Investing in precious metals, whether for the long term or the short term is a sensible option, according to experts, due to the fact that gold, unlike fiat currencies, is not nearly as unpredictable. With the sector rather uncertain, more and more people are now investing in precious metals to preserve their assets, but with this comes the result of running out of supply. Gold is a commodity and its prices are established by the laws of supply and demand.
When the economy is not doing well, the demand for gold is often greater due to the fact that investors use the precious metal as insurance or protection from financial or geopolitical crises.
Because more people currently are trading precious metals, dealers are sprouting all over the place. While some come with stellar reputations and also good ratings, others don’t. That’s why it is vital for people who are planning to invest in gold or in any precious metal to research first about the business they intend to trade with.
There are a number of strategies to see whether a gold enterprise provides good services or not. One of them is to check out ratings from reliable rating sites and yet another is to browse reviews about these businesses.
Northwest Territorial Mint is a Washington-based full-service mint that deals in precious metals and sells minted items. The company has been in the business of creating and designing knives, medallions and coins since the year 1984 and has been recognized for its workmanship ever since. Northwest Territorial Mint features a range of items and is currently the largest private mint in the US.
As demonstrated by a Northwest Territorial Mint Review, the company has an overall score of 4.5 out of 5. The review also affirms that the order arrived in its destination earlier than stated. While this is a positive review, some other reviews of the mint company warn gold buyers to steer clear of them on account of their unwillingness to release funds and their failure to complete orders.
Another concern brought up in that specific review is the condition of the items sent to theconsumer. 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 the organization to ship the items. One review published on Gold Deal Reviews claims that the order was placed in the middle of September in 2013 and arrived months later.
Back in the year 2008, a lawsuit was filed against Northwest Territorial Mint. By September that year, the office of the Washington Attorney General issued a press release that Northwest Territorial Mint must “honor its promises” in delivering orders in a timely manner or reimburse those whose orders were not delivered on time.
A firm which has been sued for its shipping practices is a cause for apprehension even if the business has its reasons as to the reasons why it takes longer for them to ship precious metals to the customers than it takes other companies.
However, you should be aware that while Northwest Territorial Mint is rather popular, it is important for them to disclose to their clients 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 an inaccurate 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 firm and its president consistently failed to send goods acquired at the time frame given by the company itself and that clients who filed the complaints at the government office waited months before receiving the bullion they had invested in.
It is interesting to be aware that the Washington-based Northwest Territorial Mint did not come clean that they did anything wrong but disclosed their refund policies as well as their delivery procedures to the court. They also agreed that they will deliver goods as scheduled and offer money back to those customers whose shipments have been delayed.
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