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Wednesday, December 14, 2005

Should you buy gold online?

If asked, should you buy gold online the answer is that it is quite safe to buy gold and gold coins online and there are many places one can do so provided one follows a few rules.

Obviously one should be sensible about it and ensure that one is dealing with a reputable dealer as well as understanding what you are buying. Is it the right type of gold for you? Is it the right price for you?

Here are a few guidelines that can help you to buy gold on the internet.

First ensure that you know exactly what you want in terms of gold. Is it gold coins? If so, which ones do you want? Sovereigns, Eagles, Krugerrands or others? Or are you looking for gold bullion? What size or weight?

Next, work out how much you can spend on a particular transaction. This should be an amount you can afford. It is nice to browse but easy to overspend. Especially when purchasing gold! Be aware that there may be shipping and insurance costs to add to the total payable.

You should ensure you purchase from a reputable dealer. Most dealers on the internet are reputable but there are a very few who would not be considered reputable.

If you find a dealer that has:
  • No contact details other than a generic email, such as hot mail, or contact page.
  • No security for credit card payments. In other works the lock does not appear in your browser when going to the payments page and the http does not change to https.
  • No information about delivery.
  • Poor looking and/or unprofessional site.
It is advisable not to buy from that dealer no matter how enticing the products appear to be.

Generally, you can safely purchase gold coins or gold bullion from internet dealers. Usually the larger dealers will also have shops or outlets so you know they have a location and are here for the duration and not just for the night!

Always thoroughly check the web site. Study the products and prices. Read the terms of service (so few people do) and make sure you understand what you are buying and from whom. Ensure you know how much the total cost is, including such costs as shipping and insurance, and you should be right!

Gold and gold coins are a great buy online!



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