Quick verdict
A reputable dealer makes its legal identity, product specifications, complete pricing, custody or delivery, complaints process and buyback terms easy to verify. Strong operational evidence matters more than testimonials or a celebrity endorsement. Compare at least two credible sellers using the same product and timestamp. Skip any dealer using guaranteed returns, pressure, unexplained bank details, unclear ownership or prices detached from the wider market. Physical bullion is generally not protected in the same way as regulated investments.
Verify the business outside its own website
Record the dealer's exact legal name, company number, trading address, domain, telephone number and payment recipient. Cross-check the company record and use contact details obtained independently, especially after an unsolicited call or advert. Check how long the domain and business presence appear consistent, while recognising that age alone proves little. Search for official warnings and confirm whether any claimed memberships or accreditations appear in the issuing body's directory. FCA registration may apply to separate regulated services, but ordinary physical bullion is generally outside FCA regulation; a logo must not be treated as blanket protection. Our dealer comparison can create a shortlist, yet verification should always return to primary registers and contractual documents. Stop if the seller resists basic identity questions or changes payment instructions unexpectedly.
Demand a complete and comparable quote
Compare the identical product, quantity, payment method and delivery destination at the same time. Record metal weight and fineness, premium, delivery, insurance, card or transfer charge and any minimum order. Ask when price exposure becomes fixed and what happens if payment arrives late. A headline “low premium” can exclude delivery or apply only to large quantities. Do not rely on a spot-price chart supplied by one seller; note a consistent reference and timestamp for all quotes. Check cancellation and return terms, because precious-metal pricing can affect ordinary cooling-off expectations. Keep the final order confirmation. A transparent dealer should explain the difference between its sale price and buyback price without promising appreciation. Use affiliate links only after the comparison criteria are set, and recheck the destination and terms before paying.
Check product provenance and fulfilment controls
The listing should state mint or refiner, weight, purity, condition and packaging. For bars, ask about serial and assay details where applicable; for coins, distinguish bullion from proofs and collectibles. LBMA accreditation relates to refiners and institutional Good Delivery standards, so do not accept loose claims that every retail product is “LBMA certified.” Ask how stock is sourced, authenticated and stored. Delivery should be tracked, appropriately insured and handed over under a clear signature or identity process, with discreet packaging and a defined loss procedure. If the dealer stores gold, demand specific legal-title, allocation, segregation, audit, insurance, access and wind-down language. Never send identity documents through an unverified channel. Provenance and delivery evidence protect the future resale as well as the initial payment.
Test service quality with the exit question
Before buying, request the current buyback method for the same item. Ask how the bid is set, which conditions cause deductions, who pays insured postage, what identification is required and when funds are released after verification. Compare at least one independent buyer so the plan does not depend on the original seller surviving or maintaining attractive terms. Read complaints procedures and note escalation options, without assuming a trade body's process guarantees compensation. The World Gold Council's Retail Gold Investment Principles emphasise transparency, fairness and protection of client assets; use those behaviours as questions rather than as a substitute for diligence. Save written answers. A dealer that is helpful only before payment is a weak long-term partner, particularly when storage or a large future sale will require ongoing contact.
Often a better fit when
- First-time buyers who want a repeatable dealer-verification process.
- Online purchasers comparing security and service alongside premium.
- Owners who expect the same provider to support storage or resale.
Pause or skip when
- Payment is requested to a person or entity that does not match verified documents.
- The seller promises returns, creates urgency or discourages independent checks.
- Full pricing, product specification or buyback conditions remain unavailable.
Buying checklist
- Verify legal name, company number, address, domain and payment recipient independently.
- Compare identical products using the same timestamp and complete delivered cost.
- Confirm provenance, purity, condition, packaging and insured fulfilment in writing.
- Read cancellation, complaints, storage and provider-wind-down terms where relevant.
- Test the exact buyback process and keep a second credible exit option.
Compare the route before the provider
Use our neutral framework to compare ownership, total cost, safeguards and exit terms.
Questions readers ask
Does FCA registration prove a bullion dealer is safe?
No. A business may be registered for a particular regulated activity while its physical bullion sales sit outside that scope. Check the exact legal entity, permissions and contact details using official FCA resources, then read the bullion contract itself. Do not assume FSCS protection applies; coverage depends on activity, product and circumstances.
Is the lowest dealer premium the best deal?
Not necessarily. Add payment, insured delivery, storage and expected resale costs, then assess identity, provenance and service. A small saving can be poor value if delivery is uninsured or the exit spread is wide. Compare identical products and quantities at the same timestamp, because gold prices can move between quotes.
What is the strongest warning sign?
Guaranteed returns, urgent payment, unsolicited contact, secrecy, mismatched bank details and unclear ownership all justify stopping. The FCA advises consumers to be alert to pressure and to verify firms independently. A convincing website, review score or professional photograph cannot replace legal identity, written terms and a traceable payment route.
Sources and further checks
Sources were last reviewed on 2026-08-26. Rules and provider terms can change.
