Consider The Source When Researching a Precious Metal Company
The following article is created by Orion Metal Exchange for the benefit of our investors and perspective investors alike. We seek to provide relevant content concerning precious metals and the impact caused by the economy and geopolitical trends that will most likely place impact on your financial future. If you are interested in learning about precious metal investing, call 1-800-559-0088, for a FREE investor kit.
A properly diversified portfolio will promote stability and growth over time. Precious metals are a key ingredient to a properly diversified portfolio.
Choosing the right precious metal company is the most important choice you will make when investing in precious metals. Choosing the correct precious metal dealer can determine the difference between profit or loss in a precious metal investment.
How to choose the best precious metal company:
1. Better Business Bureau: Focus on the “Customer Complaints“
There are ways to research a company beyond a high-priced celebrity endorsement and a dealer’s selective display of glowing customer reviews previewed on their own website. The Better Business Bureau offers a platform for customers to file formal complaints against any legitimate company. A dealer’s BBB profile is where your research should begin. It’s important to carefully review a company’s customer complaints to determine if there is a negative pattern in a company’s business practices. The BBB will assign a rating of A+ to F, and in some cases “No Rating” or NR. It’s important to understand that a BBB rating only represents the BBB’s opinion of how the business is likely to interact with its customers and does not represent a customer’s satisfaction with the service and value received. The Better Business Bureau states, ”Customer Reviews are not used in the calculation of the BBB Letter Grade Rating.” And this is why we suggest that consumers focus on the content in the customer complaints filed more so than on the BBB company rating that’s displayed.
2. Buyer Beware: Advertising campaigns VS Legitimate review sites
The internet is where most consumers will look to locate a precious metal dealer. It’s important to understand the difference between a valid review site and the online advertiser that attempts to appear as a non-biased review site. A legitimate review site is designed to help consumers research and determine which dealer will best suit their precious metal needs. An advertising campaign site will only recommend a dealer to earn a commission or referral fee. In other words, the advertising campaign site’s recommendation is based on self-enrichment instead of the best interest of the consumer. In some cases, a precious metal dealer will own and control the advertising site itself to promote themselves as the best dealer company. Obviously, an advertising site that is funded by the same company it recommends or receives commissions from who they recommend is biased. Generally, the same companies that refuse to offer transparency through posting online product pricing will advertise in this manner.
A legitimate review site will:
- Will provide a valid physical address in the U.S.
- Will provide a valid customer service phone number in the U.S.
- Will provide the ability for customers to publicly post reviews.
- Will not receive a commission or referral fee from the companies they recommend.
Consider utilizing valid review sites such as the BBB, Retirement Living, Trustpilot, Consumer Affairs, and Google Reviews to research precious metal companies.
An advertising campaign site will:
- Will not have a valid physical address in the U.S.
- Will not have a valid customer service phone number in the U.S.
- Will not provide a platform for customers to publicly post customer reviews.
- Will receive a referral fee or commission to recommend a company.
Avoid falling victim to pay-for-play advertising campaign sites such as Learnaboutgold.com, bestgold.org, focusontheuser.org, best-gold-ira-company.com, goldinvestmentplanning.com, offers.goldiracompanies.com, bestgoldcompany.com, wallstreetzen.com, digitalfinancingtaskforce.org, lendedu.com, money.com, bestgold.org, iraempire.com.
These sites are motivated by profits and their recommendations are solely based on referral fees and commissions earned.
Once again, if an advertising site is to receive a referral fee or commission from the companies they recommend, the recommendation is biased and only intended to enrich themselves
3. Celebrity endorsements offer no value: pay more and receives less
Celebrity endorsements are commonly used in the precious metal industry. Celebrity endorsements are extremely costly. To offset the cost for a celebrity endorsement, a company will simply raise the cost of the products they sell. In the precious metal industry, this simply means the consumer will receive less metal for their money, and less money for their metal. The cost of a celebrity endorsement will equivalate to a higher cost at purchase and a lower value received at liquidation. To receive more metal for your money, and more money for your metal, consider companies that focus less on advertising and costly celebrity endorsements and more on customer satisfaction and value.
FAQ: Your Key to Understanding!
Which precious metal is most widely recognized?
Gold is widely regarded as the most popular and recognized precious metal. Gold is often associated with high social status and wealth. Its practical applications in industries like jewelry and finance, coupled with its status as a hedge against inflation and economic instability, solidify its prominence. Investors often consider gold an essential component of diversified portfolios, further emphasizing its significance in global markets.
How to buy precious metals?
To buy, sell, or exchange precious metals intended for an accredited retirement account, home delivery, or commercial storage facility, simply contact Orion Metal Exchange at 1-800-559-0088.
Why is gold and silver used as a store of value?
Gold and silver have historically been used as mediums of exchange due to their intrinsic value, limited supply, continued demand, and resistance to erosion over time. Their universal value and liquidity in global markets have cemented their status as cornerstone assets for trade and investment purposes.
The following article is created by Orion Metal Exchange for the benefit of our investors and perspective investors alike. We seek to provide relevant content concerning precious metals and the impact caused by economic and geopolitical trends that will most likely impact your financial future. If you are interested in learning about precious metal investing, call 1-800-559-0088, for a FREE investor kit.
