Buying gold nuggets comes with its dangers. While there are plenty of reputable sellers out there finding this precious element and tagging it with a fair price, there are also those who like to take advantage of buyers who don’t have enough knowledge to call them out.
When purchasing gold, your job is to not be an easy target. So, how exactly do you do that? Whether you’re a first-timer or you’ve been in the game for a while but want a little more direction, here are six safety tips for purchasing gold nuggets.
- Consider the Seller
You can’t go with any old seller when it comes to something as valuable as gold, so consider who you’re buying from and how trustworthy they are. The most reputable sellers will have a website with plenty of information on the gold and where it was found. Check out customer reviews, too. For those looking for high-quality, gold nuggets listed on nuggetsbygrant.com come in large varieties of all shapes and sizes – from Alaskan nuggets to Australian gold, you are sure to find what you’re looking for.
- Research Gold Value
Before purchasing a gold nugget that you think is worthy of the price, do a little research on gold value first. You might find that the seller is asking for far more than it is worth! By knowing the general value of gold, there’s less chance you’ll get scammed.
- Remember that Grams and Grains are Different
It is crucial to pay attention to the weight, as you could end up misreading and buying gold nuggets you thought were much heavier than they actually are. One of the biggest mistakes newbie gold nugget buyers make is mixing up grams and grains. It makes sense, seeing as how similar they can be spelled, but the weights themselves are vastly different, with grams weighing far more than grains.
- Use a Gold Acid Test Kit
If you want to be completely sure that you are buying what is being advertised (and why wouldn’t you?), then the safest way to do so is by using a gold acid test kit. Once you receive your gold from a new seller, the first thing you should do is test it, and if it isn’t as pure as advertised, either go through the returns process or file a dispute with the seller.
- Check the Returns
Does the seller you’re buying from offer returns? If you are ordering online, it’s better to order from someone who makes returns simple. Even if you receive the item exactly as advertised, it might not meet your expectations, so it’s always safer to know that you can return it if you want or need to.
- Ask for a Size Reference
It’s not always easy to see how big the nugget is, and some sellers make them appear bigger than they are. For this reason, ask for a size reference when purchasing – a coin is usually a sensible option for putting by its side.