When deciding to purchase gold bullion, be sure to only buy from a trusted, well-established gold dealer. Many fraudulent gold companies exist to swindle people, but you can avoid them by only investing in physical bullion you can hold and verify. Paper gold investments are not worth the risk, as they can be stolen or lost when companies that sell them go bankrupt.
You may also want to consult with an investment counselor or financial advisor before buying gold. They can help you understand the nuances of gold trading and assist with forming a solid investment strategy that includes physical bullion. This is especially important for new investors who are unfamiliar with the market and how gold fits into their investment portfolios.
Some of the red flags to watch out for when purchasing gold are fairly obvious: You should never be asked to pay for shipping or handling fees, and you should always have access to your metals when you’re making a transaction. You should also avoid being rushed into a deal. If you’re unsure about any aspect of the transaction, or it seems suspicious in any way, call the dealer to confirm or walk away.
If you’re looking to sell gold, be aware that the most reputable buyers only focus on the actual value of the piece. They’re not interested in the craftsmanship or history of a particular piece, so you won’t get as much cash for an older vintage piece as you would a modern one.
It’s also best to avoid giving out personal information over the phone or text, such as your pet’s name, date of birth, or any other detail that could help scammers gain your trust. Likewise, you should never reply to an unexpected email from someone, even to say no – this lets them know your account is active.
The most valuable tip for dealing with gold is to make a list of possible sellers and compare them. This will save you time when searching for the best prices and ensuring you’re working with a trustworthy seller. The list should include all of their contact information, a physical address, website, and email address.
Once you’ve compiled your list, take a test run by calling and visiting the companies to see how they do on the phone and in person. If you’re comfortable with them, it may be a good idea to place a small order with each of them so that you can gauge how they’ll do throughout the process. After this, you can choose the company that’s right for you and begin your Harrisburg gold buying and selling journey with peace of mind.