How to Pick the Precious Metal Dealer That’s Right for You

If you want to jump into the exciting precious metal market, you must conduct business with someone you trust. However, finding a reliable gold and silver dealer that always has your best interests in mind is easier said than done. Luckily, there are some fantastic gold and silver dealers out there who can take your investments to new heights. Here are a few tips and tricks to help you find a precious metal dealer that’s right for you.

Choosing the Right Precious Metal Dealer

Precious metal dealers are more common than you might think. Pawnshop workers, jewelry dealers, and coin collectors all deal with precious metals like gold and silver. However, you probably don’t want to trust your local pawnshop worker with your investment strategies. Most reliable precious metal dealers are members of the Accredited Precious Metals Dealers (APMD), a program associated with the Professional Numismatists Guild (PNG).

The PNG, along with its associated organizations, is one of the most reputable organizations trading in precious metals. It has over six decades of industry experience and holds itself to a higher standard than most other institutions. Although the APMD began in 2015, it quickly became the most trusted precious metals group in the country. If your precious metal dealer isn’t a part of the PNG or APMD, you might want to consider looking elsewhere.

As stated before, the APMD holds itself at a higher standard than other precious metal organizations. Members must abide by a strict set of rules and have vast experience to even qualify as a member. The following are a few APMD regulations that all members must abide by.

  • Have expert knowledge in the precious metal market—not only in America but all over the world.
  • Be a prestigious member of the PNG that is highly reputable among their peers.
  • Undergo a strict background check that dives into their entire precious metal history.
  • Can settle legal disputes regarding precious metal sales, purchases, and trades.
  • Must follow the APMD Code of Ethics.

The APMD prohibits trading precious metals at irrational or excessive prices, ensuring their customers get a fair deal every time they obtain their services. The APMD also bans forceful or aggressive sales techniques and presenting deceptive performance data within the organization. Failure to uphold the APMD Code of Ethics results in immediate suspension, censure, or expulsion from both the APMD and the PNG.

Signs of an Undependable Precious Metal Dealer

red flags of an undependable precious metal dealers

It’s not always easy separating honest precious metal dealers from the unfaithful. Many disreputable gold and silver traders use misleading sales tactics to make it seem like they are respected dealers. Some offer outrageous deals to attract inexperienced investors, while others use deceitful television commercials to promote their organization.

Most APMD members do not resort to these tactics. Unbelievable prices and exaggerated TV ads are telltale signs of an undependable dealer. Many of these companies use telemarketing business strategies to push their product, violating the APMD Code of Ethics. It’s vital that you only conduct business with APMD or PNG members to avoid dishonest precious metal dealers and their scams.

Some people are wary of working with online gold and silver traders. Although there is more than a fair share of disreputable dealers online, there are still plenty of reliable ones associated with the APMD. Some even offer lower precious metal prices because they don’t pay for physical business spaces.

When looking for reliable online precious metal dealers, stay away from startup companies. Many provide unfathomable deals for first-time investors but rarely follow up on their promises. Try finding established companies that have a proven track record if you plan on investing with precious metal dealers online. It’s also a good idea to do a bit of research on current precious metal prices to avoid scams and disreputable dealers. If the deal seems too good to be true, it’s probably a sham.

Precious metal dealers with brick-and-mortar stores usually demand higher prices but allow customers to check out their products firsthand. Many long-time gold and silver buyers prefer physical dealers due to their increased sense of security, privacy, and ease of transaction. Many people believe online dealers aren’t as secure as traders in brick-and-mortar stores, thus putting their finances at risk. While online deals are more prone to security hacks, conducting business with physical dealers also has its perils. Always make sure you have a trusted and established dealer before giving them your business.

How to Check Whether the Investor is Reliable

Sometimes, new investors aren’t sure how to confirm a precious metal dealer’s credentials. They often gravitate to the best prices before checking whether the dealer is reliable. Unfortunately, many unreputable dealers lure in novice buyers with unbelievable prices only to take advantage of their limited knowledge. Below are a few tips that will help you differentiate dependable precious metal dealers from fraudulent or dishonest traders.

Read Customer Reviews

If you’re looking to enter the precious metal market, it’s always a good idea to research the gold and silver provider before committing to their services. Although verifying their APMD and PNG membership is the best way to check their dependability, reading over customer reviews is a viable way to see whether the dealer is dependable. There are countless review pages and websites that provide valuable information on precious metal dealers. Reading reviews is one of the best ways to find a gold and silver dealer that’s right for you.

Make Sure the Dealer Is Fully Transparent About Their Prices

When shopping around for trustworthy gold and silver traders, make sure they provide transparent prices. Every dealer should present the weight of the asset along with other valuable information that predicts its value. While this might sound obvious, many precious metal dealers attempt to hide vital info from novice investors to increase their profits.

As already mentioned, it’s common for subpar precious metal dealers to allure new investors with incredible deals on gold and silver. If you believe the deal is too good to be true, and the dealer refuses to provide the necessary information regarding its value, take your business elsewhere. Your precious metal trader must provide all the information you need before selling you gold and silver.

Check Their Selection

Another indication of a trustworthy precious metal dealer is the size of their selection. If they offer a wide range of precious metals and other associated products, they are probably well established in the industry. Dealers with a limited number of precious metals often just want to make a quick buck or have limited market knowledge. Keep this in mind when searching for a new gold and silver dealer.

Provides Dependable Shipping and Delivery

All trusted precious metal dealers provide reliable shipping information to their customers. They must include the proper tracking information and the expected delivery date upon purchase. This allows investors to track their gold or silver, ensuring the delivery runs smoothly. If the dealer refuses to give you the necessary shipping and delivery info, it’s best to cut ties with them and find a new trader.

What Is a Precious Metal Organization I Can Trust?

oxford gold group logo in yellow background

If you need a reliable team of gold and silver experts who always have your best interests in mind, look no further than the Oxford Gold Group. They are one of the leading precious metal organizations that’s qualified to help you with all your gold and silver needs. Their prices are second to none, ensuring you get the best deals every time you use their services. Their team provides excellent customer service and offers professional assistance to help you understand the exciting precious metal market.

Oxford Gold Group offers unique strategies that can help your gold and silver investments reach their full potential. They assess your wants and needs, tailoring an investment plan to your situation. Whether you’re a first-time gold and silver investor or a seasoned veteran, Oxford Gold Group can help you reach all your precious metal goals.

One of the best aspects of Oxford Gold Group is its commitment to ethical investments. You’ll never have to deal with pushy salesmen or deceptive business strategies. Our employees don’t receive a commission for any transaction, ensuring you aren’t pestered with irritating sales calls later down the line. We wants the best for our customers and will never press you for unnecessary investments.

If you want to get the most out of your precious metal investments, contact the Oxford Gold Group for our unmatched knowledge and professional investment strategies. We are fully transparent and always make the customers our number one priority. Investing in precious metals has never been easier, thanks to the Oxford Gold Group.

Don’t trust subpar precious metal organizations that only care about increasing their profits. Call Oxford Gold Group and take your gold and silver investments to incredible new heights. Let us help you today to get started on (or continue) your journey into the world of precious metals!

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