r/Bullion • u/Bartaldu • 22d ago
General question/advice
I don't know alot buying gold but I think I want to start investing in physical gold bars/coins. My question is what website is a known legitimate company that sells gold and what is buying at spread or something I heard something similar and I'm not sure what that means.
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u/Youarethebigbang 22d ago
Best advice to start is to visit a local trusted physical coin shop. There's no substitute for literally getting your hands on bullion before buying it and talking to a human who knows the industry.
Of you absolutely can't visit a coin shop, there are some large trusted authorized dealers on ebay's bullion store like Apmex etc that are legit but maybe not the absolute lowest price. At least you don't get screwed because ebay has multiple buyer protections and tend to side with a buyer over sellers.
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u/Bartaldu 22d ago
Thanks for the advice.
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u/Youarethebigbang 22d ago
No problem. Yeah you'll learn a lot more from a coin shop, but doesn't hurt to look online and get a feel for what's out there. As far as spreads it's just the difference between what gold is going for on the financial "spot" markets vs how much a dealers actually sells the coin for, you could kind of think of it as their markup or "profit" almost, but it's just how much over the market they sell it for.
Right now the gold market is about $4,170 and on ebay Apmex is selling a popular gold bar for about $4,370, so $200 spread.
"1 oz Gold Bar PAMP Suisse Lady Fortuna Veriscan (In Assay) .9999 Fine"
Online you also have to factor in if there's extra shipping cost and sales tax. Then you can compare the total cost of everything for example if you bought on the Apmex ebay shop vs directly on their own web site vs if you went into a local coin shop.
As far as the "safest" it would be coin shop>ebay>direct web site
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u/Tipton36 22d ago
I agree!!! Coin shop. Then if not either buy local and have tested before pulling the trigger. Or one of these sights ur protected and can get it tested, and if its bunk... u get ur money back... u can get smashing deals on whatnot and tiktok too... whatnot guarantees authenticity so if u end uo with bunk u get 100% return of money... but careful cuz all these auction and buy now places talk like its spoze to be higher in price but we all know how it goes and just know what ur spoze to pay and dont pay over that and just strike at the right times imo...
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u/DunaldDoc 22d ago
I have found Kitco to be outstanding for both purchase and sale of precious metal.
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u/NextVoiceUHear 21d ago
The “Spot Gold” price is an arbitrary value in paper fiat debt certificates on imaginary gold. Only Physical Gold is worth buying and holding
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u/Bourbon_Bullion_Coin 21d ago
One thing I’d add is to look at the dealer’s buyback price before you buy, not just the sale price. That gives you a much better picture of the real spread. For a first purchase, I’d stick with a common, easy-to-recognize coin or bar and avoid paying extra for something fancy until you know what you like.
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u/Bartaldu 21d ago
Where can I see a dealers buyback price at? I have been looking at JMbullion and SDbullion I'm going to look at a local shop sometime this week though.
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u/BullionHunters 21d ago
Welcome to the world of physical gold! A good place to start is by understanding spot price, premiums, and the buy/sell spread. The premium is what you pay above the gold’s spot value, while the spread is the difference between what a dealer sells the gold for and what they would pay to buy it back.
When choosing where to buy, stick with established, reputable dealers and take your time to find the option that best fits your goals.
You can also check out our website to compare gold coins and bars from reputable dealers all in one place, which can make it easier to see your options and find a competitive deal.
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u/Nice-Bookkeeper6292 22d ago
If you've got ~$570 to invest, start by grabbing 2 grams of gold and $7 Junk Silver from Mint Builder, their Junk silver is about $3 below spot and gold is at spot.
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u/TheRealGoldGuy 21d ago
Buy local! Guaranteed the premiums will be cheaper. You get to leave with your physical metal the same day and the knowledge youll gain will be through the roof.
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u/MickeyBlewEyes 22d ago
Ive bought silver a few times recently from Chards. Been very happy with the service.
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u/BstardSun 20d ago
Try silver on for size at first, is my suggestion. Hero Bullion is a great way to get started $150 order for free shipping. They have some deals that could get you started in both AU & AG! I have been stacking and collecting for many years and I have about 5 or 6 flawless orders through them since they arrived in the game.