Investing in precious metals like silver is a smart way for investors to diversify their portfolios. There’s the easy entry into the market, almost zero to no worry about inflation.
Precious metals are also a formidable investment choice.
One of the pressing concerns investors have, however, is choosing the right silver dealer. Some make the mistake of choosing the first dealer who pops up in the search engine results.
If you’re wondering how to find a silver dealer you can trust, keep reading. Here are seven tips for choosing a reliable silver dealer.
1. Check Their Resume
It’s not smart to take investment advice from a 3-years old, so why buy silver from someone who started selling it yesterday. Before you invest a dime in the market, check the company’s resume.
Do some research to find out how long the dealer has been in business. Also, ask for a copy of the company’s portfolio to see if they’ve done business with any reputable entities.
2. Are They Online or Local?
Investing in silver isn’t a light decision, so why not have a dealer who’s accessible. Find out if the dealer is local or online. Some dealers do a lot of business online, but they also have local brick-and-mortar establishments.
Other dealers operate strictly online, serving their clients through video conferencing and apps.
3. Fair Pricing
As the economy continues to recover, businesses are doing all they can to create income, including price gouging. Make sure you choose a dealer who has fair pricing.
Ensure they’re offering silver at fair market prices and not overpricing just for profit’s sake.
A good dealer behaves like a one-stop shop for silver needs. Ask to see the dealer’s entire silver collection.
Make sure your dealer has a nice selection of bars and coins. Verify the shipping. A dealer with a good selection normally ships within 48 to 72 hours.
5. Hidden Fees
Clients often form a business relationship with dealers without addressing the elephant in the room. Hidden Fees! Ask the dealer for a list of fees.
Make certain of the fairness of the fees before continuing the relationship. If a fee seems questionable, ask the dealer for an explanation.
5. Check Out their Reputation
All businesses have a reputation. Refrain from buying from dealers with a bad business reputation. Look into their business relationships.
Check online reviews and hashtags on social media to see what former investors and customers have to say. Sites like the Commodities Future Trading Commission keep track of gold and silver schemes.
The CFTC also provides information about laws and regulations dealers are required to follow.
Choose A Silver Dealer
When you buy precious metals, you have complete control over your investment. You own it. Choose a reputable silver dealer who has the resources you need to make your investment grow.
Let us be your dealer of choice. Call us today to find out more about how to buy and sell gold and silver.