When I’m asked if you can buy rare American coins, world gold coins, silver eagles, or bullion coins with a credit card, the simple answer is “yes”. But there are only certain dealers or venues that will accept your card. So, it is possible to buy coins with a charge card, if you shop at the places which accept them.
As a general rule, online coin dealers are far more likely to accept credit cards than your local coin shop. The online sales almost always charge higher prices for those purchases than check or wire transfer.
Generally a local rare coins dealer only accepts cash for your purchases. This is a long standing tradition with them. Coin dealers will say they can only sell at the lowest prices with a cash payment. They give paper receipts, so it’s not like they’re trying to hide the transaction.
Many people buying US rare coins, world gold coins, or bullion coins want it at the lowest price available. This can’t happen with what the credit card companies charge retailers for accepting them. As mentioned before, expect to pay more for your purchase, if you elect to use that means.
I think the local dealers are missing an opportunity to make extra sales when they don’t allow you to buy rare American coins, world gold coins, or silver eagles, with a credit card. We are in an electronic money age and cash is being used as a medium of exchange less frequently anymore.
There are many online coin and bullion dealers that allow you to buy rare American coins with a charge card. If a credit card is all you have available, there are many dealers to choose from.
If you buy coins from the US mint, that’s the only form of payment they accept. I regularly buy directly from the US mint using a credit card, and probably pay a higher price because of it.
Venues like Amazon and eBay/PayPal make it possible to buy gold coins and silver coins with a credit card. They accept ACH debits from a checking account for payment as well. I use both methods when making purchases online.
Whenever the topic comes up, I often respond with “do you really want make your rare US gold coins, world gold coins, or rare American coins purchase that way?” I can tell you from personal experience that is a way to lose control of your budget. It is way too easy to keep charging when you don’t have the resources to repay.
Most local coin shops and coin shows only accept cash. That’s good for me anyway. It helps keep spending under control. I’ve never had consumer debt on credit cards. I don’t consider coin purchases to be consumer debt, because they usually either increase in value or stay the same, but rarely decrease substantially.
I’ve learned that credit card debt is all the same. Expensive. You may earn points from the purchase, but that doesn’t come close to what you’ll pay in double digit interest.
It is much better to buy with cash or at the very worst, a low interest loan. Avoid paying the double digit interest on your coins. Generally speaking, if you have to charge something, you can’t afford it. Only get what you can afford.
You could end up losing the coin value of silver dollars or gold coin value to the interest on a credit card. Use a credit card only if you have to, and pay off the principle every month, if you do use one. Otherwise use a different way to purchase your coins