Tricks of the Trade: Bullion Basics

Table of Contents

The reason we do this is due to the fact that a well-educated customer is susceptible to making great, safe choices when it pertains to buying either bullion or fashion jewelry. We desire our customers pleased, and that means steering them in the right direction. Even if it implies sharing some unpleasant facts.

Weve got you covered.

As you are certainly conscious, one of the main objectives of Bullion trading LLC. is to educate our clients and our readers about the industry were associated with. We do not keep back– were privy to sharing the good, the bad, and the awful. And weve almost got enough to fill an entire library with that knowledge.

Not everything that takes place in the fashion jewelry or bullion markets is what you d call “above board.”
Welcome to another series we here at Bullion Trading are proud to best: the “Tricks of the Trade” series. As youll understand from reading our blog site, not everything that takes place in the precious jewelry or bullion markets is what you may call “above board.”

Is that really required? Naturally it is. Keep in mind, gold and fashion jewelry is a very high-margin company. That suggests the product is pricey, sometimes rare, and you know what that suggests. It brings in all manner of dubious folk, and not every deal you strike up– online or at the counter– might be what it seems.

In todays installment, were going to cover among the simpler tricks a bullion salesperson might employ to pull a fast one on you. Youre far more most likely to prevent being taken benefit of if you understand whats actually going on behind the curtains.

In the bullion industry, coins are among the most popular items. The historic worth, the nostalgic value, and heck, the real-time financial worth make them a wonderful investment or collectable. If youre here on our blog site, were willing to wager you yourself own, or would like to own some gold coins. Its a good concept.

Some bullion salesperson have tricks up their sleeves. Find out which ones!

When youre purchasing, you probably question whether or not you need to go shopping online or shop at a retail shop. We cant make that call for you, as there are advantages and disadvantages to both. We do understand when and where a less-than-honest dealer may stand to make the most of a customer the most though. Think about the following:

Of course, youll find our finest tips for protecting yourself, too. This guide merely aims to educate and arm you with what you require to know to make the safest, rock-solid investments possible, no matter how you shop.

The online purchaser. The reason is basic– the dealer got fooled through an online deal, and can quickly pass his/her losses along. Anonymously, or by means of their regular channels of distribution (their site or shop). Due to the fact that online purchases are more blind than counter top purchases, itll be simple for them to do. If they werent, our hypothetical dealership would have had a much better appearance at the merchandise and prevented the buy.

We likewise advise staying with the larger bullion movers out there. As weve spoken about before that means the better you get to NYC, the better off you are. If youre handling somebody who has a storefront, which shop is in the diamond and bullion headquarters of the world, youre handling somebody who isnt playing any cons. Oversight, security, guidelines, controls … the folks here have it in spades.

That very same loss of sight while going shopping online is precisely what that dealer now depends on their potential online consumers to experience when looking at that merchandise. Its called “passing the buck,” and we all know someone whos great at it.

If a website or a dealer buys coins and they get here in poorer shape than what was agreed upon, who might that seller sell the coins to assist cover their loss and mitigate the risk of receiving confrontational consumers or bad reviews?

Its driven us to develop a brand-new series entitled “The Tricks of the Trade,” and its developed to inform you and other prospective gold buyers about some of the nastier techniques some salesperson are using to pull the wool over your eyes.

Weve talked about it before on the blog– not everyone involved in offering gold is as respectable as Bullion Trading, LLC. We hear purchasers regret stories each and every single day online and at the counter top.

Gold and fashion jewelry as a high-margin, high-demand product is as old as civilization itself, and that implies there are tricks as refined as the quality assurance indicated to stop them.

You might not be purchasing from a respectable dealership. Not everybodys honest, and you never can tell who youre dealing with online. For that reason we advise dealing with a bullion merchant who likewise has a shop that you can quickly discover through online searches. That gives you a guarantee the dealers product is pristine enough for the retail environment, and not sitting in some box gathering dust up until an order is put online. Some of those online-only holding rooms must appear like a motorcycles been through there.

You d think the dealerships would be worried about performing this sort of maneuver to recuperate losses, and for the a lot of part you d be correct. The majority of jewelers and bullion salesperson are genuine and quite honest and respectable these days. There are such rigorous controls on their industry that transparency is required, and heavy oversight is frequently present.

Just be aware of this sort of thing. You have a good head on your shoulders, so utilize it when purchasing gold. Its an extremely easy buy sometimes. Gold is really attracting. Be aware, your speed to buy is what a lot of bad retailers depend on. Do your research study, be deliberate, and youve got nothing to fret about.

We comprehend you may be limited to online shopping, and were not stating it should be avoided. We just imply to say that its simpler for a jeweler or a bullion salesman to pass along their losses through an online deal than it is a physical one. You really should not have anything to worry about if you follow some of the guidelines weve detailed above. This is a somewhat common technique, but not among the huge players in the industry.

Statistics reveal that even for such a high margin item like bullion or jewelry, only about 1 in 100 individuals will leave an evaluation of any kind. That indicates a jeweler may be perfectly prepared to run the risk of treating you dishonestly simply due to the fact that they understand that with each passing day, youll simply care less about being ripped off if it occurred online and not in person. We know that sounds bizarre, but its statistically sound.

But Bullion Trading, LLC. cant be deceived. Weve set out to inform every gold purchaser out there of the techniques dealerships are utilizing against them– even if it implies sharing some unpleasant truths of our market.

The reason? We desire every last customer to be as notified as possible. Only then can we sleep soundly at night knowing we back our guarantees that we have the client in mind 100%– no matter what that suggests.

Wish to know how else jewelers are pulling a fast one on customers, and even retailers? Read our next installment, which will focus more on the jewelry market than the coins industry. Thanks for checking out!

Pleased searching!

As you are unquestionably conscious, one of the primary objectives of Bullion trading LLC. The reason we do this is because a well-educated client is susceptible to making great, safe choices when it comes to investing in either bullion or fashion jewelry. In the bullion industry, coins are one of the most popular products. For that reason we advise dealing with a bullion seller who also has a shop that you can easily find through online searches. We merely suggest to state that its simpler for a jeweler or a bullion salesperson to pass along their losses through an online transaction than it is a physical one.

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Terms & Conditions

Trading in gold and other precious metals is risky because the market is volatile. Past performance is not indicative of future returns. This is why we encourage you to read Our Terms and Conditions carefully before making purchases, selling, or placing orders with BULLIONTRADING LLC. Refer to Safety Tips from the CFTC (Commodity Future Trading Commission). These terms and conditions apply to all orders, all purchases, and all sales made through our website, telephone, or other channels.

In the event you do not fully understand the terms of this agreement, BULLIONTRADING LLC strongly encourages you to consult with your own experts. BULLION TRADING enters into transactions with customers on the reliance and belief that clients are aware of, understand, and agree to these terms.

These terms and conditions are effective as of March 11, 2022, and are binding to all new and existing customers and users.

PURCHASES, SALES, AND ORDERS

The prices for gold, silver, platinum and palladium coins and bars keep on fluctuating because of the risk factors that cause price volatility. The risk factors include political development, war, pandemics, demand, and supply. It is important to keep this in mind when transacting with BULLIONTRADING LLC.

The Ordering Process

BULLIONTRADING LLC. Does Not speculate on the prices of precious metals. This means that we don’t make profits by buying gold when the prices are low and selling when prices go up. BULLIONTRADING LLC generates revenue through premium spreads. This is the difference between what Bullion Trading LLC pays & sells these items for.

Orders and inquiries can be made through our website, phone, or other suitable channels. Contact Us for information.

Inquiries

Inquiries are made by customers who are not ready to transact immediately. Customers can contact us or go online at Bulliontradingllc.com to get current market prices. The price quote and quantity available are subject to change. They can also contact us for guidance on buying and selling bullion coins and bars. You should note that the Price Quotations you receive when inquiring are Estimates because the prices of bullion coins and bars fluctuate daily, and the number of our stock changes all the time.

For example, The U.S Mint sets premium and minimum prices for American Eagles. Prices for American Eagles are determined by the current price of gold, silver, platinum, or palladium. The mint also charges a modest premium to cater to the cost of distribution and marketing. Consequently, the price of bullion coins and bars changes daily as the markets for gold, silver, platinum, and palladium fluctuates. Refer to the United States Mint’s Charges for Authorized Dealers.

ORDERS

Orders are made when customers are ready to transact immediately. The prices you get when ordering bullion coins and bars from us are an accurate reflection of the current market prices. Note that once you place an order, the prices are locked and are no longer subject to market conditions.

An order is placed when you finalized negotiations with our agents and an invoice is generated, not when the payment is made. Ordering and then bailing out or canceling after an invoice is generated makes BULLIONTRADING LLC incur losses. We incur losses because when you place an order, we consider the bullion coin or bar sold and will have hedged ourselves accordingly.

Disclaimer: To protect our company from losses, BULLIONTRADING LLC has implemented a Market Loss Policy.

Market Loss Policy Explained

An order starts when you finalize the deal with our agents, not when the payment is made. We generate an invoice immediately the deal is sealed either through our website or phone. We also count the bullion coin or bar as sold and will have hedged ourselves accordingly.

Customers who place orders, have invoices generated, and then cancel thereafter make us incur losses. To protect ourselves we have implemented a market loss policy. This means that you will incur penalties for ordering, having an invoice generated, and then bailing out. Once an order is placed, prices are locked and not subject to market conditions.

The moment you place an order an invoice is generated. If you cancel, and then gold prices decline you make us incur a loss. It is your responsibility to offset this loss if your order is canceled and your funds are returned. If this happens you will pay for the loss caused by a decline in the price of gold after a sale is made plus a cancellation fee of $35.00. This is our market loss policy.

To remain transparent and protect ourselves from risk we might require credit card information from every customer even if payment will be received through a different channel. We also will ask for immediate confirmation of the amount locked in. This gives us an avenue to compensate ourselves for losses in the event a customer places an order and then fails to pay.

However, if the price of bullion coins and bars stays the same, we usually don’t enforce our market loss policy because we don’t incur losses. If the price goes down we charge a market loss fee which is equal to the amount BULLIONTRADING LLC would have lost because of the unpaid order.

PAYMENTS

Bullion Trading LLC only accepts payments in the form of bank transfers, certified checks or personal checks. The method you use to pay us is determined by the number of bullion coins and bars you are willing to buy from us as follows:

  • Orders ranging from $1,000 to $5,500 should be paid via any option listed above and must be received within 2 business days from the time the order was made.
  • Orders ranging from $5,500.01 to $10,000 should be paid by bank wire, certified check, cashier’s check, money orders, or personal check, and must be received within 2 business days from the time the order was made.
  • Orders ranging from $10,000.01 to $25,000 should be paid by bank wire, certified check, and must be received within 2 business days from the time the order was placed.
  • Over $25,000.01 should be paid by bank wire and must be received within 1 business day from the time the order was placed.

If Using A Credit Card You Are Agreeing To The Following Terms:

  • I understand and agree that should I dispute the credit card charge through my credit card provider, I will have breached the contract as well as committed a credit card fraud.
  • I waive any charge-back rights. In the event of a dispute, and I request for a refund it must be made through the Bullion Trading LLC Arbitration Procedure described herein under Bullion Trading LLC.
  • Dispute resolution: I understand that all sales are final. There are NO EXCHANGES or REFUNDS.
  • I cannot receive a refund from Bullion Trading LLC, nor can I request the funds from my credit card company.
  • I also agree to waive any charge-back rights in the event of a dispute.

CONSENT

You agree that you have sufficient experience and knowledge to make informed decisions to purchase from and/or sell to BULLION TRADING LLC. You openly acknowledge that you are making all of your decisions in connection with purchases and/or sales. BULLION TRADING LLC is not making any decision on your behalf concerning purchases and sales.

You also openly acknowledge that you are subject to a variety of risks that are beyond the control of BULLION TRADING LLC. You openly acknowledge that BULLION TRADING LLC is not liable or responsible for the risks you incur while trading with us. Those risks include, without limitation, risks associated with the price volatility of bullion coins and bars. Market conditions or other disruptions such as technical problems may make it impossible for you to liquidate bullion coins and bars bought from us. You have the freedom to liquid the coins and bars at market prices acceptable to you.

RISKS

All investments involve risk – bullion coins and bars are no exception. The value of bullion coins (e.g., American Eagles or Maple Leafs) is affected by many economic factors. The current market price of bullion coins and bars is determined by perceived scarcity and other factors. Some of these factors include quality, current demand, and general market sentiment.

The price of bullion coins and bars keeps on fluctuating and this means that they are not a suitable investment for everyone. Since all investments, including bullion coins and bars, can decline in value, you should make an informed decision. It is a good idea to have adequate cash reserves and disposable income before investing in bullion coins and bars.

INDEMNIFICATION

You shall indemnify and absolve BULLION TRADING LLC and its affiliates, directors, officers, and shareholders collectively. You agree to compensate the indemnified parties for and against any costs, damages, expenses, liabilities, and obligations. They include without limitation to reasonable attorney fees that the Indemnified Parties may incur as a result of, or in connection with:

(a) Any breach of any representation or warranty made by you to BULLION TRADING LLC or,

(b) Failure to comply with these terms and conditions or the policies adopted by BULLION TRADING LLC.

LIMITATION OF LIABILITY

You acknowledge that you are subject to the limitations of liability contained in these terms and conditions, the disclaimer, and other policies adopted by BULLION TRADING LLC.

If you suffer indirect, punitive, or speculative damages BULLION TRADING LLC is not liable to you. Any transaction between us and you pursuant to these terms and conditions, and any liability of BULLION TRADING LLC to you shall be limited to:

(a) The amount, if any, that you paid in such transaction or,

(b) $100 compensation. We are not, in any event, liable for any indirect, punitive, or speculative damages.

PRIVACY POLICY

BULLION TRADING LLC has adopted a Privacy Policy that is included in these terms and conditions. Our privacy policy protects your identity and credit card information.

BULLION TRADING LLC privacy policies are found in the Disclaimer, Ordering Policy, and the protection of credit card information. These terms and conditions may be updated from time to time depending on the market forces and the legal landscape.

DEFAULT RIGHTS AND REMEDIES

Upon any failure by you to comply with your obligations to BULLION TRADING LLC, the company shall pursue the rights and the remedies available to us. Either by law, through equity, or otherwise. It includes without limitation rights and remedies under these terms and conditions.

Breaching our rights may make BULLION TRADING LLC turn your account over to a collection agency, or a lawyer for collection. BULLION TRADING LLC will not fail in exercising any rights or pursuing any remedies in the case we suffer losses or damages.

Note: Failure by you to comply with these terms and conditions, may make BULLION TRADING LLC charge the credit card on which you have provided. This includes without limitation any and all market losses incurred by BULLION TRADING LLC, including cancellation fees, for ordering and then canceling at the last minute. You openly authorize BULLION TRADING LLC to charge your credit card for all losses caused by you violating our ordering policy.

RELATIONSHIPS

BULLION TRADING LLC is an authorized dealer and a professional organization. We maintain a professional relationship with all our clients. We don’t enter into relationships such as agent-principal relationships, employee-employer relationships, franchisee-franchisor relationships, joint venture relationships, and partnership relationships with our clients.

ANNULMENT

You cannot forfeit these terms and conditions, your rights, or your obligations as they apply without the prior written consent from BULLION TRADING LLC. You may be granted permission to forfeit your rights or it may be withheld by BULLION TRADING LLC at its sole discretion. These terms and conditions shall be binding to all parties that trade with BULLION TRADING LLC.

COSTS AND EXPENSES FOR COLLECTION

If you violate these terms and conditions BULLION TRADING LLC will take action against you. It may include without limitation, turning your account over to a collection agency, or a lawyer for collection. You shall pay all of the costs and the expenses incurred by BULLION TRADING LLC, including without limitation to reasonable attorney’s fees.

DISPUTE RESOLUTION

BULLION TRADING LLC maintains professional relationships with clients. This is why we make sure that any grievances are resolved expeditiously. We agree that all disagreements and disputes with our clients should be resolved in accordance with the provisions below.

Because we value the relationship with our clients, we opt for arbitration or mediation as a channel for dispute resolution instead of going straight to state/federal courts. However, if arbitration or mediation fails, we may be forced to take legal action in state/federal courts in the State of New York.

GOVERNING LAW

These terms and conditions are governed by and interpreted in accordance with the laws of the State of New York. These terms and conditions do not take into consideration the possible violation of laws in other jurisdictions.

WAIVER OF JURY TRIAL: ARBITRATION

BOTH BULLION TRADING LLC AND YOU HEREBY WAIVE THEIR RIGHT TO TRIAL BY JURY IN CONNECTION WITH ANY DISAGREEMENT OR DISPUTE RESULTING FROM, OR IN CONNECTION WITH THESE TERMS AND CONDITIONS; OR THE TRANSACTIONS UNDER THESE TERMS AND CONDITIONS. Both BULLION TRADING LLC and you also waive any arbitration requirements to which they might be subject.

FORCE MAJEURE

If BULLION TRADING LLC cannot perform any obligation hereunder as a result of any event that is beyond its control, the company shall be excused and shall not be liable for any damages as a result of, or in connection with, such delays, or such failures.

FURTHER ASSURANCES

You shall sign and avail other documents, or take actions that assist BULLION TRADING LLC in enforcing the provisions of these terms and conditions.

NOTICES

Except as provided in these terms and conditions, all notices, and other communications to BULLION TRADING LLC shall be directed to it at 20 West 47th Street Lower Level #24, New York, NY 10036. All notices and other communications to you shall be sent by BULLION TRADING LLC, to the address that you provided to us at the time of your registration, or to the email address that you provided to us at the time of your registration.

RECORDING OF PHONE CONVERSATIONS

BULLION TRADING LLC may record phone conversations between you and company agents or representatives. You consent to the recording of such phone conversations.

ABSENCE OF WAIVERS

A decision or a failure by BULLION TRADING LLC to take action with respect to any non-compliance with these terms and conditions does not affect the ability of the company to enforce the terms and conditions with respect to other violations. Whether the violations are similar or dissimilar in nature.