Avoid Gold and Silver Buying Mistakes

One of the biggest problems in the gold market are buying what is called “non-confiscatable gold”. At one point in time gold was confiscated by the government with demands for it. If this wasn’t followed people could be fined and go to jail. The reality is that laws can change. Don’t pay extra for this protection since in reality it doesn’t exist. Buy gold and silver at the best price per ounce and don’t worry about the confiscation.

Don’t buy when the price is high. Check to see when you can get a better deal. If the price has been a bit high that week, you might want to wait a few weeks until you get a lower price.

Shipping costs can really mess up your deal. You might get a coin that is a lower price than market value to only find that the shipping is actually higher than the cost of the coin. Many companies will charge a flat rate shipping if you get just one coin or a thousand coins. If the shipping is high, order more than just one.

Buy what you planned on buying. Many times you might get an awesome deal from an ad in the local paper for gold or silver coins. When you get to the store, there will be an upsell that’s not quite as good of a deal. Just buy the deal and be done with it.

Always get the silver and gold into your hands. Never buy it and hope that the company is storing for real. There have been scams over the year where the materials didn’t actually exist.