Precious metals remain one of the oldest — and still most reliable — ways to diversify a portfolio. But “buying gold and silver” in 2025 looks different than it did a decade ago: prices have rallied hard, supply dynamics (especially for silver) are tight, and online dealers, storage options, and secondary markets have matured. Below is a practical, step-by-step guide to buying and selling bullion today, with the checks and caveats you need to avoid costly mistakes.
Start with a Clear Objective
Decide whether you want bullion for long-term wealth preservation, short-term speculation, or as a liquid emergency asset. That goal determines your product mix (gold vs silver), how much to buy, and where to keep it. Gold still functions primarily as a store of value; silver mixes store-of-value characteristics with substantial industrial demand — a factor behind recent price strength. Recent market moves show silver surging amid supply squeezes and growing industrial demand, reinforcing the case for careful sizing.
Know the Market Price and the Premium
Always compare the dealer’s price to the live spot price (what traders pay for the metal itself). As of mid-December 2025, spot gold is trading in the low-$4,000s per ounce and silver around the low $60s — a far higher baseline than in previous years, which affects premiums and taxation. Track a reliable spot feed and add the dealer’s premium to that to know the all-in price.
Choose the Right Product: Coins, Bars, or Rounds
- Government bullion coins (Krugerrand, American Eagle, Maple Leaf) — Highly liquid, widely recognized, often carry smaller premiums for common sizes and are simple to sell.
- Branded bars (1 oz to kilo) — Better when you want larger metal weight at lower per-ounce premiums; good for storage efficiency.
- Generic rounds — Often lower cost, but slightly less liquid than government coins.
In addition to gold and silver options, investors can also consider exquisite platinum coins, which offer both rarity and aesthetic appeal while adding further diversification to a precious metals portfolio.
Think about divisibility: if you may need to liquidate part of your holding, smaller coins are easier to sell.
Pick Reputable Dealers
Use dealers with clear pricing, secure shipping, transparent buyback policies, and strong reviews. Established online dealers and marketplaces remain some of the best places to start; up-to-date reviews list APMEX, JM Bullion, and similar firms among top options because of selection, transparency, and service. Cross-check ratings on independent outlets and industry review sites before you commit.
Red flags: prices that differ wildly from competitors, evasive shipping or return terms, lack of verifiable physical address, or pressure to buy quickly.
Payment, Delivery, and Storage
Payment options often include bank wire (best for lower premiums), credit card (more expensive), or crypto at some dealers. For delivery, insured courier service is standard. For storage, weigh the tradeoffs:
- Home storage: Immediate access but higher theft risk; invest in a quality safe and insurance.
- Bank safe deposit: Widely used but may be inaccessible during bank closures and not fully insured for theft or disaster.
- Allocated professional storage: Insured, segregated, and convenient for large holdings — a good fit if you own significant weight. Many dealers offer storage services or will arrange third-party allocated vaulting. Always understand the fees and whether the product is allocated (your specific bars/coins) or unallocated (a claim on metal).
Authenticate and Document
Keep all invoices, assays, and certificates. For larger purchases, insist on LBMA “Good Delivery” or recognized mint markings for bars and coins; reputable refiners and mints carry hallmarks that make resale simpler. The London Bullion Market Association provides responsible-sourcing and refining standards that many large buyers look for.
When to Sell — Channels and Tactics
You can sell to:
- The original dealer (if they offer buybacks) — convenient but not always top price.
- Local coin shops — quick sale; negotiate, and bring documentation.
- Online buyers/auction platforms — wider buyer pool; factor in shipping, fees, and time to settle.
- Private buyers/peer platforms — often higher prices but greater risk and need for careful vetting.
Prepare before selling: clean documentation, check the live bid (dealer buy) vs spot price, and know bids across several channels. Many dealers publish their current buy price; compare offers and account for shipping/commission so you can pick the best net price.
Taxes and Record-Keeping
Profits from selling bullion are usually taxable as capital gains in many jurisdictions. Keep purchase and sale records (dates, amounts, serial numbers if present) and consult a tax advisor about reporting thresholds and any exemptions. Don’t assume bullion sales are tax-free simply because it’s “physical.”
Risk Management
- Diversify sizing (mix coins and bars).
- Don’t overallocate precious metals relative to your overall portfolio and risk tolerance.
- Store documentation and consider insured storage if your holding is material.
- Beware of scams that advertise “too good to be true” discounts or require exotic payment methods.
Bottom Line
Buying and selling bullion in today’s market requires the same basics as always — know your objective, compare live spot and premiums, validate dealers, document and store securely — but in 2025 those basics are more important than ever because prices are elevated and supply quirks (notably for silver) can widen bid/ask spreads. Use reputable dealers, track live spot prices, store with security in mind, and keep clean records when selling — and you’ll avoid most of the costly pitfalls that trap casual buyers.