Keep the following tips in mind when you are in the market for gold, silver, or platinum bullion.
Step 1: Investigate the dealer Investigate any dealer of precious metal bullion that you plan to work with. Find out if they are certified, how long they have been in the profession, and which part of the market they specialize in.
TIP: Make sure you understand the risks associated with your potential investment.
Step 2: Check investment options Familiarize yourself with your investment options. Bullion can be purchased in the form of coins, bars and certificates.
Step 3: Research current prices Research the current cost of any bullion you plan to buy. Gold, silver, and platinum prices fluctuate daily.
Step 4: Research fees and commissions Familiarize yourself with the fees and commissions charged in precious metal bullion transactions.
Step 5: Obtain a confirmation Obtain written confirmation from the seller about the delivery date before you make a purchase. Now that you have done your homework, you can go ahead and place your order.
FACT: Gold is the least chemically reactive of all metals.