How to Find Gold Dealers
Gold is a hot investment, but with that comes troubled waters for investors. Many people jump into the gold market for the first time and this means scams run wild. Before buying any gold item, make sure the dealer is a trusted and respected. This will not provide you 100 percent protection, but should significantly lower the chances of being taken.
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Instructions
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Finding a gold dealer begins with a random act. Either searching the Internet or the yellow pages, most people find a gold dealer. This approach is fine, but before jumping to a dealer, make a list of those gold dealers you've located and begin researching them.
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Browse the name of each dealer online and look for reviews. If nothing comes up, call the dealer and ask specific questions, such as how much their premiums are, where the gold comes from and how long have they been dealing gold. Also, ask some questions you already know the answer to, such as the spot price of gold or premiums of American Gold Eagle. Compare their answer to what you already know.
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After picking a dealer, if you have a gold item that you know everything about, such as value, gold purity and history, for example, take it to the dealer. Have him look it over and see what he says. If his comments are questionable, turn around and walk out. Some may say this is a dirty trick, but gold is a big investment and investors must protect themselves.
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Talk to those that are currently invested in gold. It is likely that a friend, neighbor or family member has invested in gold. Talk to them and see where they purchased gold.
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Stick with the basic gold bullion coins. For those just starting out, keep to the American Gold Eagle and purchase it from the U.S. mint or local bank. This should help protect from getting scammed, but watch those premium prices closely.
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References
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