Precious Metals Company vs an Online Bullion Dealer
An online bullion dealer is built for self-serve buying: you see a posted price, add items to a cart, and pay. A full-service precious metals company is built around guidance: a specialist walks you through product choice and, for retirement accounts, coordinates custodian paperwork and depository shipping. The better fit depends mostly on how much of the process you want to handle yourself.
Two Different Service Models
Think of the difference as who does the coordinating.
- Online dealer. You research products, compare prices, choose payment, and arrange storage. The website is the main interface, and phone support, where offered, is mostly for order questions.
- Full-service company. You talk with a specialist who explains options and handles much of the coordination. Goldco, for example, is a precious metals company that offers gold and silver for precious metals IRAs funded by transfer or rollover, direct purchases of physical metal, and platinum and palladium. Its staff are precious metals specialists, not licensed financial, legal, or tax advisers.
Account Paperwork
For direct purchases delivered to you, paperwork is minimal with either model. The difference shows up with retirement accounts. A precious metals IRA involves opening a self-directed account with a custodian, requesting a transfer or rollover from your existing plan, and having the custodian pay for metal shipped to a depository.
A full-service company typically helps with each of those forms. Goldco says it works with all major self-directed IRA custodians. Some online dealers also accept orders from self-directed IRAs, but you may need to open the custodian account and initiate the transfer yourself, then place the order through the custodian. Our page on gold IRA paperwork explains the forms, and the rollover paperwork guide covers the transfer side.
Storage
Online dealers usually ship to your home by default, and some offer optional vault storage. That suits personal holdings. For IRA metal, storage must be with an approved depository, because IRA assets must be held by a trustee or custodian under 26 U.S.C. 408. A full-service company typically arranges this as part of the process; Goldco sends IRA metal to an independent insured depository. See precious metals storage options for the full range.
Pricing Transparency
Online dealers generally post prices that update with the spot market, which makes comparing products quick. Some show different prices for different payment methods. Full-service companies typically quote prices during a conversation and confirm them in writing.
Neither model is automatically cheaper. What matters is the premium over spot for the specific product, plus any account costs. When comparing, ask a full-service company for a written quote per item, and compare it with posted prices for the same items on the same day. Our explainer on premiums and spreads shows how to read the difference.
For IRA purchases, account costs also apply regardless of who sells you the metal. Goldco's published fee statement is shown below as an example of a written disclosure.
Gold IRA Fees
The required minimum purchase at Goldco to start a gold IRA is $25,000. Goldco’s preferred Custodian charges a flat annual account service fee which includes a one-time IRA account set-up fee of $50. as well as a $30 wire fee. Annual maintenance is $100, and storage is $150 for segregated storage or $100 for non-segregated storage.
Fees for gold storage and custodianship can vary depending on the company you select to handle these services (required by the IRS, as all IRA assets must be managed by a custodian). Depending on the Custodian, storage fees can range from $10 to $60 per month, or as a percentage of assets, from 0.35% to 1% annually.
Minimums
Online dealers often allow very small orders, sometimes a single coin. Full-service companies more often set minimums. According to Goldco's website at the time of writing, direct purchases carry a $10,000 minimum; confirm current terms. Custodians may also have their own account requirements. See gold IRA minimums.
Selling Later
Many online dealers buy back metal through an online or phone process with posted bid prices. Full-service companies may offer buyback programs; Goldco advertises a buyback program for IRA-approved coins "at the highest price." In either case, read the written terms. Our guide to how precious metals buybacks work explains what to look for.
Which Model Fits Which Buyer
Comfortable researching on your own
If you know which coins you want, understand IRA eligibility rules, and are happy to manage a custodian relationship, an online dealer may suit you.
Want guidance through a rollover
If you are moving a 401(k) or existing IRA and want help with timing and forms, a full-service company may be worth the comparison. Our how Goldco works page walks through one company's process.
Small first purchase
For a first coin or two held at home, the low minimums of an online dealer or local shop can make sense.
Frequently Asked Questions
Can an online dealer sell metal into my IRA?
Some can, through your self-directed custodian. Ask the dealer and the custodian whether they work together and who initiates the order.
Do full-service companies charge more?
Not necessarily. Compare premiums on identical products and add any account costs to see total cost.
Is it safe to buy metal online?
Checking the seller's address, complaint records, and written terms reduces risk with any seller. The CFTC publishes guidance on precious metals fraud worth reading first.
Where can I compare full-service companies?
Use our comparison scorecard.