Purchasing From A Reputable Dealer

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Whether you are buying or selling precious metals, one crucial factor can be the deciding point that makes or breaks your investment – the dealer.  A simple lack of judgment can have substantial consequences if you are not careful.  Unfortunately, there are many dealers and private sellers out there who are looking to take advantage of those who are not armed with knowledge about the industry.

Protecting your precious metals investment is not a difficult task; it just requires that you take some necessary precautions before you make any hasty decisions.  By following a few simple rules, you can drastically reduce the chance of getting ripped off.

The first and most important rule is to always be 100% confident in the person or company who you are doing business with.  If you have any sort of hesitation, there is probably a reason.  It can be easy to get drawn in by a low price or other attractive deal, but when it comes to investing in precious metals, what you see is not always what you get. 

Because precious metals are so liquid, there is no need for dealers to offer substantial discounts.  If you see something below spot price, you should definitely be concerned.  There are plenty of people out there who are willing to pay full price for an item, so any markdown should be carefully scrutinized.

The internet is a superb resource for learning about various dealers.  You can go on websites where customers review their experience.  You can also go on respected precious metals forums and get advice from seasoned precious metals investors who can offer their first-hand experiences.  If you are willing to do a little digging, it is easy to separate the wheat from the chaff.

If you are selling your precious metals, the same principles apply.  It is far too easy to simply sell to the first dealer who makes you an offer.  You should always make sure you know exactly what your item is worth, and what multiple dealers will give you for it.  A little bit of research is essential if you want to get the most out of your investment.

Coins and bars are often a target for counterfeiters, due to the low size to value ratio.  If you are buying online from an auction site, or from a disreputable dealer, you can’t be sure of the authenticity of the product.  There is also unlikely to be any recourse if a fraud is discovered.  When you do business with an established, reputable company like Monex, you never have to hesitate.

As you browse the inventory, you will see that Monex platinum, gold, silver, and palladium are all priced fairly, according to the current spot price.  You will never have to wonder if you are getting taken for a ride.  Monex has earned their unblemished reputation by consistently providing premium service.

Whether you want to make an investment or just ask a few questions, Monex’s expert staff is always available.  With over 40 years in the business, you can feel confident buying or selling.  As you can see, avoiding disreputable precious metal dealers simply takes a little bit of effort and awareness.