Gold Bullion is an attractive investment because it’s a valuable commodity and has been used as a currency since ancient times. It’s also easily recognizable, making it easier to sell than other commodities such as silver or platinum. However, buying gold isn’t just about investing in a shiny metal: there are many things to consider before purchasing bullion from a dealer. If you’re thinking about buying gold but don’t know where to start, here are some tips for finding the best dealers around town
See Their Policies
Before you do business with a Bullion Dealer, it’s important to see their policies. The following are some questions you should ask:
- What are their policies? How long have they been in business? Are they a member of any professional organizations? What kind of insurance do they offer and how much is the deposit required for this insurance coverage?
- If you want to store your gold at the dealer’s location, find out if there are storage fees associated with keeping your items at the facility. It may be cheaper to pay for insurance than pay a monthly fee for storage!
- Do they offer buyback programs so that when times get tough again (and believe me–they will), you can sell back your bullion coins or bars at face value without having lost money on them over time due to inflationary pressure (which is why buying now makes sense).
Ask for Documentation
When you are dealing with a gold dealer, it is important to ask for documentation on the company’s policies. You should also ask for documentation on their financials, history, ownership and accreditation.
Have a Pre-Approval
A pre-approval is a process that lets you know how much money you can borrow. In other words, it’s an estimate of how much gold you can purchase with your loan. When getting a pre-approval from an institution, make sure it’s done in writing and includes all the details of your loan agreement (interest rate, payment schedule and duration).
Pre-approvals are especially important because they allow you to shop around for different dealers while knowing exactly what kind of financing options are available on the market today–and how much each dealer will lend you based on their own policies and guidelines.
Don’t be afraid to negotiate.
You are paying for the gold, not the service. This means that you can negotiate the price of insurance and storage fees as well as shipping costs. You may even be able to negotiate on the type of gold you want to buy–for example, if you’re looking for something specific like American Gold Eagles or Austrian Philharmonics but don’t want to pay full price, try asking them if they have any options available at a lower rate.
Remember that gold is an investment, not a hobby.
Remember that gold is an investment, not a hobby.
You may have heard of people who collect coins or jewelry as a hobby, but this is not what we’re talking about here. Gold investments are not just for wealthy people or those who can afford to spend thousands on rare coins with no guarantee of return on their investment. There are many ways to invest in gold without breaking the bank and buying into risky schemes that promise quick profits at the expense of your hard-earned money (and sanity).
Don’t: Trust a salesperson who has nothing but high praise for their own company.
- Don’t trust a salesperson who has nothing but high praise for their own company.
A gold dealer should be able to tell you about the benefits of buying from them without having to say, “But we’re different.” If they have nothing but good things to say about the company’s reputation, customer service record and history of upholding standards of ethics and professionalism, then perhaps it is time for you to look elsewhere. A gold dealer should be able to provide references from previous clients who wish to speak with you directly about their experiences dealing with this particular dealer’s business practices–and if they won’t give out those names or numbers then perhaps that should raise some red flags as well!
Don’t: Let anyone rush you into a sale.
- Don’t let anyone rush you into a sale.
- If you’re not sure about something, ask questions.
- Negotiate the price and make sure it’s fair for everyone involved in the transaction (also see: “The Dos of Dealing with Gold Dealers”).
- If you still aren’t comfortable with the terms of your deal, walk away! There are plenty of other dealers out there who will be happy to work with you and give you exactly what YOU want/need out of your transaction experience with them, so don’t settle for less than what is right for YOU!
There are many things to consider when purchasing gold, so take some time to make sure that you’re making the best decision for you and your family.
There are many things to consider when purchasing gold, so take some time to make sure that you’re making the best decision for you and your family.
Gold is a good investment because it has historically been a safe-haven asset during times of market uncertainty. It’s also an attractive option for investors who want something other than stocks or bonds, but don’t have quite enough money in their budget to buy physical silver (which can be very expensive).
If you decide that investing in gold is right for your financial situation, then there are several things that we recommend doing before buying anything:
Conclusion
If you’re looking to invest in gold, it’s important to know what questions to ask and where to find answers. The dos and don’ts listed above will help give you an idea of what kind of dealer is right for your needs as well as how much money they can save you on fees and premiums. Remember that while buying gold is a great way to protect yourself against inflation or economic downturns, it’s not always an easy process–so be sure that whoever helps guide your decision making has their customers’ best interests at heart!