Gold coins have for many years been a popular investment, but where there’s money to be made, scammers are usually not far behind. Don’t let your hard-earned cash fall into the wrong hands. Below are a few tips to help you steer clear of gold coin scams.

Know The Dealer

First things first: do your homework on the dealer. A little research can go a long way in avoiding shady operators. Look for well-established companies with a solid track record. Check out online reviews, but don’t stop there. Check if they are members of a reputable trade organization like the Professional Numismatists Guild.

Beware of High-Pressure Tactics

If a dealer pushes you to buy right now because they have a “once-in-a-lifetime” deal that just happens to expire today, you should immediately smell a rat. Legitimate dealers understand that investing in gold coins is a big decision and won’t rush you unnecessarily.

Understand the True Value

Also make sure you know the difference between bullion coins and numismatic coins. Bullion coins are valued based on their gold content, while numismatic coins have additional collectible value. Stay away from dealers who try to sell you ordinary bullion coins at inflated “collectible” prices.

Get It in Writing

Always insist on detailed, written documentation when you buy gold coins. This should include the coin’s weight, purity, and agreed-upon price. If a dealer tries to shy away from this, walk away.

Trust Your Gut

If something feels off, chances are it probably is. Do not ignore your instincts just because you’re excited about a potential investment. There are plenty of legitimate dealers out there, so there’s no reason why you should settle for one that makes you feel uneasy. In the long run, vigilance always pays off.