Buying Bullion local vs. Online

The Precious Metals investor now has more options than ever before for purchasing physical Precious Metals. There are multitudes of Bullion dealers large and small Online and Local to choose from.

When buying from a large online company the experience can not only be impersonal but what guarantee do you have that any of these companies are solvent? Or That you will get the Metal that You bought and paid for?

I am writing this blog In the wake of yet another large bullion dealer gone bankrupt to raise the awareness of my clients that just because a company is big and has a national brand and website, does not mean that there is no risk when you wire your funds to purchase metals.

In the Past Year or so We have already seen many Large (reputable?) online companies go bankrupt while in possession of millions in customer funds. The newest addition to the list is a BIG ONE… Northwest Territorrial Mint Located in Washington. NWT Mint is a household name in the Precious Metals Community but sadly the headline reads:

“Northwest Territorial Mint Bankrupt, Bullion Buyers may lose millions” click link below.

http://www.coinweek.com/education/consumer-alert/northwest-territorial-mint-bankrupt-bullion-buyers-may-lose-millions/

When a company goes bankrupt while in possession of your funds there is a good chance your funds are gone.

When Buying Local you not only have a chance to meet and evaluate the people you are dealing with, and most of the time you can take physical possession of your metal at the time of purchase.

At Portland Precious Metals and Coin we Keep it Small and customer service oriented. We don’t over extend ourselves by gambling with customer funds and we only deal with the largest and most reputable wholesale outlets in the Industry. Lets not forget the #1 reason to shop local, Small Business is the backbone of the US economy. Besides, Much of the time we can match online prices so why not support your local coin shop.

Best,

Mike

Portland Precious Metals and Coin

 

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