A man walks out of his local market with a loaf of bread…

The cost?

A silver coin.

The date?

1843.

Fast forward 100 years.

That man’s great-grandson walks out of his local market with a loaf of bread…

The cost?

One US Federal Reserve Note, backed by the US government, secured by precious metals.

Today, things aren’t so simple when it comes to money…

In 1971, President Richard Nixon ended the dollar’s link to gold.

From that point on, its value was no longer tied to a physical commodity – but to policy, central banks… and trust in the system.

Since then, gold has risen from about $35 an ounce… to over $4,000 today.

Currencies are created with keystrokes…

debt grows faster than economies…

and investors like Jim Rickards spend a good deal of time explaining why the system may not be as stable as it appears.

What follows is a primer on buying physical gold and silver bullion – the ins and outs of it – for readers who’d like to get started.

And for those interested in strategically adding bullion to a portfolio without physical ownership, you’ll hear from Rob Villaflor of Sprott Wealth Management, a WorthNet partner adviser focused on natural-resource investing and precious-metals strategies.

Now let’s dive in…

Buying Bullion

For investors who want direct exposure to precious metals, the starting point is usually physical bullion.

Bullion simply refers to gold or silver purchased for its metal value rather than for rarity or collectibility. In other words, when investors talk about “owning gold” or “owning silver,” they’re usually talking about bullion products designed to trade close to the value of the metal itself.

The two most common forms are coins and bars.

Many individual investors begin with government-minted bullion coins such as the American Gold Eagle, American Silver Eagle, Canadian Maple Leaf, or South African Krugerrand. These coins are produced by national mints, carry a clearly defined metal content, and are widely recognized in precious-metals markets around the world.

That global recognition matters. If an owner ever decides to sell, widely traded coins tend to be easy for dealers to price and easy for buyers to recognize, which helps maintain liquidity.

Bullion bars are another option. Produced by major refiners, bars are available in a range of sizes – from one ounce up to much larger formats, particularly in silver.

Because they’re simpler to manufacture, bars sometimes carry slightly lower premiums relative to the metal price. Still, coins often remain the entry point for individual buyers because they’re easier to sell in smaller increments and tend to circulate more widely in retail bullion markets.

One concept that often surprises new buyers is that bullion rarely sells exactly at the market’s “spot price.”

Instead, investors typically pay the spot price plus a premium. That premium reflects the real-world costs of minting, refining, distribution, and dealer margins.

In normal conditions, widely traded bullion coins and bars tend to carry relatively modest premiums over the metal price. Silver products often show higher percentage premiums than gold because fabrication costs represent a larger share of the product’s value

One final distinction is worth keeping in mind…

Investors focused primarily on metal exposure generally stick with standard bullion products, not collectible coins. That’s because collectible coins can carry large markups tied to rarity, grading, or historical interest rather than the metal itself – making them a different kind of purchase altogether.

For investors whose goal is straightforward exposure to gold or silver, the simplest approach is usually the same one that has existed for centuries:

standard bullion products whose value tracks the metal they contain.

To that end, bullion purchases typically happen through three channels:

1. Established online bullion dealers
2. Local coin shops
3. Specialized precious-metals brokers

Each provides access to the same globally recognized bullion products discussed above.

Online dealers tend to offer the widest selection and transparent pricing.

Local coin shops offer the advantage of face-to-face transactions.

Either way, experienced buyers usually focus on reputable dealers quoting clear premiums over the spot price, rather than chasing unusually low offers that may come with hidden costs.

Of course, not every investor who wants exposure to precious metals chooses to hold coins or bars directly…

For some investors, the appeal of bullion is clear. For others, the logistics of storage, insurance, and security raise a natural question:

Is there a simpler way to gain exposure to the metals themselves?

Another Way Investors Access Precious Metals

According to WorthNet partner adviser Rob Villaflor of Sprott Wealth Management, the decision often begins with a practical consideration.

“Some investors like the idea of holding physical bullion,” Villaflor explains. “Others prefer exposure through investment vehicles that handle the custody and storage of the metal for them.”

That difference often comes down to the logistics of owning physical metals – things like storage, security, and insurance.

One example is the Sprott Physical Gold Trust and Sprott Physical Silver Trust, investment vehicles backed by fully allocated precious metals stored at the Royal Canadian Mint.

Unlike many traditional gold or silver funds, these trusts hold physical metal in segregated storage, rather than relying on derivatives or other financial instruments designed to track the metal’s price.

That structure allows investors to access precious metals through a brokerage account while leaving the custody of the metal itself to the fund.

Villaflor says the real decision investors face is rarely just whether to own gold or silver.

More often, it’s how much exposure makes sense within a diversified portfolio – and which structure best fits an investor’s goals.

For some investors, that may mean holding physical bullion directly.

For others, it may involve investment vehicles tied to the metals themselves or companies that produce them. In that case, registered investment advisers like Sprott Wealth Management can help investors build a portfolio of natural resource stocks tailored to their unique needs.

“When doing your research in finding any investment adviser who invests in precious metals,” Villaflor says, “you should look for a firm with deep expertise in this space.”

If you’re interested in learning more about Sprott Wealth Management and the services it offers, click the button below.

WorthNet itself doesn’t provide advisory services and is not a client of Sprott Wealth Management or the other advisers; rather, we are compensated for promoting certain advisers in our network and we have a financial incentive to recommend these advisers, which creates a material conflict of interest.

Robert V. Villaflor

CEO of Sprott Wealth Management

Natural Resource Investment Strategist

Robert V. Villaflor is the CEO of Sprott Wealth Management, where he leads a team of advisors who work with investors seeking exposure to alternative investments and real assets as part of a diversified portfolio approach. Sprott Wealth Management (CRD #139022) is a proud member of the WorthNet partner adviser network.

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Last Revised: May 21, 2026