When you invest in the physical gold market, you take on all the risk of your investment decisions. No gold dealer can foresee the future, thus no gold dealer can guarantee anyone’s ability to profit from gold. You control the profit or loss of your investment after you make the purchase, although it can be helpful to work together with a reputable gold exchange. You can locate companies with excellent Better Business Bureau reputations at <ahref=”http://www.BBB.org” target=”_blank”>www.BBB.org, although ratings and complaint histories are subject to change without immediate notice to the public, and the BBB makes no guarantees about a company’s level of service or expertise in the gold market.
Each item in the gold market has a buy and sell spread, which on the discount level varies from 2-8% on gold bullion and 8-27% on PCGS certified rare coins. It is important to understand that some gold exchanges utilize commissioned employees while other utilize salaried employees, and keep in mind that firms with lots of television and radio advertisements, as well as celebrity sponsors, tend to have higher prices to cover those costs.
Make sure that you demand an account agreement from the gold dealer who facilitates your gold transaction, just as you would demand a contract for any other large financial move. These account agreements protect both the gold dealer and yourself, and they allow your gold broker to insure your gold until you sign for the confidential package at your door. By dealing with major gold exchanges, there is little chance that you will ever receive counterfeit gold bullion or certified coins, since elemental testing and numismatic grading is performed on all items that enter a company’s depository. However, account agreements will protect you if you do happen to receive anything less than what you expected.
For further details on the risks of the gold market and how to make the most of your investment, give us a call or request some of our free brochures below.
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