Purchasing precious metals, whether for the long term or the short term is a shrewd plan, according to experts, because gold, compared with fiat currencies, is not as volatile.
With the market quite unpredictable, more people are now investing in gold to safeguard their savings, but with this comes the result of running out of supply. Gold is a commodity and therefore its values are determined by the laws of supply and demand.
Every time the economy is not doing well, the demand for precious metals is usually greater because traders use the precious metal as insurance or safeguarding from financial or geopolitical crises.
Because more people are now investing in gold, dealers are sprouting like mushrooms. Although some have exceptional reputations and superior rankings, others don’t. That’s why it is vital for people who are planning to invest in gold or in any other precious metals to research first about the company they are planning to buy from.
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There are a number of strategies to learn whether a gold enterprise provides high-quality services or not. One is to check out ratings from reputed rating websites and another is to read reviews about those organizations.
Northwest Territorial Mint is a Washington-based full-service mint that trades precious metals and sells minted goods. The company has been in the business of creating and designing knives, medallions, and coins since 1984 and has been well known for its workmanship ever since. Northwest Territorial Mint provides a variety of items and is nowadays the largest private mint in the US.
Based upon a Northwest Territorial Mint Review, the organization has a general score of 4.5 out of 5. The review also states that the order arrived in its destination earlier than stated. While this is a positive review, some other comments on the mint company warn precious metal customers to refrain from doing business with them due to their unwillingness to release funds and their failure to complete orders.
An additional concern brought up in that particular review is the condition of the goods delivered to the buyer. They are said to be scratched and are certainly not in mint condition even if they were labeled as “new” on the company’s site.
One of the greatest problems, however, is the time that it takes for the organization to send the products. One review posted on Gold Deal Reviews says that the order was placed the middle of September in 2013 and only arrived months later.
Back in the year 2008, a lawsuit was filed against Northwest Territorial Mint. By September that same year, the office of the Washington Attorney General issued a press release that Northwest Territorial Mint must “honor its promises” in delivering orders in time or give a refund to those whose orders were not delivered on time.
A company which has been sued for its shipping practices is a cause for concern even if the business has its arguments as to why it takes longer for them to deliver precious metals to the buyers than it takes other companies.
Still, one must be aware that while Northwest Territorial Mint is fairly sought after, it is essential for them to disclose to their buyers the true reasons why these buyers’ orders are not posted on the schedule.
The lawsuit filed in February 2008 accused Northwest Territorial Mint and its president Mr. Ross Hansen of violating Washington’s Consumer Protection Act by providing a false representation of their delivery dates and by enforcing what the Attorney General’s Office described as an unfair refund policy. The lawsuit was also filed in view of an absence of response to consumer complaints on the side of Northwest Territorial Mint.
The State of Washington affirmed as well that the company and its president continually failed to send items acquired at the time frame given by the company itself and that clients who filed the complaints at the government office waited several months before receiving the bullion they had invested in.
It is important to note that the Washington-based Northwest Territorial Mint did not admit that they did anything wrong but unveiled their reimbursement policies as well as their delivery guidelines to the court. They also agreed that they will deliver products as scheduled and offer refunds to those customers whose shipments have been overdue.