No “bait and switch” tactics
Reputable gold dealers will not try the ‘bait and switch’ manoeuvre on you, where they lure you into the shop with a supposed bargain on bullion coins and then try to steer you towards rather buying numismatic coins that have little investment value for you, but a high markup for them – needless to say, this is not a sign of a reputable gold dealer.
Do not promote leveraging
Less reputable dealers will encourage you to invest in other products, such as allocated gold shares, and then try to get you to use that investment to leverage the purchase of more gold. This can backfire badly if you need to sell your investments when the gold price is down.
Prompt delivery of physical gold
Reputable dealers have a stock of gold products in secure storage and can guarantee shipping or delivery of your order within 24 to 48 hours of your payment clearing.
Guaranteed Buyback Policy
A reputable dealer will guarantee to buy back at a future time any gold products they have sold to you, and you may get a better resale price if you sell through them. This is a clearcut sign of a reputable gold dealer. There may be a fee involved, so you should always ask for a copy of the buyback policy in writing.
