Reputation
The first thing to consider when looking for a precious metals seller is their reputation. Social media makes it easy enough to ask around about the trustworthiness of a seller. There are customer reviews and ratings that can help you gauge the reputation of the vendor. You can also get a few references from the seller directly to make sure that your investment is in safe hands.
Various agencies, such as BBB or FEEFO, rate bullion sellers, and it is a good idea to check their ratings. It is advisable to not go for anything below ‘A’ or ‘A+.’
Article Continues after the joke
Two croupiers are sitting bored at the roulette of THE CASINO.
Two croupiers are sitting bored at the roulette of THE CASINO.
Suddenly a very attractive blonde woman enters and bets $20,000 on a roll, saying: "I hope you do not mind, but I feel very lucky when I play naked."
With that, she unbuttons the zipper, takes her dress and underwear off, throw the dice and yells: "Come on baby, mama needs new clothes!"
She looks with agony and as soon as the dice stops, starts jumping up and down screaming: "YES, YES, YES I WON!"
She embraces one to one of the dealers, taking her profits and clothes and disappears.
The guys are looking dumbfounded at each other.
Eventually, one asks: "Did you see what dice she rolled?"
I do not know, I thought you were watching!
Get References From Friends And Family
A good way to find a trustworthy seller is by asking about it from your family and friends. If your friends and family have already bought precious metals, then you can get them to refer their vendor to you. This way, you will get first-hand information about the reliability of the seller.
Fees And Commissions
Sellers will, of course, add a fee or commission when they sell gold or silver to you. How much they charge is another matter. Typically, the commissions are between 5% to 6% for a one-ounce gold coin. You can take this as a benchmark and make sure that you are not paying more.
Security
Often sellers also offer storage facilities. Make sure to inspect their facilities before you opt-in. You should be given a personal allocated locker for your precious metals. The seller should also offer the facility for you to visit and inspect your vaults anytime you decide.
Another security concern is your personal information. Make sure that the vendor has a secured network that prevents hacking and leaking of your personal information.
Something For Everyone
Another mark of a reputable seller is that they will have something for everyone. Meaning, you can get gold and silver from the smallest of denominations to the largest. Therefore, you should get a 1 gram leaf to a 1 kg bar of the metals, all in one place.
Precious metals investments are considered safe given the volatile nature of the securities market. You can rest assured that your investments are secured as it reaps returns. If you are looking at other sellers, you can follow the above tips to find a dependable vendor.
