How to Compare Gold and Silver Prices Online
Buying gold and silver online can be overwhelming. With dozens of dealers offering thousands of products, how do you know you're getting a fair price? This guide walks you through the key factors to consider when comparing bullion prices online.
1. Understand Spot Price vs. Dealer Price
The "spot price" is the current market price for raw gold or silver, set by commodities exchanges. Dealers charge a premium above spot to cover their costs and profit margin. The premium is the real number you should compare across dealers — not just the final sticker price.
For example, if gold spot is $2,000/oz and Dealer A sells a 1 oz Gold Eagle for $2,080 while Dealer B sells it for $2,065, Dealer B has the lower premium ($65 vs $80 over spot).
2. Compare the Same Product
Not all gold coins are created equal. An American Gold Eagle, a Canadian Maple Leaf, and a South African Krugerrand are all 1 oz gold coins, but they carry different premiums. When comparing prices, make sure you're looking at the exact same product — same weight, same mint, same condition.
Tools like Coin & Bullion Tracker's comparison feature group identical products across dealers so you can see price differences at a glance.
3. Factor in Shipping Costs
A dealer with the lowest product price might not be the cheapest overall. Shipping costs for precious metals can range from free (on orders above a threshold) to $20+ for insured delivery. Always check:
- Free shipping thresholds (often $99–$199)
- Insurance included or extra
- Delivery timeframes
4. Check Availability
The lowest price doesn't matter if the product is out of stock. Some dealers list products at attractive prices but mark them as "Out of Stock" or "Pre-Sale." Prioritize dealers that actually have the item ready to ship.
5. Consider Payment Methods
Most dealers offer discounts for paying by check or bank wire (typically 2–4% less than credit card prices). If you're comfortable with a bank transfer, you can save significantly on larger orders.
6. Use Price Comparison Tools
Instead of manually checking each dealer's website, use a price comparison platform. Coin & Bullion Tracker aggregates prices from 11 major online dealers, making it easy to find the best deal without visiting each site individually.
Key Takeaways
- Focus on premiums over spot, not just sticker prices
- Compare identical products (same weight, mint, condition)
- Include shipping costs in your total calculation
- Verify the product is actually in stock
- Consider payment method discounts for larger orders