Buying physical precious metals is straightforward when you know what to ask. Most poor outcomes in this industry can be traced back to questions that were never posed — about pricing, about products, about what happens when you eventually want to sell. This checklist is not exhaustive, but it covers the ground any serious buyer should walk before wiring the first dollar.
About the dealer
- How long has the firm been in business, and under the same ownership?
- Is the firm a member of recognized industry associations, and can you verify that membership?
- Are pricing, premiums, and fees disclosed in writing before the order is placed?
- Does the firm publish a clear buy-back policy?
- Who is my point of contact, and are they available after the sale?
About the product
- Is this a sovereign coin, a private mint round, or a bar — and why is one recommended over another for my situation?
- What is the current premium above spot, and how does it compare to alternatives?
- Is the product IRA-eligible if I intend to hold it in a retirement account?
- How liquid is this product on the resale market?
About pricing
- How is the spot price used in this transaction, and how is my price locked?
- What is the total delivered cost, including shipping and insurance?
- Are there any additional fees at settlement?
- What are the accepted payment methods, and do they affect the price?
For background on how bullion is priced from wholesale down to the retail invoice, see [How Precious Metals Pricing Works](/knowledge-center/how-precious-metals-pricing-works).
About delivery and storage
- Is the shipment fully insured door to door?
- Is a signature required on delivery?
- If I choose depository storage, which facilities are available and how are they insured?
- What is the process for taking physical possession later?
The right dealer welcomes every one of these questions. The wrong dealer resents them. That distinction alone tells you almost everything you need to know.
About the exit
Before your first purchase, ask specifically what happens when you or your family eventually want to sell. Does the dealer maintain a firm buy-back commitment? What is the typical spread between their buy and sell prices? How is payment settled, and in what timeframe? A dealer who cannot answer these questions clearly is a dealer to avoid.