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If You’re Going To Buy Gold Or Silver, Buy Local. Here Are 7 Reasons Why

13 November 2013 One Comment

If You're Going To Buy Gold Or SilverOver the past few years the value of silver, gold, and other precious metals has continued to increase. Since it can be a great investment, buying gold or silver bullion can be a great option. If you do choose to buy some precious metals, there are seven reasons why you should buy locally as opposed to online.

First Reason:

The first reason why you should buy precious metals locally is that you can save on shipping costs.
If you buy precious metals online, you will likely have to pay shipping costs to get them to you home or place of storage. Buying locally will allow you to avoid this cost, which could increase your return on investment.

Second Reason:

Another reason why you should buy locally is that you can receive your product quickly. When
buying online or through another party, you will have to wait up to a week to get your product. In that time period, prices could shift and you could miss out on an opportunity to sell and make a profit. Buying locally will allow you to avoid this risk.

Third Reason:

Buying locally will also help to ensure that the product you avoid stays in good condition. When
buying bullion, there is always a risk that your goods will be damaged or stolen during the transportation process. If the shipper is not insured, you could incur a loss because of this. When buying local, this risk can be eliminated.

Fourth Reason:

Investors should also consider buying their gold or silver bullion locally because they will have the
opportunity to examine the product. The difference in value between a pure metal and something of lower quality is significant. Because of this, having the chance to inspect something in person is very important. If you buy something online that is of lesser quality, returning it could be problem.

Fifth Reason:

The fifth reason to buy locally is that you will have a better understanding of the seller’s reputation. If you buy locally, there will most likely be a local understanding of who the good and bad sellers are. If you choose to buy something online, you may not have access to that information. As the trustworthiness of the seller is so important, buying locally could end up being very advantageous. Buying locally sometimes allows you to actually meet the seller of that piece in-person and it might help you create a relationship should you need to sell gold for cash later.

Sixth Reason:

Another reason to buy locally is that you could also receive free or discounted maintenance after you complete your purchase. It is important that you keep your bullion polished, clean, and in good condition. A seller will often be able to provide you with discounted services for this. If you buy online, you will likely not have access to this service, which means you will have to pay more to have it done locally.

Seventh Reason:

The seventh reason to buy locally is that you could have an easier time negotiating. When buying
bullion, there is often room to negotiate. If you buy your gold or silver from a live dealer that is located near you, you may have a much easier time negotiating the sales price. Negotiating with an online vendor could end up being much more challenging.

In conclusion, buying precious metals could be a great investment. If you do choose to buy some precious metals, there are seven reasons why it would be a good idea to buy locally as opposed to buying online or through an out of market seller.

One Comment »

  • FrankJ said:

    Reason to NOT buy locally? Sales tax.