Does the dealer have a privacy statement stating they will not sell your data?
Your data is valuable. Most bullion companies are targeted by data brokers who offer $25 for each customers’ data. We’ve never done that, but if you’re in a highly competitive industry, there are some companies who wouldn’t flinch at accepting that offer. Although you could create a fake email for each bullion account, you’d need some sort of real data to get your physical gold or silver to you. The best way to determine if a company sells your data is by looking at their privacy policy and consumer complaints online.
Does the dealer ship gold/silver discreetly?
Nothing is more infuriating than receiving an order and having something written on the package like “Your best source for Gold and Silver”. Nothing screams steal me more than that. It’s understanding that it’s cheap advertising for the company, but no one wants their neighbors or postman knowing where Fort Knox is in the neighborhood.
Does the dealer have a price-match guarantee?
If you want the best price around, this is the key factor to consider. Given that the competitor is legitimate, and the product isn’t a loss-leader, prices can always be matched or beaten. To reduce your exposure to a company selling your information, find the best dealer who also offers a price match to guarantee in order to get the best bang for your buck. Be sure to do your due-diligence though. A customer told us that he asked their regular bullion dealer if they’d match our prices, despite him paying for a VIP membership with a price match guarantee, they refused to match our prices.
Does the dealer have advertised buyback prices that are reasonable?
You wouldn’t buy a silver coin for $28 and sell it back for $20 right? Believe it or not, there are some companies that are no better than your neighborhood pawn shop. Generally, people don’t sell unless they absolutely need the cash and need it fast. Some bullion companies know this and will offer you substantially less than it should be sold for. This is why you should choose a bullion company that has transparent buyback prices posted on their website. Call a few companies and see how much they’d buy your silver rounds for, you might be surprised with what you find.
Does the dealer insure their packages (if they do, what are the terms?)
Out of 10,000 packages sent out, at least one gets lost. It’s important know if a bullion dealer has an insurance policy and what the terms of the policy are. The policy should cover the following:
- How long until a claim can be filed?
- How long does the claim take?
- After the claim gets processed, can you get a replacement shipped?