When buying precious metals, it is absolutely essential to choose a dealer you can trust. There are many unscrupulous individuals looking to take advantage of the inexperienced and unwary, so those who are new to this market must exercise caution. Some of the key characteristics that you should look for are a dealer that is reputable, experienced and who you can count on when and if a problem occurs. Below are some additional factors to consider.

Does The Dealer Have Extensive Assets?

Precious metals dealers that lack extensive assets are at risk of going out of business. While most of the coins available on the market are authentic, fakes do turn up from time to time, and when this happens you need to be certain that the dealer will be around to rectify the problem.

Does The Dealer Have Insurance?

A considerable number of precious metals dealers do not have insurance. This goes for both their transportation of the metals as well as their inventory. Under no circumstances should you be doing business with such an institution. Both the inventory and transport of the metals should always be insured against theft and loss as this safeguards your transaction.

Is The Dealer Listed In The Better Business Bureau?

The BBB is an American based business directory which lists businesses from a variety of industries with a grade that rates their performance. Any coin dealer based in the U.S. who is not listed in this directory should be regarded with suspicion, and you should avoid buying from any business which has a grade lower than B.

Is The Dealer Respected And Well Known?

Look for dealers that are well known and or a member of an association. The most prominent precious metals associations are the American Numismatics Association, the Professional Numismatists Guild, and the Industry Council for Tangible Assets.

How Does The Dealer Respond When Something Goes Wrong?

The true test of a business’s customer service is not when things go right, but how they respond when things go wrong. For instance, dealers who are members of the ANA must accept binding arbitration in the event of a dispute. This is extremely important when buying costly coins, because if there is a disagreement or the shipment is lost, you can avoid the headaches which result from filing suits or complaints. Only do business with dealers that have a history of resolving disputes in an effective manner.

Does The Dealer Have A Code Of Ethics?

The most reputable dealers will have a code of ethics that they adhere to at all times. This is a requirement of ANA members and it shows that the business has respect for its clients. An ethical precious metals dealer is one who presents their products in a fair manner with the correct grade. Finally, the most reputable dealers will be well reviewed, and their reviews overall should be positive. By following these tips you should find a dealer who will supply you with quality coins for many years to come.