The Complete Guide to Choosing a Gold Dealer: Everything to Know

choosing a gold dealer

Gold is an excellent investment choice due to it providing deflation protection, being a hedge against inflation, and much more. However, when investing in gold, it pays to be careful. Certain gold dealer options may be less than ideal. 

For tips on choosing a gold dealer of the highest quality, read on. 

Know the Current Gold Price 

When buying gold online, don’t forget to do proper research. Certain gold dealers will try to charge you far more than the current market price. If you know the current gold price, you won’t get cheated in this way. 

You should also be wary of charges that are far below the average market price. While dealers can sometimes charge these prices without any hidden schemes, such occurrences are rare. It’s far more likely that a lower price means an inferior product. 

Read Online Reviews, But Be Careful 

Reading online reviews can be a good way to distinguish low-quality gold dealers from high-quality ones. However, remember that plenty of immoral business owners can fake these reviews through several methods. 

The best way to avoid falling for these tricks is to go to review sites of higher quality. You’re more likely to find truthful reviews on well-respected sites such as the Better Business Bureau. 

Ask for Recommendations 

Asking people that you know and trust for recommendations should get you the best results. What if you don’t know anyone who’s into gold investment personally? The second-best option would be to look for individuals on gold investment-themed social media groups and forums.

Just be sure to do some extra research to make sure the gold dealer options either party suggests are reputable. 

Look for Signs of Professionalism 

A poorly-made website with no useful gold-buying tips is a good indicator of a scam gold dealing business. The same goes for a customer service representative that acts rudely toward potential customers. However, there are other signs of a bad gold dealer you should look out for that are more subtle. 

To start with, reputable gold dealers should be able to provide you with multiple forms of authentication. These can include the ability to test the gold and identify any relevant markings. Be sure to do further research if you’re uncertain of any of these authentications. 

You can also check to see if the dealer is licensed by a respected local authority. This isn’t a complete confirmation that a dealer is conducting a fair and honest business. It does, however, add to a business’s legitimacy.  

While You’re Choosing a Gold Dealer, Consider Us 

It will probably take some time for you to find a gold dealer that is up to a certain standard. Therefore, be patient and remind yourself that the high-quality service you receive will be worth it in the end. 

Also, while you’re choosing a gold dealer, consider us. Our brokers have a combined precious metals industry experience level of 60+ years. We also provide helpful staff, a user-friendly site, and an environment free of pressured sales. 

Call us when you’re ready to buy or sell your gold or other bullions.