When buying gold coins locally, know that your options will be limited. Still, in any large city you should be able to find several shops offering a steady stock of popular gold coins such as the American Gold Eagle, as well as other physical gold such as bullion and jewelry.
Local Options
There are several options for those who wish to purchase gold coins from a local dealer. Many coin shops offer an array of gold coins; some also offer bullion bars and rounds. You may also find gold coins or jewelry at a pawn shop. Many of these stores have been open for decades, building a lengthy reputation for selling high quality coins. There are highly regarded gold sellers in many cities around the nation.
There are a couple of downsides to shopping exclusively through local dealers. Visiting local coin shops and pawn shops can be hit-or-miss. If you’re after a very specific coin, you may have to wait for quite a while before it comes up for sale locally. In addition, prices are typically higher when buying locally than when shopping online.
Here are links to further information on most local gold buying options:
We also have listed coin dealer contact information and pricing details for several major US cities:
Relative Pricing
The higher overhead of operating a retail storefront, along with reduced competition, means that many local coin sellers have higher prices than their online counterparts. Plus, if you are located in an area that charges sales tax on precious metals, you will have to pay the sales tax when shopping locally.
Despite these downsides, there are many reasons to patronize your local coin dealers and pawn shops when searching for gold. One advantage of buying locally is the ability to see and touch the products before buying. For many collectors, this seems like the safest method of buying coins.
Personal Relationships
Walk in with cash, carefully inspect the coins for sale, and walk out with gold. Unlike buying online, you aren’t purchasing a coin sight-unseen, and there’s no need to send money to someone you’ve never interacted with in person. Plus, there is the prospect of immediate gratification.
Many collectors prefer the relaxed pace of shopping in person instead of shopping online. They find that they are able to browse a wide variety of coins, without having to look for something specific. They enjoy the excitement of dropping in to their local coin dealer’s shop to see if any gold coins have come in recently.
Another advantage of visiting local coin dealers is the opportunity to network with other gold investors and coin collection. This is a great option for those who are new to the world of gold coins and want to become more knowledgeable.
Visiting a local dealer is often the best way to receive personalized attention. Many dealers will take the time to explain the finer points of gold coin collecting to those who visit in person. This makes local coin sellers a great resource, not just for buying and selling gold coins, but also for knowledge.
Before shopping locally for gold coins, do your research. Make sure that you know the current spot price of gold. If you are looking for a specific coin, look up its current value before visiting the coin shop.