MilesBuzz! - Buying gold bullion/coins with CC

Hi all,

I'm aware of the 'presidential coins' thread, but I'm a bit wary of doing the whole dance with the bank.

Alternatively, I'm actually not averse to investing in gold right around now. (And yes, I'm aware of the equally valid point that gold could instead be considered as merely a hedge.)

Has anybody here ever bought gold bullion/coins (i.e. Krugerrands or American Buffalos or American Eagles) using a credit card? I guess EBay would work, but are there any reputable dealers that accept it for spot + small markup? I'm pretty sure both Monex and CMIGS don't accept CC.

Any guidance would be great.
-cmhsieh54

You can purchase US Gold Bullion coins directly from the Mint and use a credit card. They even ship them for free.

There are a fairly decent number of "reputable" dealers on ebay, just follow the auction and fixed price bullion items for a few weeks and always check the feedback.

Using your CC through your paypal account means the seller will absorb much of the cost and should cost you nothing additional.

Your best bet will be if MSN Live cashback comes back anytime soon. If you can get a 20-30% rebate you will be able to get your bullion at below spot prices.

Hi all,

I'm aware of the 'presidential coins' thread, but I'm a bit wary of doing the whole dance with the bank.

Alternatively, I'm actually not averse to investing in gold right around now. (And yes, I'm aware of the equally valid point that gold could instead be considered as merely a hedge.)

Has anybody here ever bought gold bullion/coins (i.e. Krugerrands or American Buffalos or American Eagles) using a credit card? I guess EBay would work, but are there any reputable dealers that accept it for spot + small markup? I'm pretty sure both Monex and CMIGS don't accept CC.

Any guidance would be great.
-cmhsieh54

If you're ok with over paying by about 20% in order to earn a few airline miles, go right ahead.

None of the dealers with the slimmest margins (i.e APMEX, Bullion Direct, Colorado Gold, CNI, etc) take credit card. There's no way they can pay the merchant fee and still deliver you bullion as close to spot (melt) rate as possible.

The only caveat, as mentioned by someone else here, is when the Microsoft Live cashback deal was working with eBay you 'could' find a fantastic price and pay through pay pal... but this was due to Microsoft subsidizing the purchase, without the cashback, you'd be grossly over paying.

And yup, the US Mint does take credit card, but, they are amongst the worst priced for eagles, unless you somehow get a dealer license with them or something. As mentioned before though, I'd rather get the best price on my investments, if the best price dealer happens to accept a credit card, all the better -- but, as of yet, I've found no one who takes CC's to give better prices than the 'cash' dealers.

Hi all,

I'm aware of the 'presidential coins' thread, but I'm a bit wary of doing the whole dance with the bank.

What "whole dance"? I refuse to read through that enormous thread, but you guys are banking at some ghetto locations if they are not accepting valid US currency as a deposit. If they are making it uncomfortable for you, just tell it like it is "this is cash, you are a legit bank so you have to accept it or I am taking my business elsewhere."

Life is too short to waste time taking crap over something they are required to do.

What "whole dance"? I refuse to read through that enormous thread, but you guys are banking at some ghetto locations if they are not accepting valid US currency as a deposit. If they are making it uncomfortable for you, just tell it like it is "this is cash, you are a legit bank so you have to accept it or I am taking my business elsewhere."

Life is too short to waste time taking crap over something they are required to do.

Well, fortunately you don't need to read that entire thread. Everything is explained in the first post. Buy the coins with a credit card at face value, shipping is free, deposit the coins. Nothing else to it. The rest of the thread is numerous wastes of bandwidth of people commenting about placing an an order -- wow. There are a few nuggets of information in there about out how to get more than your 2 boxes of each President.

You are correct though, any bank not accepting them is not a bank worth my business. I've deposited with two different banks, and 3 different branches of each. Never a problem, not even a strange look.

I've found the $1 coin purchases to be the best way to make required minimum spending on various credit cards to get the sign on bonus.

Well, fortunately you don't need to read that entire thread. Everything is explained in the first post. Buy the coins with a credit card at face value, shipping is free, deposit the coins. Nothing else to it. The rest of the thread is numerous wastes of bandwidth of people commenting about placing an an order -- wow. There are a few nuggets of information in there about out how to get more than your 2 boxes of each President.

You are correct though, any bank not accepting them is not a bank worth my business. I've deposited with two different banks, and 3 different branches of each. Never a problem, not even a strange look.

I've found the $1 coin purchases to be the best way to make required minimum spending on various credit cards to get the sign on bonus.

Oh hey, I've read that part of the thread (I've actually placed, successfully completed, and successfully deposited an order), I just meant I didn't care to go through exactly what you pointed out - people complaining about their banks. :D

None of the dealers with the slimmest margins (i.e APMEX, Bullion Direct, Colorado Gold, CNI, etc) take credit card. There's no way they can pay the merchant fee and still deliver you bullion as close to spot (melt) rate as possible.


I do believe www.apmex.com takes credit cards. I think they add 3% to the total amount though.

I've dealt with them before and have nothing but praise.

I do believe www.apmex.com takes credit cards. I think they add 3% to the total amount though.

I've dealt with them before and have nothing but praise.

I stand corrected. I didn't think APMEX took CC's. Tthen again it has been a while since I've bought in bulk -- back when Au was trading in the low $300's, perhaps they've changed policy since then.

Nonetheless, a 3% fee for CC orders (or likely they write it a 3% discount for cash) pretty much completely negates any points earned on the CC.

Agreed though, nothing but praise for them.