Monday, January 8th, 2018

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How to Avoid Getting Ripped-Off When Buying Gold & Silver Bullion Coins?

Nowadays, investing in gold or silver bullion has become a new trend among many people. Numerous people are investing their money in buying bullion. In fact, it is being considered that investing in bullion is a great a great way of diversifying the risk. Studies have showed that before one goes ahead to buy gold bullion or silver bullion, one should always try to research their options. Taking any step without proper knowledge can prove to be highly harmful.


Need To Be Bit Careful

Many people boast of getting a good bargain on their silver of gold coins or bars. However, while investing in any kind of bullion, one needs to be very careful about it. This is because one might end up paying more than the actual price for the bullion.

In this respect, it can be said that while buying a gold or silver bullion coin, one needs to remain aware of the originality. They must check if they are paying the right amount for an original item and not for a wrong item.

Remaining Aware Of Fake Bullion Coins

If you have made up your mind to buy gold bullion, you remain 100% sure about its authenticity. Even though the mint companies go up to great extent in order to design the coins which could not be easily replicated, but studies have shown that fake coins of American Gold Eagles are easy to find. In fact, there have been cases where many fake coins have ended up in the inventory of reputable bullion dealers.

If you buy silver or gold bullion coin and bars from reputable dealers, the chance of getting hold of a fake government minted coin is less possible. However, while buying from sites like eBay or Craigslist, one will need to be very careful.

gold bullion online

Is The Bullion Fake?

When one buy gold bullion coin or bar, one can easily understand if it’s fake or not, simply by taking a look at the following points. They are:

  • One is able to buy it for less than the value of the precious metal.
  • In case the bullion seems to be very light weight. For instance, gold being precious is heavy and if it is light in weight then it only contains a coating of gold.
  • The dimension of the bullion is slightly awkward. When you buy gold bullion you will need to check the diameter. If it’s larger than its usual length then it’s not made up of gold.
  • If the bullion attaches to a magnet, then it’s a fake one.

Safest Place

When you have made up your mind to buy silver or gold bullion bar, go to an authorized dealer. You can safely buy from them and don’t have to worry about its weight or other things. Your purchase would be a genuine one and your money won’t go into waste.

It is important that when you buy gold bullion, you might feel tempted by fancy deals. These deals are on fake coins and you will end up losing your valuable money. Here are 5 important tips to put in mind while buying gold online!