibly diverse yet well organized inventory. It includes not only gold bullion, bullets, bars, and coins, but also those made of silver, platinum, palladium, rhodium, and even copper.
Money Metals makes things exceptionally easy for those new to the field. If you are investing for the first time, there are different types of starter kits and pre-made portfolios that you can choose from.
It’s a convenient solution that saves you a lot of hard-thinking and messing up your budget in an attempt to bundle bullion together.
What’s makes Money Metals so popular among gold investors is that it offers storage services too. You can have your stock delivered at your doorstep. Or you can choose to store it directly with them instead.
The second option will save you shipping costs. Plus, your bullion will be held safely, which eliminates the risk of losing your assets in a robbery at home.
Moreover, the prices at Money Metals are significantly lower than other bullion dealers. You can start with a few hundred dollars or invest thousands as you prefer.
- Security: SSL-encryption certified by DigiCert.
- Fees: Varies according to the value of your holding.
- Shipping Costs: Free on purchases worth $1,000 or above. Otherwise, the cost may vary by order value.
- Has some of the best gold coins to buy out there
- Offers multiple payment options including cryptocurrency
- Live pricing – Spot prices of all metals are featured on the website and updated in real time
- Depository services – Investors can have their orders stored in a secure Money Metal’s stock building. The facility uses UL Class 3 vaults.
- Insurance – Investment accounts at Money Metal’s are fully insured by Lloyds of London insurance policy.
- Premade portfolios – Bullion packages including gold, silver and other metals.
- Extra fees – The dealer charges an additional transaction fee of 4% if you pay via Paypal account or a credit card.
- Shipment costs – Free shipping only applies to orders above $1,000
- Resource center – The site has a dedicated news section where you can access historical as well as live data to track metal prices.
- Customized alerts – Customers can set personalized alerts to get notified about the latest prices on time.
Money Metals Exchange has a solid reputation among novice and experienced investors alike.
It’s a reliable platform where you can buy and even sell a wide variety of precious metals. Collectors consider it the best place to buy gold online because it offers bullion at or near the spot price of the metal.
While they have an overall great customer service, keep in mind that their representatives are not available on weekends. This is the only major complaint that their clients have.
It is unlikely that you won’t find your desired bullion or a suitable gold savings plan at Money Metals. Nonetheless, in the rare case that it does happen, BGASC is the next best place to consider.
Short for Buy Gold And Silver Coins, BGASC, is a trusted site among both gold and silver investors. It’s fast, reliable, and offers you a wonderful opportunity to increase the value of your hard-earned money even further.
Buying gold at BGASC is amazingly simple. Everything is displayed neatly with high-definition, real-life pictures so that customers know exactly what they are paying for. Once you find something to your liking, all you need to do is add it to your cart.
You will be prompted to select the payment method. The dealer lets you pay through your credit/ debit card, PayPal, paper checks, or direct bank transfer. Click on your preferred options and that’s it! You now own real gold!
It’s the best place to buy gold and silver online because the dealer stocks a large selection of coins, bars, and rounds. In addition to silver and gold, you will also find PCGS and NGC Graded Numismatic Coins.
- Security: High-level
- Fees: Not mentioned on site
- Shipping Costs: Free shipping on orders above $5,000
- Wide selection of silver and gold bullion
- Competitive prices help you invest as per your investment goals
- It is a 100% secure way to trade gold and silver online
- Orders can be placed on website or via phone
- Fast shipping
- All orders are fully insured while in transit
- Outstanding customer service
- Ships only within the US (does not ship to Minnesota)
- Dedicated market tools and news section
- Get price alerts
- Real-time price charts
- 3-day return policy
BGASC provides the best way to invest in gold and silver for those who want to quickly get their hands on their purchase. There is no minimum limit for investment and your order will be shipped the very next day of payment confirmation.
In fact, it stands out among all other online gold brokers due to its unmatched shipping services. Since high-value items demand extra care, BGASC ensures they are properly wrapped in protective packaging and sealed before shipment.
Plus, there is complete coverage for any damage that might still be done during transit. Their return policy also makes it a safe place for bullion transactions as customers can demand a refund in case they change their minds.
Safety is one of the biggest concerns for people considering to sell or purchase gold and silver online. However, you can leave all such worries out the door when you choose to invest with BullionVault.
Co-owned by Augmentum Fintech PLC. and GBIT, BullionVault is said to be the world’s largest online gold brokerage. The company boasts a customer base of 90,000 clients from across 175 countries.
It trades more than $100 million worth of gold and silver every month, dealing in all volumes of investment from as little as a hundred dollars to hundreds of thousands of dollars and everything else in between.
As per their website, BullionVault holds an excess of $3 billion in physical gold and silver reserves.
Simply put, it is a safe platform where you can trade the two most precious metals without any risk of fraudulence.
- Security: High-level
- Fees: No fees charged for opening account and depositing funds
- Shipping Costs: Not applicable
- Low rates for buying and selling – Charges less than 0.5% when buying or selling gold, silver, or platinum.
- One-day withdrawals – You can sell anytime and get the processed funds within one business day.
- All bullion bought at BullionVault can be traded on global professional markets.
- Deals in only allocated bullion
- Does not ship the assets.
- Managing your account at BullionVault can be somewhat challenging as their online trading system is quite hard to navigate.
- Storage option – Has high-security vaults in multiple locations around the world. You can store your bullion in the vault of your choice.
- Deal in all major currencies – You can purchase assets in US Dollars, Pounds Sterling, Euros, and even Japanese Yen.
BullionVault offers a simple, safe, and cost-effective way to trade silver, gold, and platinum. It’s different from all the other online gold dealers on this list because it operates as a transaction-only entity. In other words, you cannot hold the physical assets at any time.
The bullion is stored under a bailment agreement in their specified vaults.
While this method deprives you of the pleasure of holding the assets in your own hands, it works well for many investors.
This is because it saves them the cost of buying allocated storage at their local banks. As you might know, bank storage facilities tend to be quite pricey and can eat away at your profits.
ALTERNATIVE: SD Bullion
SD Bullion, launched by the Silver Doctors network in 2012, is a well-established and top-rated online gold broker. It is popular among gold and silver buyers due to its remarkable customer service, direct storage options, and hassle-free shipping.
SD Bullion started as a means of educating the general population on the value of hard assets. In less than a decade, it has grown into a global trading platform serving thousands of clients in 28 different countries.
Here, you can invest in a variety of precious metal bullion. The company sells gold, silver, platinum, copper, and palladium coins, bars, and rounds. Accessories, such as storage boxes, cleaners, and coin magnifiers are also available for buyers who wish to keep their assets in prime condition.
- Security: SSL-encryption verified by DigiCert
- Fees: 5% if paying via Paypal or credit card; 3% for all other modes of payment
- Shipping Costs: Free shipping on local orders over $99
- Offers a variety of bullion at highly competitive prices
- User-friendly site – Making a purchase is quick and easy
- Multiple ways to pay for your order – Includes Bitcoins, paper and electronic checks, credit and debit cards, PayPal, and direct bank transfer
- Does not charge any commission or extra service fees
- Offers international delivery services
- Packages are insured for their full value during shipping
- Process sensitive payment data using SSL-encryption
- You will have to compensate the market loss if you wish to return your purchase
- Helps you stay up to date with live precious metal spot prices
- Customers can open a depository storage which is free for the first three months
SD Bullion is not one of the best places to buy gold coins without reason. Till date, it has executed an excess of $1 billion in sales.
The company has been featured twice in Inc. Magazine’s list of top 500 fastest growing companies, which attests to their reliable and trustworthy services.
It does not place any limitation on the minimum order, which means amateur investors can get started for whatever amount they want. However, remember that a flat shipping rate of $7.77 applies to all orders under $99. Orders above $99 ship free.
For customers with just a handful of money looking to invest in gold and silver, GMRgold is the ultimate one-stop brokerage. With deals starting from less than $25, this trading platform definitely beats all other online gold brokers in terms of pricing.
At GMRgold, you can easily find and purchase gold coins, bullets, bars, and rounds. The site also offers some of the rarest products including American Gold Eagles, Gold Buffalos, Chinese Panda, and Australian Kangaroo.
The GMRgold team carefully inspects each item that it sells. Therefore, buyers have can rest easy knowing that they will only be paying for authentic items that have real value in the market.
- Security: 100% secure
- Fees: Not specified
- Shipping Cost: Free shipping on orders above $75
- Deals in physical gold coin and bars
- Offers Numismatic coins
- Lowest cutoff for free delivery compared to all other online gold dealers featured on this list
- The company is not BBB accredited
- Many customers complain of delayed delivery
- Displays real-time market prices of all the precious metals so buyers can make an informed decision
- Offers free appraisals of portfolios within 2 days
- Best place to sell gold coins as they provide you with estimate quotes after a no-obligation consultation
GMRgold makes it really convenient to invest in gold coins with their budget-friendly deals. Since its inception, the team has been working hard to ensure that their inventory is always stocked with rare and high valued metal assets.
Note that GMRgold is not accredited by the Better Business Bureau (BBB), which raises some questions about its legitimacy.
However, in addition to the website, the company also accepts orders over the phone. If in doubt, you can always call them directly to verify things before placing an order.
Online Gold Brokers FAQ
What Is A Gold Broker?
A gold broker is any entity that allows investors and collectors to buy and sell gold. Initially, gold broker referred to a person who worked from a physical office and served clients mostly in their local community.
However, the advent of the internet and advancements in technology led to the rise of online gold dealers.
Today’s gold brokers are not just limited to their regional circles. They serve an international clientele and generally deal in a variety of different valuable commodities, such as silver, diamonds, and the likes.
Note that many people get confused between gold brokers vs. gold dealers. This is because of the different ways these tradespersons might work.
A broker generally sets up deals between the buyers and sellers, That is, they act as a middleman to negotiate transactions and as such, do not retain any claim on their client’s property. They do, however, charge a service fee for enabling the sale and purchase of the commodity.
On the other hand, a dealer typically only sells the items that they specialize in, although sometimes, they might also purchase with the intention to resell.
With that said, it’s important to remember that in the case of gold and similar precious metals, the terms are often used interchangeably.
This is because many online gold dealers today offer a range of services, which include purchase, storage, and brokerage as well.
Who Is the Most Reputable Gold Dealer?
Given how easier gold trading has become, it’s no wonder why the market is populated with dealers operating from all corners of the world.
However, not all gold dealers are worth your while, and more importantly, money. The best gold dealers don’t have to advertise themselves. They let their track record speak for itself.
In other words, when searching for the best place to buy gold, don’t focus on which site displays the title of ‘the most reputable dealer’ at the head in bold. Instead, check out their customer reviews, list of services, inventory size, and accomplishments.
The most reputable gold dealer will have built trust in fair prices and honest trade practices coupled with an impeccable customer service and diverse inventory.
Gold dealers like Money Metals, BGASC, SD Bullion, and others that we have reviewed above are some of the best online gold dealers because their positive customer reviews speak on their behalf.
What Is the Safest Way to Buy Gold?
It’s not old-school to think that your local jeweler or gold coin shop is still the safest way to buy gold. Buying or selling gold at a brick and mortar store takes all the guesswork out of the equation.
When you buy in-person, you take delivery of the asset immediately. Buying online, on the other hand, can involve certain risks. For instance, you can get tricked into paying more than the actual cost of the gold or get swindled by a non-delivery.
While thousands of people around the world successfully trade millions of dollars online in physical gold every day, it always requires extensive research and thorough analysis on the investors’ part.
Is Buying Gold Online Safe?
Buying gold online is generally safe as long as you purchase from trusted dealers. If you are new to the investment game, the wise decision would be to start small. Don’t buy anything that comes with a hefty price tag.
Instead, purchase only a couple of gold coins initially to familiarize yourself with this mode of investment. This will also give you an idea of the dealer’s services and responsiveness.
When you feel like you have gotten the hang of it, you can scale up your order to generate more wealth.
Remember, it’s not just about who you buy from. It’s also about what you buy and how much you buy. People buying from the best online gold dealers can still suffer a loss if they don’t know how hard asset investing really works.
Should I Buy Gold or Gold Stocks?
Gold stocks might seem similar to physical gold, but they are actually very different. A gold stock, also referred to as paper gold, essentially works like regular stocks.
Whether your investment will compound depends merely on your luck. Since you don’t get to own any real gold, there’s a higher risk of monetary loss if the company mining gold on your behalf is faced with any kind of trouble.
Physical gold, on the other hand, is a more stable investment. Since you own it directly, it will always hold its intrinsic value regardless of the position of the stock market.
In fact, gold prices usually increase when there’s an economic downturn. However, the drawback of investing in hard gold is that you can’t just store it in a locker at home. You must place it in an IRA-certified account that’s monitored by a custodian.
People who prefer investing in gold stocks rather than physical gold mainly do so because stocks are more easily liquidated than hard gold. Plus, you can hold the stock in your portfolio without being involved in IRS regulations.
Hard asset investment in gold, silver, and other precious metals has become really popular these days.
At a time where the future of the global economy is extremely uncertain, and the fear of recession looms constantly over every country, owning good for financial stability is a great option.
We hope that with all the aforementioned information on the best online gold dealers, you found a place to trade yours safely.