Almost 11 percent of Americans own gold, while almost 12 percent own silver. Investing in precious metals can be a great way to bolster your investment portfolio. One reason these investments are popular is that unlike stocks and other types of investments, gold and silver are tangible items that you can hold in your hands.
Whether you’ve already invested in previous metals or are thinking about getting started, one important step is finding the right dealer. Keep reading to learn three tips to help you find a trustworthy precious metal dealer.
1. Consider an Online Precious Metal Dealer
An increasing number of shoppers are turning to the web when searching for a new metal dealer. While buying in person from a traditional store might be a good way to see pieces in person, it comes with some drawbacks.
First, the selection is limited to what is in store. Depending on where you are located, you could have just a single location to choose from when buying gold or silver.
Another drawback to shopping local is that you’re left to decide whether or not you think you’re getting the best price. With no options to compare the selection to, you’ll need to make this decision based solely on your own knowledge of prices.
Shopping online helps you to avoid both of these struggles. Not only will you have a much larger selection of precious metals to choose from, but you’ll also be able to easily compare prices to make sure that you’re getting a good deal.
2. Check the Prices
When it comes to buying precious metals, one of the most important details is price. This is especially true when you’re buying silver or gold as an investment. While gold and silver can add some investment security to your portfolio, the last thing you want is to discover that you’ve overpaid for that investment.
While selection is important as well (more on that later), price is often the deciding factor when making a purchase.
If you’re searching for a new precious metals dealer, you’ll want to check out their prices for a variety of items. Then, compare those prices with other reputable retailers to see whether they are competitive.
A reputable precious metal dealer will also provide a straightforward breakdown of current prices to make it easy for you to make smart purchases.
3. Browse the Selection
The final thing to consider when choosing a trustworthy precious metal dealer is the selection. While price is important, if you’re very limited in the selection of products from one dealer, you might not find exactly what you’re looking for.
Exactly what represents a good selection will vary from one investor to the next, based on what you prefer to buy. For instance, one investor might prefer to buy gold coins, while another prefers gold bars. Don’t assume that a retailer has what you’re looking for; make sure to check out their selection for yourself.
Choosing a Trustworthy Precious Metal Dealer
Now that you know a few tips for narrowing down your options, it’s time to choose a trustworthy precious metal dealer.
CMI Gold & Silver is one of the nation’s oldest gold and silver dealers. While located in Arizona, the retailer also offers online shopping for investors across the country and around the globe. If you’re looking for a new precious metals dealer, check out our selection today.