Purchasing gold, whether for the long term or the short term is a clever course of action, according to experts, because gold, in contrast to fiat currencies, is not as volatile. With the sector fairly uncertain, more and more people are now investing in precious metals to shelter their savings, but with this comes the result of running out of supply. Gold is a commodity and its prices are determined by the laws of supply and demand.
When the economy is not doing well, the demand for precious metals is generally higher due to the fact that traders use the precious metal as insurance or safeguarding from financial or geopolitical crises.
Since more people are now trading gold, dealers are sprouting all over the place. Even though a few of them have outstanding reputations and excellent rankings, others don’t. That’s why it is important for people who are planning to invest in gold and silver or in any precious metal to research first about the business they intend to buy from.
There are plenty of of strategies to see whether a gold company offers first-class solutions or not. One of them is to analyze scores from recommended rating websites and another is to read reviews about these businesses.
Northwest Territorial Mint is a Washington-based full-service mint that deals in precious metals and sells minted goods. The firm has been in the business of creating and designing coins, medallions and knives since 1984 and has been noted for its workmanship ever since. Northwest Territorial Mint provides a variety of items and is currently the leading private mint in the US.
As demonstrated by a Northwest Territorial Mint Review, the firm has a general score of 4.5 out of 5. The review also affirms that the order arrived in its destination sooner than stated. While this is a good review, other comments on the mint company warn precious metal customers to steer clear of them due to their unwillingness to release funds and their failure to complete orders.
An additional problem pointed out in that particular review is the condition of the items sent to thebuyer. They are reportedly scratched and are absolutely not in mint condition even if they were labeled as “new” on the company’s website.
One of the most significant problems, however, is the time that it takes the company to deliver the products. One review published on Gold Deal Reviews states that the order was placed middle of September in 2013 and only arrived months later.
In 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 the reasons why it takes longer for them to ship precious metals to the buyers than it takes other companies.
Yet, you should be aware that while Northwest Territorial Mint is quite popular, it is important for them to disclose to their buyers the real reasons why these buyers’ purchases are not posted on time.
The lawsuit filed in February 2008 accused Northwest Territorial Mint and its president Mr. Ross Hansen of violating Washington’s Consumer Protection Act by giving 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 due to a lack of response to consumer complaints on the side of Northwest Territorial Mint.
The State of Washington said as well that the company and its president continually failed to ship items bought at the time frame provided by the company itself and that individuals who filed the complaints at the government office waited months before receiving the bullion they had purchased.
It is important to note that the Washington-based Northwest Territorial Mint did not admit that they did anything wrong but disclosed their reimbursement policies as well as their delivery guidelines to the court. Additionally, they agreed that they will deliver items as scheduled and also offer money back to the clients whose shipments have been overdue.