My Gold News | 21 February 2023

Buying Silver in America - A Good Idea?

News Featured Logo

If you are thinking about buying silver or gold, it makes sense to consider all of the available options. Though there is some risk in buying from an offshore provider, you can save some money buying precious metals overseas. Even if the deal goes awry, you will have some remedies at your disposal to retrieve your money or obtain the gold/silver promised. When in doubt, your best option is to stick with a known and trusted provider right here in New Zealand. MyGold products are sold with a full guarantee: your gold is guaranteed to be delivered at the price agreed upon in a reasonable amount of time. Furthermore, MyGold pieces are guaranteed to be brand new and uncirculated.

Does it Make Sense to Buy Silver in America?

If you are insistent on getting the lowest possible price for silver and/or gold, you should consider buying these precious metals from American merchants. The New Zealand dollar recently fell about 2% to $0.6613 US dollars, its lowest level since the spring of 2016. The fall is the result of the Reserve Bank of New Zealand deciding to maintain interest rates at lows across at least the next two years. The decision came in response to an unexpected drop in economic activity. The decline of the New Zealand dollar means it might make sense for some precious metals buyers to consider overseas options. The US dollar is increasing as investors across the globe insist it will continue to gain favour over other currencies amidst the brewing trade war. Though you might be able to save some money buying gold and silver from American merchants, this approach is risky for several reasons. For one, you cannot visit American merchants unless you take a trip abroad. The cost of the trip would offset any savings from the lower cost of the precious metals. Furthermore, you run the risk of the precious metals being damaged during the shipping process. After all, New Zealand is located far away from the United States. Even if the precious metals make it to your doorstep, they might not be exactly as promised. Can you imagine receiving gold and silver from an American precious metals dealer that turns out to be broken or marred in another way? The cost and logistics challenges required to send the precious metals back to the seller would prove quite frustrating. Finally, buying from an American dealer is risky simply because there could be extensive delays in shipping. There is no guarantee your gold and silver will be delivered on time. In fact, there is a chance the delivery will be lost or damaged mid-shipment. 


Potential Remedies for Disappointing Precious Metals Purchases From America

It is clear plenty can go wrong when buying gold and silver from American precious metals dealers. However, Kiwis who purchase from merchants in America have avenues of recourse if the precious metals are never delivered, damaged, late or flawed in another manner. For one, threatening to file a complaint with the United States’ Better Business Bureau (BBB) will motivate the precious metals merchant to meet your demands. You can also let the American precious metals dealer know you will post negative reviews to American online directories to let the masses know of your negative experience with the business. If you are planning a sizable purchase from an American dealer, contact the business directly to negotiate the price of the precious metals and shipping. Negotiate no-cost or low-cost shipping along with a guarantee the precious metals will be provided exactly as described. Push for a guarantee that the precious metals dealer will pay the cost of return shipping in the event the gold and/or silver do not look exactly as marketed or have substantive imperfections.

Buy Your Gold and Silver From MyGold

Buy from MyGold and you won't have to worry about the challenges posed by offshore precious metals providers. We will provide you with the gold and silver you covet without delay, at the optimal price, and in uncirculated condition. Furthermore, your gold and silver will be provided at the price originally agreed to. This is the hassle-free gold buying experience every Kiwi deserves. Contact us today to learn more about our offerings. You can reach our team to learn more about investing in gold by dialing 0800 465 369. Prospective precious metals buyers can also contact us through our convenient online Contact Form. If you prefer to reach us through email, send a message to [email protected].