Last updated: October 22, 2026
Editorial responsibility: Best Top 10 Gold Investments · Sources checked October 22, 2026.
Before buying gold, verify the seller, the exact product, the full cost and who will hold the metal. A persuasive sales call or professional-looking website cannot establish those facts. The CFTC’s precious-metals fraud advisory highlights pressure, profit promises and missing purchase or storage records as warning signs.
This checklist concerns physical gold and related sales pitches. For the differences between owning bullion, funds and mining shares, start with our guide to investing in gold.
Warning signs worth stopping for
| Sales pitch or missing information | What to check |
|---|---|
| A guaranteed profit or protection from every market loss | Pause. Ask for the written risks and costs; a salesperson’s assurance cannot establish a future resale value. |
| Pressure to decide during the call | End the conversation and review the proposal independently. Claimed scarcity is a reason to check the offer, not skip checks. |
| Storage charges without identifiable holdings | Ask where the metal is held, what records identify your purchase and how to verify the arrangement with the storage provider. |
| A small deposit buys a much larger financed position | Identify the lender, interest, other charges and any obligation to send more money if prices move against you. |
| A caller says to buy gold and hand it over to protect your money | Stop and contact the claimed institution independently. The FTC says it never directs people to buy gold and give it to someone. |
These checks draw on the CFTC warning signs and FTC guidance on impersonation and payment scams. They do not certify a seller or establish how frequently a particular scam occurs.
Verify the business and the person separately
Search independently for the company’s legal name, address and contact details. If someone claims to represent an investment firm, contact that firm through details you find independently and ask whether the person and offer are genuine. A copied logo, certificate or registration number can belong to an entirely different business. FINRA’s imposter-scam guidance explains why even a genuine registration record does not authenticate the person contacting you.
Check claimed investment-professional registration directly with the relevant regulator. Do not assume a retail bullion seller must appear in BrokerCheck: the joint CFTC–FINRA metals bulletin distinguishes retail dealers from people providing regulated advice. Ask your state consumer or securities regulator about complaints. A clean search does not guarantee a safe transaction.
For a physical item, use our guide to at-home gold checks and their limits. A convincing mark or simple home observation cannot establish that the seller or item is genuine.
Compare a complete quote, including the exit
Request the exact coin or bar, quantity, fine-metal content, total price and all separate charges in writing. Compare equivalent products from more than one seller. Ask for the dealer’s current repurchase price and the conditions for selling back; a future buyback is not a guaranteed profit.
The CFTC–FINRA bulletin recommends checking the purchase price, spread, fees and how the seller is paid. Ask how any advertised free metal is funded. A fixed premium percentage is not a universal test of legitimacy, and a collectible label does not prove an investment case.
Record each written offer in a dated comparison sheet. Separate upfront and recurring costs, and mark missing answers “unknown.” Request a new quote if the product changes. Our company profiles organize questions; inclusion does not certify a seller.
Keep IRA custody rules separate from dealer claims
The IRS IRA investment FAQ describes exceptions to the collectibles rules for certain coins and bullion. For qualifying bullion, it specifies physical possession by a bank or IRS-approved nonbank trustee, including when an IRA-owned LLC buys it. A home-storage sales pitch does not establish that an arrangement meets those requirements.
Ask the custodian to explain the eligible product and custody arrangement before transferring retirement funds. “IRS approved” language should not be read as a government endorsement of a dealer, vault or investment. Tax consequences depend on the facts; obtain qualified tax advice for your account. Our gold IRA comparison guide provides questions to take into that discussion.
If you have already paid
- Contact the payment provider immediately. Tell your bank, card issuer, payment app or transfer company what happened and ask whether the payment can be stopped, reversed or refunded. Use independently verified contact details. The FTC’s recovery steps vary by payment method; recovery is not guaranteed.
- Stop further payments and preserve evidence. Keep invoices, messages, account statements, payment records, website addresses and a timeline. The CFTC’s post-fraud checklist also explains steps to protect accounts and identity when information has been exposed.
- Report the suspected fraud. Use the official reporting routes linked by the FTC and CFTC guidance above. Contact local law enforcement and your state attorney general as appropriate. Preserve report reference numbers and follow up with your payment provider; submitting a report alone does not recover funds.
Be cautious of an unsolicited offer to recover your money for an advance fee. The FTC’s refund and recovery warning describes scammers impersonating agencies or recovery services and demanding payment or account information. Verify any claimed agency contact independently, and do not pay someone who unexpectedly promises a guaranteed refund.
This is a general educational checklist, not a finding that any particular company committed fraud or individualized investment, legal or tax advice.