The popularity of precious metals has attracted millions of investors, large and small. You may be one of these--or you simply have some scrap gold or silver to sell. Some caution is in order when you buy or sell any precious metal. The allure of gold and silver is a magnet for scam artists. Fortunately, there are reliable ways to find legitimate gold and silver dealers.
Use The U.S. Mint Dealer Locator to find legitimate gold and silver dealers (link below). This online search provides addresses and contact information for dealers in every state. Most will buy as well as sell U.S. and foreign gold and silver coins and bars.
Guarantee legitimacy when you buy U.S. gold and silver coins by purchasing them directly from the U.S. Mint. You can open an account, shop online and be assured of purchasing legitimate and properly certified gold and silver coins (link below)
Find legitimate gold and silver dealers by checking the American Numismatic Association Dealer Listing (link below). This is especially helpful if you are buying or selling collectible coins. Many of these dealers also buy and sell investment coins and bars of precious metals.
Ask local jewelry or coin dealers to recommend a good assay/refining service in your area if you have raw or scrap gold and silver to sell. Check with your state Bureau of Land Management or Geological Service as well. In many states these agencies maintain lists of legitimate merchants.
Check with the Better Business Bureau in you area if you are not certain a dealer is legitimate.
Tips
Purchase only certified coins or bars when you're buying gold or silver. If the item's authenticity isn’t properly documented, look elsewhere.
Always know the current market prices and get quotes from several dealers. Legitimate dealers base pricing on the current market and charge reasonable percentages to cover their costs.
References
Tips
- Purchase only certified coins or bars when you're buying gold or silver. If the item's authenticity isn't properly documented, look elsewhere. Always know the current market prices and get quotes from several dealers. Legitimate dealers base pricing on the current market and charge reasonable percentages to cover their costs.
Writer Bio
Based in Atlanta, Georgia, W D Adkins has been writing professionally since 2008. He writes about business, personal finance and careers. Adkins holds master's degrees in history and sociology from Georgia State University. He became a member of the Society of Professional Journalists in 2009.