The United States and Canada are the two easiest places to buy silver online. You will find very limited restrictions on shipping and will be able to choose from a variety of online bullion sellers, such as JM Bullion. It is only once you step outside of North America that the vast majority of silver buyers will have any issues making a purchase of silver over the internet. Plus, you will have the most protection from any sort of problems that you could ever potentially run into. Generally, living in North America is ideal for anyone looking to make an order of anything online, and silver is no exception.
Shopping for silver for residents of the US and Canada is as straightforward as it gets. All that you need to do is find a reputable silver site and place your order. Luckily, most all online retailers will accept most any major credit or debit card from these countries. There really are not any hoops that you are going to need to jump through if you want to get some bullion in your hands.
While both the US and Canada are great spots to make your purchase from, the United States is still the easiest. Because of the proximity of silver dealers to the citizens, shipping costs and any other fees are going to be quite minimal. One of the only ways that you will be forced to pay more than you planned on silver is if you get stuck with huge shipping fees. As a US buyer, though, you won’t have anything to worry about whatsoever.
You do not need to look around for a site that will accept your business. Virtually every site is going to accept customers from the US. If they don’t, it is all but certain that they will make it explicitly known. If you are in the US, you should be looking into replacing your paper money more than anyone, and it shouldn’t be a struggle at all.
Canada is pretty similar to the US when it comes to buying silver online. It is not so much a matter of figuring out where to buy from as it is what to buy. The only hassle that you will run into are shipping costs. Even though your costs will tend to be a little bit higher than you are going to run into from the US, they are not really that expensive in the grand scheme of things. The best way to cut costs for Canadian citizens is to pick the slowest method of delivery as possible. Since you are probably not in much of a rush to get the bullion itself in your hands, there is little value in paying for any sort of expedited service.
Customs are a potential issue for US buyers, but they are hardly a worry. If you would happen to be one of the very rare people who have issues with customs, you are not going to wind up losing money anyway. Gold and silver are not going to be a cause for concern at customs, though, so it is all but a lock that your order will be delivered without any type of hold ups. Just choose a reputable and safe site, as are promoted right here, and you will be just fine.
If you are a Canadian citizen who is frustrated with the lack of silver buying options that are available, we understand where you are coming from. With that said, it is also worth considering the viewpoint of the dealers themselves. Unless they are already located within Canada, shipping out of the country is going to cost a relative fortune. Unless buyers are willing to pay astronomical prices for shipping (and some are), there is just no way for a dealer to sell to Canada. Even in this case though, there is still plenty of opportunity to lose money between scammers, fraudulent buyers, and so on and so forth. It is not at all that the silver websites don’t want to sell to Canadian buyers, it is just that it is not profitable or easy for them to do. There are some places that do cater to Canadian buyers, but they are not nearly as abundant as US-facing companies.
Taxes in the US
One of the biggest concerns that a lot of US buyers have is in regards to taxes. They are worried that if they need to pay any % of the sale in taxes that their costs are going to inflate so much that it would no longer be logical for them to buy silver. While this would definitely be a legitimate concern, it is not a well founded one. Very few states actually charge a tax on precious metals, and the ones that do usually require that both the buyer and seller be in the same state.
The easiest way to save money on taxes is to buy online as this will usually free you from taxes even if your home state actually has them. Please note that this is not doing anything illegal and is not a means of circumventing the system. This is how taxes work in the United States for the most part so it only makes sense to save money wherever you can. As this is definitely not to be used as legal advice, please be sure that you check with your local jurisdiction to find out what the exact rules are on taxes, precious metals, and your area.
Just as taxes on actual orders are a worry for some, so too are taxes at the end of the year, be it on income, assets, or otherwise. Again there is a lot of room to maneuver without needing to pay taxes on any profit that you make, but it can become a bit complicated. The best thing that you can do to get straightforward answers on taxes for you personally is to ask an accountant. This will ensure that you have the absolute correct information and that you are not doing anything wrong.