It's important to be careful when buying gold coins since scams are common. You should only purchase coins from a reliable seller who has been in the business for a while.
There are thousands of dealers out there but not all might be genuine. Plus, there are several other options to buy gold coins including auctions, coin clubs, online stores, and private sellers.
Here are a few things to keep in mind when buying gold coins so that you get exactly what you pay for:
Confirm The Dealer is Authentic
The best way to confirm authenticity is to do some research and ask questions such as:
- What licenses or registration do you hold?
- For how long have you been in the business?
- What's your address?
- Do you have a return policy?
A dealer who can confidently answer these questions is typically safe to work with. However, make sure to verify the information provided to you.
Be Extra Careful About Auctions
Online stores like eBay can be a good option to buy gold coins but they don?t come without risks. Here's how to be safe:
- Check reviews. We suggest that you stay away from sellers with no or poor reviews.
- Check the seller?s and the store?s return policy. Make sure your purchase is covered.
Physical auctions can be a little easy to deal with as the exhibitors usually perform due diligence. Still, to be on the same side, verify the information and double check details.
Collectors of rare gold coins can look at Sotherbys. Get in touch with the company to know more about the latest auctions.
Purchasing from a Private Seller
This one boils down to trust and faith. Think about how well and how you know the seller.
You can hire the services of an Escrow provider to ensure you don?t get cheated. You might have to pay a small fee for Escrow services but it's typically worth the money.
Make sure to be careful when buying gold coins. Compare all your options and pick a reliable seller that offers good prices.