The internet has made it possible for people to order precious metals online. This might make some people nervous, which is why physical gold dealers are still in business. However, does it really make sense to shop locally when you can shop and take delivery of your gold from the comfort of your home?
It is understandable that people would still want to deal with a physical gold dealers, it has its own advantages. For instance, you get what you pay for immediately. You also know who the person selling the gold to you is and where you need to go if you experience some kind of problem. However, on the other side of this, physical gold dealers have to charge a higher premium because they have overhead costs, they have to pay for storage and insurance. To cover those costs, they have to pass it onto their prices. Online dealers are able to offer low prices because they over volume or wholesale based pricing. Other advantages of online dealers include:
Brick-and-mortar shops are restrictive in that you have to go out of your way to get to them. You can go online and do business without leaving your home. Online gold dealers offer the convenience of being open 24 hours.
#2. Shopping Experience
Shopping online is also a more pleasant experience. You don’t have to deal with impatient sales associates or pushy dealers who will pressure you into making decisions you weren’t ready for. You can take time to browse and make informed choices.
Online gold dealers offer a wider selection of products. They are restricted by space because they don’t run their business in the very same spot they store their gold.
Local gold dealers need to develop a limited product selection based on their small base of regular customers. They cannot afford to carry products they may never sell.
#4. Variety of Payment Methods
Online dealers offer customers a variety of payment options. These methods may include credit and debit cards, bank wire transfers, checks and PayPal. Brick and mortar shops are mostly equipped to handle cash, which can pose a problem if you want to make a large investment. Most local shops cannot accept cash because of the risk of fraud.
The major disadvantage of buying gold bullion online is how long it takes to take possession of your gold. You also need to consider the shipping cost and the insurance for your gold. There are a number of reputable online dealers that offer free shipping or free insurance to ensure that your gold arrives safely.
Most well-respected gold dealers sell quality, authentic gold that typically comes directly from the source. Compare this to online dealers who may include products they have bought from other customers and you may see why this practice is virtually guaranteed by online bullion dealers.
When buying gold for the first time you can consider getting hints and tips from a website such as here.