Finding a Trustworthy Dealer for 10 oz Gold Bars
At ~$20,000 per 10 oz bar, choosing the right dealer is crucial. The precious metals industry includes reputable professionals and, unfortunately, some bad actors. Here's how to identify quality dealers.
Essential Evaluation Criteria
#### 1. Business History and Reputation
Look for:
- 10+ years in business (established track record)
- Professional association memberships (PNG, ANA, ICTA)
- Better Business Bureau A+ rating
- No significant regulatory actions or lawsuits
- Physical business address (not just PO Box)
Why it matters: Established dealers have reputations to protect. Fly-by-night operations lack accountability when problems arise.
#### 2. Pricing Transparency
Expect from quality dealers:
- Clear premiums over spot price
- Published buy/sell prices (bid/ask)
- No hidden fees before checkout
- Real-time or frequently updated pricing
- Willingness to explain pricing structure
Red flags:
- Vague pricing ("call for quote" with no online pricing)
- Prices significantly below other dealers (counterfeit risk)
- Hidden shipping, handling, or insurance fees
- Pressure to decide before prices "change"
#### 3. Buyback Policies
Quality dealers offer:
- Published buyback prices
- Clear buyback procedures documented
- Reasonable spreads (1-2% below spot for 10 oz bars)
- Willingness to repurchase what they sell
This matters because: You'll eventually sell. Knowing exit terms before you enter helps calculate true costs.
Comparing Dealers: A 10 oz Bar Example
When comparing dealers for a 10 oz PAMP Suisse bar, gather:
| Factor | Dealer A | Dealer B | Dealer C |
|---|---|---|---|
| Bar price | $20,650 | $20,580 | $20,720 |
| Shipping | $25 | Free | $35 |
| Insurance | Included | Included | $40 |
| Total | $20,675 | $20,580 | $20,795 |
The lowest per-bar price isn't always cheapest—total cost matters.
Online vs. Local Dealers
Online dealers:
- Often lower prices due to scale
- Easy comparison shopping
- Shipping adds to cost and timeline
- Reviews widely available
- May lack personal relationship
Local coin shops:
- See products before buying
- Build relationship for future deals
- May offer better prices on secondary market bars
- Immediate possession
- Support local business
- Potentially less competitive pricing
Optimal approach: Use online dealers for primary purchases; local shops for secondary market opportunities and relationship building.
Due Diligence Steps
- Check reviews across platforms: Google, Trustpilot, BBB, Reddit r/Gold
- Verify credentials: Business registration, physical address, phone number
- Test customer service: Ask questions, request quotes, assess knowledge
- Compare total costs: Get quotes from 3-5 dealers including all fees
- Start small: Make a smaller purchase first to test the experience
Red Flags to Avoid
- Aggressive sales tactics or limited-time pressure
- Numismatic upsells pushing collectible coins over bullion
- Claims of "exclusive" deals or insider information
- No physical address or verifiable business presence
- Requests for unusual payment methods (crypto-only, wire-only)
- Prices far below other dealers (counterfeit concern)
Recommended Dealer Categories
Major online dealers (large scale, competitive pricing):
- Generally lowest premiums
- Efficient shipping and processing
- Extensive inventory
- Well-documented policies
Boutique dealers (personal service, potentially better advice):
- More personalized experience
- May offer unique products
- Relationship-based pricing possible
- Smaller inventory
Bank precious metals programs (institutional backing):
- Bank guarantee provides security
- Often higher premiums
- Limited product selection
- Convenient for bank customers
Building Long-Term Relationships
For ongoing 10 oz bar purchases:
- Establish yourself as a serious buyer with consistent purchases
- Ask about volume pricing for multiple bar orders
- Inquire about reserved pricing during volatile periods
- Build rapport with a specific representative
- Consider referrals to demonstrate your value
A quality dealer relationship can last decades. The time invested in finding the right partner pays dividends through every future transaction.
For more on dealer selection, explore where to buy 10 oz gold bars from reputable sources.