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3 Tips for Finding a Trustworthy Precious Metal Dealer

precious metal dealer

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 a National Precious Metal Dealer

An increasing number of shoppers are turning to the web when searching for a new precious metals 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 and what is available in the particular store. With nationwide firms, you have a much larger selection of precious metals to choose from, and you’ll be able to easily compare prices to make sure that you’re getting a good deal.

Whether local or nationwide, when considering a firm to partner with, it’s best to work with a company that provides personalized assistance over the phone or through messaging. Speaking directly to a specialized precious metals broker will allow you to ask questions and gain insightful information to help you make informed decisions that align with your investment strategies. A good sign that a company has your best interest in mind is if they employ non-commission brokers. This business model ensures that the representatives are not pressured to push high-premium products, but instead take the time to assess your needs and offer appropriate options that benefit you.

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. Be sure to compare the premiums or fees that are added on top of the current spot price for precious metals.

If you’re searching for a new precious metals dealer, you’ll want to check out their prices and premiums 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.

4 Responses to “3 Tips for Finding a Trustworthy Precious Metal Dealer”

  1. eBullion Pvt Ltd.

    Finding a trustworthy dealer has always been a top priority for people looking for a trustworthy precious metal dealer. Your insightful article provided practical tips that will help fellow enthusiasts confidently navigate this complex market. With transparency, industry experience, and customer reviews as guiding factors, People will feel equipped to make informed decisions when selecting a precious metal dealer. Thank you for shedding light on this crucial aspect of investing in precious metals!

    • Johnny Estes

      Thank you for your kind words.

      We have been in business since 1973 and have enjoyed a long standing tradition of helping folks navigate the pitfalls of investing in precious metals. Please also see an article that the owner, Bill Haynes, authored years ago.

      Myths, Misunderstandings & Outright Lies


  2. Gary Border

    Im a past customer.

    How do you calculate the buy and sell margin? I’m sure it’s calculated against the spot gold price. by the time I buy and sell an ounce of gold what is the combined margin? Gold Coins? 1000 gram gold bars? Silver coins (monster box?)


    • Johnny Estes

      Dear Gary,

      In the realm of commodities, a spread exists, much like in any other trade. Similarly, investments come with associated buying and selling fees. Our approach involves taking the cost of goods and applying a consistent margin to each product. Typically, you can anticipate a spread ranging from 2% to 7% for gold and $2.50 to $8.00 for silver across various products, contingent on the refining or manufacturing expenses.

      It’s worth noting that these spreads pertain to low margin bullion, which we strongly recommend. To gain a clearer understanding of the spreads applicable to specific products, we encourage you to reach out to us at (800) 528-1380 and engage in a conversation with one of our non-commissioned brokers.

      Thank you for your inquiry.

      Best regards,


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