How to Tell if a Precious Metals Dealer Is Legit

THE SHORT ANSWER

A legitimate precious metals dealer puts every price in writing, tells you its premium and fees before you pay, has a physical location you can walk into, and will tell you in advance exactly how it buys metal back. If a dealer rushes you, hides its markup, or has no address you can visit, walk away.

SEVEN CHECKS BEFORE YOU SEND MONEY

• A real address you can visit. Look the street address up on a map. Can you walk in and talk to a person? Ours is 3335 Chamblee Dunwoody Road, Chamblee, GA 30341, open Monday to Friday, 10 AM to 4 PM, and other times by appointment.
• Prices in writing. A price should be tied to the live spot price plus a stated premium. Ask for the quote in writing before any money moves.
• Fees disclosed up front. Ask about card fees, shipping, insurance and storage costs. A dealer that is straight with you names them before you pay. Ours are shown before checkout.
• A buyback you can read in advance. Ask how the dealer pays to buy metal back and how that price is set. Ours is a written quote against live spot, based on the metal, weight and purity, and verified on arrival with XRF analysis and precision scales.
• A legal name and a track record. Ask which company you are dealing with and how long it has been in business. Ours is AGS, LLC, doing business as Alex Lexington, a family business founded in 1977 and now in its third generation.
• Identity and anti-money-laundering rules. A legitimate dealer asks who you are on larger transactions. Our Customer Identification Program and anti-money-laundering program are published on this site.
• No pressure. Prices do move, so holding a price with a deposit is normal. A demand to wire the full amount today or lose the offer is not.

RED FLAGS

• A price with no spot reference, or "special" coins priced far above their metal value.
• Pressure to move retirement money, or to wire funds, the same day.
• A refusal to put the quote in writing.
• No physical address, or only a P.O. box.
• A refusal to say what the dealer pays when you sell back.

HOW TO CHECK ANY DEALER, INCLUDING US

Confirm the company name and the street address on a map. Read the reviews on the dealer's Google profile rather than only the ones it publishes itself. Then ask for the buyback terms before you buy. A dealer that is comfortable with all four will answer without hesitation.

QUESTIONS PEOPLE ASK

Is a dealer legit just because it has good reviews?
Reviews help, but they are one signal. Use them together with the written quote, a visit to the location, and a look at the buyback terms.

What should a written quote include?
The metal, the weight, the spot price it is based on, the premium, the total, and the payment terms.

Can I visit before I buy?
Yes. We are a walk-in counter in Chamblee, and appointments are available.

What does Alex Lexington pay when I sell back?
A written quote against live spot, based on the metal, weight and purity. Once your items are received and verified, we pay within 24 hours by bank wire or check.

WHERE THIS APPLIES

See how buying and selling works, read our buyback policy, or book a 15-minute consult and ask us anything on this list. You can also browse gold and silver at live pricing.

RELATED TERMS

Gold Premiums | Bid-Ask Spread | Spot Price | Wire Transfers

DISCLOSURE

Alex Lexington provides this content for educational purposes only. This is not investment advice. Precious metals prices fluctuate and past performance does not guarantee future results. Consult a qualified financial advisor before making investment decisions. Alex Lexington is a licensed precious metals dealer, not a registered investment advisor.