We encourage you to do your own research and educate yourself before choosing a dealer and buying precious metals with your IRA funds. Few states have regulatory oversight of precious metal dealers. Therefore, it's important that you do your own due diligence to protect your retirement savings.
- Use sites such as the Better Business Bureau (www.BBB.org) to find whether the dealer is accredited and rated, how long the dealer has been in business, and review the dealer's history of any consumer complaints or disputes. Be aware of any dealer that you can't find any information about.
- Check to see if the dealer is a member of any industry trade groups such as the American Numismatic Association (ANA), Professional Numismatics Guild (PNG), and Industry Council for Tangible Assets (ICTA). To be a member, dealers must agree to abide by a code of conduct and be willing to resolve customer disputes.
- Be aware of dealers that use high-pressure sales tactics in their sales calls to try to get you to do business with them - and don't reveal any personal information about your income, your age, or your assets, including how much you may have in savings or retirement accounts.
- Read the recent Precious Metal Fraud Advisory issued by the U.S. Commodity Futures Trading Association, and view the CFTC's consumer protection video on Precious Metals Fraud.
- Be familiar with the different pricing terms (spot, bid, and ask) and understand what they mean.
Additional research resources can be found on STRATA's Protect Yourself page.