6 Factors to Check Before Buying Gold Bullion Online
December 21, 2021
When considering investing in precious metals, buying gold bullion can be a good starting point. Australia is home to more than 65 gold mines, making it rank second in the world’s largest gold producer’s list.
Since gold can be a relatively stable investment, whether, for personal or professional finances, many people are beginning to prefer investing in bullion coins.
Whether you’re specifically looking for Perth mint gold bullion coins or any other gold coins, you can find a variety of websites offering what you require. However, you shouldn’t just be spending your money on any service. Here are a few factors you should go through before buying gold bullion online:
Authenticity of Website
Online businesses that sell and buy precious metals in Australia need to be licensed to do so. Not just any company can establish themselves and start selling gold whenever they want.
When you’re considering buying gold bullion from a website that seems to offer unbelievable rates and has good deals, you might want to check the website’s authenticity first. Ensure that the website has a legitimate headquarters based in Australia and is sanctioned to deal with precious metals.
Gold Purity
You might be able to find many options for buying gold bullion coins or any other type of gold online. However, be aware that there are businesses that aren’t entirely involved in fair trade and there are possibilities that products that aren’t entirely pure.
If you’re looking to purchase gold or other precious metals online, you should verify their purity beforehand. Businesses can verify the purity of the metals by providing a guarantee with the product or through hallmark certification. You should ensure that you’re getting pure precious metal products and nothing else when spending the money on them.
Payment Methods
Not all websites accept all kinds of payments, which is especially true when you’re planning to buy precious metals online. You can find acceptable payment methods on the website or go through the FAQs section. The most commonly accepted payment methods are:
- Direct Deposit and Bank Transfer
- Telegraphic Transfer
- RTGS
- Cash deposited at physical headquarters or bank
If your preferred payment method isn’t accepted at the business, you can also reach out to the Customer Help team and ask them whether alternative options are available.
Additional Charges
The prices listed on websites are often not the total amount you are expected to pay when you decide to buy gold or silver. It can be the original price of the precious metal without factoring in taxes or possession charges.
Before checking out, you should constantly be on the lookout for these charges and know what they are. Investment-grade bullion is exempt from GST in Australia, but you should see if the website you’re buying from is charging you for it regardless.
Delivery
Depending on your reason for buying gold bullion coins, you might need them delivered to your address. Many websites offer safe and secure delivery of their products. You will be required to provide appropriate identification when accepting the delivery.
Many businesses also provide the option of collecting the product from their physical location. If you live close to the company in Australia, you can simply head over to pick up your order and even pay for it.
Storage Services
If you’re buying bullion for investment purposes, you must check whether the website you’re buying from offers storage services as well. You don’t want to risk your investment getting lost or stolen from your home, and storage services can come ideal in these situations.
Instead of looking for a separate storage service, it is best to opt for a seller who can offer your secure storage facility as well. Go through their rates and terms before you decide to sign up.
When you consider these factors, you won’t have a problem finding the right gold bullion website to make your purchase from.
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