There are a number of companies that offer cash for silver in the United States. But the Better Business Bureau warns that some of them use deceptive practices that can be costly for consumers.
One such company claims to be the federal government, and they’re selling bars of silver that are worth less than what customers think they are.
Precious Metals
Precious metals are a group of naturally occurring metallic chemical elements that are rare and often highly valuable. They are not reactive like base metals and have a high luster and ductility.
Gold is the most famous precious metal, and it has long been used as a store of value. It has also been a form of currency for centuries.
Platinum, silver and palladium are also precious metals that have a variety of industrial uses. They are commonly used in jewelry and as an alloy to create “white gold,” for example, as well as in electronics.
They are widely recognized and valued around the world, maintaining their buying power in local currencies even in times of economic or political uncertainty. This is especially useful in the event of a currency devaluation or financial crisis.
Precious metals are also an excellent way to diversify your portfolio. They are not correlated to movements in the stock market and have an intrinsic value that usually increases over time.
Avoid Scams
Scams in the gold and silver industry can happen on many levels. The first and most obvious is a dealer offering you products that are more valuable than they really are.
This happens when a salesperson convinces you to invest in a product that is a “limited edition,” a “exclusive design” or some other catchy phrase. Then they ask for your credit card number and other personal information.
Another scam is the sale of fake coins, especially silver dollars. These counterfeit coins are often marketed as genuine United States silver dollars, and the Anti-Counterfeiting Education Foundation reports an increase in these types of advertisements.
A safer way to invest in silver is to buy exchange-traded funds (ETFs) that own physical silver bars, coins and rounds. These funds are highly liquid and offer the potential rewards of owning silver if it rises, with fewer risks like theft.
Do Your Research
The cash for silver usa bbb is a legitimate business that offers customers a fair price for their old gold and silver. They also have a money back guarantee. They accept broken or whole gold jewelry, coins, tableware, flatware, dental scrap and more. They have a website that is easy to navigate and the staff is friendly and knowledgeable. The company is an A+ BBB accredited business, and they have a slew of customer reviews. They are also a member of the ICTA, which stands for Industry Council for Tangible Assets. The icing on the cake is they have a surprisingly high TrustPilot score. They also have a gimmick that relates to the name of their founders, a mascot that’s sure to catch your eye.
Get Multiple Appraisals
If you’re looking to sell your coins, getting multiple appraisals will help ensure you get the best price possible. This is important because some coins will fetch more during auctions, while others will do better when sold in local stores or ecommerce platforms.
Once you’ve got a couple of different appraisals in hand, you can decide which one is the best for your needs. It’s a good idea to get an appraiser who’s experienced in appraising your specific coin collection.
Another thing to look for when choosing a coin appraiser is their level of accreditation. Only businesses that have received accreditation from reputable organizations are a safe bet to work with.
PGS Gold & Coin is a certified appraisal firm with a team of numismatic experts who have extensive training and experience in appraising coin collections. Our appraisal reports are based on comparable sales analysis, which is a comprehensive process that involves researching retail markets to identify similar items and investigating them in depth.
