If you want to invest in gold or silver, you can easily do so online. There are a number of online marketplaces where buyers, dealers and sellers interact and transact in gold. Buying the precious metals online is simple and fast. You simply need to identify the metal you want, contact the seller to ask the price and pay for your order using your credit card.
However, since the transaction is done online and you cannot see the gold physical before you buy, it pays to be extra careful when buying. The metals are high ticket items and this makes them attractive to fraudsters. For example, you may be sold fake gold in the pretense that it's real gold. Moreover, some merchants may not deliver the gold that they promised.
Unlike in an offline store where you can simply return merchandise that does not meet your expectation, dealing with online sellers can be tricky. This is why you should take time and research well to find a good gold seller. Here are some tips that will help you when buying gold or silver online:
i) Check website security
Check that the website you are buying is secure. An easy way of knowing whether a website is secure is to check the beginning of the website's URL. The URL should start with "https" unlike the usual "https". The URL menu on some browsers may also be green and there may be a "padlock" icon to signify that the site is secure. Do not provide your credit card details at a website that is not secure.
ii) Escrow
Look for a website that offers about escrow for gold or silver purchases. Escrow is a type of payment protection that is meant to make buyers trust sellers will provide the items promised. Given that a single gold bar can cost several thousand dollars, you don't simply want to pay without seeing the product physical. A website that offers escrow protection will give you a chance to examine your purchase before your payment is released to the seller. This option makes the seller more committed to sending the gold promised.
iii) Certification
If you are buying many amounts of gold bullion, make sure that they are certified to be owned by the seller. Ask the seller to present a certificate of owners to prove that the gold is genuine and their rightful property. This certification option may however not be available in all states.
The above are some tips that will help you avoid scams when buying gold or silver online.
However, since the transaction is done online and you cannot see the gold physical before you buy, it pays to be extra careful when buying. The metals are high ticket items and this makes them attractive to fraudsters. For example, you may be sold fake gold in the pretense that it's real gold. Moreover, some merchants may not deliver the gold that they promised.
Unlike in an offline store where you can simply return merchandise that does not meet your expectation, dealing with online sellers can be tricky. This is why you should take time and research well to find a good gold seller. Here are some tips that will help you when buying gold or silver online:
i) Check website security
Check that the website you are buying is secure. An easy way of knowing whether a website is secure is to check the beginning of the website's URL. The URL should start with "https" unlike the usual "https". The URL menu on some browsers may also be green and there may be a "padlock" icon to signify that the site is secure. Do not provide your credit card details at a website that is not secure.
ii) Escrow
Look for a website that offers about escrow for gold or silver purchases. Escrow is a type of payment protection that is meant to make buyers trust sellers will provide the items promised. Given that a single gold bar can cost several thousand dollars, you don't simply want to pay without seeing the product physical. A website that offers escrow protection will give you a chance to examine your purchase before your payment is released to the seller. This option makes the seller more committed to sending the gold promised.
iii) Certification
If you are buying many amounts of gold bullion, make sure that they are certified to be owned by the seller. Ask the seller to present a certificate of owners to prove that the gold is genuine and their rightful property. This certification option may however not be available in all states.
The above are some tips that will help you avoid scams when buying gold or silver online.