Protecting Yourself When Making a Gold Buy

Before you head off to meet someone to buy gold, it is critical to follow a few important steps. After all, you may be walking around with a few hundred dollars of cash in your pocket to buy gold, and if you have a successful buy, then your purchase will be on you afterwards. You need to be safe.

Tell People Where You Are Going

Going to Buy Gold

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Before you leave to meet your seller, tell someone you trust where you are going. Give this person specifics about where you plan to go, what time you plan to meet someone and what time you’ll be home. This way, if you don’t come home on time, they know exactly where you were last. Never leave home to meet with a stranger if you haven’t shared the destination location with someone. Let them know what you are doing, too.

Meet in a Public Place

Public Place

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Your transaction is legal. There’s no reason to meet in an alley someplace. Choose a coffee shop or a diner. Be sure it is busy enough that there is someone else there when you plan to meet someone. Choose a busy time of the day, if possible, to ensure there are enough people there to notice you. Keep in mind, someone may ask you what you are doing. Be honest. Tell them you buy gold. They may want to sell to you, too.

Be Discreet When Handling Cash

Discreet Cash

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Instead of pulling out a stack of $100 bills, it is a better idea to keep them in separate pockets. Take out just what you need. For example, if you plan to pay $500 for the purchase, count out five, $100 bills in your pocket before pulling it out. As long as you have the same denomination in bills, you don’t have to remove them from your pocket to know how much you are taking out. Though you may trust the person sitting across from you, the chance someone else will see you with a stack of cash is high.

Avoid Confrontations


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When you test the gold for authenticity, the person selling to you may question your methods. Instead of allowing a confrontation to occur, tell the individual what you are doing and how the system works. Keep the dialogue during the conversation positive and upbeat. You do not want the other person to think you are taking advantage of the situation. If they ask what you do with the gold, tell them you hand it over to your boss or try to find a buyer. Don’t brag about the money you are making.

At the end of the day, you just want to make the transaction a smooth one. Be quick about it. Get in and get out without making too much of a scene about the process. Both parties will appreciate this.

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