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Which gold/silver dealers are best?

Posted by John Reed on

My late brother-in-law was into gold and although he lived in the Boston area, used The Tulving Company and Cornerstone Bullion. He switched from the former to the latter. Look at what I got when I Goggled Tulving company:

• The collapse of Tulving Company Coin Week March 29, 2014
• Federal Judge Sentences Coin, Precious Metals Dealer Hannes Tulving in $15 Million Fraud Case 2/22/16
• Costa Mesa-based coin dealer pleads guilty to defrauding customers of more than $15 million in merchandise
• Not accredited BBB

This is why I am trying to be very careful and get recommendations.

Gold Dealer Reviews says Cornerstone gets perfect scores in all four areas: overall, ship time, customer service, and buying experience. Conspicuous by its absence is comment on their price to spot ratio. I wonder if Gold dealer reviews is owned and operated by gold dealers.

A site called Gold IRA Guide ranks them 3rd best and lists other ratings like BBB A+.

Trust Link gives them a perfect rating based on three subjective customer reports that focus on how they were treated.

It would appear that if I do the article about comparing price-to-spot ratios and shipping costs, I will be the only one. The other things like shipping time and customer service are mildly interesting but the key issue is the price to spot ratio the dealer gives you and shipping cost is a distant second.

Maybe I will include a heavy TV advertiser or two in my buy simultaneously from multiple dealers and show their price to spot ratio and shipping cost to the whole world. That would be interesting. Another rule of economics says that if you buy from a company that heavily advertises on TV, the cost of that advertising will be in the difference between seller’s cost and the price you pay or get, e.g., MyPillow.com, Rosland Capital, Lear Capital

Another way to compare dealers is the spread between their buy and sell prices. My local Wells Fargo has them on the wall regarding foreign currencies and their spreads are huge.

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