Expert Mike Fuljenz Tells NRA Top Tips You Must Know Before Buying, Selling Gold Or Silver

12/28/2012 Posted by admin

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“Before you purchase or sell gold or silver coins or jewellery, remember the sage guidance : ‘Investigate before you invest.” There are several collecting and investing options available for valuable metals, but you must rigorously select before proceeding to make any purchases or selling,” cautions award winning author and consumer advocate Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas . Universal is the official rare coin and bullion dealer of the Nation's Rifle Organisation and Fuljenz will take part in the NRA’s 2nd annual Liberty First Financial Convention in Pittsburgh, Pennsylvania, April 29 and thirty, 2011, with the NRA Yearly Conferences & Items. Here are his top 5 tips buyers and sellers must know before making any transactions.

  • If you do not know gold or silver, you’d better know your valuable metals dealer. Is the person an officially appointed dealer with the Pro Coin Grading Service (PCGS) or Numismatic Guaranty Concern (NGC)? What’s his / her Better Business Bureau rating? Ratings are available free online at the internet website Check out the dealer’s references.

  • How much are you actually paying or receiving compared to the melt price of the coin (s) or jewelry? The value of gold and silver bullion coins is typically decided by their valuable metals content. What is the inbuilt bullion cost of the coin if it was liquified and sold? That info is widely available on the internet. Figure out what percentage “over melt” the vendor is asking or how much under melt the buyer is offering.

  • You may be quoted a price related to grams or pennyweights, and it may appear you are getting a good deal because the gold weight appears bigger, but your essentially being offered a lowball price . Remember there are 31.1 grams and 20 pennyweights to the troy oz., and make sure the scale getting used to weigh your items is suitably licensed if needed by official agencies.

  • Always get a detailed, signed transaction invoice from the purchaser or seller. You will need explanation if you later believe you were misled or deceived and want to make a complaint with authorities. A receipt can also be handy for tax purposes.
  • Don't be rushed. Be cautious of any “act now” sales spiel that insists you've got to sell or buy right away.

    Costs may rise or fall due to daily or hourly changes in the bullion markets, but credible dealers are upfront about taking time to teach purchasers about the advantages and drawbacks of selling and buying gold and silver coins or jewellery.

For further info, contact Universal Coin & Bullion at (800) 459-2646 or visit online at UniversalCoin release distribution

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