Precious metals is a market where quality verification is of paramount importance. The trust of our hard-won customers is important to us and we take every step to ensure that our customers are 100% satisfied that the products they purchase from our site are genuine and can fetch a great price when resold. This is especially true for new customers.
Experienced and savvy investors are reasonably knowledgeable about how to check and verify the genuineness of the gold and silver they buy and the purity of the metals. But, customers who are new to buying gold and silver are concerned whether the products are authentic and of a high grade. Any gold or silver investor is keen to ensure that they do not end up with counterfeit coins and bars. Therefore, for a novice, the safest option is to ensure that they deal with a reputed dealer.
Risks associated with online gold and silver
The risk is even greater when dealing with an online trader
as it may not be possible to physically verify the contents prior to purchase. The anonymity offered by the internet is often used as a screen by rogue traders who hide behind a great looking website and can ply their trade, ripping off new customers by simply duping them and taking payments online. The gaps in the legal system in the UK allows these fly by night operators to simply fold up their limited company when it gets too hot for them to continue and move on. At Physical Gold, we believe that running a service that’s transparent, ethical and fair and by working in collaboration with other reputed players in this industry will eventually tip the balance tips and ensure that rogue traders have little or no market remaining to operate in.
The importance of quality for numismatists
The numismatic market has developed dynamically across the globe and prompted the need for specialised services dedicated to the grading of coins. The modern grading system, which operates a 70-point grading scale was developed by William Sheldon in 1948. Grading is required by those collectors who are keen to establish the authenticity and actual grade of the coins they possess in their collection. Needless to say, the system can be somewhat subjective and over grading or under grading of coins is not uncommon. This is exactly why a standardised international grading system needs to be in place, to certify the condition of the coin, its rarity and its authenticity. Often accurate grading is an all-important factor that determines the actual value of the coin that the numismatist can expect to receive when selling the coin. This helps generate greater confidence in the market and is a crucial driver for the growth of numismatics worldwide.
At Physical Gold, we are absolutely determined not to let poor quality or dubious coins and bars contaminate our inventory. We research every dealer or provider we work with and we only work with trusted suppliers in the market. To this end, we ensure that we always receive our stock from reputed manufacturers or international mints. When we do business with any dealer, we always check their credentials in advance. That does not mean we do not buy gold and silver from the general public. It’s just that when we do, our highly trained team of numismatists are tasked with the verification and testing of each item before we accept them. When customers purchase precious metals from our site, we always provide a certificate of authenticity that says that the genuineness of the product is guaranteed and meets our stringent standards. We also offer all our clients a guarantee to buy back anything you purchase from us. We work closely with certification, verification and grading agencies internationally, as under:
One of the most reputed international agencies, the Professional Coin Grading Service (PCGS) is a pioneer in setting international standards, by establishing a universal grading standard. Set up in 1985, PCGS is one of the most reputed third-party certification agencies, trusted by numismatists all over the world.
The Numismatic Guaranty Corporation (NGC) is another internationally trusted third-party verification service we work with. NGC is committed to providing numismatists with a high degree of accuracy and consistency in the grading of coins. Established in 1987, the NGC has graded in excess of thirty-nine million coins from across the world.
The Professional Numismatists Guild was set up in 1955 and concentrates mainly on the US market. It is an important industry body and builds transparency in the industry by regulating numismatic dealers.
Physical Gold is a member of the British Numismatic Association (BNTA). Membership of the BNTA is awarded only after an extensive due diligence process that involves stringent verification and approvals procured from existing members. We see this as a stamp of confirmation of our integrity by the industry and are proud of it. All BNTA members are immediately alerted if any counterfeit gold or silver is spotted, so we become aware of fakes even before the item reaches us, if at all. The BNTA logo is a stamp of accreditation and we always advise our customers to look for it on a dealer’s website.
Call the Physical Gold Team
If you are in the market to buy gold or silver and are unsure of its authenticity, call our team of experts on 020 7060 9992. You can of course, certainly rest assured that anything you buy from us has already been through the process, guaranteeing your peace of mind.