The precious-metals industry has its share of high-pressure sales tactics, and an honest dealer is worth its weight in — well, gold. This checklist is the same lens our editorial team uses when we assess companies. Bring it to any consultation and you'll spot the difference between a transparent partner and a slick pitch fast.
1. Demand Fee Transparency
The most important number isn't the spot price — it's the spread, the markup a dealer charges over spot. Reputable firms will give you a clear fee schedule and put the spread in writing. If a salesperson dodges the question or buries the cost in 'free' promotional metals, treat that as a warning sign.
- Ask for the one-time setup, annual custodian, and annual storage fees up front.
- Ask for the coin/bullion spread in writing before you buy.
- Be wary of 'bonus metals' offers that can obscure your true cost basis.
2. Verify Credentials Independently
Don't take a brochure's word for it. Confirm the firm's BBB rating and accreditation on BBB.org, and look up any regulatory history. A long, clean operating record matters in an industry where some firms have faced regulatory action over sales practices.
3. Check The Custody Partners
Your metals are only as safe as where they're stored. Look for IRS-approved depositories such as the Delaware Depository, Brink's, or Loomis, and a recognized custodian. Ask whether segregated storage is available if you want your specific metals held separately.
4. Understand The Buyback
One day you'll want to liquidate. A no-obligation buyback commitment makes that simpler and gives you a clear exit. Ask how buyback pricing works and whether there are liquidation fees.
Red Flags That Should End The Call
- Pressure to 'act today' before a fabricated deadline.
- Pushing rare or collectible coins with huge markups instead of standard bullion.
- Refusal to put fees and spreads in writing.
- Promises of guaranteed returns — no honest dealer makes them.
Our editorial rankings weigh exactly these factors — fee transparency, custody partners, track record, and buyback terms. They are our opinions based on public information, not user reviews. Always verify a company's current credentials before investing.
Frequently Asked Questions
What's the difference between bullion and collectible coins?+
Bullion is valued primarily on its metal content and typically carries lower markups. Collectible or 'numismatic' coins can carry much larger premiums and are a common source of inflated spreads. For most IRA savers, standard IRS-approved bullion is the straightforward choice.
How do I check a company's BBB rating?+
Search the company on BBB.org directly rather than relying on a logo on the dealer's own website. There you can confirm the rating, accreditation status, and any complaint history.
Not Financial Advice. This content is for general education only and is not financial, tax, legal, or investment advice. Investing in precious metals carries risk, including loss of principal. Consult a licensed professional before making decisions.