Homepage / Bullion Dealer Practices: Online Dealers
Last Updated on 10/26/2024
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Learn the business practices of Online Bullion Dealers
before you deal with one.
The more you know about a business, the better off you are when you purchase from them. This page was created to help you know what to be aware of before, during, and after you buy from a online bullion dealer.
The Topics discussed on this page include:Free Shipping on Orders Over $199
Free Shipping on Orders Over $199
BBB - Customer Reviews
Free Shipping on Orders Over $199
Free Shipping on Orders Over $199
Free Ground Shipping on Orders Over $100 (Canada & US).
RCM - Customer Reviews
The Royal Mint - Delivery Rates ($)
Online Bullion Dealers use the spot price of a precious metal as a starting point for pricing bullion.
You want to know what this price is before you shop.
Dealers add a charge above the spot price of bullion to help them pay for overhead.
Dealers also add premiums to bullion prices, but the market governs the amount of the premium, not the dealer.
Whether it is a bullion coin, round, or bar, premiums can vary by the bullion product; in general, the age, condition, and rarity of the item will all play into the premium above the spot price.
Graded bullion and collector coins typically command the greatest premiums; for more information on how premiums for graded coins are determined, read our Graded Bullion Buying Guide.
When purchasing bullion online, you can select from various payment methods, which vary among bullion dealers. Dealers typically accept two or more of the following forms during the ordering process or checkout.
- Online service that provides Credit and Personal Account Services
Debit / Credit Card
Check /Money Order / Cashier's Check
Wire Transfers
Wire Transfers are a method of transferring money electronically from one person or institution to another. Visit our Wire Transfer page for a comprehensive guide on the process of making a wire transfer.
In addition, you can also visit Western Union's website to learn more about Bank Wires.
Reminder: Financial Emails
It is not advisable to click on links from a financial institution's email unless you have recently contacted the institution or its representatives. Computer hackers often create sophisticated emails using financial logos to trick users into clicking on their links to steal financial information. To avoid hacking, it's advisable to bypass emailed links and directly log into your financial account with the institution to address the issue.
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Many online bullion dealers offer deals on free shipping, many deals involve the customer ordering a certain amount to receive free shipping.
The most common deal found on many online bullion dealer's websites is "Free Shipping on orders over $199.
All online dealers have an area at or near the bottom of each page on their website that provides links to individual policy pages, this is where you find a link lead to their shipping policies in detail.
The following are standard practices that a person can expect from an online bullion dealer after an order has been placed.
Lastly, there is no doubt that you've seen one of the logos below, there is also very little doubt that a reputable bullion dealer will use one, two or all of those package delivery companies.
It is when you see a delivery company's name that you don't recognize that you should search on the web who that shipper is and look into how good or bad their services are before you let them ship your order.
Copper bullion is becoming more numerous on bullion dealer's websites, thing about copper that not everyone knows is that copper is priced in pounds (lbs.) under the the Avoirdupois (pronounced: a-vo-du-pwa) system of weight, and not in Troy Ounces like the other precious metals.
This spot price (right) reflects copper's price per pound (lb.).
Copper is considered more of an Industrial Metal than a precious metal, and it is more abundantly found in the earth than other precious metals.
One other thing to keep in mind about copper is that it rarely trades above $5.00 a pound (lbs.), as seen here.
This section is for those who've never ordered from a bullion dealer.
If you're new to this industry and you're not sure of what you want or like, the best thing to do is to make a small purchase or several small purchases of different types of bullion from several different bullion dealers to decide which ones you like and which ones you don't.
How you set your maximum is entirely up to you, you may simply want to make it the equivalent of a few ounces of silver, or a good rule of thumb is to keep the amount under the equivalent of 10 ounces of silver or less.
In addition, keeping your personal maximum at this low number will show you how the dealer treats all their customers, in regards to how much they spend.
Everyone expects good service when they are handing over a lot of money, but dealers who recognize the value of every customer will understand that everyone should receive the best service no matter how much they spend.
When you know what bullion dealer you want to buy from and what you want to buy, you may want to consider budgeting your investment dollars.
You may want to split your investment money; meaning don't put all your eggs in one basket, at one time.
Let's say, for instance; You want to buy some silver bullion.
And let's go back in time to late April of 2011, when the price of silver was getting near its top of $49.00.
Do you want to get in at that price? Or Do you want to see if the price will dip to a lower level?
You hear the pundits saying the price is going higher. But this is your money; it is up to you when you want to start buying; not them.
Continuing with the scenario, you want to get in the market, or you're already are in the market, and you want to accumulate more precious metals.
But, you look at the chart and the price has gone straight up over the last few weeks, and the charts are looking like the price should correct itself sometime in the near future.
So you only invest a half, a quarter or less of your money, or you stay out of the market completely and wait to see what the price will do.
Then you watch the markets and read the News on the homepage of the Free Bullion Investment Guide.
Depending on what the silver price does, you make your decision from there and either continue to hold, sell or buy.
Many investors can get caught up in the hype when a market is going through the roof. It's hard for any investor to decide when is the right time, or price, to buy and sell.
The lesson from the silver market of April 2011, is that if the price has moved more than 20% in a short period, there's a good chance a correction is around the corner.
Ultimately, it's your choice for when you get into any market, but you may not know your comfort zone.
You make the choices of how and why you are investing in the market and when is the right time to get in or out.
Budgeting your for an Investment is always the Wisest thing to do.
Each buying guide offers you an in-depth discussion about each type of bullion.
At the bottom of each page, you'll find a list of reputable bullion dealers who offer that type of bullion along with links to their Better Business Bureau ratings and other customer review pages.
Topics Included In this Guide are:
Topics Included In this Guide are:
Topics Included In this Guide are:
Topics Included In this Guide are:
Topics Included In this Guide are:
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