If you have made the decision to invest in gold bullion coins it is likely you will stick with the American Gold Eagle or American Buffalo bullion coins. They are two of the most recognizable bullion coins and are easy to acquire. Once you know what coins to invest in, Silver Monthly says there are certain steps you should take when choosing an online dealer to buy gold bullion coins from. The steps are primarily common sense tips, but are indeed worth mentioning.
First, choose a bona fide coin dealer. Simply choosing the first dealer you come to on the Internet is not a good way to choose a dealer. If you live in the United States you must purchase from a dealer, because the US mint does not sell bullion coins directly to the public. Make sure the broker you choose has been in business a long time, because longevity indicates they are reliable and trustworthy. For example, Monex.com has been in business for over 40 years.
Second, make sure the dealer you choose offers a real address on their website. However, this is not enough to choose a dealer because some scam artists will use a phony address that appears to be real. Check online forums for their reputation. Other investors will let you know if the dealer can be trusted, or not.
Third, Make sure they have a toll free number listed on their website, and then call their representatives. In other words, make sure they know what they are talking about. Ask them if they offer a return policy in case you aren’t satisfied. Legitimate firms will go the extra mile to ensure you are satisfied with your experience.
Goldsilver.com says you should shop around for the best dealer. However this does not necessarily mean you choose the lowest price. Service and quality of product, with reasonable pricing is the best way to proceed. In addition, make sure you inquire about commissions and fees. Corrupt dealers may add hidden fees, and these can become quite expensive. Do your due diligence and make sure you are dealing with a legitimate broker.
One useful website to check before buying from a dealer is ripoff.com. They even offer a search feature to help you find businesses you have questions about. The Ripoff Report is a global reporting agency for consumers. It allows average people to file complaints against firms that don’t play by the rules, and allows others to make a judgment call on whether to do business with a questionable firm. They ask that you use common sense when reading the reports, and make an informed decision.
Once you have your dealer in place you must determine what your investing goals are. For example, if you a large investor and you intend to hold your gold for a long time you might be better served buying gold bullion bars, because you will save money going this route. However, bars are not nearly as liquid as bullion coins are. If you expect to hold onto the gold for only a short while then coins are easier to sell.