5 Biggest Mistakes
Most People Make when purchasing precious metals and how you can avoid them
People shop the online warehouses or call the large metals companies and price shop.
Do you realize that there is a “metal of the day” at many large companies? They sell the coins with the greatest commission for the salesperson. Of course, this industry is somewhat like the used car industry. Most of the companies that have emerged in the last several years are owned by people who have no idea about any metals except bullion. They sell you the coin of the day, or they sell you what they have the most of that they want to get rid of quickly. This is a very shady industry because it is an unregulated industry. We don’t need the government in all our business. However, when purchasing metals it is Key that you don’t worry about shopping price! Do you want the cheapest or the best? RMUSA will sell you the best for YOUR individual needs.
People buy metals piecemeal and don’t have their portfolio diversified or don’t consult an expert.
The reason this is not good is because there is a rhyme and reason for the metals you should own. Again, all metals are not the same! There are actually thousands of kinds of metals to own. Typically people just buy whatever they have heard of and that is the reason RMUSA exists! We have studied metals and Anne is an economic journalist as well so she researches and continues to learn. She is a member of the American Numismatic Association and her vendors tell her she is one of the few companies that even know what to buy her customers. This is so important to the buyer.
Thinking all metals are the same.
Again, like price shopping, this is one of the biggest mistakes people make when they purchase metals. They ask someone or do a little research on the internet and think they know the answers. One client of Anne’s tried to buy on his own without consulting Anne. He came to realize it was impossible to choose, and instead paid a little more and has peace of mind that he has the best metals for his family, not just the cheapest ones, or the ones someone else told him to buy.
Where do you recommend I store my metals?
When you do business with RMUSA we include a list recommending 15 suggested places to store your metals. This will be extremely helpful because it is very important to keep the fact that you own metals secret. Also, we do not recommend depositories in far away places because when you need them it may be very hard to get them and take a long time if many people are wanting them at the same time. Our experience has shown that it takes on average 6 weeks to get your metals, even if you make an appointment and drive to Delaware to the depository.
This mistake is not related to purchasing metals but trading gold for cash.
Across the country and popularized by some of the most well-known TV advertisers and even church leaders is that you should take your gold jewelry and silver jewelry and trade it for paper! This is the stupidest thing anyone could do unless they are desperate for cash. WE sell paper money (worthless and debt-money as we call it), for REAL money! If you want to trade in your old jewelry, fine, we can trade it for you for precious metals which are real money. Very soon as the US debt rises and rises, the dollar will be replaced as the world’s reserve currency, and they will close the banks and bring in new paper money. The debt-money you have that is paper will be devalued, probably without warning; as has happened in Venezuela. Today Venezuela is in complete chaos! Or take Cypress, where they closed the banks and literally took money from people’s accounts to pay the debt of the country! Please, do not fall for the cash for gold scam.