Best Gold Dealers

Gold and other precious metals are an investment and carry risk. Consumers should be alert to claims that customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money and past performance is not a guarantee of future performance results. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.

These three gold dealers offer online purchases (minimums/maximums may apply) and offer a wide variety of precious metals.

Founded in 2011, JM Bullion offers gold and precious metal options for investors and collectors alike. Investors can choose from coins and bars as well as precious metal IRAs through its partnership with New Direction IRA. Collectors and gift givers will like the variety of coin designs, including Batman and Star Wars options.

There is no minimum order amount for most payment methods, and orders over $199 ship free through USPS or UPS. Orders under that threshold ship for a flat $7.99. Once your payment is cleared, your order is shipped within one business day. All orders are fully insured while in transit.

The price you pay for bullion depends on your method of payment and the quantity you are buying. The price for most items decreases slightly the more you buy. You will also pay less with an eCheck or bank wire and more with cryptocurrency, credit cards or PayPal. Plus, how you choose to pay comes with a maximum limit. For example, your maximum purchase total is $50,000 with a credit card but 500,000 with a bank wire.

JM Bullion also offers customers the option for do-it-yourself buybacks, provided you have at least $500 worth of products to sell. You can complete a  price lock anytime online without having to speak to a buyback specialist. There is a $25 to $30 fee if you request your money via bank wire or check, but there is no fee if you are paid via ACH.

Orion Metal Exchange was established in 2017, but the co-founders have over 40 years of combined experience in the precious metal industry.

You can invest in Gold American Eagles plus other U.S., British and Canadian coins that are eligible for gold IRAs. Customers can use Orion for retirement investments or for personal, nonretirement precious metal purchases. Nonretirement purchases can be stored in Orion’s third-party insured-storage vault or delivered with insured home delivery.

For those who use Orion for retirement investing, it offers a full-service, in-house individual retirement account (IRA) department for the life of the account. Every IRA commercial depository and third-party storage program is insured by Lloyd’s of London for the value of the precious metal holdings.

Customers can buy several coin options online. You must make a minimum purchase of $10,000, and shipping is a flat-rate cost of $39. The company prompts customers to call for several other services, though, such as buying bars, buying IRA-approved coins or qualifying for the special offer of up to $30,000 in free gold and silver.

Orion offers fee-free buybacks for its customers. Customers can receive the market value of their metals without an additional charge. To do this, customers need to do a 30-second phone call with the company for a guaranteed buyback price.

APMEX has been dealing gold and other precious metal since 2000. It offers a wide selection of coins, bars or rounds, bullion, semi-numismatic or numismatic products, and precious metal IRAs for U.S. and international customers. There is no minimum or maximum order for domestic orders. Orders over $199 ship free in the U.S.; orders under $199 will be charged a $9.95 fee. APMEX guarantees orders will be processed and shipped within one business day or you receive a $10 credit.

Precious metal IRAs are done through one of APMEX’s partner IRA custodians. The minimum purchase from APMEX for an IRA is $2,000. Customers can keep track of their investments with APMEX’s custom portfolio tool. The AutoInvest program allows you to set and forget regular precious metal purchases so you can build up your investments consistently.

You can sell precious metal products to APMEX (minimum $1,000 sale amount), but you will need to lock in your rate over the phone. There are no hidden fees and APMEX buys a wide range of products. Canceling a purchase or a sale will result in a $35 cancellation fee and a market loss fee (if applicable). All shipments are insured.

APMEX guarantees product satisfaction and customers can request a return or exchange within seven days from when the item is received. However, shipping and handling charges are nonrefundable and there might be a restocking fee of $50 or 10% of the total order price (whichever is greater). A $50 processing fee might apply on all exchanges.

When comparing online gold dealers, look for ones with a clear refund and return policy. Most give you a window of at least three days to express dissatisfaction. Pay attention to whether there is a restocking fee and, if so, how much.

Always make sure the dealer isn’t on the Commodity Futures Trading Commission’s RED List (Registration Deficient List) before you make a purchase.

Other things to look for to ensure you find a reputable company include:

• Established transaction history: One of the ways to determine whether you can trust a dealer is by looking at its transactions and customer reviews. Companies that have moved billions’ worth of metals have built up trust and good reputations.
• Physical headquarters: Even if you complete the whole transaction over the phone or on a computer, confirm that the online dealer has a physical headquarters listed somewhere. This makes it easier to contact the company if you have any issues. Avoid dealers who only list a P.O. Box.
• Transparent pricing: Clear pricing on a company’s website is a plus, but this can be difficult to find (you might need to call a representative to get the most accurate and up-to-date prices). Companies that do not offer quick and transparent bid-ask prices can cause unfavorable delays that might result in a different price than you expected.
• Risk disclosures: Any investment comes with some risk. The best gold dealers are upfront about the potential risks and realities of investing in precious metals, so look for a disclosure page that gives you the facts.
• Payment options: Online gold dealers commonly accept payments by credit card, check, money order, wire transfer, PayPal and Bitcoin. Be sure that your dealer accepts your preferred payment method.

Gold dealer scams to avoid

As with any industry, you'll want to be on the lookout for scams when comparing gold dealers. The most common scam is selling fake gold, especially for purchases online or over the phone. Avoid this by purchasing gold only from established dealers.

Other scams might include:

• Partial delivery: Some people purchase gold only to receive a portion of what they ordered. The scammer may disappear entirely or claim an order error and promise to deliver the rest, possibly for an additional shipping charge. Scammers know that trust is earned. Don't let your guard down because you receive what you expect the first time.
• Unwarranted pricing: It is not uncommon for gold dealers to sell a piece for whatever someone will pay for it. The sales prices of the same coin can vary by hundreds or even thousands of dollars from one dealer to the next. Protect yourself by being knowledgeable about what you’re buying and whom you’re working with.

Online gold dealers typically sell bars or rounds that range from as small as one-tenth of an ounce to a kilogram. The standard quality of gold fineness is .999, or 99.9% pure. Gold in its purest form is too soft to handle, so an alloy like copper is added to keep the shape of the gold bar or round intact.

Unlike paper money that can be overprinted and devalued, gold and other precious metals are tangible assets with naturally limited supplies. This helps keep the market value of gold stable, which makes it an attractive investment option for many people.

Most people buy gold because it has historically held its value, which can protect against inflation. Precious metals act as a hedge for storing wealth in times of economic and political uncertainty.

Gold might be a pretty way to invest, but it’s not guaranteed to keep its value. Opponents of gold also don’t like that it isn’t a cash-generating asset. Compared with stocks, the long-term returns are relatively low.

We started with a list of 25 gold investment companies. To narrow it down, we first looked at reviews and eliminated dealers with an overall satisfaction rating below 3.5 stars.

We required our top gold dealer picks to offer online transactions through a secured website to stay on the list. Companies were also eliminated if they require you to fill out a form or call for pricing information.