Gold and other precious metals are an investment and carry risk. Consumers should be alert to claims about high returns or low risk with precious metals or other assets.
As with any investment, you can lose money, and past performance is not a guarantee of future results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to buy.
Best Gold Dealers
Buying gold is an excellent way to diversify your long-term investment portfolio. Gold can provide a hedge when other investments decrease in value. Gold is an expensive precious metal, so work with a dealer you can trust. You’ll save time researching brokers by starting with our picks for the best gold dealers.
We evaluated 30 national and online gold dealers to find the five best gold dealers. We considered reputation, the cost of services, advice from financial experts and more. Our top gold dealer choices are Orion Metal Exchange, Patriot Gold Group, Monex, Oxford Gold Group, American Hartford Gold Group and Monetary Gold.
Tips for a Wise Gold Buyer
- Gold is not a get-rich-quick investment. Plan to hold it long-term in your portfolio.
- Trust your gut. Walk away from a gold dealer that makes you feel uncomfortable.
- Know the fees. The dealer markup, storage and other charges can add up.
- Invest for the right reasons. Don’t invest in gold based on fear of stock market fluctuations.
Source: Getty
What is a Gold Dealer?
The best gold dealers are typically large firms with the capital required to buy and sell significant gold quantities. For example, the U.S. Mint requires certified dealers to purchase a minimum of 1,000 ounces of gold coins at a time. These gold dealers practice truthful advertising and help clients determine the right mix of precious metals for their portfolio with no sales pressure.
Not all gold dealers sell investment-grade metals
While you may find reputable local gold dealers, we focused on larger companies with years of experience. Businesses with state or county licenses can buy and sell items manufactured with a small percentage by weight of a precious metal. These shops have their place for the gold jewelry and coin collector, but it’s best to look elsewhere for long-term investment gold and bullion products.
How to Find a Reputable Gold Dealer
The best gold dealers willingly explain the fees and investment programs they offer. Work with a precious metals broker that will take as much time as you need to explain how to buy gold. Your gold dealer should help you select the right metals and let you know if gold is not the best option for your portfolio.
Consider the dealer’s personality if you plan to make frequent transactions over the phone. Find someone with a compatible teaching style. The gold broker should stay focused on your investment objectives without getting too personal. This point is less critical if you plan to buy from online dealers and require little assistance.
A reliable gold dealer will not pressure you to invest immediately
Do some research to find gold dealers with solid reputations. Check the Better Business Bureau and National Futures Association’s BASIC database. You should be able to find many authentic online reviews for the company you’re considering. However, consumer reviews should only supplement your research and not be a deciding factor.
Gold Dealer Scams
We researched the Federal Bureau of Investigation’s list of tactics used in investment fraud schemes to help you avoid getting ripped off. Walk away from deals offering “no-risk” or “low-risk” gold investments and consistent or guaranteed returns. While most people need assistance to buy the right gold for their objectives, the purchase process is not difficult. The FBI suggests avoiding complicated gold buying procedures that are challenging to understand.
Other gold scams surrounding precious metal coins and bullion include:
- Misrepresenting standard gold bullion as being rare with inflated prices
- Pressure to buy gold at any time, but especially when prices are high
- Storage at the broker’s facilities with no way to enter the vault to see your holdings
- Counterfeit gold sold below market rate on eBay and other online marketplaces
- Infomercials that create a fear mentality to get you to call the broker
- Gold dealers that establish trust on a personal level early; these individuals will claim to have the same political, religious or social values as you to create a false sense of confidence
- Offers of offshore gold storage; this service does not exist
Do not fall for gold IRAs with a policy of shipping the gold directly to you. The IRS requires you to store the gold at a secured facility for this investment. Even if you hold physical gold outside of a retirement account, we recommend storing gold securely outside of the home with a third party.
| Trustworthy Gold Dealers vs. Potential Rip-offs | |
| The Best Gold Dealers | Gold Dealers You Should Avoid |
| Get to know you and your investment goals | Pitch a sale based on how much gold a celebrity or well-known financier owns |
| Explain the best options for your needs | Pressure you to “buy now” |
| Sell high-quality bullion and coins | Pawnshops and jewelry dealers selling items with undetermined precious metals content |
| Have an excellent reputation with consumer agencies | Businesses operating as crafted metal dealers |
| Explain the inevitable fluctuations in gold prices and risks | Tell you gold will always increase in value |
| Work with you to make an affordable investment | Offer dealer-sponsored loan programs to make it possible to buy gold |
Our Search for the Best Gold Dealers
Choosing a gold broker is a critical decision. You will likely rely on the company to learn about the gold industry, the market and investment options. An ethical gold dealer won’t tell you what gold products to buy. It will guide you through precious metals choices that meet your needs for financial security.
Our search for the gold dealers started with 30 brokers. We narrowed our recommendations down to the five best gold dealers using these steps:
-
We evaluated the length of time in the gold dealer business.
We looked for firms that have been working with gold investors for a decade or more. We could gather enough data to determine if these dealers have dependable track records. -
We checked complaints and fraud accusations.
Our research for selecting the best gold dealers included checking the Commodity Futures Trading Commission RED list, Better Business Bureau ratings and complaints history, and the variety of precious metals sold. -
We considered consumer reviews.
To narrow our search, we read consumer and expert reviews for the top gold dealers. We removed those with a three-star rating or less from consideration. We filtered gold dealers with low ratings on consumer sites from our results. -
We gathered fee and product information.
We focused on finding gold dealers based on our wise buyer standards. We evaluated each company to find those offering many precious metal investment choices. We chose gold brokers with fair pricing for services.
We removed gold dealers providing inadequate information about customer service policies from consideration. Any hint of over-promising and under-delivering disqualified gold brokers from our list.
Source: Getty
Gold Dealer Reviews
After careful evaluation, we selected our picks for the best gold dealers: Orion Metal Exchange, Patriot Gold Group, Monex, Oxford Gold Group, American Hartford Gold Group and Monetary Gold. Each of these companies stood out above and beyond the competition.
Patriot Gold Group Review
Great Personalized Service |
Screenshot: Patriot Gold Group
Senior management at Patriot Gold Group has been working in retail and wholesale precious metals for years. The group believes that low levels of consumer education and service across the industry lead to low client satisfaction levels. Patriot Gold Group provides a high level of service to retain clients for years.
Patriot Gold Group is a full-service gold dealer. The owners of the company have over 50 years of combined experience in buying and selling gold. Clients work directly with these specialists to purchase gold, silver and platinum coins and bars to fund IRAs or other investment portfolios.
The brokers at Patriot Gold Group offer competitive prices. The organization chart is relatively flat without multiple executive and investor compensations in pricing. Based on consumer reviews, Patriot follows through in educating customers and helping them to make responsible investments.
To get a quote or learn more, visit Patriot Gold Group’s website or call (844) 524-9001.
Monex Review
Cutting-edge Technology |
Screenshot: Monex
Monex opened for business in 1967 as a small shop and grew from there. The founder still works alongside his son and two daughters. The company employs a large professional staff with a reputation for reliable and fair prices.
Monex offers cutting-edge tools for gold investors. A mobile app for iPhone and Android devices provides live bullion and coin prices, market indicators, charts, indexes and more. Monex customers can use the app to get customized price alerts on their phones.
Monex offers new customers who buy 20 one-ounce gold coins a free one-tenth-ounce gold American Eagle coin. Refer someone to your Monex representative to receive a free 10-ounce silver bar if they place a precious metals order over $10,000. If your referral purchases a lesser amount, you still get a free 1.5-ounce Silver SuperLeaf coin.
Oxford Gold Group Review
Customized Investments |
Screenshot: Oxford Gold Group
There is no one-size-fits-all investment strategy at Oxford Gold Group. The dealers stress the importance of investing based on individual client needs. Oxford Gold Group was founded on the belief that all people should have an opportunity to invest in gold and other precious metals.
Gold dealers at Oxford Gold Group provide clients with the information required to make sound financial decisions. The specialists can help with planning for financial security for future generations as well as current goals.
The managing partners at Oxford Gold Group assist all levels of gold investors. The company also works with gold collectors. Regardless of why you buy gold, the brokers will provide comprehensive education and guide you through the process from start to finish.
To get a quote or learn more about the brand, visit Oxford Gold Groups’s website or call (888) 200-5586.
American Hartford Gold Group Review
Reliable Guarantees |
Screenshot: American Hartford Gold Group
If you like the sound of working with a family-owned and -operated gold brokerage, consider American Hartford Gold. This company works with families and individuals looking to invest in gold, silver and platinum. You can take possession of the gold or hold it in a self-directed IRA, Thrift Savings Plan or 401(k) for the self-employed.
American Hartford Gold helps its clients use gold assets as a hedge in their investment portfolios. The gold dealers provide up-to-date information as well as historical data about the gold market. The chief executive officer and company president each have over a decade of experience in the precious metals industry and a passion for educating customers.
American Hartford Gold sells high-quality metals. The company backs up sales with a 100% satisfaction and money-back guarantee. Customers also benefit from a gold buyback program with no additional liquidation fees.
To get a quote or learn more about the brand, visit American Hartford’s website or call (877) 672-6779.
Monetary Gold Review
Unique Investor Workshops |
Screenshot: Monetary Gold
Not all gold dealers buy precious metals directly from the source to keep prices low. Monetary Gold provides this level of service, bypassing middleman commissions. Monetary Gold is one of three gold brokers in the U.S. registered with CME Group, the world’s leading derivatives marketplace. This distinction allows the company access to the broadest range of investments.
Monetary Gold emphasizes client education and has 50 years in the precious metals dealer business. You can consult one-on-one with a broker and attend workshops to help you understand your investments.
Monetary Gold offers multiple gold coins for investors, as well as gold IRAs. If you go the IRA route, a specialist helps you choose IRS-approved metals. The company provides education and information to help clients choose a mix of gold and silver to meet their investment goals.
To get a quote or learn more about the brand, visit Monetary Gold’s website or call (844) 207-6614.
APMEX Review
Great Online Brokerage |
Screenshot: APMEX
If you’re a gold enthusiast or investor looking for variety of gold, consider buying online from APMEX. American Precious Metals Exchange offers gold from these mints: U.S., Royal Canadian, Perth, Royal and Mexican. The APMEX gold product mix includes ancient and medieval coins, lunars, foil notes and others among the usual IRA-approved and collector’s gold.
APMEX prices tend to be a little higher than other gold dealers, but their unique programs and broad selection make up for the cost. OneGold program is a digital marketplace where you can buy and sell gold online 24/7. Pay with a credit card, Bitcoin or PayPal. All transactions are immediate, protected by two-factor authentication and backed by physical metals.
APMEX’s AutoInvest program lets you buy gold with recurring purchases to take advantage of dollar-cost averaging. You can buy gold in increments over time to benefit from an average spot price. The APMEX Gold IRA rounds out the company’s precious metals products.
Frequently Asked Questions about Gold Dealers
Can I invest in gold without buying gold bars or bullion?
Yes. There are many ways to invest in gold, such as gold mining stocks, exchange-traded funds, mutual funds and other options.
Where can I sell gold?
You can sell gold at local shops or even on eBay, but first check with your gold dealer to see if it has a buyback program.
Are all gold coins valued the same per ounce?
The Federal Trade Commission says the amount of precious metal in a gold coin is the primary determinant of value. Gold coins are not all created equal and may not be suitable for your investment portfolio. The U.S. Mint produces gold, silver and platinum coins for investment purposes, guaranteeing weight, precious metals content and purity.
Will my gold dealer tell me when to buy or sell?
No. A good gold broker will teach you about the gold market, let you know the spot price and discuss and compare the merits of various gold investments. However, gold dealers are not financial advisors, and the decision to buy or sell gold rests on your research and judgment. You will see a disclaimer to this effect on every legitimate gold dealer’s website and marketing material.
Does gold make a good gift?
Most people would be thrilled with the gift of gold. Avoid giving large quantities requiring storage, so the recipient isn’t saddled with storage fees. Don’t count on the gold value increasing by the time the person receiving it wants to sell. They could profit, but the per-ounce price could also be lower, and there are fees involved with selling gold.
Concluding Thoughts on Gold Dealers
Bottom Line:
If it sounds too good to be true,
it probably is.
Ignore gold dealers with unending special pricing and look for a dealer that educates the consumer. These brokers listen to clients to help them buy gold that enhances their investment strategy. An ethical gold dealer lets you take your time and doesn’t pressure you to buy gold right away. Always be on the lookout for precious metals scams. Consider one or more of our top gold dealers to reduce your research time.
The Best Gold Dealers
| Gold Dealer | Best For | Phone | |
|---|---|---|---|
| 1 | Orion Metal Exchange | Competitive Pricing | (888) 607-4685 |
| 2 | Patriot Gold Group | Great Personalized Service | (844) 524-9001 |
| 3 | Oxford Gold Group | Customized Investments | (888) 200-5586 |
| 4 | American Hartford Gold Group | Reliable Guarantees | (877) 672-6779 |
| 5 | Monetary Gold | Unique Investor Workshops | (844) 207-6614 |
| 6 | Monex | Cutting-edge Technology | |
| 7 | APMEX | Great Online Brokerage | |