How to Buy Gold Online Safely: Checking a Dealer Before You Pay

Buying gold or silver online is how many people get the widest choice and the easiest way to compare prices. It is also where you need to do the most checking yourself, because you pay before you hold the metal.

The CFTC, the federal regulator for commodity markets, says retail metal dealers "are not regulated at the federal level." There is no federal license number to look up and no federal agency that approves dealers. That doesn't make online buying unsafe. It means the checks below are your job.

This page walks through them in order: checking the dealer, getting the price in writing, choosing how to pay, shipping, and what to do when the box arrives.

Is it safe to buy gold online?

It can be, if you check the dealer before you pay and get the full price in writing. The warnings regulators publish focus on cold calls, pressure, financed deals and collector-coin markups. A plain order for common coins at a published price, from a dealer you checked, avoids most of those.

The CFTC and FINRA publish a joint list of questions to ask before buying metal. Most of what follows comes from that list. They also warn: "Never respond to cold calls, unsolicited emails, junk mail, late-night commercials or infomercials." A dealer you found and checked yourself is a very different thing from one that called you.

How do I check an online gold dealer?

Start with three things: where it is, how long it has been around, and whether people have complained about it.

1. A real physical address. The CFTC and FINRA say to "verify the dealer's physical address and how long it has been operating." A street address you can look up is a good sign. A post office box, or no address at all, is not.
2. Years in business. A dealer that has bought and sold metal for many years has a track record you can check. A brand-new site with prices well below everyone else's deserves extra care.
3. Complaints. The regulators suggest checking with your state attorney general and local consumer organizations to see "if the dealer has a history of complaints." They also suggest searching online for the names of the owners or salespeople, looking for "prior complaints or criminal allegations."

Reviews on the dealer's own website are not a check. Look for what other people say elsewhere, and read the negative reviews to see how problems were handled.

If a company offers to finance part of your purchase, that is a different kind of deal. FINRA says that if you are financing and not receiving the metal, check the seller's registration with the National Futures Association (NFA).

Get the total price in writing

Ask for every cost, added up, before you pay. The CFTC and FINRA say to ask for "all fees, costs, commissions and agreed retail price in writing." They add: "If fees aren't available in writing before your purchase, that's a red flag."

The written price should show:

• The item, its weight and its purity.
• The price per item and the total.
• Shipping and insurance.
• Any sales tax for your state (see sales tax on gold and silver).
• When the metal will ship.

Then do the regulators' simple check. Multiply the weight of metal by the spot price (the market price for one troy ounce) and compare it with the quote. The difference is the premium you are paying. On October 31, 2026, one large online dealer charged about 5.5% over spot for a 1 oz American Gold Eagle and about 18% for a 1 oz American Silver Eagle, paying by check or wire. Premiums change daily and differ between dealers. Our page on premiums and spreads explains what is normal and what is not.

Ask about the buyback price before you buy

Ask what the dealer would pay you for the same item today. The regulators put it simply: "Ask how much you would receive if you had to sell back the metal tomorrow."

FINRA and the CFTC say a dealer "will always sell metal above the spot price," and it buys metal back below spot. The gap between the two is the spread, and it is the real cost of a round trip. A dealer that publishes its buy prices, or answers the question clearly, is easier to compare. One that won't say is telling you something too.

Also ask about the dealer's buyback policy in general. Does it buy back what it sells? Does it charge a fee? How does it pay you, and how fast?

Does it matter how I pay?

Yes. The payment method can change the price, and it changes how much risk you carry.

Price. Many online dealers list two prices: a lower one for check or bank wire and a higher one for credit or debit card. On October 31, 2026, one large online dealer charged about 4% more by card than by check or wire. On a large order, that difference adds up.

Risk. With a check or wire, you pay first and the dealer usually ships once the money has cleared. That is normal, but it is why checking the dealer comes first. Before you send a wire, confirm the bank details by calling the dealer on a phone number you found yourself, not one in an email.

Timing. Prices move during the day. Ask whether your price is locked when you place the order, how long you have to pay, and what happens if your payment is late.

Cash is uncommon for online orders. If you pay any business more than $10,000 in cash, it has to report the payment to the IRS. Our page on dealer reporting to the IRS explains which purchases and sales get reported.

Shipping, insurance and signature on delivery

Ask how the metal will travel before you order. Good questions are:

• Who carries the risk in transit? Ask whether the package is insured until it is in your hands, and what happens if it is lost.
• Is a signature required? If so, plan to be home. If not, ask whether you can ask for one.
• How is it packed? Ask whether the box is plain, with nothing on the outside that says what is inside.
• When will it ship? Get a ship date in writing. Long, vague delays are a warning sign.

Ask when the dealer's insurance ends. Once the metal is yours and in your home, your homeowners policy may not cover much. The New York Department of Financial Services says a typical policy limit for "money, bank notes, bullion, gold & silver" is $200. See does homeowners insurance cover gold and silver.

What to do when the box arrives

Open the package soon after it arrives, and check it calmly.

1. Check the outside. If the box is damaged or looks opened, note it and take photos before you open it.
2. Compare with the invoice. Count every coin or bar and match it with the item list.
3. Look at the pieces. Coins should match the US Mint's (or other mint's) published weight and size. The US Mint suggests checking that the coin's key design features are all there. Bars often come in sealed cards with a serial number.
4. Report problems quickly. Contact the dealer right away if anything is wrong, within the time its policy allows. Keep the packaging until it's settled.
5. Keep the paperwork. The invoice shows what you paid, which you need when you sell. See how gold and silver are taxed.
6. Put it away. Decide where it will live before it arrives. Our guide to storing gold and silver compares the options.

Handle coins by the edges, and don't clean them. Cleaning can lower what a buyer will pay later.

Red flags when buying online

Walk away, or at least slow down, if you see any of these:

• A price well below the market. The US Mint says a coin offered below the market price deserves "extra scrutiny."
• Pressure to decide today, or "only two left."
• An offer of free silver or other big extras. The regulators suggest asking how the company profits if it seems to be giving metal away.
• A financed or "leveraged" deal where you never get the metal. The CFTC says a financed retail metal deal is illegal unless the seller is a registered exchange or actually delivers the metal within 28 days.
• Fees that aren't in writing, or a dealer that won't name a buyback price.
• Storage the dealer arranges but won't name or let you check.

Our list of 10 red flags of gold and silver scams covers each of these in more detail.

What buying online won't change

A careful purchase from a well-checked dealer is still a purchase of metal, with the same limits. Gold and silver pay no interest or dividends. You pay a premium to buy and accept a spread to sell, and you may pay to store and insure what you own. Prices swing, sometimes sharply, and can go nowhere for long stretches.

For the bigger picture of buying, start with how to buy gold for the first time. For other places to buy, see where to buy gold and silver, and before you call a dealer, print our 12 questions to ask a gold dealer.