Gold and silver bullion are considered to be one of the safest long-term investment options, especially if an economy is prone to inflation or devaluation. Gold and silver bullion can be easily bought from two places: online or a local gold/silver shop. Local gold/silver shops have been selling bullion since they were produced. They started as pawnshops and evolved into proper resale stores.
Both private and public bullion mints and refineries operate online shops, and this method of selling bullion has gained popularity in recent years where they act essentially the same as regular stores. People living in other cities, countries, or essentially anyone with an internet connection can buy from these shops. The major difference between local and online shops is that local shops give customers the convenience of assessing the gold/silver bullion while online shops can sometimes be a bit of a gamble.
Online gold/silver bullion stores usually offer their products at a lower price. This difference is because local sellers incur a lot of additional costs such as rent, bills, overhead, taxes, etc. whereas online sellers incur relatively lesser costs. This is the reason why online sellers can afford to sell their products at reduced product premiums. As per historic trends, gold and silver prices hit their lowest during January, March, and sometimes April or the end of June. This means that an investor should be vigilant during these months and consider buying when gold and silver bullion prices are the lowest. More info on current bullion prices is available on the Australian Gold News website.
One of the most expensive gold bullion suppliers in the world is the Swiss bullion brand “PAMP.” PAMP is one of the leading brands of gold bullion. Their gold bars are 99.99 % pure. Their bars come in weights as low as 1g, 2.5g, 5g, 10g to as heavy as 500g. These gold bullion bars are can get as cheap as $126 to as expensive as $2800. A relatively cheaper option for buying bullion is from The Perth Mint Bullion which is considered as one of the best mints in the world.
The Perth Mint offers low cost silver and gold bullion prices for investors and is the most popular source of investment gold in Australia. The bullion are 99.99% gold and 99.99% silver. Perth Mint sells gold coins weighing ½ oz, 1/10 oz to 1 kg, and bullion weighing as low as 5g, 10g to as high as 1kg. Gold coins are sold at a price range of $95.5 -$61,467. Gold bars are sold at a price range of $307.8-$95,583. Silver coins weigh as light as ½ oz and as heavy as 1kg with a price range of $19-$842.3. Perth mint sells silver bullion at a price range of $256.5-$2,565.9 weighing 10 oz, 100oz, and 1 kg. Since casting bullion costs less than minting them, cast bullion are cheaper than minted bullion.
Casted bullion are preferred by investors who want to pay a minimum premium over gold prices. Casted silver bullion weighing 1kg and 99.9% purity costs around $1292.9 whereas a minted silver bar of the same weight and purity costs around $1,032.23. A casted gold bar of weight 1kg and fineness 999.900 costs around $1950.41 and a minted gold bar of the same weight and purity costs around $ 64,940.73