There’s been a lot of chatter about companies like Goldline and Cash4Gold ripping customers off by charging (and offering) outrageous prices for Gold. As it stands today, Gold is trading for around $1,250 an ounce, making it a very rare commodity for traders and investors. Silver on the other hand is trading at exactly $20 an ounce, meaning folks like you and me can buy and invest in larger quantities. If you’ve been in the market for a place to buy Gold and Silver and haven’t had any luck, you might want to check out APMEX, the American Precious Metals Exchange.
While Gold and Silver are the most common of precious metals to buy, APMEX also allows consumers to purchase Platinum and Palladium, close to their current values. All totaled, four precious metals can be purchased in small or large quantities from APMEX for prices that would make Goldline blush.
Signing up for an APMEX account is free and only takes a few minutes and a few common pieces of personal information (like name, address, email address, etc.). The benefit of having an account even if you’re not looking to purchase anything right now is their weekly newsletter, which includes promo codes that will discount your purchases even more than they already are.
So let’s talk about price. With silver sitting at $20 an ounce, you can find US minted coins, made out of .999% silver, selling for between $21 and $22 a piece. Each coin is weighted at one ounce meaning that you’re paying about a 5% premium to own silver. The more coins you buy, the cheaper each coin will cost but we’re only talking pennies on the dollar here, so the premium paid is still around 5%. In addition to the cost of the coin, you will be charged a small shipping and handling fee (based on the weight of your order) so don’t think you can actually make quick money by buying silver in bulk.
Similarly, the price on Gold is $1,250 an ounce and using APMEX, you’ll have access to one ounce gold coins for between $1,300 and $1,400. Again, you can discount the amount of one coin by buying in bulk but with Gold, that’s considerably more difficult to do.
Once purchased, the coins or bricks will be delivered to your door in around 3 business days, in the condition you expect. Unlike Goldline or Cash4Gold, you’ll find APMEX to have a customer satisfaction rating that exceeds 98%, as it’s the most respected and well known enterprise to purchase precious metals. And even if you find yourself more attracted to currency instead of coins, you can buy un-circulated $500 and $1,000 bills!
Reasons for buying gold and silver can range from gift giving to sound investing but no matter why you’ve decided to purchase precious metals, you’ll want to do so from The American Precious Metals Exchange. If you’ve already done so, we’d love to hear your experiences so other consumers can be well informed.