Why Buying Precious Metals from a Reputable Dealer Saves You Time & Money

Posted - December 7, 2022
Why Buying Precious Metals from a Reputable Dealer Saves You Time & Money

Do Your Due Diligence: Investing in Precious Metals Can Be Tricky

While it can seem a straightforward process, buying precious metals can be tricky and with the advent of the internet, it’s getting even moreso. Historically speaking, physical precious metals make for an easy investment but these days a lot of misinformation is floating about, and disreputable sellers abound at almost every turn. Therefore, it is highly recommended that you do your due diligence to find reputable dealers and get a real feel for the marketplace before you consider your investment. 

Why Should You Buy Precious Metals from a Reputable Dealer?

These days, many secondary and tertiary sales websites are selling gold and other precious metals online. Sites like eBay are allowing unaccredited sellers to push coins and bars for sale in the form of gold, silver and platinum. Are sites and sellers like these reliable?

To the quick, often not. eBay does have policies that work in favor of the buyer with terms that should prevent sellers from pushing dubious sales. Generally speaking, these eBayers are most likely good people who are selling off some family coins or bullion for the sake of a bit of quick cash. If you come across such a seller, be sure to check their rating and reputation as a vendor before considering their precious metals. 

However, unless you are dealing with a reputable dealer, not all sites and sellers are created equal. If a fraudulent seller surfaces on eBay and that seller is determined to be fraudulent, it’s most likely that the seller will simply be blocked, only to resurface under a new identity. In other words, fraud is not overly punished, and this only encourages rogue sellers to double down. 

Why Buying Precious Metals from a Reputable Dealer Saves You Time

While falling victim to deliberate, or indeliberate, fraud is a worst-case scenario, you must also consider the value of your time when looking to buy physical precious metals. That eBay coin you’ve been watching may have a lower premium than a reputable dealer, but have you invested the time to vet the seller? Are you aware of the seller’s return policy, if applicable, or do you even want to bother with it? Furthermore, have you invested the time into educating yourself on identifying authentic precious metals first from the limitation of online images followed by proving authenticity once in hand? 

Maybe precious metals are a hobby and you enjoy the chase of lowest-premium precious metals and have invested the time in identifying good sellers and being able to spot fakes to avoid being scammed. In this situation, you may also have a device to test precious metals such as a Sigma Metalytics. 

However, investing in precious metals is not just limited to hardcore hobbyists. When you buy precious metals from a reputable dealer you save time and are rewarded with 100% peace of mind that the physical precious metal you are buying is as described by the seller.

Consult Reputable Dealers Before Buying Precious Metals

Buying precious metals shouldn’t be like a game of Whac-A-Mole nor should it take a subject matter expert to avoid being scammed. We strongly recommend against the ‘buy on the fly’, hoping that you have yourself a worthy coin or bar. It’s only too easy to shop by dealer reputation as a priority and not get caught up chasing a coin, round or bar that may not be as detailed in a high-risk transaction.

After all, elite coins call for elite advice on how to properly invest in those precious metals. Reputable dealers can also advise on how to properly store your precious metals and when it might be a good time to sell as well. In other words, when it comes to precious metals, investors either have a lot to lose or a lot to gain and a proper dealer is often the best choice for navigating the windy seas of wins and losses. 

Putting your money to work only works if you’re not having to throw significant time at your precious metals investments. Precious metals should also be a fun savings opportunity for you and getting scammed is far from fun. Buying physical precious metals from a reputable dealer should be rule number one for both novices and veterans wanting to save time and have peace of mind with their purchases.

About The Author

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Hero Bullion provides an environment that is informative and safe for those looking to own physical gold and silver bullion as an investment. We love helping folks at all stages throughout their bullion journey making progress towards acheiving their financial goals. Whether you are a seasoned bullion investor or brand new to the game of gold and silver bullion ownership, we're here to help and serve you in any way we can.