Buying and selling gold bullion coins has become easier. There are different options that you can try from doing it over the phone, or going to an actual bullion dealer near you, or trying online dealers. There are advantages and disadvantages to each method.
Selling gold bullion over the phone
Buying and selling your bullion over the phone is easy, you just pick up the phone, dial a number and speak to someone at the other end. There are many gold dealers on the other end of the line will quote you a price for what you want to buy based on the current spot price of gold, they will add the premiums, shipping costs, and add insurance to the final cost. If you like the price that is being quoted you can lock it in by accepting it. When you lock your price in, you need to make the payment instantly or you could be charged a fee especially if there are market movements.
The gold dealer will issue you a purchase order or invoice confirming you have paid. Remember that most dealers do not accept credit card payments and definitely do not accept accept cheques. Most gold dealers will let you pay over a few days provided you make a part payment instantly. Make sure you understand how shipping works and the time it will take for a package to move from one point to another. Make sure that you get a tracking number as well or find out if they will send it with a security guard.
When you are buying, check if the dealer has a buy-back policy, and what the price would be should you decide to sell your bullion back to them. This makes selling your gold back easier and faster than having to go through the whole process of finding another reputable dealer who will offer you the best price when you are ready to liquidate.
One of the disadvantages of buying or selling gold over the phone is that some dealers aren’t forthcoming with information. Does your bullion dealer have a shop or a large inventory stock base?. If they don’t this means that you could be dealing with a small re-seller and you are dealing with someone you cannot see, conducting business in a location you cannot verify. For all you know, these gold dealers could be conducting business from his garage or the boot of his car.
Local Dealers
If dealing with a voice instead of an actual human being you can see, you might be more confident with the idea of dealing with local gold dealer in your area. You should know that by going into a gold dealers shop you cannot remain anonymous. However, this can enable you to form some sort of rapport even build a relationship and you will save on shipping or insurance by collecting it yourself. be careful of kiosks or pop-up gold dealers. These tend to be transitory and they tend to attract all kinds of quality levels and customer service.
Every business can virtually be found online. Some dealers conduct their business online which enables them to have a wider reach and offer more services. There might be a community of customers or gold enthusiasts who will share their experiences with a particular dealer, offer advice and information about the dealer, and everything you might need to know about gold.
