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Online dealers or coin stores?

Posted March 18th, 2010.

        Now the question poses itself, is it better to buy gold coins from an online store or a company in your city? There are several factors that play into this question. First you need to examine where you live and what you are looking for in a dealer. We will briefly discuss the pros and cons of buying and selling in both venues.

        “Brick and mortar” shops have their own value. The problem with buying or selling gold coins here, is that it may be very difficult locating one near you. The prices are usually steeper here, because they have a limited market and need to make enough money to be able to stay in business. If you can find one relatively close to you then feel free to stop by. You can actually see the coins before you make the purchase which is an entirely different experience. Another benefit is that you may actually meet other coin collectors. These collectors may have coins you are looking for while you have coins they seek. You can also pick your coins up as soon as you pay which is always nice.

        There are issues that can result of shopping online. This might include, but are not limited to; not ever getting the product you purchased, buying into a scam of counterfeit coins and many more. The benefit however, if you do a little research to find out the legitimacy of the company you can get online make the purchase and never leave the comfort of your home. They other drawback is there is no human contact involved here, but the prices of the coins you purchase will be cheaper.

        If you are looking to sell gold coins you may find that many of the web based companies will purchase your coins without many objections. The reason for this is because they can reach a wider market with a single sales pitch. This can be beneficial they will most likely pay more for you then a “brick and mortar” shop.

        If there is a “brick and mortar” shop near you then you may want to stop in and get a better understanding of the market. On the flipside you will save more money in both gas and actual prices when you shop online.

Posted in Investing |


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