You have probably heard a lot about precious metals in the past few years and you need to know – are they a legitimate investment, or is it all a scam? Sometimes, we see things that seem too good to be true…and it usually turns out that they are. You do not want to invest a lot of money in something that may turn out to be a scam, especially when you are buying it as an investment in your future.
You always need to do your own research to find out the answer to these questions, you do not need to rely on just one article that you find on the internet. You can research 7K Metals Scam or Legit to see if the precious metals that you want are legitimate or not. Look for all the articles that you can to help you to determine the truth.
This article will give you some information about these precious metals and what others think of them. Again, you do not want to depend on this article or any one article, but this article can work with others to help you to know if they are a scam. You also need to make sure that you choose a legitimate metals broker if you do decide to buy them.
Signs of a Scam
There are many signs that the person that you are dealing with is a fraud and the metals that they try to sell you are not true precious metals – at least not pure precious metals. Listed below are some of the statements that are made that can be a scam. Be careful who you do business with so that you do not end up losing all your retirement investments. The tips below can help you to save your investment dollars.
- The dealer tells you that you need to invest quickly due to a recent disaster such as the pandemic. If you hear the dealer say something like this to you, run the other way as quickly as possible. They are trying to scam you out of your hard-earned money. They know that you are worried about your investments, and they want to take advantage of that worry. You will probably end up losing money if you buy from them.
They will probably talk you into buying “collectible” coins or jewelry that are nothing more than cheaply made knockoffs if you are lucky enough to get anything to show for your money. You can look here if you are looking at collectibles, this site will share information about real collectibles. Sometimes these people will convince you that they will “hold” or “store” your precious metals and you will never see them. They will convince you that your investment is safe with them, and you will have nothing in reality.
- Be wary of people who call themselves “metals dealers” or “merchants” because these people are usually fraudulent. They will try to convince you that they are the only experts that you need to listen to all the while giving you false information. You want to make sure that the person you are speaking to really is legitimate. If you are unsure, do not do business with them until you have checked them out more thoroughly.
If you want to do business with a legitimate metals broker, make sure that you are calling them and you are not listening to someone who has called you without you previously contacting them. If they cold call you, they are probably not a very legitimate person.
- If they are advertised on the television or radio or social media, you might want to check them out more thoroughly. A reputable precious metals dealer will not need to advertise, they will get their name out by word of mouth from satisfied customers. They will not try to hard sell you anything once you arrive at their place of business or talk to them on the phone. They will listen to what you want and go from there.
A reputable business will make sure that they are trying to satisfy you and not hard sell what they want you to buy.
- If the person asks you for personal information run the other way as fast as possible. They might just be someone phishing for your information. As a matter of fact, if anyone calls you and asks you for personal information, do not give them that information. They are most likely a scam and will use that information for nefarious purposes.
You should never give personal information such as your name, address, phone number, or any credit card information. Unless you have called them and know for sure that you are talking to a reputable company, do not give this information to anyone. You can read here for more information about companies who fraudulently ask for this information: https://infocarnivore.com/10-guidelines-on-when-to-give-out-personal-information/. This site will help you to spot a fraud and not get taken advantage of.
- If the person tells you that they are a broker or salesman from a “reputable” business to promote a specific precious metals purchase, tell them that you will call them back and then call the business yourself. Do not use the phone number that the person gave you, do some research and find the phone number yourself. More than likely, the person that called you is a fraud, and it is a scam.
A reputable business will not call you and try to persuade you to fall for the latest deal. They do not need to because they get plenty of business in a reputable way. They do not need to make calls to people that they have not worked with because they have plenty of business already.
These are just a few of the signs that you are working with a fraudulent dealer or that the business is a scam. You need to do your own research and read reviews of the company that you want to do business with. Call the Better Business Bureau and your state’s attorney general’s office to check out the businesses. You want to make sure that you are doing business with a reputable business, especially when you are investing that much money.
Again, make sure that you do not give any personal information to anyone who calls you. If someone wants you to give that information, tell them you will call them back. Then call a phone number that you know for certain is legitimate and, if necessary, you can give them the information that they need.