5. Not Checking Dealer Experience & Reputation
Choose to deal with the ones with plenty of experience in the industry. Find dealers with repeat customers because buyers won’t return if they receive bad service or negative experience from a dealer.
Online forums about investing in gold and other precious metals are one of the best places to get information. You can research potential companies, dealers and investments by asking other players in the field. Many forums also post warnings about scammers, so you can avoid these companies and dealers.
You should check the NFA database to get the regulatory history of your dealer. You can see if they have a license, a sanction or even if the NFA has banned them from doing business. If your dealer is not there, that’s even more worrisome – just be very careful who you give your money to.
You may also want to visit the Better Business Bureau. Verify if they appear on their list, how long they have been doing business, their ratings and how good the reviews are.
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