How to Avoid Gold Bullion Scam Artists
A savvy investor realizes about ten percent of a good portfolio includes gold bullion. Buying gold from a legitimate source is an important part of this solid decision. There are several ways to avoid scam artists trying to sell something less than solid gold bullion.
The Gold Rush and Beyond
For generations, Americans have been lured by the prospect of gold. The suspicion of gold in California caused men to leave their families behind during the Gold Rush in the mid-1800s. Today people are still enraptured by the thought of getting gold for an amazing price. This type of enthusiasm is what scam artists bank on. If an offer sounds too good to be true, it usually is. Steer clear of the Gold Rush mentality and make rational buying decisions about gold bullion.
Infomercials and Online Ads
Infomercials on television and popup ads online grab attention. They catch someone when they least expect it. Usually these ads are looking to lure impulse buyers. Often time is of the essence to make a wise investment. Catchy ads encourage buyers to take action right away. This leads to a hurried mentality, leaving little room for deliberation. Nobody wants to miss out on an incredible deal on gold bullion. However, it involves some time and research to verify the deal is as great as it seems. Avoid making impulsive purchases that only benefit scam artists.
Internet Forums and Classified Ads
Other places where scam artists gather are online forums and classified ads. These misleading sellers convince people they have once-in-a-lifetime offers or specialized knowledge about cheap gold bullion. The reality is the buyer gets stuck with fake gold or something less than they bargained for. The seller disappears in the night and the buyer loses money on the deal.
The Pawn Shop Around the Corner
While the people who run the pawn shop around the corner might not be crooks, they do not have resources to offer the best deals. Their inventory is typically low with a slow turnover. They also have to cover the cost of overhead for the pawn shop. They are looking to make the highest possible profit on gold bullion. Buyers wind up paying top dollar for gold they could have purchased elsewhere for less.
Online Gold and Silver Dealers
Legitimate online gold and silver dealers offer the most competitive prices on gold bullion. Do research to verify the reputation of the dealer before making a purchase. Buying from an online dealer is a quick, convenient way to get the best prices on gold bullion.