How to Choose a Gold Dealer

Compare the full cost, not just the gold price

When you're choosing a gold dealer, look beyond the headline price for the metal itself. The total amount actually depends on a few moving pieces: spot price, dealer premium, shipping or insurance charges, and any fees tied to how you pay. One dealer might advertise a lower premium, but if their shipping fee is higher, you could end up paying much more overall.

Always ask for the final price, in writing, before you pay. Find out whether each dealer quotes their price per gram, per ounce, or as a percentage of the spot price. That way, you can compare on the same terms. And pay attention to the difference between what a dealer will pay you to buy back your gold and what they charge to sell, the bid-ask spread can have a real impact if you want to sell later.

Check registration, buyback policies, and how open they are

• Registration: Find out if the dealer is actually registered or licensed with authorities in their country, and confirm their company details using the official register. Regulations aren't the same everywhere, so check specifically for your own country.
• Buyback terms: Does the dealer offer to buy back your gold later? If so, ask for the specifics, including how their buy price is set. For details on what shapes a dealer's offer, see our guide to how to sell gold.
• What you buy and the paperwork supplied: Make sure bars and coins include assay certificates or other documentation that describes their weight and purity.
• Storage and insurance arrangements: If you're not receiving the gold immediately, clarify where it is being stored, who insures your holding, and what would happen if the dealer becomes insolvent.
• If something goes wrong: There should be a written procedure for complaints and some form of independent third-party reviews. Online reviews can help, but assess them carefully, they don't always tell the full story.

Risks and questions to raise with a dealer

If a dealer can't explain its pricing, pressures you to act before you're ready, or refuses to confirm terms in writing, that's a reason to back away. Ask about the full purchase cost with all fees included, who is responsible for holding your gold, whether you can sell back, and where the dealer is registered (if anywhere).

Gold values change frequently, and you could lose money. This guide describes what to check but does not select or recommend any specific dealer. Check a number of dealers to get a sense of the market, and consider taking independent financial advice if you're undecided. For step-by-step details about the buying process, see how to buy gold online.

Frequently asked questions