Can I buy gold and silver bullion at the spot price?

One of the most common questions that new precious metal investors have has to do with buying gold and silver at or below spot price. The “spot price” is the dollar marker that represents the cost of one ounce of gold or silver when purchasing one million ounces or more at any one time. These prices are constantly seen in newspapers, on television and on web sites (even this one), but is it possible to buy gold and silver bullion at spot price?

Only members of global commodities exchanges (i.e. New York Mercantile Exchange (NYMEX), London Bullion Market Association (LBMA)can legitimately trade precious metals at spot prices on a regular basis. Sure, eBay might have a bullion bar at spot on occasion, and many local dealers will offer one ounce at spot for first-time buyers, but serious investors should seek out a professional discount dealer of gold and silver.

Fair prices for gold bullion are 2-7 percent over spot depending on the type of bar or coin. Discount dealers usually sell silver bullion for $1-$4 over spot per ounce depending on the type of bar or coin. Investment-grade rare gold and silver coins cost a little more due to their profit potential as well as the historic legislation that protects such coins from government confiscation.

Investors who would like help finding a local or nationwide gold and silver dealer should contact Gold Silver for our free Gold and Silver Investing Guide. Our non-commissioned representatives are available from 10am-7pm Monday through Friday at 1-800-394-3337 to answer all of your questions about gold and silver bullion.

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