Is it safe to buy gold and silver online? Buying gold and silver online for the first time can be quite an intimidating experience, so is it safe?
Sending money to somebody you don’t know in the good faith that they will send your precious metal or silver back sounds risky to some people – but is it safe?
It’s a fair question, one worth considering before making any purchase from another site besides big corporate sites such as Amazon for example.
In fact, buying gold and silver from a company you don’t know in the first place might make many people uncomfortable.
So, is it is actually safe to buy gold and silver online?
The short answer is yes.
It is safe to buy gold and silver online but you do have to do a little bit of research and a few checks beforehand.
There are countless dealers out there that have been selling for years to customers that have never had an issue with lost funds or damaged product.
Buying gold and silver online is safe, provided you are buying from a legitimate company.
Here are some tips to keep in mind when shopping for gold and silver online that will help ensure peace of mind with your purchase.
1) Research the Company You Are Dealing With
This should be obvious, but it’s easy to forget when making purchases online. Always do your research on the company you are considering buying from.
Look them up on trusted sites such as this one (www.goldandsilveruk.co.uk), read reviews, and check their customer service history to ensure they have a good track record.
Some of the biggest names in precious metals have some of the worst customer satisfaction ratings out there due to high prices and difficult after-sales experiences.
While most companies will never have an issue with their product, it’s still worth taking the time to do your homework.
2) Check Their Website Security
The most important piece of information for any online dealer is their website security. Many sites use SSL certificates which encrypts data between the site and its customers so that no outside party can intercept information, such as credit card numbers. This is what you want – it ensures that the only people who can read your data are yourself and the website.
You should also check if their email address uses a secure connection by using HTTPS rather than just HTTP when you correspond with them. If an email doesn’t use SSL encryption, most email clients will warn you by showing a closed padlock symbol. If they don’t use HTTPS, that is a bad sign – it means any email with sensitive information sent to them could easily be intercepted and read by hackers.
3) Check Their Reviews
Checking for testimonials from previous customers can help give a feel for what it’s like to do business with a company. There are countless customer reviews online, so finding some for the company you are considering buying from will give you an idea if their service is worth using or not.
We have done some of our own reviews on a handful of trusted websites we like:
4) Check Their Pricing Policy
Different bullion dealers have different policies on price over spot price, and this can be important when buying gold and silver online. Shop around a bit to see if you are getting competitive rates.
Be sure to keep an eye out for any introductory offers such as free silver on sign up.
5) Check Their Shipping Rates
Some companies offer free shipping, while others charge for delivery. This is another detail you will want to check over before making any purchase.
If they have a high shipping cost this could cut into some of the money you might save by buying from them.
Be aware that for some very small purchases, such as a small amount of silver coins, the shipping fee can actually be more than the cost of the item itself – so be sure to factor this in when purchasing anything.
Vaulted gold and silver is a good option for large quantities and elevates shipping/delivery costs.
6) Check Their Product Availability
Some companies only sell specific items and do not offer any variety.
If you are looking for a specific item, such as a one ounce Britannia silver coin or Metalor gold bar, be sure the company offers a good variety of those items before making any purchase.
Also keep in mind that larger products can incur higher shipping fees if you buy online.
7) Check Their Customer Service Policies
Customer service is incredibly important for any company, and especially so with those selling gold and silver online.
You will likely have questions or issues that need to be dealt with, and you want to make sure the company’s representatives are easy to contact and quick to respond.
In addition to their normal customer service line, some companies also have a special email address or other contact that you can use for security-related questions or issues.
This is an important feature because it shows the company cares about keeping your information safe – and if they do, there is no need to worry about using their services.
8) Check Their Processing Times
Different companies have different processing times – some are incredibly fast, while others might take longer than the item itself to arrive!
This is yet another important detail you will want to take into account.
9) Check Their Site’s Reputation Online
Last but not least, be sure to check the online reviews left by previous customers of any company you are considering purchasing from.
Having other people’s experiences to read through can be extremely helpful in making your decision, and also gives you a chance to see if there are any potential red flags or problems with the company.
Never make any purchase online without checking for reviews first, because this can give you an invaluable insight into exactly how good (or bad) the company is before handing over any money.
By following these tips, you can be sure to find the right company to purchase your gold & silver from online.
Whether it’s for an investment or just the best place to buy coins you’re looking for, this list will help you choose quality – and avoid scams!
Is it safe to buy gold and silver online? Check out our reviews of some trusted sites to Buy Gold and Silver Online:
BullionVault: BullionVault UK review. How safe is BullionVault?
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