You must have an order with a minimum of $1,000.00 to place your order, your current order total is $0.00.
To choose a gold dealer, check its track record and complaint history, get the price and its premium over spot in writing, ask what it would pay to buy the same metal back from you, and never buy from someone who called you first. A dealer worth your money passes those four tests without hesitation. The ten checks below expand on them, with the sources federal regulators point to.
Choosing a dealer may be the most important decision you make as a new gold owner. The dealer sets the price you pay, the advice you get, and how easily you can sell later. USAGOLD has served precious metals buyers from Denver since 1973, and these are the checks we would want you to run on anyone, including us.
Not the way banks and brokers are. Retail metal dealers are not regulated at the federal level, and there is no federal license to sell gold coins. A few federal rules do apply:
Some states also require dealers to register with a state agency. Your state attorney general’s office can tell you whether yours does.
Longevity is not proof of honesty, but it is hard to fake. Check how long the firm has traded under its current name; CBS News notes that scammers often rebrand. Your state’s Secretary of State business search shows when a company was registered.
Look past the letter grade. Read the complaints, how they were resolved, and whether the business is BBB-accredited. A firm with a high grade and a stack of unresolved complaints is telling you two different things.
The CFTC recommends checking with your state attorney general or securities regulator for a dealer’s complaint history. It takes one phone call or a web search.
Membership in a trade group such as the Professional Numismatists Guild, which publishes a member directory and a code of ethics, or the American Numismatic Association is worth checking on the organization’s own site. A logo on a dealer’s website is not verification.
You should know three numbers before you pay: the price, the spot value of the gold in the product, and the premium between them. The CFTC suggests working out the premium yourself: convert the spot price to the product’s gold weight, then (price − spot value) ÷ spot value × 100. Our guide to gold coin premiums explains what a fair premium looks like for different products.
Every dealer sells above spot and buys below it. The CFTC suggests asking how much you would receive if you sold the metal back tomorrow. A dealer who will not quote a buy-back price, or who only sells and never buys, leaves you to find another buyer and compare bids on your own.
Well-known coins and bars from recognized mints and refiners are the easiest to price and to sell. For collectible coins, insist on PCGS or NGC certification and verify the certification number at PCGS or NGC before you pay.
Most people buy gold to protect wealth. A dealer who steers you toward leveraged accounts, high-premium “rare” coins you did not ask for, or graded modern bullion at large markups is working toward its goal, not yours.
Your metal should be shipped to you, insured, or held at an independent depository in an account in your name, with statements that list your holdings. The CFTC has documented fraudulent dealers charging storage and insurance fees for metal that never existed.
You should be able to call and speak with someone who knows the products and will still answer the phone when you want to sell. Ask who will handle your sale later.
| Red flag | Why it matters | Source |
|---|---|---|
| An unsolicited call, email or ad with an urgent offer | A common scam tactic | CFTC |
| Prices at or below spot | Finished coins cost more than their metal to make and distribute, so a price below spot needs an explanation | CBS News |
| “Finance” the purchase with a small down payment | Leveraged metal schemes often never buy any metal | CFTC |
| Very large markups | Some fraudulent dealers have charged spreads of more than 300 percent | CFTC |
| Storage you cannot verify | Fees have been charged for metal that did not exist | CFTC |
| A recent name change or no business address | Scammers rebrand | CBS News |
| No written buy-back policy | You may have no way out | CFTC |
The best place to buy gold is the dealer that passes the ten checks, whatever its format. Each format has its own things to confirm.
| Format | Strengths | What to confirm |
|---|---|---|
| Online dealer | Live prices, wide selection, easy comparison | The company behind the website, its complaint record, insured shipping, and a phone number answered by a person |
| Local coin shop | You see the coin before you pay | Depth of inventory, how prices compare with the spot price, and whether the shop buys back what it sells |
| Phone-based dealer | Advice from a specialist before you buy | That you called them, not the other way around; written pricing; firm buy-back quotes |
Is it safe to buy gold online? It can be, with a dealer that passes these checks. Confirm the business behind the site, pay through a method that leaves a record, and make sure the shipment is insured until it is in your hands.
No single dealer is “the most trusted” for everyone. Trust is something you can check: years in business, complaint history, independent reviews, and a written buy-back policy. If you use an online “best dealers” list, check whether it discloses payments from the dealers it ranks. Then run the checks yourself on any dealer you are considering.
We ask you to hold us to the same checks:
If you are buying historic coins, our buyer’s guide to pre-1933 gold coins adds the checks that matter for graded coins.
Check its years in business under the same name, its Better Business Bureau record and complaints, and any complaints with your state attorney general or securities regulator. Then ask for the price, premium and buy-back price in writing. A reputable dealer answers all of it without pressure.
Start with dealers you find yourself, never one who contacted you. Shortlist firms with long track records, read their BBB complaints and independent reviews, verify any trade memberships on the association’s own site, and compare written quotes for the same product from two or three of them.
There is no single answer. Trust shows in things you can verify: decades in business, a clean complaint record, independent reviews, transparent pricing and a written buy-back policy. Use those checks rather than relying on an online ranking, and check whether any ranking discloses payments from the dealers it lists.
The one run by a dealer that passes the checks above: a verifiable business, live prices tied to spot, a clear premium, insured shipping, a published buy-back policy and a phone number answered by a person.
From an established dealer that delivers the metal to you, insured, or stores it at an independent depository in your own name. Avoid any arrangement where you pay for metal you never receive or cannot verify.
No. The CFTC advises never responding to cold calls, unsolicited emails, junk mail or infomercials offering precious metals. Find the dealer yourself.
Not at the federal level as retail sellers. Federal rules cover anti-money-laundering programs, large cash payments and fraud, and some states require registration. Your state attorney general can tell you what applies where you live.
Choose the right dealer and it will help you stay the course. Choose the wrong one and you can end up with more than you bargained for. Take your time, run the checks, and call when you are ready.
Talk to a USAGOLD precious metals professional at 1-800-869-5115, or contact USAGOLD.
