Buying gold online can be an easy and safe process if you take the necessary precautions and do your research. However, if you rush into it you could wind up paying extra for no reason, or even worse, if you’re truly unlucky and incautious you could be scammed out of your investment completely. The following three tips should help you avoid unscrupulous sellers and make a safe gold investment over the internet.
Start By Comparing Official Dealers
If you’re planning on buying coins that are produced by the U.S. Mint you can check their official list of dealers to find a reputable source that deals online. If you’re planning on investing in gold bars you’ll want to stick with some of the more established online dealers like BullionVault, BullionDirect, Monex, APMEX, USAGold, and the USGoldBuraeu. If you’re shopping for Canadian Maple Leafs, check with the Royal Canadian Mint website to find their official dealers list. Although North American coins and bars are the most popular, the same rule applies for any type of bullion — always check with the most authoritative resource before buying.
Protecting Online Financial Transactions
Perhaps the riskiest aspect of buying gold online is not that you’ll be ripped off by the broker, but that someone could intercept sensitive financial information by compromising your internet connection. To avoid this it is best to keep an updated antivirus program running on your computer at all times. Using a combination of Avast and Malwarebytes PRO is a good way to keep your PC secured. Also, only enter your financial details into web pages that start with the letters “https” (the ‘S’ on the end stands for “secured”). These pages are encrypted and it is therefore highly unlikely that the transaction could be intercepted or spied on.
Checking Accreditation and Certifications
There are a lot of online gold dealers out there. Maybe you are considering buying from a dealer that is less-known in order to save money, and you’re not sure whether to trust them? The safest way to find out if a company is reliable and safe to deal with is to check the Better Business Bureau online database. There you should be able to find their corporate history as well as consumer experiences and information on any accreditations they have. If you’re purchasing gold as an investment it is extremely important to only deal with the most reputable providers, as you don’t want to take the risk of buying counterfeit gold or losing your investment altogether. Finally, only buy from dealers that provide an official certificate of purchase with each investment.
