Honest reviews of online dealers and ETFs — so you can decide what's right for you
Before we get into specific dealers and funds, it's worth addressing the question most people have first: should you buy physical gold and silver, or is an ETF just as good?
Physical metal means you own something real — coins or bars you can hold, store, and sell on your own terms. There's no counterparty risk. If the financial system has a serious problem, physical metal doesn't depend on any institution staying solvent. The tradeoffs are real though: you need to store it securely, insure it, and selling requires a bit more effort than clicking a button.
ETFs like GLD and IAU give you exposure to gold's price through a normal brokerage account. You can buy and sell in seconds, there's no storage to worry about, and you can invest any dollar amount. The tradeoff is that you don't actually own gold — you own shares in a fund that holds gold. For most investors who care about price exposure more than physical possession, this is perfectly fine. For investors who want gold specifically as protection against systemic financial risk, physical metal may feel more meaningful.
Neither is objectively better. They serve different purposes. Many investors hold both. We cover all of your options below.
Consistently the lowest premiums among major online dealers
If your primary goal is getting the most metal for your money, SD Bullion is where you should start your price comparison. They consistently offer some of the lowest premiums over spot price in the industry — especially on silver rounds, gold bars, and American Silver Eagles. For buyers who do their homework and check prices across multiple sites before buying, SD Bullion tends to come out on top or very close to it.
The website is straightforward and functional. Product listings clearly show the premium over spot price, which I appreciate — it makes comparison shopping easy. They offer standard bullion products you'd expect: American Gold Eagles, Gold Buffalos, Canadian Maple Leafs, silver rounds, and bars from reputable mints. Nothing exotic, but everything you actually need.
One thing to be aware of: like most bullion dealers, SD Bullion charges a premium if you pay by credit or debit card (typically around 4% over their check/wire price). Paying by check or bank wire gets you the best rate. If you're buying in meaningful quantities, that difference adds up. Their shipping is insured and they package orders securely, which matters more than people often realize when you're shipping valuable metal.
SD Bullion is a younger company than APMEX, but they've built a solid reputation over the years and have processed millions of orders. Their customer reviews are generally positive. For straightforward bullion purchases where price is your main priority, they earn the top spot.
Outstanding customer experience with very competitive pricing
JM Bullion and SD Bullion are genuinely close competitors and I'd recommend checking both before every purchase. Where JM Bullion consistently differentiates itself is in the overall buying experience — the website is cleaner, product descriptions are more detailed, and their customer service is notably responsive and helpful. For first-time buyers who may have questions and want a smoother experience, JM Bullion is probably the better starting point.
Their pricing is competitive across the board — rarely the absolute cheapest, but consistently close. On certain products (Silver Maples, gold bars from specific mints) they sometimes beat SD Bullion. The honest approach here is to check both sites every time. Spend two minutes comparing prices on the exact product you want. The difference on a single one-ounce gold coin can be $15–$30, which adds up over time.
A feature I particularly like on JM Bullion is their live price tracking and buyback program. They post prices at which they'll buy back what you sell them, so you know going in what the spread looks like. Most dealers are opaque about this. That transparency is genuinely valuable.
JM Bullion also accepts cryptocurrency as payment, which some buyers prefer. Their packaging and insured shipping are excellent — products arrive well-protected and tracking is reliable. Their A+ BBB rating reflects a track record of resolving customer issues properly, which matters in an industry that isn't always well-regulated.
The largest and most established online precious metals dealer
APMEX is the industry giant — the longest-established major online bullion dealer, with a catalog of over 20,000 products spanning everything from standard bullion coins and bars to rare numismatic pieces, commemoratives, and precious metals storage. If you want it, APMEX probably has it. No other dealer on this list comes close on selection.
The tradeoff is price. APMEX consistently charges slightly higher premiums than SD Bullion and JM Bullion on standard bullion products. For common items like American Gold Eagles or Silver Eagles, you're typically paying a premium for the name and selection rather than getting the best deal. This isn't a dealbreaker — the difference per coin might be $5–$15 — but for buyers focused purely on stacking the most metal per dollar, there are better options.
Where APMEX genuinely earns its premium is in trust and track record. They've been in business since 2000, have processed millions of transactions, and have an A+ BBB rating with an established reputation for handling disputes professionally. If you're making a large purchase and want to deal with the most established name in the space, APMEX is the obvious choice. The peace of mind has real value.
Their website is comprehensive, perhaps to a fault — the sheer number of products can feel overwhelming to new buyers. But the product descriptions, images, and information are excellent. Their buyback program is also robust, which matters when it eventually comes time to sell.
Price exposure to gold without the storage — which one should you choose?
GLD (SPDR Gold Shares) and IAU (iShares Gold Trust) are the two largest gold ETFs in the world and both do the same thing: track the price of gold by holding physical gold bullion in vaults. The price of each share moves with gold. When gold goes up, your shares go up. Simple.
The main difference between them is cost and share structure. IAU has an expense ratio of 0.25% per year versus GLD's 0.40%. That might sound trivial, but on a $10,000 investment over 10 years, the difference compounds to roughly $180. On larger amounts or longer timeframes, the gap grows. For a buy-and-hold investor, IAU is the better choice almost entirely because of this cost difference.
GLD is more widely traded and has higher daily volume, which matters for institutional investors and traders who need to move large positions quickly. For a retail investor buying and holding, GLD's higher liquidity isn't meaningfully valuable — you'll have no trouble buying or selling IAU in any amount a regular investor would hold.
One alternative worth mentioning: GLDM is a newer, lower-cost version of GLD (0.10% expense ratio) from the same issuer. It has lower trading volume but is worth considering if cost minimization is your goal. IAU and GLDM are both solid, lower-cost options compared to the original GLD.
The mechanics of buying are exactly the same as buying any stock or ETF through your brokerage. Open Fidelity, Schwab, or any platform — search for IAU or GLD — buy shares. Done. You can invest any dollar amount through fractional shares on most modern platforms.
What every first-time buyer should understand
Spot price is the raw market price of gold or silver per ounce. Dealers charge a premium above spot — their markup for minting, distribution, and profit. Premiums vary by product and dealer. Always look at the total price per ounce, not just the spot price.
For first-time buyers, American Gold Eagles, American Silver Eagles, Canadian Maple Leafs, and Austrian Philharmonics are the safest choices. They're universally recognized, easy to sell, and your local coin shop will know exactly what they are. Obscure coins from lesser-known mints can be harder to sell.
Check SD Bullion, JM Bullion, and APMEX for the same product before every purchase. Premiums can vary by $10–$30 per coin on identical products. Two minutes of price checking saves real money over time.
Most dealers charge a 3–4% surcharge for credit card payments. On a $2,000 purchase, that's $60–$80 extra. Paying by personal check or bank wire gets you the advertised (lower) price. Factor this in when comparing dealers.
Where will you keep it? Home safe options include bolted-down safes from reputable brands (Liberty, Fort Knox). Bank safe deposit boxes are convenient but not FDIC insured and inaccessible during emergencies. Third-party vault storage (offered by APMEX and others) is another option for larger amounts.
Gold and silver are volatile in the short term. Don't buy precious metals with money you might need within the next few years. They serve best as a long-term store of value and portfolio hedge — not a get-rich-quick investment. Size your position accordingly.