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Investing in any asset requires some research on the part of the investor. Paper assets, including stocks and bonds, have plenty of historical information about their performances in the marketplace.
However, investors, today are thinking more broadly about their asset choices. Purchasing precious metals is an alternative that's quite viable in today's investment scene. Get to know one of the dealers named Park Avenue Numismatics right now.
Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?
That is why we have researched every company in the industry and selected the very few with the highest customer service standards.
This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.
Read the list to see if Park Avenue Numismatics passed our strict customer service standards to become one of our top recommendations.
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Learn About Park Avenue Numismatics
PAN has been in the industry since 1988, which makes it one of the oldest coin dealers in the nation. It's based out of Miami, Florida, and the company has a physical address listed on the website too.
In fact, a physical address isn't necessarily commonplace in today's marketplace.
Many precious metals dealers are strictly online entities. It's unclear if PAN has a showroom at this address, however. This dealer advertises its inventory of rare coins, gold bullion, and silver options.
The company appears to sell its items through the site and extends to eBay auctions as well. In addition, PAN offers "Coin of the Day" specials along with "Deal of the Week" selections that might attract investors to the website more than once.
Purchase From PAN
As investors browse through PAN's inventory, they'll appreciate the detail written about each product. There are clear images and lengthy product descriptions for investors to absorb, for example. Another benefit to PAN's inventory is the upfront pricing.
Nearly every item has an actual price associated with it. Investors aren't encouraged to call for pricing or calculate costs based on bulk orders either. There are only a few items that have spot pricing and bulk costs, which is understandable in this marketplace.
Investors simply select an item, add it to their virtual cart and check out. For investors who want a streamlined experience on their terms, PAN has a refreshing layout.
Set up a Gold IRA With PAN's Experts
PAN does not offer gold IRA or Individual Retirement Accounts. They do advertise their gold IRA starter kit as a way to educate investors, however. A gold IRA operates like a traditional IRA, but this alternative account can have physical gold and silver used as holding assets.
PAN states that it can work with investors to set up a gold IRA with a qualified custodian, who acts as an account manager. By using funds from an established IRA or 401(k), the gold IRA can then be filled with precious metals purchased from PAN.
After purchasing government-approved precious metals, they're directly shipped from PAN to a secure depository. Investors cannot physically hold their precious metals when they're earmarked for a gold IRA. Precious metals secured at the depository can now be tax incentives until they're withdrawn in retirement.
PAN makes it clear that they only sell precious metals. They have affiliations with custodians and depositories when investors require their services.
Read About Numismatics News
When investors visit PAN's homepage, they're greeted with a live ticker of current precious metals pricing. This information gives investors an idea of how their precious metals might appreciate over time.
PAN goes even further with a "News" tab. Investors see a news page that appears to be updated daily. Click on the blog page, however, and this area isn't updated as much as the news page. PAN may need to improve on their blogs to entice some investors to work with them.
Additionally, investors can sign up for PAN's newsletter. It's unclear how often investors receive this newsletter after inputting their information. PAN states that this newsletter keeps investors up to date with everything about the numismatics world.
Attend a Trade Show
An interesting aspect of PAN's business is its affiliation with trade shows. Most precious metals dealers don't attend these collector shows, but PAN advertises when and where they appear. They take pride in meeting the public at these shows.
Investors who want a face-to-face meeting with PAN may want to visit a show. Presumably, the company would have inventory on display for purchase. This unique experience may be a great way to get to know PAN before making any large purchases.
Know About PAN's Reputation
It's difficult to research PAN's reputation online. When investors perform an online search for company reviews, almost no information comes up. Investors must read the reviews on PAN's website for any insights into the company.
Although including reviews on the site appears to be a transparent gesture, these opinions may not cover every aspect of the company's actions. For example, they may include only positive reviews.
It would be helpful to see reviews on independent websites that reflect all customer opinions. Currently, deciding on PAN's reputation is a difficult call without more information from previous clients.
Be Aware of Industry Scams
PAN has been in business since the late 1980s, which tells investors that this company is legitimate in the industry. Companies that are brand new with only an online presence may sell inventory and virtually disappear the next day, for instance. Investors can trust that PAN will be there tomorrow for any payment or shipping questions.
However, PAN isn't accredited by the Better Business Bureau and has practically no reviews about its services. For a company that's been in business for so long, the lack of accreditation is concerning. Most businesses use the BBB as a solid resource to bolster industry reputations.
Get to Know Company Features
PAN lays out its policies when it comes to returns, shipments, and payments on the "About Us" tab. This transparency is helpful for investors who may be wary about working with PAN.
For investors who want to speak with a representative, PAN offers a live chat feature along with a phone number. Additionally, investors can send an email through the site's contact page. Because PAN has been in business for so long, reaching out to its customers should be a top priority.
Lastly, PAN's inventory is fascinating for collectors and simplified for the serious investor who wants basic items. PAN appears to cater to all buyers regardless of their precious metals investment goals.
Advantages & Disadvantages
Reason to use
Reason to not use
Decide on PAN's Services
Although PAN is a business that's served the public for several decades, it's difficult to determine if they're a good choice for investors. The lack of online reviews, BBB accreditation, and other factors may lead investors to choose another company for their precious metals business.
Other dealers in the industry can offer more inventory choices along with gold IRA services. Ideally, investors may want to research other companies before turning to PAN.
Taking a chance on PAN's products might be the start of a new direction for investors' portfolios. Diversify as much as possible to see steady returns. Precious metals are historically good choices for those long-term investment goals.
Remember to read out list of the Top Gold Companies to see if Park Avenue Numismatics made the cut.
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