How to Vet a Bullion Dealer (Our Methodology)
Straight answer
Vet a bullion dealer the same way every time: check that they’re a real, long-running business with a street address and named leadership; confirm transparent, market-level pricing with all-in fees disclosed before checkout; read their reputation for complaint patterns, not star averages; and require a published buy-back policy plus insured, signature shipping. If a dealer hides any of these, or steers you toward “rare,” “proof,” or leveraged accounts, walk away. No single signal is decisive — score them across all eight criteria and trust the pattern.
This page is our methodology. Every “best dealer” comparison and every individual dealer review on USBuyGold applies the same eight-point scorecard you’ll read here — so you can audit our work, and run the checklist yourself on any seller we haven’t covered.
Why a repeatable scorecard beats a gut feeling
Most people buy gold from whoever ran the ad they saw last, or whoever a forum thread praised loudest. That’s how buyers end up paying 20% over melt value for a “limited edition” coin, or wiring funds to a dealer with no real address. A scorecard fixes this. Instead of reacting to marketing, you grade each dealer against the same eight criteria, every time, and compare like with like.
The eight criteria below are weighted toward the things that actually cost you money or expose you to fraud: price, fees, reputation, and the ability to sell back. The softer signals — website polish, friendly chat reps — barely register. A dealer can be charming and still overcharge you by 15%.
The eight-point vetting checklist
1. Longevity and a real identity
Start with the boring question: does this business actually exist, and for how long? Look for a verifiable founding year, a physical street address (not just a PO box), a working phone number you can call, and named leadership — a CEO or founders you can search. The large mainstream dealers wear their tenure openly: APMEX dates to around 2000, JM Bullion to roughly 2011, Money Metals Exchange to about 2010, SD Bullion to around 2012. Years in business isn’t proof of honesty, but a dealer that has handled millions in transactions for a decade has a reputation to protect and a paper trail to read.
A dealer with no address, a generic “contact us” form as the only channel, and no human names attached is a dealer you can’t hold accountable. That alone is disqualifying.
2. Pricing transparency
You buy bullion above spot and sell it below spot — that gap is the dealer’s premium, and it’s a real round-trip cost. A trustworthy dealer makes that premium easy to see: the product price, the spot reference, and the spread are all visible before you commit. Standard gold coins typically run about 3–8% over spot; silver 5–15%; bars usually lower. We explain this in depth in our guide to premiums over spot.
Watch for the all-in number. A low headline price means little if shipping, “handling,” or payment surcharges balloon at checkout. Add the product price, shipping, and your payment-method fee, then compare that total — per ounce — across dealers. A dealer whose prices sit far above the market, or who advertises a “deal” that quietly vanishes when you check out, has failed this criterion.
3. Reputation — read the patterns, not the score
Reputation sources like the Better Business Bureau and Trustpilot are useful, but only if you read them correctly. A 4.7-star average tells you almost nothing. The complaint themes tell you everything. Open the lowest reviews and the BBB complaint log and ask: do the same problems recur? Slow shipping, surprise fees, hard-sell phone calls after a quote, difficulty getting a buy-back honored, or pressure toward “collectible” coins are the patterns that matter.
Also check regulatory and news history. The precious-metals sector has seen FTC and state enforcement actions, usually against sellers pushing overpriced numismatic or leveraged products. We read these in general terms — documented patterns, not invented scores — and we tell you what we found and where. We don’t assign a number we can’t defend.
4. Buy-back policy and spread
Gold is only useful as a store of value if you can sell it. Ask: does the dealer publish a buy-back policy at all? Many reputable dealers will buy back common bullion, often at a posted formula tied to spot. The size of the spread — how far below spot they’ll pay — tells you the true cost of a round trip with that dealer. A dealer that’s silent on buy-backs, or that only buys back at a punishing discount, is one you’ll regret when it’s time to sell. Note that Costco, for example, sells gold but does not buy it back, so plan your exit elsewhere.
5. Secure, insured shipping
Your package should arrive discreet, fully insured for its value, and require a signature on delivery. “Discreet” means the outside gives no hint of the contents. “Insured” means the dealer — not you — eats the loss if it’s stolen or lost in transit. Inspect on arrival before you sign if you can, and report any discrepancy immediately. A dealer that ships uninsured, or pushes the insurance cost and risk onto you, has cut a corner that could cost you everything in the box.
6. Sensible payment options and fees
How you pay changes what you pay. Bank wire is usually the cheapest path and the one dealers discount for — but it’s irreversible, so only wire to a dealer you’ve vetted. ACH or check is cheap but holds your order while funds clear. Credit card is convenient but typically adds about 3–4% and is often capped at a low order size. A good dealer lists every payment method and its fee plainly. A dealer that only accepts wire and rushes you to send it is waving a flag.
7. Product authenticity
Stick to recognized, accredited products. For bars, that means LBMA Good Delivery or equivalent refiners — PAMP Suisse, Valcambi, Argor-Heraeus, the Royal Canadian Mint, the Perth Mint — sold in sealed assay cards. Recognized brands and intact assay packaging make resale easier and counterfeiting harder. A dealer selling unbranded “generic” bars at suspiciously low prices, or coins with no provenance, deserves scrutiny. Learn the verification tests in our guide to authenticating gold, and read more on avoiding counterfeit gold.
8. No high-pressure or “rare coin” upsells
This is the single most reliable fraud signal in the industry. You came to buy bullion — gold valued by weight and purity. If a salesperson redirects you toward “rare,” “proof,” “limited-edition,” or “graded collectible” coins carrying markups of 30%, 50%, or more over melt value, or pitches a “leveraged” or “managed” metals account, that dealer’s incentive is misaligned with yours. The classic cautionary profile is the heavily TV-advertised seller that has faced criticism for high-pressure phone sales and steep numismatic markups. Bullion should be sold like a commodity, not a collectible, unless you specifically want collectibles and understand the premium.
The criteria table — how we score
| Criterion | What “good” looks like | What fails |
|---|---|---|
| Longevity & identity | Years in business, street address, phone, named leadership | No address, no names, untraceable |
| Pricing transparency | Premium visible, prices near market, all-in total clear | Prices far above market, surprise fees at checkout |
| Reputation | Few recurring complaint themes, clean regulatory record | Repeated fee/pressure complaints, enforcement history |
| Buy-back policy | Published policy, reasonable spread | No policy, or punishing discount to sell back |
| Shipping | Insured, discreet, signature required | Uninsured, risk shifted to buyer |
| Payment & fees | Multiple methods, fees disclosed (wire cheapest) | Wire-only with urgency, hidden surcharges |
| Authenticity | Recognized brands, sealed assay cards | Unbranded bars, no provenance, too-cheap pricing |
| Sales conduct | Sells bullion as a commodity, no pressure | “Rare/proof” upsells, leveraged accounts, urgency |
We don’t publish a single numeric “winner” score, because that would imply a precision we don’t have — we work from public information, not test purchases. Instead we tell you which dealers clear all eight criteria, where each one is strong, and who should skip it.
Red flags — stop and reconsider
- No physical street address, no phone, no named leadership
- Prices far above the going market with no clear premium shown
- Fees that only appear at checkout — bait-and-switch pricing
- Hard sell toward “rare,” “proof,” or “limited-edition” coins
- Any pitch for “leveraged” or “managed” precious-metals accounts
- Manufactured urgency — “this price won’t last,” countdown timers
- Wire-only payment with pressure to send funds immediately
- No published buy-back policy, or a buy-back spread that’s punishing
- Listings on open marketplaces like Amazon or eBay — counterfeit risk and weak recourse
A single yellow flag isn’t always fatal — a small local shop may legitimately prefer wire and lack a slick buy-back page. But two or three red flags together, especially around pricing and pressure, mean you’ve found the wrong dealer.
The positive signals — what a good dealer does
Vetting isn’t only about catching the bad. The dealers we recommend share a recognizable profile, and you can confirm each point yourself:
- They show their work. Founding year, address, leadership, and a real phone line are easy to find.
- They price near the market. Premiums sit in the normal range for the product, and the all-in cost is clear before you pay.
- They publish a buy-back policy so you know your exit before you enter.
- They ship insured and discreet with a signature requirement, and they own transit risk.
- They offer real payment choices and disclose every fee, with wire as the cheapest path.
- They sell bullion as bullion — no pressure, no pivot to high-markup collectibles.
For reputable examples and how each one scores, see our shortlist of best online gold dealers, which applies exactly this methodology.
When this checklist says “don’t buy here”
- They can’t or won’t show a street address, phone, and named leadership.
- Their prices sit well above the market and the premium isn’t disclosed.
- Every conversation steers toward “rare,” “proof,” or leveraged products.
- There’s no published buy-back policy, so you have no clear way to sell.
- Shipping isn’t fully insured, or the risk is pushed onto you.
- You feel rushed — urgency is a sales tactic, not a market reality.
It’s fine to walk away. Reputable bullion is a commodity sold by many sellers; there’s no “deal” worth ignoring these signals for. If you’re new to the buy-side mechanics, our guide on whether to buy online versus a local coin shop covers the trade-offs in immediacy, privacy, and premium.
Is the Better Business Bureau rating enough to trust a dealer?
No. Treat the BBB rating as one input, not a verdict. The accreditation and letter grade can be influenced by membership and response rates, so read the actual complaint log instead. You’re looking for recurring themes — surprise fees, slow shipping, hard-sell phone calls — across many reviews, not a single bad day. Combine it with Trustpilot patterns and any regulatory history before deciding.
How much over spot is a fair premium?
It depends on the product. Standard gold bullion coins typically run about 3–8% over spot, silver about 5–15%, and bars usually lower. Premiums far outside those ranges — especially on “collectible,” “proof,” or “limited-edition” coins marked up 30% or more over melt — are a sign to slow down. See our premiums over spot guide for the full breakdown.
Should I ever buy gold on Amazon or eBay?
We don’t recommend it. Open marketplaces carry meaningful counterfeit risk and weaker recourse than an established bullion dealer, where authenticity and buy-back accountability are part of the business. Buy from a vetted dealer instead, and learn the verification tests in our authenticating gold guide.
What’s the single biggest red flag?
A push toward “rare,” “proof,” or leveraged products when you came to buy bullion. It’s the most reliable signal that a dealer’s incentives are misaligned with yours, and it shows up repeatedly in sector enforcement actions and complaints. Bullion should be sold by weight and purity, like a commodity.