How To Place an Order to Buy or Sell
You've done the reading, asked the questions, and you're ready to buy (or sell) a definite amount of gold, silver, platinum, or palladium. If you've decided to place your trade with Rare Coin Galleries, you may do so by coming to our store in person or by calling our offices during our business hours. Our procedures are similar in many ways to those used by most stock brokerages, that is, you may place a buy or sell trade at a fixed, guaranteed price by phone or in person. Unlike most stock brokerages, however, we do not require the filing of any formal 'account agreements' or an existing 'account' to begin effecting a trade.
All orders to buy or sell are considered legal verbal agreements (as with stock trades) which are enforceable in a court of law and for which you are obligated to perform. That is, by placing an order to buy a fixed amount of gold or silver, for example, you are agreeing to the total price quoted to you, the terms of payment, and the requirements of the brokerage placing/accepting the trade. Unlike stock trades, settlement of precious metals purchases must be effected within twenty-four hours of the time the trade is confirmed unless other arrangements have been agreed to by the seller or brokerage.
In general, when we accept a phone order at Rare Coin Galleries, we expect payment for the purchase within twenty-four hours unless you are located out of the immediate area and are mailing your payment that same day. For new customers, we do require a security deposit by way of a bank credit card (VISA or MasterCard) to guarantee the trade, pending receipt of your payment. Should you fail to perform, your credit card account would be charged the cost of "reversing the trade, that is, the difference between your purchase price and the price at which the products were resold to the supplier.
Acceptable forms of payment for purchase of precious metals are personal checks, cashiers' checks, or cash. All personal checks, however, must 'clear' our bank before delivery of the products is completed, normally a waiting period of seven business days for local or money market account checks. When products are in stock and available, we do give immediate delivery for payments made by cashiers' checks or cash. This may not always be possible due to increasing demand and supply delays in the wholesale markets, however. Normally, most sales are completed within twelve business days, again, similar to the purchase of stocks and bonds. Smaller purchases are generally settled at the time payment is made; larger orders may take up to thirty or more business days, depending on availability, which has remained ver tight over the past year!
If it is inconvenient for you to come into our offices in Issaquah, we can arrange to ship your precious metals purchase directly to you by Registerered Mail. There is a small charge for this service to cover the cost of the actual mailing, and your goods are fully insured against any loss or pilferage for the amount of your purchase price. We ship hundreds of packages each year via Registered Mail with rarely any problems or delays to the recipients.
If you wish to sell precious metals, we offere competitive buy quotations by phone or in person throughout the business day. We normally settle smaller sales to us immediately by company check or cash; larger sales are settled within seven business days. If you have sold stocks, bonds or mutual funds in the past, the normal settlement period for such sales can often extend from seven to ten business days before you recieve your paryment. By contrast, the sale or purchase of precious metals is generally faster if not immediate!
With fourty-seven years of continuous business here in the Northwest, we have never failed to perform on an agreement to buy or sell with any retail or wholesale customers. Our reputa- tation as one of the leading dealers in rare coins and precious metals in our area and our record of flawless performance in all of our transactions assures our customers friendly and professional service, competitive pricing, and the guarantee of dealing with an established and trusted firm. We're here to serve your needs, not just our own! We're more than happy to provide bank and professional references as a further assurance of our stability in our community and throughout the industry.
OUR SERVICES AND RECOMMENDATIONS
For many of us, the purchase (or sale) of precious metals or rare coins or collections can be a new and unsettling experience. Here at Rare Coin Galleries of Seattle, we'll try our best to make it both satisfying and less stressful whether it's your first venture into this unique, specialized market, or you've been buying and selling for years. We strive to personalize each customer's needs as if they were our own and to provide you with the knowledge of the products you are buying or selling and assurance that the service you receive is professional and very thorough. Regardless of the size of the purchase or sale, we treat each customer with the same level of attention given to their needs and expections.
As you make your decision to buy or sell, feel free to call or stop by to discuss your goals with any of us. Our concern is in providing you with the information you are seeking to make knowledgable choices beforehand. The vast array of choices, sizes, names, shapes and content among the Precious Metals products are, indeed, amazing and mind-boggling! Obvious popularity among collectors and investors in recent years has given rise to these many offerings and has often added to the confusion faced by the first-time buyer. While we, too, deal in a wide array of precious metals products to serve the individual preferences of our many clients, we strongly offer these recommendations to all our customers:
1. Choose the most frequently traded Bullion coins or name-brand bars which usually carry the lowest premium (cost above their "melt" values) and are the easiest items to liquidate quickly in any markets throughout the world;
2. Buy the appropriate-sized coins or bars to fit your individual needs and expectations; that is, when you get ready to sell at some future date, do you want smaller-sized coins or bars to liquidate gradually or will your needs be met by selling 100-oz. Silver bars or 10-oz. Gold bars and so forth;
3. Order from established, reputable companies -- whether you choose to buy through Rare Coin Galleries or some other firm, deal with reliable, fair sellers who have a proven "track record" and will secure your coins and bars at competitive prices in a reasonable time period and without any surcharges or additional 'handling fees' ;
4. Compare prices and services whether you're buying or selling. We may not always be the 'higher buyer' or lowest seller around, but we will try to be competitive and fair on all transactions and provide you with answers to any questions you may have about market conditions, availabilty of various products, and our recommendations to meet your goals and expectations;
5. Protect your purchase by securing your precious metals in a safe place, whether a bank vault or private vaulting facility, or, as many prefer, in home safes or hidden places nearby. While even bank vaulting is not always a guarantee of security, most safe deposit box contents are covered by the bank's insurance if not your homeowner's policy as well. Keep receipt records seperate and available to be able to prove losses if such occur;
6. Track your precious metals investments just as you would with stock, bond, or real estate purchases. All markets fluctuate over a time period and the precious metals are no exception to this proven rule. There's always a good time to buy or add to your holdings as well as a good time to sell and take a profit. Most major newspapers, several radio stations, and many precious metals dealers offer daily quotes on Spot Market prices. In our modern computerized world, there are numerous Internet sites for up-to-the-minute quotations.
Hopefully, this information will assist you in 'navigating' through the world of Precious Metals and prepare you for any future business you may do whether with Rare Coin Galleries or other dealers. Again, we are always happy to answer your specific questions -- some of which may not have been covered here -- so don't hesitate to call us at the shop or drop us an email and we'll promptly answer you.
Second Page: Confused? Page Four: Terminology