In the global commodity markets, gold is bought and sold at a spot price. It’s simply the real-time per ounce price of gold. Whether you buy gold from a local dealer, online or invest in an gold IRA account, you can expect to pay more than the spot price. After all, dealers have to make their money somehow.
The ask price of a gold dealer will include their premium. On average, you can expect to pay up to 3.5 percent over spot price per ounce of gold.
For gold coins, however, you can expect to pay up to 6 percent over spot value. Since government mints charge higher fees than the private refiners who produce gold bars, gold and silver coins have higher premiums. Their designs and smaller size also make them more expensive to produce.
That being said, gold coins are more liquid than gold bars and typically fetch higher prices. Therefore, if you’re interested in being able to sell part of your holdings on a whim, gold coins may be worth the higher fee.
Nonetheless, gold bars provide the most bang for the buck, so they’re often the preferred way to go when making a large investment.
Benefits of Buying Gold Online
- Convenience – Whether you’re searching for ties or gold coins, shopping online is much faster and convenient than shopping in person at a brick and mortar store. With a few quick and easy clicks of a button, you can purchase ounces upon ounces of the purest gold in Dubai and arrange for its delivery or storage in one of the safest vaults in the world!
- Privacy – Another crucial benefit of investing in gold online is the absolute privacy involved. You’re able to enjoy complete anonymity. When making a large gold purchase at a dealer,it is immediately known that you may be storing gold in your home, which could potentially make you a target. Online purchases are much more private. Retailers place a large emphasis on protecting the privacy of their clients, so you can rest assured your personal information and transactions will be encrypted and totally secure. Local gold or coin shops may not use the same discretion when it comes to their record keeping, which could potentially put your personal information and financial security in jeopardy.
- Volume Pricing – Online retailers provide competitive pricing. Since they deal in bulk, they’re able to offer their clients lower premiums on each ounce of gold they sell. Plus, the more you buy, the lower your premiums will be. This type of wholesale volume pricing can make a big difference in your final purchase price. Some online dealers even allow you to access the same trading platforms as pension funds, hedge funds, and millionaire brokerage clients placing orders at an institutional level. Buying gold from a dealer utilizing one of these networks will allow you to take advantage of the combined buying power of financial titans and receive a better price on gold.
- Taxation – Depending on the country you live in, you may have to pay a hefty sales tax when purchasing gold from a local dealer. This can range anywhere from 3% to 10% and make a serious impact on your purchasing power and bottom line. Purchasing high-quality gold from Dubai online allows you to avoid state sales tax, which can be quite hefty when making a large investment.
- Research – When you purchase precious metals from an online dealer, you’re able to perform in-depth research in minutes while you shop. As you can see by now, there are a variety of factors to consider before buying. It would be nearly impossible to perform the necessary research when buying from a local gold dealer. Shopping online gives you the ability to carefully research each product and then make your final decision. You can also take advantage of third-party review sites to learn the pros and cons of different online gold dealers.
- Variety – You’re able to choose from a variety of gold products. It can be purchased in an array of gold bullion, bars, and coins. In the case of gold coins, they can be purchased from dozens of countries and coined in any number of years. Some coins are higher in purity than others and have different circulations. When shopping online, you’re able to choose the right coins at the best possible price for your portfolio. Meanwhile, gold bars are available in a wide-variety of weights and sizes. Unlike physicals stores with limited inventory to choose from, your investment options are nearly endless with an online retailer. Regal Assets is a trusted online gold retailer with endless investment options to choose from. Click here to browse their premium gold products today!
- Dollar-Cost Averaging – Dollar-cost averaging is a great technique for anyone new to gold investing. Rather than making a large investment all at once, you can buy smaller amount over a longer period of time and average your position. Some dealers even have systems in place to automate the process. By taking this approach and averaging your position, there’s no need to ever worry about the current spot price of gold.
- Pressure Free Buying – when buying offline, local dealers and salesman often use high-pressure sales tactics, trying to push the sale on you. When under pressure, you tend to make weaker decisions. When purchasing gold online you have a lot of time available to find the perfect product at the perfect price.
Buy Gold Online – Pricing
When buying gold bullion online, make sure you are getting the best possible prices. To do so, check the spot prices and pay no more than an average of 4% above spot price when purchasing from a online dealer. Reputable dealers will openly disclose every fee related to your gold purchase. If a dealer has an above average markup, keep shopping. If it’s low and looks too good to be true, it’s more than likely a scam. Dishonest gold dealers often advertise the precious metal as low as one percent above spot simply to lure clients in and pitch them higher priced collectible coins with huge markups. You should ONLY trust reputable online dealers like Regal Assets.
Where to buy gold online?
Under our strict set of criteria, we can only give 2 companies our stamp of approval for purchasing gold online. These two are:
1. Regal Assets
The first company that we recommend is Regal Assets. They have their offices located in North America and Dubai. That gives you the option to buy gold from a reputable company, that has been featured in Forbes, ranked the #20 financial firm by INC. 500 and has exactly 0 negative reviews.
With their Dubai office, you have the benefit of purchasing from a reputable online gold dealer and have your gold stored in the prestigious Almas Towers in one of the most secured vaults on the planet.
2. Bullion Vault
The second online gold dealer we can give our stamp of approval is BullionVault.com. They offer VERY competitive pricing and multiple storage options all around the world.