Originally Posted by
cmhsieh54
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.