The rising price of gold and silver and the state of world economics has created a whole new group of investors who are adding precious metals to their investment portfolio, as a hedge against inflation or a possible market collapse.
This boom in the market has caused a boom in online gold dealers giving investors many more choices. Along with more choices, comes both opportunity and the potential for trouble. Intelligent investors take the time to do their research and when they do, they will discover widely varying prices, differences in customer service and advertising strategies.
Some gold and silver dealers advertise heavily online. Among these are Lear Capital, Goldline International, Rosland Capital and Merit Financial. However, when considering who to do business with, remember, someone has to pay for all those advertisements and that someone is the folks who buy their products. As a result, many of the biggest advertisers, with one noteworthy exception, also charge the highest prices.
Some gold dealers employ aggressive sales tactics and others try to steer potential customers into the higher margined investments such as numismatic coins claiming they have a higher profit potential… a theory we don’t subscribe to.
Another difference between gold and silver dealers is found in how long it takes them to get a buyer their gold or silver. Some online gold and silver dealers ship product the next day and others can take up to 2 weeks before getting the product in the mail.
We also found it interesting that the exact same amount of gold or silver can cost differing amount depending on the form it’s purchased in. For example. One ounce bars of gold are less than a one ounce American Gold Eagle coin and the 1 ounce American Gold Eagle coin usually costs less than the one ounce American Buffalo gold coin. So keep this in mind when looking to acquire gold and make the choice that suits you best.
In addition to the major sales groups, there are some smaller dealers that, while still very credible, can offer their customers a much more personal and higher quality of service. Of course, they don’t have sales staff ready to serve you 24 hours a day but they also don’t have t