Question by American Patriot: Which online companies are reliable and have good reviews for selling silver?
I am planning on buying silver but I can’t find any good sites that have good reviews. I have taken a look at some online sites such as Goldline (which i will never buy from due to them having so many bad reviews) and others but most seem to not be reliable. are there any good sites that have a reputation for being reliable?
Answer by curtisports2
What do you mean by ‘reliable’? Reliable to me means getting exactly what I buy, hassle-free. You won’t have a problem getting what you buy with Goldline.
Where people run into problems with Goldline is in not knowing what they are doing. They call up and say ‘”I want to buy gold.”
That’s great. Goldline is in the business of selling gold at a profit. Where they make large profits is by selling numismatic coins, that is, coins with collector value that really has nothing to do with the price of gold. Some collector coins have gone up in value along with the gold, but many others have fallen in value. When the economy sours, there is less money for things like collecting rare coins. I know collectors who paid top dollar for some very scarce $ 1 gold ‘Indian Princess’ coins from the 1880s – $ 7,000 for one in particular. The market took the price as high as $ 8,000 in 2006; today it’s valued at $ 5,000 and would probably sell closer to $ 4k – all while the value of the gold in it has at least doubled since 2006.
When you do not say “I don’t want collector coins, I want gold bullion with no additional collector value, and I want to pay as close to ‘spot’ as I can – what can you do for me?”, Goldline will sell you what they can make the most profit from. When you tell them exactly what you want and don’t allow yourself to be directed to collector coins, they will sell you bullion. Their price may not be as low as other places, but you won’t have any problems buying it and getting it if you use them.
I suspect the ‘bad reviews’ you’ve seen are equal parts ignorant customers who didn’t do their homework first and were sold high-markup collector coins which are bought back at steep discounts, so that the doubling in price of gold made them a tiny profit or none at all, and Glenn Beck haters who’ve never done business with the company and are just trying to damage him by damaging his sponsors.
If you insist on gold bullion and stick to bars from Pamp Suisse, Suisse Credit, Engelhard, Johnson-Matthey, or bullion coins like American Eagles, Canadian Maple Leafs, Austrian Philarmonics, Krugerrands, you shouldn’t have a problem.
Just shop around. Apmex and Kitco are other trustworthy sellers.
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