Wednesday, October 21, 2009

Where to Buy Gold

Deciding where to buy physical gold products is a very important decision. This article provides guidance to help you decide where to make gold purchases. The knowledge you need to find the best place for you to buy gold consists of general knowledge and knowledge specific to gold

Use the same common sense approach you use to make any major purchase. After determining exactly what you want to buy make a list of potential sellers. Write the seller’s details down. These details include the seller’s physical address, contact information, and web site address. Next, write a small set of criteria based on which you will select your top three sellers. Some criteria to consider are as follows. How long the company has been in business. Their terms and conditions related to payment procedures, return policy, and buying back. Recommendations from those you know and trust that have done business with the company. Find or make your own gold price comparisons for the items you want.

Use the Internet to search out any information you can find on others experience with the company. Don’t be afraid to call the company and tell them you are evaluating them and ask any questions you need answered. It is important to find a person at the company that will be your main contact. By this point you will be able to pick your top two or three companies.

One approach is to test your sellers buy making a small purchase from each of the selected sellers. Another approach is to make a purchase each month from a different seller. In any case, determine all the costs involved in each purchase including taxes, shipping and insurance before completing the transaction. Based on this experience you will have found some good companies to deal with. Ideally you will develop a long term relationship with a good company.

Here are some gold specific things to keep in mind when deciding where to buy gold. Look for coin shops near you that you can visit. Look at government and private Mints. eBay is an alternative suited to some. As gold becomes more popular you will see many more advertisements for gold products. Be very careful about these offerings and remember the process given above. If it seems too good to be true – it is!