People have been buying and selling silver for centuries. In portfolios, many savvy investors choose gold or silver bullion. These are known as safe-haven investments. There are a lot of precious metal dealers who sell investment-grade bullion throughout Melbourne. These days, it seems like there’s a new dealer that springs up every month.
A lot of the bullion buyers offer bullion coins and bars at low and competitive prices. Some have been around long enough to have built a solid reputation whilst others are still new and offer questionable advice. If you are new to silver investing you need as much information as you can get but be wary of dealers who will give you misleading information to promote themselves.
Taking decisions about your financial future based on false information or limited knowledge can be costly. You should be able to trust the dealer you are buying your precious metals from. An expert dealer can give you some general information but the best dealers are interested in helping you meet your goals. Dealers with a buy-back policy are convenient because you won’t have to work hard to find a dealer that will buy your silver bullion at the right price when it comes time to sell.
Knowledge is Key
If you want to buy silver bullion it requires one to have knowledge and insight into the bullion market. Education is very important. When you are educated, you are likely to make the best decisions. Before you decide to dip your toes into silver markets, think about your short-term and your long-term goals.
The truth about private and non-reportable bullion
A lot of people who enter the precious metals market do so because of the privacy and protection that gold provides that other asset classes like stocks and bonds don’t offer. You don’t need to prove anything about yourself when buying silver from any Australian silver dealer. No dealer will require an ID or any form of identification. The transaction can be totally private. When it comes to selling, there are certain types of gold products that the dealer needs to report on. However, most dealers do not disclose this. They create confusion about taxes: if they are applicable, who pays and what the laws say about owning bullion.
Not all products offer privacy and protection. However, if you don’t know what these are you won’t be able to make a decision that is right for you. A reputable bullion dealer will tell you before you even ask. A trustworthy dealer will try to offer you the correct information and will work harder at giving you the best service.
They make numismatic coins sound incredible
Some dealers might preach the importance of having a well-diversified portfolio that should include numismatic coins. In the case of numismatic coins, they may offer better protection from government confiscation (if such a threat were ever to be real). The idea that the government would one day make owning gold illegal comes from the U.S history with gold. The government did confiscate gold held by private citizens in 1933. This happened in America, not Australia. Depending on the coins bought, current market conditions, and demand, they may offer more returns than bullion coins.
The truth is if you want to invest in gold then numismatic coins aren’t the best way to go about it. Numismatic coins will not protect you from government confiscation! you should buy these from an expert, not your ordinary neighbourhood gold dealer
It is your job investor or consumer isn’t to be an expert but to find an expert you can trust. Find a gold dealer that has been in business for years, someone with a good reputation, positive reviews. A dealer that puts some effort into teaching you about your gold and the gold market, with no obligation from your side, is worth your time.
