Quick verdict
Verify the company before comparing its products. A credible dealer should make its legal identity, pricing basis, product specifications, delivery or custody process, complaints route and buyback mechanics understandable. Compare like with like at the same time because spot prices move. For a first order, a slightly higher transparent total can be more useful than an unexplained low price with weak evidence and no practical exit.
Start with legal identity
Record the exact company name, registration number, trading address, domain and bank beneficiary. Cross-check company records and use an independently sourced phone number. A matching company registration is only the start: confirm that the website and salesperson actually belong to it. Search for clone warnings and inconsistencies in email domains. If regulation is claimed, check the FCA record and the exact permitted activity. Physical bullion transactions may not be regulated, so do not assume FSCS or Ombudsman coverage. Ask who contracts with you, who receives the money and who is responsible if delivery fails.
Compare a standardised basket
Choose one widely recognised product, the same quantity and a fixed comparison time. Record the metal reference price, product premium, VAT treatment, card or transfer surcharge, insured delivery and any minimum order. Then request or locate the dealer’s current buyback price for the same item. The gap between all-in purchase cost and realistic sale proceeds is the round-trip hurdle. A dealer that advertises a tiny premium but adds expensive delivery or pays a weak buyback rate may cost more overall. Avoid comparing a bullion coin with a proof or collectable version simply because the names look similar.
Inspect fulfilment and evidence
For delivery, confirm dispatch timing, insurance, signature requirements, neutral packaging, loss claims and the moment risk passes to you. For storage, ask whether metal is allocated, how it is identified, where it is held, who audits it and how to withdraw or sell. Product pages should state weight and fineness and identify the refiner or mint. Keep the invoice and packaging that supports future authentication. If the dealer uses a marketplace or third-party fulfilment company, establish which entity accepts responsibility and how returns or disputes are handled.
Test the exit before entry
Ask for the current buyback process in writing: accepted products, identification, assay or inspection, packaging, shipping, price-fixing moment, fees and settlement time. A vague promise to “always buy back” is not enough. Test customer support with a specific non-sales question and note whether the response matches published terms. Search complaints for recurring operational patterns rather than treating every review as decisive. Finally, make the first order small enough to learn the actual account, delivery and documentation process without placing an uncomfortable amount at risk.
Often a better fit when
- First-time physical bullion buyers.
- Readers comparing several dealers with different fee presentations.
- People who want a repeatable dealer-review worksheet.
Pause or skip when
- The dealer’s legal entity or payment beneficiary cannot be matched.
- Product specifications, delivery responsibility or buyback terms are missing.
- The order size would leave you without adequate emergency cash.
Buying checklist
- Verify the legal entity and official contact route independently.
- Compare one identical product using a same-time all-in price.
- Record delivery, insurance and loss-claim terms.
- Request a written buyback process and current indicative quote.
- Keep the first order proportionate to your experience and risk tolerance.
Compare the route before the provider
Use our neutral framework to compare ownership, total cost, safeguards and exit terms.
Questions readers ask
Should I choose the dealer with the lowest premium?
Not automatically. Compare the all-in purchase price, delivery, payment fees, product authenticity evidence and the expected buyback value. A lower premium can be offset by weak resale pricing or unclear fulfilment, while a transparent dealer may justify a modest difference.
Does FCA authorisation cover a bullion purchase?
Often not. The firm may conduct some regulated activities while a physical bullion sale is outside that scope. Check the precise legal entity, activity and product, and ask what protection applies rather than relying on a regulator logo.
How large should a first order be?
There is no universal amount. A cautious approach is to keep the first transaction small enough that you can test ordering, payment, delivery, documentation and support without undermining emergency savings or creating a loss you cannot tolerate.
Sources and further checks
Sources were last reviewed on 2026-08-26. Rules and provider terms can change.
