When choosing a precious metals refinery, you probably know you should consider references and the length of time the refiner has been in business, but here’s something you probably wouldn’t think to ask: What payment options do your offer? Most refineries utilize bank wire transfers and checks are used, which are fine. Dillon Gage, however, offers something different as payment: bullion. The gold bullion is offered at market prices along with other industry offerings. There are a lot of good reasons to consider bullion. Here are just a few of the facts you should consider when requesting bullion as payment:
- If you are a retailer, you can increase your profits by taking your payment in the form of bullion and reselling these coins and bars to your customers. By doing this you give the customers more reasons to return to your shop.
- Precious metals are considered a “store of value” by many financial experts. In today’s uncertain economic times, owning bullion can protect you against the decline in value of some of your other assets. Converting your scrap to bullion coins or bars is an excellent way to acquire this asset.
- You are not required to report gold coin purchases to the government. There is not a branch of federal, state, or local government that tracks who owns gold and/or how much they own.
- Bullion is certifiable due to the maker’s mark and the statement of weight and fineness that is stamped directly onto the bullion. In effect, each piece of bullion carries its own “certificate” from its home mint or refiner.
- Some gold, silver and platinum coins can be put in your IRA, but you will need a custodian, such as an authorized depository, to hold the bullion in your name. Compare annual storage fees and the initial set up fee to find the best storage for your needs.
- The purity of the metal is extremely important and varies from coin to coin. Today’s bullion coins range from 90% pure – in the case of the American Gold Eagle and South African Krugerrand – to 99.999% pure for Canadian Maple Leafs. The good news is you don’t have to guess with most bullion products as they are stamped with their exact purity.
If you have been using other payment methods, perhaps now is the time to look into using bullion as payment. Dillon Gage offers beneficial options as one of the largest precious metal dealers in the United States.