Welcome back to our loyal readers and welcome to our new ones. Are you over relying on your precious metal dealer? Are they your best source for gold & silver in today’s competitive market, how do you know for sure? Is your dealer placing an order or pushing you into one? The difference can cost you thousands over the long run. Intent of today’s post is not to bag on metal dealers because many reputable companies sell gold & silver. Maybe you’re asking the wrong questions? Today we expose what gold, and silver, dealers aren’t telling.
I have been on both sides of supply and demand. My perspective as a twenty-five year business owner is different from a buyer’s point of view. A business looks at an item’s profit potential compared to what a market will pay. A buyer’s point of view is opposite. Buyers ask who will sell for less but in a trustworthy and reputable fashion. The best gold buying situation you can hope for is somewhere in the middle. Knowing the difference begins with a simple understanding of the best gold or silver for you.
ONE QUESTION TO NEVER ASK A METAL DEALER:
Most precious metal dealers won’t admit that the worst question to ask is also the most common question they hear. The question is, “What gold or silver do you recommend?” The problem with asking this question is multiple. One, you just put the seller in a control position. Second, you are now dependent (that word again) on someone else to tell you what’s best for, well, you. We do not recommend putting your financial future in the hands of a commissioned salesperson. Now this is not to say good information can’t come from those trading metal because it can. We just want you to have the last word by way of a confident and informed decision.
Here is another problem or two we have with asking such a question. Will a commissioned sales person take time to ask necessary questions to decide the best metal for you? After all, today’s market moves quickly with new potential buyers calling in every minute. How much time will a seller allow you before realizing the commission on twenty silver bullion coins is not worth thirty-minutes of free gold consulting? Remember, the end game is to close the sale not give basic precious metal consulting. Many questions should be asked prior to advising someone on what to buy since all of us are at different places along our gold/silver journey. The same advice for you could be bad for me.
Competition is creating smooth presentations from both online and brick & mortar precious metal dealers. E-commerce has changed the way we buy everything from gold to vacations. The “hook” has never been more important as thousands of products compete for our attention and dollars. A perfect example is two words I heard recently from a gold/silver dealer, “high-potential“. Now if you’ve just asked a seller what they recommend I bet a couple of words like “high-potential” will help clinch your decision. But what exactly does high-potential mean? Doesn’t all gold have high potential; is the potential highest for the one selling or buying?
Hook words usually find themselves describing types of gold we don’t recommend for those new to physical gold/silver. The metal we recommend is not flashy or risky. The metal we recommend doesn’t need another “collector” to discover value in your precious metal treasure. Save high-potential gold and silver for collectors or the naive. Please read “BEST WAY FOR NEW BUYERS TO OWN GOLD & SILVER” if you have any doubt.
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