Finding Reputable Dealers
Things To Know Before Buying Precious Metals.
Once you have determined that you want to start making precious metals purchases, take sufficient time to find an experienced and honest dealer. To preserve as much of your resources as possible, compare different dealers amd review their credentials. You should also select a dealer whose premium is low.
Premium is the price beyond the precious metal's spot price (or current cost) that allows the dealer to make a profit. The premium on individual items is usually higher than that of larger purchases.
There are two reliable options for precious metals collectors; local coin dealers and online precious metals websites.
Generally speaking, websites tend to offer lower premiums than coins shops. The main difference between online and local precious metal dealers is customer service and price.
It is imperative that you make your purchases from a very well-respected and reputable coin dealer. If you are considering an online purchase, be sure to see what other customers are saying about them. Avoid buying from anyone with a no-return policy, especially if claims are made that the coins are from an estate sale. Also stay away from coin dealers who are selling coins for far less than what they are worth. If it seems too good to be true, it probably is. Plus, you'll run the risk of purchasing fake coins.