How Can You Choose The Best Gold Dealer - 5 Tips

Before you choose a gold dealer, you must first determine the type of gold investment you wish to make depending on your needs

. This is because, you must look for different attributes in gold dealers dealing with gold coins, scrap gold, junk gold, gold certificates and gold stock. If you are an investor planning on shorting gold by quick purchase turnarounds, you must look for a specialized gold dealer. Here are 5 tips on how to choose the best gold dealer -

1.If you are investing in gold bullion or collector coins, you must choose a dealer who has a variety of coins in different gold percentage and weight. Gold coins sold by online dealers are less expensive as compared to those sold by dealers in a physical shop. This is because shops attract overhead expenses which in turn are added on to the spot and strike prices of the coins.

2.There are many online gold dealers operating from different destinations around the world. If you purchase coins from any of them located in a different country, you will have to deal with currency exchange. This means, when you purchase gold, you will have to convert your country currency to the currency of the dealer abroad.

3.Similarly, purchasing gold bullion bars online offers you savings on the spot price. However, if you buy heavier gold bullion bars online from another country, you may face another drawback in the form of shipping costs. Your investment on these heavy gold bars will become more expensive. You are therefore better off purchasing gold bars from a local dealer.

4.While investing in gold, research and find out the level of reputation enjoyed by the gold dealer. Especially if you are dealing with one online, it is imperative to check the prospective gold dealer's reputation before any transaction. It is not difficult finding customer reviews of many gold dealers. Check to find out which dealer has the highest number of satisfied customers.

5.On most of the leading online gold dealers, you will find a clear cyber trail in case of in-person gold procurement. You will be faced with a few challenges other than reputation in case of brick and mortar dealers. For example, physical dealers face a limited competition in their geographic region. As they have to spend on overhead costs to store varieties of gold bullion, these dealers usually have a limited collection.

Consider the above few aspects before you decide on a physical or online gold dealer for your gold investment requirements.

by: Adrian Getty

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