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Record Prices and Gold Bar Premiums: A Look at the Impact for Investors

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Costco Gold Bullion on Display in a Warehouse Location

The price of gold surged this week past a record-breaking $2,720 per troy ounce, fueling widespread interest in the precious metal as a hedge against economic uncertainty.

The current surge shows no signs of slowing down, with many analysts predicting further increases into next year.

The London Bullion Market Association (LBMA) gold forecast suggests the price could reach as high as $2,941 per troy ounce within 12 months. While Goldman Sachs has issued a more bullish outlook, expecting gold to rise to $3,000 by early 2025.

Global rate cuts, central bank gold purchases, and geopolitical tensions support upward momentum.

Technical analysts point out that gold may be overbought and temporary pullbacks are likely. Yet, the long-term outlook remains strong.

Gold Bar Premiums

Premiums tend to rise along with gold prices. However, some investment-grade gold bar premiums have decreased slightly recently.

Lower 20 Gram Gold Bar Premium
Low Premium Fractional Gold Bars

Costco’s foray into the gold market has changed the game for investors and forced other dealers to adjust their pricing strategies.

As the spot gold price hits all-time highs, investors can now buy gold bars at slightly reduced premiums.

For those hesitant to enter the market at these price levels, fractional gold bars in various gram weights provide a more favorable entry point.

Why Fractional Gold Gram Bars Are an Attractive Alternative

While lower premiums on gold bars are an unexpected development, with prices exceeding $2,700, not all investors can afford a full ounce of gold.

Fractional gold gram bars are a more affordable entry into the gold market. In addition to the 20 gram size, they are also available in 10 grams, 5 grams, or 1 gram.

Fractional gold bars provide a lower-cost option for investors without needing large sums of money upfront.

Although fractional bars have higher premiums per ounce, they allow investors to build their gold holdings incrementally.

Because they are smaller, they offer greater liquidity and can be quickly sold when needed.

Fractional gold bars offer an affordable and flexible option for investors looking a more cheaper alternatives to full 1 oz bars.

With analysts predicting further gold price increases, now may be an opportune time to consider adding gold to your portfolio.

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1 oz Gold Bar at Spot Price

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Interest in precious metals continues to spread far and wide as the turmoil in the economy begins to take hold. New investors often have a lot of uncertainty when first learning about precious metals and dealer premiums can raise questions for some.

Many new investors discovered precious metals through spot price deals that were once promoted by numerous dealers prior to the start of the pandemic. Those offers allowed precious metals buyers the chance to buy silver with no dealer markup.

Mining shutdowns, supply chain issue and strong investor demand for silver put an temporary end to those offers until recently.

SD Bullion was the first online bullion dealer to return with a silver at spot price deal earlier this year. New investors can buy one 5 oz silver bar at spot price.

JM Bullion has recently returned with a special offer for those interested in gold.

The Gold Starter Kit from JM Bullion is now available and offers new investors the opportunity to buy a 1 oz gold bar at spot price.

Gold is long considered one of the best investment options when looking for a long term store of value to be a hedge against inflation.

Owning physical gold and silver are one of the few asset options that has no counter-party risk.

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Where is the best place to buy silver?

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There are a lot of online bullion dealers. With so many online dealers how do you decide which bullion dealer is the best company to buy from?

It doesn’t matter if you’re an investor looking for the lowest price investment, or if you’re a collector wanting to find the best prices on silver coins to add to your collection. Investors and collectors both are always searching to find the best prices on silver from online bullion dealers.

Finding which online bullion dealers have the best prices for silver will depend on which bullion items you’re looking to buy and when you’re looking to buy.

FindBullionPrices.com is the best website for tracking the prices and premiums of a large variety of gold, silver and platinum coins, bars, rounds and bullion items for sale by online bullion dealers.

All of the online bullion dealers will carry a core set of gold, silver and platinum bullion products. All will have some sort of selection of:

  • Gold, silver and platinum Sovereign government coins such as American Eagles, Canadian Maple Leafs, etc…
  • A large variety of silver rounds from popular private mints
  • Silver bars, gold bars and platinum bars
  • Hand poured items from specialty mints
  • Circulated “Junk” Silver.
  • and much, much more

With so many trusted and reputable online bullion dealers offering such similar products how do you decide which company is the best to buy from? There are several factors to consider, including customer service, shipping charges, sales tax and of course most importantly, the lowest premiums over spot price for what you want to buy.

There are several trusted and reputable online bullion dealers that stand out from all the others.

Some of the best companies to buy silver from include Silver Gold Bull, Golden Eagle Coin, Bullion Exchanges, BGASC, JM Bullion and others.

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How to get the Best Silver Prices

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Many beginning and seasoned veteran precious metals investors ask the question: How Can I Get the Best Silver Prices?

For many, browsing numerous websites of online dealers and comparing the prices of similar products is way they’ve been doing it for years.

Take for example the price of 2019 American Silver Eagle coins. The typical premium over spot price can vary from $3 to over $5 per coin. With the spot price of silver hovering around $15 per troy ounce, the markup is 20-30%.

When you compare that to generic 10 oz Silver Bars, the premium that dealers charge over spot price ranges from around 70 cents to $2.00 per troy ounce. The dealer premium over spot price range for 10 oz Silver Bars is much lower, only around 4.5% to 13%.

Investing in silver, gold and other precious metals is typically seen as a long term investment or hedge against inflation. While the price of silver and gold is likely to rise over time the premium that you pay when you buy is difficult to recapture down the road when it becomes time to sell.

Sovereign coins, such as Silver Eagles and Canadian Silver Maple Leafs, that are government backed, often retain some of their premium on the secondary market. Even though the price of silver can swing dramatically over the course of a year, waiting until you’ve recaptured the premium you paid over spot price can feel like an eternity.

Finding the lowest premium over spot price is the single most important factor that investors use in making purchasing decisions. FindBullionPrices.com compares the dealer premiums across all of the major online bullion dealers in a single place.

We pull prices from bullion dealer websites’ 24 hours a day, seven days a week to provide investors with the information they need to make purchase decisions at the time they are ready to buy silver.

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Compare Premiums to Determine Which Silver Dealer Has the Best Price

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shipping silver bullion

When you buy silver and gold bullion from online dealers the pricing displayed on their websites can be confusing. It can sometimes be hard to tell if you’re getting a good deal or not.

All bullion dealers, whether online or a local coins shop, price their bullion relative to the spot price of the precious metals. The price the dealer charges over spot price is called the dealer premium.

The only way to know whether or not you’re getting the best price when you buy precious metals online is to compare the dealer premiums over spot price.

Comparing dealer premiums for a particular item, whether it’s the latest American Silver Eagle coins, 10 oz silver bars, or Pre-1933 gold coins, can be a tedious and time consuming job. Looking for the same item across multiple dealer websites takes time.

FindBullionPrices.com provides tools to help simplify the process for buying silver and gold bullion from online dealers. We pull the latest prices from many trusted and reputable bullion dealer websites for over 300 unique products.

Each product listing is designed to make it easier to decide which dealer has the best deal when you buy bullion online. The product listings display the current spot price, including the melt value for each item. The current price the dealer is selling an item for is displayed, along with the calculated dealer premium over the melt value.

For each product we try to show as many dealers as possible that are selling a particular gold or silver coin. Dealer inventories can change quickly so we may not always show every dealer that is selling a particular item, though we try to do the best we can.

Shipping Charges and the Myth of Free Shipping

Many online bullion dealers offer free shipping when you place an order over a certain dollar amount. For a lot of bullion dealers, the free shipping threshold is that orders over $99 ship for free. The cost of the shipping is generally included in the dealer premiums.

Several online bullion dealers offer free shipping for all orders regardless of the dollar value of the order. These dealers typically have much higher premiums per item to cover the shipping costs.

Still, there are other dealers that are more transparent in their pricing and cost structure. They may not offer free shipping at all, or have a higher minimum order dollar value threshold for offer free shipping.

As silver and gold bullion are commodities, market conditions dictate the price trend which affects the price you pay. As with any business, each dealer has different levels of overhead, operating costs and desired profit margins.

Some online bullion dealers prefer high volume with lower margins while others may charge a heavy premium, especially when purchasing lower quantities or lower order values.

The top trusted and reputable online bullion dealers willing to compete on both service and price, who are interested in establishing long-term stacker customers that will continue to buy from them on an ongoing basis, are the dealers will to compete on price and provide the best customer service.

Payment Methods and Types

Our dealer listings section has a page that shows the payment methods accepted by dealer accepts and displays information regarding the shipping policies, minimum order value thresholds for free shipping and more.

Virtually all online bullion dealers accept credit cards, checks and wire transfers for payment. Dealers that accept credit cards and PayPal as payment methods typically incur a fee for each transaction. The fee that credit card companies and PayPal charges the dealer are typically 3% to 4% of the dollar value of the order. These fees are included in the cost.

Online bullion dealers often display on their product pages two or three different prices. Dealers will usually display the Cash Price and the Credit Card/PayPal price, and some dealers may display a third category that have begun accepting BitCoin and other cryptocurrencies for payment.

Paying the Cash Price for Silver & Gold Bullion

The lowest price is the Cash Price. The Cash Price when you buy gold or silver from an online dealer represents the equivalent to walking into the store and paying cash. This is obviously not possible when making an online transaction, so this price also often represents the price if you were to mail a check to the dealer, use an e-check option or perform a wire transfer.

Some  credit card companies and payment processors have requirements that forbid merchants from charging a fee for accepting credit cards as a payment method. Online bullion dealers get around this by offering the items for sale at a Credit Card/PayPal price that is typically 3% to 4% higher than the Cash Price. While the Cash Price is often referred to as a discounted price for using Cash, Check, e-Check or wire transfer as a payment method.

 

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2019 American Eagle Coins Beginning to Ship from Mint

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The U.S. Mint will begin shipping 2019 American Eagle Silver and Gold Coins to their list of Authorized Purchasers (wholesalers) this week.

Retail online bullion dealers are anticipated to begin shipping pre-orders for 2019 American Silver Eagle and American Gold Eagle coins beginning on Monday January 14, 2019.

With the 2018 American Eagle coins selling far less than hoped for, dealers are hoping that a slowing U.S. economy and rising interest rates will spur more investment in precious metals during 2019.

Premiums on individual Silver Eagle and Gold Eagle coins vary greatly amongst online bullion dealers.

Our product listings for 2019 Gold Eagle Coins and Silver Eagle Coins track prices across various trusted and reputable online bullion.

500 oz Silver Eagle Monster Boxes remain competitively priced for both 2019 release coins and remaining 2018 Silver Eagle coin inventory.

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Why do online bullion dealers have different prices for cash or credit cards?

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It can be confusing for first time investors looking to buy silver rounds online. Whether looking for silver bars, silver rounds, or government minted products like American Silver Eagles on Canadian Silver Maple Leafs, the pricing that online bullion dealers show is confusing.

Silver and gold bullion prices are based on “spot price”. Spot price is the price per ounce that the precious metals are trading at on the COMEX commodities exchange.

Online bullion dealers and many local coin stores will base their pricing on spot price. Spot price is the per ounce value of the silver or gold bullion.

Dealers then add a premium on top of the spot price. One way to think of the premium is that it includes the cost of selling, marketing and other operating costs for the dealer plus their profit margin.

Why do online bullion dealers charge different prices for different payment methods?

The cost of accepting different payment methods have differing costs. Generally speaking, payment methods like PayPal and Credit Cards cost merchants and online bullion dealers as much as 4% of the total cost of each transaction.

Cryptocurrency payment methods, which include services like Bitpay, allow dealers to accept Bitcoin, Litecoin, Ethereum and other cryto payment methods also charge merchants on a per transaction basis.

This can be confusing to first time precious metal buyers. Online bullion dealers pass the fees along to the buyer. This is standard practice throughout the industry and you will see these different prices reflected when you browse online bullion dealer websites.

The Cheapest way to Buy Silver Rounds Online

Many beginning precious metals investors look to buy silver rounds online. Silver rounds are popular because of their size, simple denomination, shape and the value they represent.

Generic Silver rounds also can be found with some of the lowest dealer premiums over spot price which makes them attractive to many investors, preppers and silver stackers.

The cheapest way to buy silver rounds from most online bullion dealers is to pay via check or money order. This may seem a bit backwards because most people have become accustom to paying for online purchases with credit cards.

When you buy silver rounds online with a check or money order you must mail the payment to the dealer. This can take up to a week for the dealer to receive the payment. Another week for the payment to clear. Then another week for the dealer to finalize the processing of the order and send out your purchase. It can take upwards of three weeks to month from the time you order until you receive your bullion purchase.

Many dealers have begun offering an e-check payment method which speeds up the process some. Paying for silver rounds with an e-check is basically an ACH transfer between your bank and the bullion dealer’s bank.

Paying with e-check eliminates the mailing time and some of the processing time associated with buying silver rounds with a check.

The Fastest way to Buy Silver Rounds Online

Most people who buy silver rounds online want to receive their purchase as quickly as possible. In order to receive your online bullion purchases quickly it means that you’ll need to pay with a payment method that incurs some additional cost. That means paying for your silver rounds with PayPal or Credit Card.

Paying for silver rounds online with PayPal or Credit Cards clears your payment the fastest. Payments are usually processed by the dealers within 24 hours. That means that your silver rounds are usually shipped by the dealer within a day of receiving your order and payment. Often your order will ship out the same or the next day after you place your order.

Benefits of Using a Credit Card to Buy Silver Rounds Online

While paying with PayPal or credit cards does incur an additional fee it does have several benefits.

Credit card and PayPal payments allow your bullion purchase to ship quickly so you will receive it faster than if you pay by check or money order.

Both credit card and PayPal payments also provide you, the buyer, with some security when you buy silver rounds online. PayPal and most credit cards provide a buyer protection guarantee that gives assurance that even if something happens your purchase is protected. Though, buying from a trusted and reputable dealer will also provide assurance. Reputable online bullion dealers aren’t going to risk their reputation on ripping off customers or bad customer service.

Reducing the Premiums You Pay When You Buy Silver Rounds Online

Another reason to use a credit card to buy silver rounds online is that you can earn cash back rewards, airline miles or other loyalty program points. Many credit card companies offer a card that can provide up to 2% cash back on purchases. This cash back reward helps to offset the credit card premium that you pay when you buy silver rounds online.

It is also possible to offset the premium cost when you buy silver rounds online by leveraging other cash back rewards programs. Programs such as eBay Bucks allow you to earn cash back rewards on eBay purchases that can then be used to buy silver rounds.

The normal cash back reward for eBay Bucks is 1% on the purchase price of items bought from listings in eligible categories. The Bullion category is excluded from earning the cash back reward from eBay Bucks, however, many reputable dealers will create alternate listings in other categories which allow you to earn the rewards when you buy silver rounds.

Several times per year eBay runs promotions where they increase the cash back earning of the eBay Bucks program. The promotional bonuses have historically been as high as 15%. Though it is far more common to see promotions of 8% to 10%. That cash back reward from eBay Bucks can offset your investment or be used in the future for additional silver bullion purchases.

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How to buy silver below spot price

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When you click on links to various merchants on this site and make a purchase, this can result in this site earning a small commission. More information about our affiliate programs can be found here.

Savvy precious metals investors are always on the hunt for a great deal when looking to buy silver bullion. Finding a way to buy silver below spot price is a great way to lower the dollar cost average of your precious metals investment.

One way some silver buyers have found to buy silver below spot price is to utilize the eBay Bucks cash back rewards program, combined with a credit card that pays a percentage of each transaction as a cash back reward.

eBay Bucks is eBay’s loyalty rewards program that provides a base cash back reward of 1% on eligible purchases. The reward is credited to your eBay account at the beginning of each financial quarter based on your purchases in the previous quarter. The maximum amount of rewards that can be earned each quarter is $500, or up to $2,000 a year.

Several times per quarter eBay will run Bucks bonus promotions intended to boost sales. In the past the promotions have ranged from 6% to up to 15% bonus on top of the base reward.

eBay Bucks can only be earned on eligible purchases. Normally, items in the silver and gold bullion categories are not eligible. However, some dealers are aware of this and to encourage sales will often list items in alternative categories or list products that are eligible for earning cash back rewards on bullion purchases.

Buying bullion on eBay

All of the major and reputable online bullion dealers sell through an eBay store in addition to their own websites. They will often have the same products listed on eBay that they sell on their own websites but with different pricing. Some of the time the prices are cheaper than on their website, sometimes prices are more expensive.

While it may seem illogical, the reasons are pretty straightforward. eBay charges sellers pretty high fees for both listing items for sale as well as to complete the transaction. Plus, paying with PayPal adds additional fees and costs to the dealers. For these reasons the prices dealers charge on eBay may seem higher than the base prices listed on their websites.

Other times, the prices for items sold through eBay will be lower. This is because eBay provides rebates and incentives to bullion dealers that reduces or eliminates fees on certain products.

Many people avoid buying silver and gold bullion on eBay because they are worried about counterfeit or fake items. That is a valid concern but there are some basic safe guards that you can use to easily identify and avoid buying fake bullion.

eBay Bucks on Bullion

Buying bullion on eBay, especially when eBay Bucks promotions are active is the best way to buy silver below spot price depending on how you look at things.
eBay Bucks is a cash back rebate incentive program that is run by eBay. After you’ve signed up for eBay Bucks, all eligible purchases you make will earn eBay Bucks at the rate of 1% of the final auction price or the Buy It Now! price. eBay Bucks are earned throughout each financial quarter and are available for you to spend during the next financial quarter.

Historically, throughout each quarter eBay has run numerous promotions where they will increase the eBay Bucks earnings to as much as 15% on eligible purchases.

There are at least two ways to look at things when you decide to buy silver or gold bullion on eBay when Bucks promotions are running.

One way to look at how you can leverage eBay Bucks for bullion purchases is to look at the bonus as a discount off the auction price or Buy It Now! price.

For example, A dealer may list a 5 troy ounce Sunshine Mint silver bar in a non-bullion category with a Buy It Now! price of $100. When factoring in the earned eBay Bucks when a promotion may be running, this could reduce the net price of that 5 oz silver bar to $85.

Buy Silver Below Spot with eBay Bucks

Another way to look at how you can leverage eBay Bucks with bullion is to maximize the amount of earnings you can per quarter and use those earnings to then buy bullion at a reduced cost during the next quarter.

For example, historically, Pre-1933 US Gold Bullion coins such as the St-Gaudens Double Eagle have been available for close to gold spot price. Some people will buy with the knowledge that they already a local buyer that they can sell the coin to for a small profit. By using a cash back credit card for the purchase and paying off the credit card with the money from the local sale of the coin.

For a coin that may cost $1250 this would earn as much as $100 eBay Bucks (the maximum amount per transaction), plus the cash back from using the credit card ($25 for a 2% rewards card), for a total earned cash back of $125. eBay allows the earning of up to $500 in eBay Bucks per quarter. Churning St-Gaudens Double Eagle coins could earn up to $625 in cash back rewards when combining eBay Bucks and credit card rewards per quarter.

The earned cash back could then be used for purchasing silver or gold bullion for essentially no net cost. By utilizing the cash back rewards for silver purchases it’s possible to get the silver for free, or use the cash back rewards as a way to offset other silver purchases to reduce your overall dollar cost average.

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A good time to buy 2018 Silver Eagles

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2018 American 1 oz Silver Eagle

With the silver spot price at a steady low price it is one of the best times to buy silver eagle coins. Dealer premiums on 2018 Silver Eagle coins have also been at all time lows.

Premiums when you buy silver rounds can be found from many online bullion dealers for pennies over spot price. Some precious metals investors, especially those that are new to buying silver, may see the higher premium on Silver Eagles and be confused about the price.

The US Mint charges wholesalers and dealers a $2.00 premium on each newly minted Silver Eagle bullion coin. This automatically raises the price of silver eagles over generic bullion. There is continuous demand for Silver Eagles.

The American Silver Eagle is one of the most widely recognized investment grade bullion products worldwide. Because of it’s popularity silver eagles are easy coins to liquidate from your investment portfolio when you decide it is time to sell. There are situation based on market conditions where it is possible to recapture much of the premium.

Where to buy 2018 Silver Eagle Coins online

There are many trusted and reputable bullion dealers where you can buy silver eagle coins online. The three main things to look at when you buy silver eagles online is the dealer premium over spot price, any additional shipping charges and whether the dealer charges a fee based on payment method.

Online bullion dealers will often be the best place to buy silver eagle coins. When you buy silver eagles online it is important to factor in all of the costs when choosing from which dealer to order. Just because one dealer may advertise the lowest price per coin does not mean it will be the best deal.

Dealer Premium on 2018 Silver Eagle coins

The dealer premium should include the amount that the US Mint charges in addition to the dealer markup. The dealer markup is there to cover the dealer’s operating costs and profit margin.

Some dealer’s will advertise an “all-in” or “out-the-door” price that includes all fees, markups and shipping charges. While others may advertise their lowest base price per silver coin and then add additional fees and markups once you start the checkout process.

2018 American Silver Eagle shipping charges

There are some online bullion dealers that offer free shipping on orders that are over a specific dollar amount. The cost of shipping from these dealers will almost certainly be included in the dealer markup which can add to the confusion about pricing.

Shipping and handling charges will vary from dealer to dealer. For example, SD Bullion advertises the lowest priced 2018 Silver Eagles online with their premium, including the markup from the US Mint at around $2.59 per coin in quantities under 20 coins over silver spot price. If you buy a mint tube of 20 coins the premium is reduced by 5 cents per coin to $2.54.

Paying for 2018 Silver Eagles with a credit card or cash

The lowest advertised price that dealer’s show on their website is often the price per coin if paying with cash, check or bank wire. Other payment methods such as credit card or bitcoin will carry an additional fee.

The payment method fee that each dealer charges will vary. For credit card purchases, most online bullion dealers charge at least a 4% fee. The fee is intended to cover the cost required to accept credit card payments online. While this is a common charge when you buy silver bullion online, some dealers don’t always make the additional fee transparent.

The All-In costs to buy 2018 Silver Eagles online

When factoring in that the US Mint charges a $2.00 per coin premium to dealers, it would seem that SD Bullion is selling 2018 Silver Eagles for just 54 cents over cost.

However, SD Bullion also charges a shipping fee of $7.77 on orders less than $2,500 plus a 4.2% surcharge if paying with a credit card instead of sending a check or sending a wire transfer.

So if the spot price of silver is trading around $16.50 per ounce, the base price to buy a tube of 20 2018 Silver Eagles from SD Bullion would be $380.80. The 4.2% credit card surcharge adds an additional $16 to the order, plus $7.77 shipping. The $23.77 of additional charges brings the ‘out-the-door’ or ‘all-in’ price to $404.57, which is $20.23 per coin. That’s $1.73 premium per coin over cost compared to the advertised 54 cents per coin over spot shown on their website!

Online bullion dealer pricing can be very misleading.

Comparing 2018 American Silver Eagle Prices

When you compare 2018 Silver Eagle Prices from online bullion dealers it is important to look at the total cost, including shipping charges and other fees. Just because a dealer advertises the lowest price on 2018 Silver Eagles does not mean that the price you pay will be the best price available.

Using a site like FindBullionPrices.com helps find the best prices on 2018 Silver Eagles by pulling prices from over 30 reputable and trusted online bullion dealers. Our site shows the price the dealer would charge if you were intending to buy a single coin at their cash or wire transfer price.

Before you choose the online bullion dealer to buy Silver Eagles it is important to consider all of the additional charges and fees that may be associated with your investment.

These additional charges will increase the cost per coin and will increase the overall price per ounce that you have invested in silver. This may or may not be a factor when dollar cost averaging your precious metals investment.

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Buying silver online, How to choose bullion dealers

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silver rounds

Some frequent questions new precious metals investors ask are :

  • Which online bullion dealer is the best?
  • Which online bullion dealer has the best prices?
  • Which online bullion dealers are reputable?
  • Does anyone have experience ordering from XYZ dealer?

Choosing which online bullion dealers to order from can be confusing for those just getting started in precious metals.  It’s important to trust the online bullion dealers that you buy from because there have been a lot of well publicized scams and there are lots of counterfeit products floating around out there.

How do you choose which bullion dealer to buy from?

There are a variety of factors to consider when choosing which online bullion dealers to buy from. All of the major, reputable online bullion dealers carry many of the same products. Oftentimes, the pricing on what is the exact same product vary greatly from dealer to dealer.

Reputation and Trustworthiness

The best way is to conduct thorough online research to identify well-known bullion dealers. Look for established dealers with a solid reputation in the industry. You can research customer reviews, ratings, and testimonials on trusted review websites like TrustPilot, the Better Business Bureau and FindBullionPrices.com. There are also many existing threads on online forums and social media platforms like /r/SilverBugs and others on Reddit.

Pay attention to feedback regarding reliability, order processing times, shipping times, customer service, and overall customer satisfaction. Verify that the dealer accepts your chosen payment method. Many will have minimum order amounts for wire transfers and some other payment methods. Crytpo payments are an option for some dealers as well, making it easy to exchange digital tokens for physical metals.

Consider dealers with a history of transparent and ethical business practices.

Customer Service

How dealers handle issues that arise is one of the biggest differentiators in how to choose which bullion dealers are best for you. Some questions to ask yourself when evaluating

  • Does the dealer have a track record of handling complaints and responding quickly to even minor inquiries?
  • Does the dealer have open inquiries with the Better Business Bureau?
  • What’s the dealer’s TrustPilot rating?

Product Selection

Online bullion dealers will carry a wider product selection than your local coin store. The product selection offered by online dealers will always include a wider selection of sovereign government bullion coins from numerous countries in addition to a large volume of generic silver bars and rounds in many sizes and weights.

Once you’ve identified a reputable dealer, browse their online inventory to explore the silver products available. Look for different types of silver, such as coins, bars, or rounds, and consider factors like weight, purity, and design to find the products that best suit your preferences and investment goals.

Pricing and Dealer Premium

Pricing and dealer premium are important factors to considered when choosing which online bullion dealers to buy from. When you buy silver and gold bullion, you are likely buying it as an investment or as a way of storing wealth or saving money for the future.

No matter what reasons you have that lead you to buy silver bullion, price will almost always be a top factor. The amount you pay above the current spot price when you buy silver is called the “dealer premium”. This is the markup that the dealer charges that will cover the dealer’s overhead costs, the dealer profit and in cases of free shipping, the shipping charges. The dealers that offer free shipping with a low minimum order typically have higher per piece premiums which can be of particular to note when making bulk purchases.

You always want to pay the lowest possible premium over spot price when you buy silver. In most cases, the spot price will have to rise higher than the price that you paid, including the dealer premium in order to profit from your investment.

Prices on precious metals are relatively stable and rise and fall slowly over time. It can take months or years before the spot price rises to an amount above what you paid in order to turn a profit on your investment, if that is one of your goals. The lower the dealer premium on the items that you buy the faster your investment becomes profitable.

Some items, such as American Silver Eagle coins will always cost more than silver spot price. One reason for this is because the US Mint charges wholesalers and dealers a premium over spot price in order to cover the cost of production and distribution. That premium gets baked into the cost is always past along to investors.

The US Mint has been experiencing ongoing production problems that began during the pandemic with supply chain shutdowns. In recent months, it’s been reported that the procurement of raw planchets continues to be an issue for the mint. The mint has been unable to keep up with the demand from investors, which has resulted in higher wholesale premiums and market prices.

Part of this premium can be recovered when selling Silver Eagles as dealers tend to pay above spot price. But you can’t always count on that.

Buying Silver Online

One of those deals is from Money Metals Exchange. They have a silver starter kit that comes with both a random year American Silver Eagle and a random year Canadian Silver Maple Leaf. The kits also comes with a one Troy ounce generic silver round, plus a half ounce fractional round and five 1/10th ounce fractional rounds. Together this starter kit comes with 4 Troy ounces of silver, including the two premium government bullion coins. Money Metals Exchange ships the starter kit for free.

The Money Metals Exchange silver starter kit price does fluctuate with the silver spot price.

This silver starter kit includes high premium government minted silver bullion, and 6 fractional silver rounds. With free shipping included it’s hard to pass up this offer at such a great price.

There are only a handful of wholesale bullion dealers in the country, most of the online bullion dealers are buying from the same sources. For the most part, they are also paying the same prices. Some of the larger dealers may get volume discounts, those may be offered as discounts to their customers.

Placing an Order with an Online Bullion Dealer

Once you’ve selected the dealer and the silver products you wish to purchase, add them to your cart. Most dealers will lock in the spot price that is used to calculate the order total for a few minutes while you continue browsing.

When you’re ready to check out, review your order in the cart to ensure accuracy and check the total cost. Verify the spot price, the lock-in time remaining, any applicable state sales taxes and shipping fees. Proceed to the checkout page and provide the required information, such as your shipping address and payment details.

Follow the instructions provided to complete the purchase. Verify all the details before finalizing the transaction. Some dealers may require additional steps, such as identity verification for larger purchases, as part of their compliance with anti-money laundering regulations.

After completing the purchase, you’ll receive an order confirmation screen followed by an email that will contain the order details. The dealer will then process your order and prepare it for shipment. Depending on the dealer and your location, shipping times may vary. Most dealers will provide you with notification of when your order ships and a tracking number may be provided.

Once your silver order arrives, carefully inspect the package for any signs of damage or tampering. Ensure that the contents match your order. If you have any concerns, contact the dealer immediately.

Sales Tax Varies by State

The reasons for states charging sales tax on bullion can vary. Some states have chosen to exempt bullion purchases from sales tax as a way to promote precious metals investing and attract bullion buyers. The specific sales tax policies on bullion vary from state to state, so it is advisable to consult the tax laws of your specific jurisdiction or seek professional advice regarding tax implications for bullion purchases.