25 Questions to Ask a Precious Metals Company
The fastest way to compare precious metals companies is to ask each one the same questions and get the answers in writing. The 25 questions below are grouped by topic, with a short note on why each matters. Print the list, take notes during each call, and compare answers before you commit any money.
Pricing and Costs
- What is the all-in price per ounce for this product today, and how far above spot is that? The premium over spot is the clearest single measure of what you are paying. See premiums and spreads.
- When is my price locked, and what happens if the market moves before my funds arrive? Some companies lock on a recorded call, others on receipt of funds.
- Are shipping, insurance, and sales tax included in that price? These can change the comparison between two sellers.
- Can you send me every account, storage, and custodian fee in writing? For retirement accounts, recurring costs add up over time. Our metals IRA fees guide lists the usual categories.
- Is there a minimum purchase, and does it differ for retirement accounts and direct purchases? Minimums vary widely between companies.
Products
- Is this a standard bullion product or a proof, commemorative, or limited-mintage coin? Collectible coins usually carry higher markups. Read numismatic vs bullion.
- What would the same weight of gold cost as a common bullion coin or bar? This shows how much of the price is metal and how much is premium.
- What is the fineness of this product, and who minted or refined it? Sovereign mints and accredited refiners are easier to resell.
- Why are you recommending this product for me specifically? The answer should relate to your stated goals, not to what is on promotion.
Retirement Accounts
- Is every product you are offering eligible under IRS rules? The fineness standards come from 26 U.S.C. 408(m), with an exception for American Eagle coins.
- Which self-directed IRA custodians do you work with, and can I choose a different one? The custodian administers the account and holds its assets on your behalf.
- Will my funds move by direct transfer or by a rollover paid to me? A direct transfer avoids the 60-day deadline and the 20% withholding that applies to eligible employer-plan distributions paid to you, as the IRS rollover page explains.
- Who prepares the paperwork, and who contacts my current plan? Knowing who does what helps prevent delays.
- How long does the transfer usually take from start to metals in storage? Compare with our rollover timeline guide.
Storage and Shipping
- Which depository will hold the metal, and is segregated storage available? Segregated storage keeps your specific items apart; see segregated vs non-segregated storage.
- Who insures the metal in storage, and up to what limit? Ask for the insurer's name, not just the word "insured."
- For direct purchases, how is the package shipped, insured, and signed for? Insurance should cover the package until you sign.
- How long after payment does the metal typically ship or reach the depository? Delays should be explained in writing.
Selling Later
- Do you buy back what you sell, and is that a written commitment? Many buyback programs are advertised but not contractual.
- How is the buyback price set, and what would you pay for this product today? The gap between today's buy and sell prices is your spread.
- How long after a sale are funds paid, and to whom? For IRA metals, proceeds go to the custodian.
- Can I sell to another dealer or take delivery if I choose? You should not be locked in to one buyer.
The Company and Its People
- Are your staff paid on commission, and are they licensed to give financial or tax advice? Sales staff at precious metals companies are often not licensed advisors, so know who you are talking to.
- How do you handle complaints, and where can I read about past ones? Then check independently on the BBB and the CFPB complaint portal.
- Can you send me the purchase agreement before I commit? Read cancellation, pricing, and dispute terms first; see reading a purchase agreement.
Asking These Questions of Goldco
Goldco, a precious metals company, staffs its phones with precious metals specialists who can answer questions about its products, its process, and the self-directed IRA custodians it works with. They are not licensed to give financial, legal, or tax advice, so tax and allocation questions belong with a licensed professional. Goldco advertises a buyback program for IRA-approved coins; ask to see the written terms. Our Goldco review and Goldco FAQ collect many of its published answers in one place.
Frequently Asked Questions
Which questions matter most?
Pricing relative to spot and buyback terms usually reveal the most about total cost, because together they show your spread.
Should I get answers in writing?
Yes. Ask for an email or written confirmation of prices, fees, and buyback terms. Verbal assurances are hard to rely on later.
What if a company will not answer?
Treat a refusal to disclose prices or fees as useful information. A transparent company should be able to answer every question here.