Bullion is one of the safest investments in the world. It can be used as a hedge against inflation, a store of value, or simply as a way to diversify your investment portfolio. However, bullion dealers can be difficult to evaluate and trust. There are many examples where people have lost money by trusting untrustworthy sellers; this includes everything from outright fraud to simple ignorance about the market. In this post I will teach you how to make sure that you’re dealing with an honest dealer who understands their product and will provide you with good advice for investing in bullion for yourself or your clients.
How long have they been in business?
A company’s longevity is a good indicator of its credibility. A company with a long track record will likely have satisfied customers, who can be found on social media and review sites such as Yelp or Google.
Many reputable bullion dealers have been in business for decades, so you’ll want to research whether the dealer you’re considering has been around for at least five years or longer. If they haven’t been around that long, ask yourself why? Is there anything about them that makes you doubt their trustworthiness?
Use these tips when choosing a bullion dealer.
When choosing a bullion dealer, there are several things you can do to ensure the safety of your investment.
- Make sure they are registered with the CFTC. The CFTC is an organization that regulates commodity futures trading in the United States. They also require all companies who trade commodities for their customers’ accounts to register with them and adhere to strict guidelines regarding transparency and fair dealing practices. If a company does not have this registration, then it may be fraudulent or otherwise untrustworthy.
- Check their website for information on their company and services.* Asking questions about how long they’ve been doing business, who owns them (if any), what types of metals they buy/sell/trade etc., will give you an idea as to whether or not this person has any expertise when it comes to valuing precious metals like gold & silver coins & bars etc.. It also gives insight into how trustworthy they might be when making recommendations based off past experiences selling these items through various avenues such as eBay
or Amazon. If they claim to be a company that has been in business for decades, then ask for references from past customers and check them out. Most importantly, don’t blindly trust someone just because they say they are an expert in the field of silver or gold trading.
Know the dealer’s reputation
You’ll want to do your research on the company you want to buy from. Start by checking out their website, where they should have a list of references or customer reviews that can help you form an opinion about them. If you don’t see anything like this on their site, ask them if they have any testimonials and if so, how long ago did they receive them?
If possible, talk with friends, family members and colleagues who may have purchased bullion from other dealers in the past. You could also ask for recommendations from local coin shops or gold buyers near where you live; these businesses usually know which dealers are reputable and which ones aren’t worth doing business with (or at least know who’s good at keeping customers happy).
Once you’ve found a few dealers that are reputable, it’s time to get down to business. Check out their website to see if they accept credit cards or PayPal, as well as any other payment methods they may offer. Some websites will list this information on their home page or FAQ section; others will require you to contact them directly via email or phone. If a company only accepts cash in person, that’s usually an indication that something is fishy about them (although not always).
Select a reputable bullion refiner
To ensure that you are purchasing from a reputable gold refinery, consider the following:
- Look for refiners that have been in business for many years. This can be a sign of their stability and trustworthiness.
- Look for bullion dealers who are members of the London Bullion Market Association (LBMA). The LBMA is an organization that regulates gold and silver market standards worldwide, ensuring quality products among its members. If a dealer has been approved by this organization, it’s likely they offer good products as well as fair pricing practices
Choose a company that guarantees purity, weight and quality of the metals they sell.
- Choose a company that guarantees purity, weight and quality of the metals they sell.
- Check their customer reviews.
- Ask for a certificate of authenticity with each purchase, especially if you’re buying rare or collectible coins or bars.
- Make sure they are part of a reputable industry association such as NTRCA (Numismatic Trade Research Company). This ensures that they have been vetted by other dealers in the field who can vouch for their integrity and honesty in transactions with customers like you!
The final step is to check that your chosen numismatic jeweler has insurance coverage on all bullion purchases made through them; this ensures that in case something goes wrong during shipping (or even after delivery), there will be compensation provided by either UPS or USPS depending on which carrier was used during shipment.”
The process of buying and selling gold is straightforward if you do the research.
The process of buying and selling gold is straightforward if you do the research. The first step is to research the dealer and refiner in question. Do they have a good reputation? Are there any complaints against them? If so, what are those complaints?
Next, make sure that your chosen refiner has a reputation for quality workmanship and ethical practices. You can check with local jewelers or collectors who may have worked with this company before; if possible, ask them about their experiences with this particular refining firm.
Finally, check the purity of your metals–this will ensure that you get exactly what you’re paying for!
Conclusion
If you’re interested in investing in gold or silver, it’s important to understand the difference between bullion and numismatic coins. Bullion is a form of currency that can be traded for goods and services, while numismatic coins have value based on their rarity, condition and desirability as collectibles. The United States Mint produces both types of coins, but some private mints produce only bullion while others produce only numismatic coins.