Which gold dealers can I trust?
"Study the market carefully to avoid falling victim to high-pressure sales tactics," warns Greg Abbott, the Texas State Attorney, in his 2007 report into gold dealers.
Abbott's investigation of gold dealers' sharp practices found that US consumers - "particularly senior citizens" - had been tricked into buying gold coins for up to three times their fair market value. Gold dealers would simply used the word 'rare' to bump up the sale price.
'Rare' (numismatic) coins - are probably best left to knowledgeable collectors. Gold bullion is the way to buy gold for its intrinsic metallic value - and it's dead easy to follow the true value of it, which means you won't get cheated by the gold dealers.
But even most bullion can suffer from mark-ups of a pricey 8%. Nowadays most well informed buyers choose gold dealers which let them avoid even the 8% mark-up associated with small bars, and coins, and get down to professional market mark-ups of as little as 1% - here's how.
Avoid High-Pressure Gold Dealers with BullionVault.com
BullionVault (contact us) is a company that aims to get you gold for a mark-up of less than 1%. We do absolutely no high-pressure selling. In fact we don't even employ a single salesperson. Instead we try to provide you with a lot of well-balanced, on-line information - completely free, for you to read at your leisure.
When you're well informed then you will be able to choose the best gold dealers based on safety, accessibility and value. You'll be pleased to know that your safest option will also turn out to your cheapest option.
We'd like you to assess the choice of gold dealers for yourself, so we've put some important links for you at the bottom of this page. As a starting point this link will explain BullionVault to you, and introduce you fairly to your other alternative gold dealers.
This link will let you see what other BullionVault users have said when comparing BullionVault to other gold dealers.
And you can also go straight to our getting started guide. You'll see from this guide that we give 4 free grams of silver to everyone who registers on the BullionVault site. Can you find other gold dealers with the confidence to do that?
Google can find you the best gold dealers
You don't need to take our word for it. Google can find you gold dealers, although finding them on the web requires a little extra Google expertise. Don't worry though, we've done all the work for you by setting up an automatic advanced search which filters out the rubbish ...
- You want gold dealers described as gold traders, or gold dealers, or gold brokers. You do not want a general commodities dealer because they'll only deal in gold futures. You cannot buy physical gold from any commodities trader we know about.
- You want coin or bullion bar gold dealers, but to avoid numismatics and antiques.
- You want to avoid jewelry. Jewelry is a retail business in which gold can be marked up by several hundred percent. Only buy jewelry for its artistic merit, never for its intrinsic gold value!
- You want to avoid World Of Warcraft gold. World of Warcraft 'WoW' is a very popular internet game which uses pretend gold credits as the game's currency, so if you search for gold dealers without excluding 'WoW' you'll get one who'll sell you fake gold for your real money. All very well for gamers, but not candidate gold dealers for proper investors.
- You want to avoid futures brokers. These are ten-a-penny and get in the way of the actual bullion gold dealers out there. (If you'd like to find gold futures brokers do this search)
- Plain 'Gold' brings up lots of radio stations as 'Gold' seems to be a label for golden oldies. Exclude 'music'.
Relevant Market Analysis
- BullionVault's own current analysis is an up to date index of gold stories published by BullionVault's own research staff.
- BullionVault's analyst forum is an up to date and selected collection of work by of the best brains in the gold sector.
If you're really looking for gold dealers to deal with today then even if you've a good reason ultimately not to choose BullionVault we're convinced you won't regret reading this explanation of how the bullion markets work.