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How to Buy Gold and Silver at Spot Price

Gold and Silver shoppers all want to know: How can I buy Gold or Silver at the spot price? It’s a thrilling prospect, but frankly, it’s unlikely to happen. Except in some unusual circumstances, Gold and Silver simply cannot be purchased at spot price. Retailers need to attach premiums and the dealer also has a spread between buy price and sell price. It is the cost of doing business.

Buying Precious Metals Close to Spot Price

However, there is no shame in being a smart shopper and trying to buy your Precious Metals products for as close to the spot price as possible. How can you buy close to spot price? Allow us to suggest some ways for you to maximize your investment dollar and to buy Gold and Silver as near to spot price as you can:

  • First, decide what Precious Metal products interest you: Bullion bars and rounds tend to have lower premiums, while coins can command wildly different premiums depending on the specific piece. A certified, mint-condition rare coin, for example, is likely have significant numismatic value and therefore a huge premium over spot. Do your research, and if saving on premiums is important to you, aim for the appropriate bars and rounds.
  • Know what the current spot price is: The live Gold spot price and Silver spot price may be found easily on many, many websites. APMEX has a particularly good interactive Price Chart. Watch the price and time purchases to your advantage. Know where Gold and Silver are trading before you buy.
  • Shop with reputable online Precious Metals dealers: Shopping for Gold or Silver online as simple and fun as any other online shopping. Make sure you choose to deal with a respected company like APMEX and remember to comparison shop.
  • Know what fees may be attached to your purchase: This is an important detail that buyers tend to forget. What additional costs are you incurring with your Precious Metal purchase? Many dealers charge for shipping, and you pay for insurance on the shipping. There may even be a fee for using a credit card. Make sure you understand all charges you are about to pay, as these must be factored into the total purchase price of your Gold or Silver. Only when you know the exact possible total can you compare bullion items side by side.
  • Deal in volume, if possible: Many dealers offer significant per-ounce discounts when a client buys in bulk. For example, on a product page, you may see a graph showing something in the vein of: Quantity 1-9=$XXXX each. Quantity 10-25= $XXX each. Quantity 26+=$XX each. Just like paper towels or cans of soup, when you buy in bulk you may pay a lower per-unit price.
  • Look for dealer specials or sales: Retailers sometimes want to roll over excess inventory with a great sale. These special deals might provide the perfect opportunity to buy Gold or Silver for the absolute lowest premium over spot. Consider checking out APMEX’s Deals page when you’re hoping to score a great value.
  • Condition/Value: Products that have been circulated and show wear typically don’t garner the same premiums as products that are in pristine condition. You might consider sacrificing condition to own something interesting or with a great metal content.

Read Before You Buy

Knowledge is power, so do a bit of reading and shopping before purchasing or selling Gold or Silver. We at APMEX believe that an educated customer will be empowered in their choices and happier with their products. Please allow us to help you get the most for your investment dollar.

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