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
blonde on plane
There's this blonde.
She gets on a plane and sits in the first available seat.
The flight attendant is coming around checking tickets.
She looks at the blonde woman's ticket and tells the blonde; "ma'am you can't sit here, your ticket says coach and this is first class.
please move to the back of the plane"
The blonde replies "I'm a blonde, I'm smart and have a good job.
I'm not moving until the plane arrives in Jamaica"
So the flight attendant, now hot under the collar at the blonde's response, goes to another flight attendant and tells him what happened.
so he goes up to her and asks her to move to the back of the plane.
She then responds "I'm a blonde, I'm smart and have a good job.
I'm not moving until the plane arrives in Jamaica".
So the two flight attendants are steaming mad and they go to the co-pilot and tells him what is going on.
He comes back to where the blonde is sitting and leans over and whispers something in her ear.
The two flight attendants were astonished when the blonde abruptly got up from her seat and moved to the back of the plane.
They looked at each other and then the co-pilot and asked him what he told her.
The co-pilot, feeling good about himself told them "oh, this happened a while back with someone else.
I just simply told the woman that the front half of the plane wasn't going to Jamaica".
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.
