We had the pleasure of meeting with a customer this afternoon who found some of our previous guidelines on how to select silver coin dealers to be helpful. While we thought we covered most of the basics in some of our previous articles, she brought to our attention a few additional issues that we felt were worth sharing with our customer base.
To begin with, our customer felt somewhat uncomfortable in her surroundings. This is something that we haven’t touched on in the past, but it’s vital that you feel comfortable while conducting business, especially when you’re dealing with high dollar items, such as gold, silver and platinum coins, bars, and bullion. This not only includes the place of business, but also the part of town in which the office or store is located.
Secondly, we recommend that you never allow your coins, bars, rounds and ingots to leave your site until the transaction is complete. In this individual’s particular situation, the silver buyer brought the customer’s bullion to the back room and surfaced a couple of minutes later with a quote. While it’s your hope that no one would attempt to swap out your items with something less valuable, the only way to prevent this from happening is to keep your coin and bullion within eyesight.
Thirdly, the silver coin and bullion dealer initially provided this individual with a low ball offer and made three subsequent offers after further analyzing the item in an attempt to purchase the item at less than its full value. This type of behavior isn’t consistent with ethical business practices, and should be avoided at all costs. If you happen to receive an offer that is well below the value of your item, don’t give the coin dealer an opportunity to make another low ball counter offer. Rather, you should seek to do business with a bullion and coin dealer that is transparent with respect to their buying rates, so you know in advance what to expect for your valuables.
In summary, if you’re uncomfortable with your surroundings, if the bullion or coin dealer attempts to remove the valuables from your sight, or if they offer you a low ball offer, you should immediately leave their place of business and seek to do business with an ethical business that is willing to treat your fairly. We hope that you found this article helpful, and welcome you to contact Atlanta Gold & Coin Buyers if we can be of any assistance.