Back in November Wired Magazine published an article (Bargain Junkies Are Beating Retailers at Their Own Game) about how technology is giving shoppers access to every store’s prices and circulating huge coupons (think GroupOn).
Apparently, if you’re looking for a Blu-Ray player, chainsaw or new mattress, you pull up one of these sites and ask who is charging what, and they’ll tell you, which saves a lot of money and legwork.
But what about gold or silver? Sorting through bullion dealers’ mark-ups, shipping charges, insurance, and trustworthiness is a nightmare, especially for beginners. From a buyer’s perspective, this market is ripe for a technological fix.
And last week it got one, with the launch of GoldShark. The brainchild of the folks who run Ohio-based Trusted Bullion (a DollarCollapse.com advertiser), its beta version allows a user to input a hypothetical order — say, 10 one-ounce Gold Eagles — and see the prices of the various dealers, including shipping, tax, and insurance. It also displays the Better Business Bureau rating of each dealer, something that matters once you find out that at least one brand-name dealer carries an “F” rating.