The value of products made of precious metals, such as gold, silver, platinum, and palladium, is determined mainly by the content of pure bullion and at the same time the actual price on world markets. An informed customer should not follow or trust unknown sellers who try to prove the authenticity of bullion products. On the other hand, the customer should also not rely only on the information stamped on the product or written on the certificate.
It is commonly said that “a wise man after the event“, and unfortunately in the case of the precious metals market this term also finds a group of people with whom it can be associated – and yet a professional verification of authenticity and valuation of coins, bars or jewelry at a precious metals dealer is a quick and proven way to avoid an investment blunder, loss of capital or even legal trouble.
How much does it cost to verify precious metals?
Naturally, there is an extra fee for this service, however, making sure that the product you intend to buy or have just bought is in order is a very small cost compared to the real value of the precious metals and the price you will eventually pay for the item.
The exact price list for the verification of precious metals service at Tavex for aftermarket products is as follows:
|Subjects to be verified
||Cost of checking 1 piece
|Metals in investment form, i.e. coins and bars
|Jewelry, e.g. rings, bracelets, chains
Verification of precious metal – is it worth checking jewelry, bars or coins before buying?
While in the case of a decision to buy investment precious metals from a well-known and highly reputable dealer – such as Tavex – or to buy jewelry from a large and recognizable jeweler, concerns about the authenticity of the bullion can be safely put aside, in the case of higher risk transactions, which include purchases in places with little recognition or with a dubious reputation, and above all transactions carried out on the secondary market, i.e. between private individuals, such concerns may be most justified.
The most common argument for buying and selling on the secondary market is the possibility of obtaining a more satisfactory price for both parties to the transaction. However, the apparent saving or greater profit may cost you much more than the difference in the price you get.
How to secure your precious metals transactions on the secondary market?
Staying with the theme of sayings, it is definitely better to start using that “better safe than sorry“. If your decision to conduct a secondary market transaction is final, try to secure it in every possible way. To begin with, find out what to look for in general when buying precious metals. Also, find out what unique characteristics the product you will be transacting in has.
The best thing you can do, however, is to enlist the help of a broker – after all, dealing on the secondary market does not mean that you cannot verify the product with a professional. It is just like buying a second-hand car and asking the nearest service center or garage to carry out a pre-purchase inspection. You can do the same when buying precious metals in any form – simply visit one of our branches and ask any of our Customer Service Specialists to make a professional verification of precious metals and value the products you bring in.