Monument Metals: A Guide to Precious Metals Investing
Precious metals investing has gotten complicated with all the dealer options, premium variations, and storage debates flying around. As someone who has purchased from multiple dealers including Monument Metals, I learned everything there is to know about buying gold and silver from online sources. Today, I will share it all with you.
Who Is Monument Metals?
Probably should have led with this section, honestly—Monument Metals operates as an online precious metals dealer offering gold, silver, platinum, and palladium bullion at competitive premiums. They’ve built a reputation for transparent pricing and responsive customer service.
What They Offer
Their inventory covers the major product categories:
Gold
- American Gold Eagles, Canadian Maple Leafs, Krugerrands
- Gold bars from 1 gram to 1 kilo
- Gold rounds from various private mints
Silver
- American Silver Eagles, Canadian Maples, Austrian Philharmonics
- Silver bars in various weights
- Generic rounds at lower premiums
Why Precious Metals?
That’s what makes precious metals endearing to us collectors and investors—they’ve maintained purchasing power for millennia while paper currencies come and go. Gold and silver serve as portfolio diversification, inflation hedges, and tangible assets outside the banking system.
Understanding Premiums
The “spot price” is the base metal value. Premiums cover minting costs, dealer margins, and supply/demand factors. Government coins typically carry higher premiums than generic rounds or bars. Bulk purchases reduce per-ounce premiums.
Storage Options
- Home safe: Convenient but requires security and insurance
- Bank safe deposit box: Secure but limited access
- Private vault services: Professional storage with insurance
Tax Considerations
Precious metals are classified as collectibles for tax purposes, potentially subject to higher capital gains rates than stocks. Some transactions require dealer reporting. Keep detailed purchase records for accurate cost basis calculations.
Buying Process
Most online dealers including Monument Metals follow a similar process: browse products, add to cart, lock in prices, pay via bank transfer or credit card, and receive insured shipping. Bank transfers typically offer lower prices due to avoided credit card fees.
