What to Ask Before Buying from a New Bullion Dealer in Perth

Perth is a significant hub for purchasing precious metals, with several primary bullion dealers. With the increased demand comes more dealers from which to select, each providing you with different investment opportunities. Nevertheless, time must be spent evaluating these dealers before purchasing. A reputable dealer offers fair prices, thorough authenticity testing, secure storage, and excellent service.

Why You Should Check a Bullion Dealer First

Taking the step to buy gold or silver is a significant financial decision. These metals are typically chosen to safeguard wealth in uncertain times. Yet, some dealers might offer low-quality items or surprise you with extra costs if you do not pay attention.

For this reason, you need to look into the dealer’s reputation before you buy bullion. You can trust a dealer who provides genuine, high-quality metals at competitive prices. A good relationship with a dealer ensures you have someone to turn to if you need to buy again.

Key Questions to Ask

1. Are You a Licensed or Registered Dealer?

Always verify whether a new bullion dealer in Perth is appropriately registered or licensed before purchasing. All legitimate dealers must be registered with the Australian Securities and Investments Commission (ASIC) or have an equivalent qualification.

Also, the dealer must be registered with the Perth Mint Approved Distributor programme or the London Bullion Market Association (LBMA). Such associations indicate that the dealer is following strict industry guidelines and rules.

Information like this gives you greater confidence about the quality of the products you purchase. Buying from an approved dealer gives you greater confidence against counterfeiting and forgery of bullion.

2. What is Your Pricing Structure?

Because bullion pricing can be confusing, it is essential to understand how a dealer determines their prices. Every day, the global market determines the value of gold or silver. Most of the time, dealers require you to pay a premium in addition to the spot price.

Please enquire with the dealer to determine what is included in the premium and whether it varies for different coins, bars, or metals. Some dealers may require additional charges for storage, delivery, and insurance.

You should request information about these fees before you make a purchase. Having all the expenses explained allows you to make wiser choices and prevents unexpected costs.

3. Do You Offer Authenticity Guarantees?

Always ask the dealer how they guarantee the authenticity of their bullion. You should receive an assay certificate, or certificate of authenticity, from trustworthy bullion dealers. This document confirms the bullion’s purity, weight, and place of origin.

You should also enquire with the dealer about the sources of their metals. Are the dealers associated with certified mints or trustworthy suppliers? Buying from a dealer who offers authenticity guarantees makes you less likely to receive counterfeit or inferior items. Moreover, it becomes simpler to sell the bullion if you have to do so later.

4. What Are Your Buyback Policies?

Before buying from a bullion dealer, always ask about their buyback policy. A good dealer always ensures that they ask a bullion dealer about their buyback policy before making a purchase.

You should expect a good dealer to buy back your gold or silver if you decide to sell it later. Determine if they offer product buyback and, if so, at what price. Ensure their rates are comparable to the market value and enquire about hidden charges. There may be dealers who will pay less or charge extra when acquiring bullion from you.

Knowing this information helps you make more informed investment choices and avoid surprises when you sell. A buyer’s confidence in a dealer strengthens when the buyback policy is transparent and fair.

5. Can I Inspect the Bullion Before I Make a Purchase?

Reviewing the bullion before purchasing, especially for significant investments or rare items, is essential. You should ask the dealer if you can inspect the bullion in their store before you buy.

Many dealers allow you to use independent inspections to confirm the quality and authenticity of the bullion. It becomes more critical when you are buying valuable or unusual bullion coins.

Examining the bullion before you buy allows you to inspect its condition, weight, and packaging. It also helps you feel more confident in the dealer’s honesty. A reliable bullion dealer will not hesitate to show you the bullion you are about to buy before any agreement is reached.

6. What Security and Storage Options Are Available?

Taking care of your investment after buying it is just as important as the act of buying it. You should always check with the dealer to see if they have safe storage options. Some dealers offer vault storage on their premises or partner with reliable external storage companies.

Robust systems secure these storage sites and may provide insurance for added peace of mind. If you want to keep your bullion at home, consider getting recommendations from the dealer on safe storage.

An experienced dealer should be able to help you learn how to keep your metals safe from theft and accidental damage. Having secure storage options ensures that your investment is better protected.

7. What Do Other Customers Say About You?

Checking the reputation of a new bullion dealer in Perth is crucial when purchasing gold or silver. A reputable dealer typically has customers who are happy to share their experiences.

Take a moment to research what others have said about the business before making your purchase. You can read customer reviews on sites like Google, Trustpilot, and forums like Silver Stackers.

These sites typically contain honest comments about the dealer’s service, shipping, and the quality of the products. A high number of satisfied customers usually reflects well on the dealer. If you encounter complaints about late shipments, unexpected costs, or inferior materials, consider them carefully before purchasing from that dealer.

Conclusion

Asking the right questions before investing in precious metals helps you find a reliable bullion dealer and secure your money. Answers about licensing, pricing, security, and reputation help you judge the dealer's reliability.

Contact Perth Bullion Exchange today to benefit from trusted service and expert guidance when investing.