Price Of Gold And Silver – Are You Getting The Lowest Prices?

How do you know if you are getting the “Best Prices” on your gold and silver purchases?
There are so many people these days who are buying gold and silver as fast as they can. They are searching for silver price news, spot silver prices, and for the best silver prices and gold prices. As you are buying from various brokers, you really need to be extra careful about the hidden fees that often only show up in the check out process.
Some gold & silver brokers will attempt to lure you in with specials and low advertised prices. They use every trick in the book. On the surface, the price may look great. Don’t get too excited just yet.
You know the expression, “Look before you leap”? That’s good advice. Often they bait you with a low price, but when you go through the check out process… they slip in all kinds of hidden fees that seem to come out of nowhere.
These fees can really add up. In fact, some dealers break even, or even lose a little on their listed metals prices, but really cash in and make their real profits from the hidden fees that they charge.
The fees are their profit centers and by design, that is their method of operation and how they make their profits.
These are just some of the types of hidden fees that some dealers slip in at the last moment:
Shipping fees Insurance fees Payment processing fees Commissions Broker fees Processing fees Handling fees FedEx fees
many more fees that they simply make up and charge customers so they can generate their profits during the end of the purchase.
The sad part is, many of these fees simply do not appear anywhere on their website or in print…. until you are part of the way through the check-out process.
They are aware of the issue that, if they clearly published or disclosed these fees up front, it would likely dissuade you from buying from them.
That’s why they bury them in the check out process and possibly in the fine print somewhere on their site.
They count on the fact that you will have a conversation like this in your head, as you are checking out:
“Man, where did all of the fees come from? Why didn’t they tell me about these before I got this far in the purchase process? This is going to add a lot of cost onto my order. Yikes, can I afford these additional fees? If I would have known this in advance, I would have keep shopping for brokers. I am really upset about this. Wow, silver just went up another $.05 per ounce… and my price is locked in here. If I stop the check out process now, and go searching around for a new broker, silver could continue going up and I may end up paying even more for it. Damn. I guess I would be better off to just go ahead and buy now and get it over with. After all… if silver keeps going up… all of these extra fees I am paying will not be a big deal. Okay, let’s get this over with and move on. Click… Purchase Button. Done.”
Can you relate to that? That’s how they do it. That’s why they hide the fees. That’s why it works so well. For the most part, people are predictable. They understand human nature and how most of us will react. Not all, but most of us.
The learning lesson here is, don’t commit to buying until you know ALL of the cost. Sometimes you really have to press them, to get them to admit all of their fees up front. Don’t be timid, ASK.
And, if you are just checking online, and you don’t want to have to deal with the hassle of calling a sales person to try and find this out, here’s what to do.
Go ahead and put in an order for what you want purchase. Put in the exact quantity of what you want to order also, and add it to the cart.
Continue the check out process as long as it will allow you to… right up to the point where you have to click the final PURCHASE button… and see the grand total of all of the fees they will charge you.
Don’t click the purchase button… just get as far as you can without making the purchase final. It’s amazing how many of them use these tactics. Now that you know to expect them, you can be a much more informed shopper.
Personally I despise this tactic. I believe in the old way of simply laying it all out there, and letting the customer make up their mind knowing all of the facts.
If you have to “hide” your true costs and “slip” them in at the last moment in order to get your customer to buy from you… I just don’t think that’s the kind of broker I want to deal with.
If they do that to you once, they will do it to you again. You will always have to keep your eyes open, not knowing where they are going to slip something else in on you the next time.
If you like to play games, maybe you will like this kind of thing. If not, I promise you there are much better people to deal with than brokers like this.