How to Evaluate a Gold IRA Company: Due Diligence Steps

Choosing a company to sell metal to your IRA is a bigger decision than it looks. The company quotes the price, often suggests a custodian and a vault, and may offer to buy the metal back later. This guide gives a neutral process for checking any Gold IRA or Silver IRA company on facts you can confirm. We don't rank companies. For our profiles of individual firms, see Gold IRA Companies Compared, and for how we gather and check company facts, see our company Research Methodology.

Why you have to do your own research

There is no single license that tells you a Gold IRA company is sound. The CFTC (Commodity Futures Trading Commission, the federal regulator for commodity markets) puts it plainly: "Retail coin dealers generally are not regulated by state or federal authorities, so you'll need to do significant research on your own" (CFTC).

The account's custodian won't do this for you either. A joint alert on Investor.gov says self-directed IRA custodians "DO NOT evaluate the quality or legitimacy of any investment in the self-directed IRA or its promoters" (Investor.gov). A self-directed IRA is an IRA that can hold alternative assets, such as metal, chosen by you rather than by a fund manager.

FINRA and the CFTC say "Gold or silver IRA frauds frequently target older workers and retirees" (FINRA). A careful, written process is your main protection.

Who are you actually dealing with?

A Gold IRA usually involves three separate businesses. Knowing which is which tells you what to check.

The tax rules make the custodian's role matter. The IRS says bullion fits the IRA exception only "if a bank or approved non-bank trustee keeps physical possession of it" (IRS). Metal outside the exceptions is a collectible. The IRS notes that "The restrictions applicable to collectibles also apply to IRAs," and says an account that "acquires a collectible is deemed to receive a distribution in the year the collectible is acquired." See custodian vs dealer vs depository for more on the three roles.

Step 1: Get prices, fees and terms in writing

FINRA and the CFTC say to "Ask for all fees, costs, commissions and agreed retail price in writing before signing a sales agreement or turning over any money" (FINRA). The CFTC adds: "Do compare costs and insist on getting all fees in writing" (CFTC).

A useful written quote shows:

• The exact product, its weight and its price per unit
• The spot price at the time of the quote. FINRA defines it as the cash price for immediate delivery of physical metal; see what the spot price is.
• The dealer's premium, meaning how far the price is above spot. See dealer premiums and markups.
• Any commission, shipping or handling charge
• The custodian's setup, annual and transaction fees
• Storage and insurance fees, and whether they are taken from the IRA or billed to you

FINRA's bulletin notes that "Other potential costs are storage, insurance, administrative fees, and possibly additional taxes and penalties if you take money from a qualified retirement account" (FINRA).

Why insist? The CFTC describes "one recent complaint" in which "a gold dealer and IRA custodian charged nearly $150,000 in commissions and fees to a customer who rolled over a $300,000 retirement account into a gold IRA" (CFTC). That is an allegation in one complaint; the CFTC does not say how common such costs are. Our Gold IRA fees guide lists every type of charge, and the dealer quote analyzer helps you break a quote into its parts.

Step 2: Ask how the buyback works

You will pay a spread on the way out as well as a premium on the way in. FINRA explains: "A dealer will always sell metal above the spot price and buy it back below the spot price. The difference between the dealer's buy and sell price is known as the dealer's spread" (FINRA). The CFTC's flier makes the same point: "Thanks to excessive markups and fees, you may never make a profit" (CFTC flier).

Questions worth asking, with answers in writing:

• What would you pay today to buy back this exact product?
• How is the buyback price set? Is it a fixed rule, or decided at the time?
• Is a buyback promised in the contract, or only described in marketing?
• Are there fees to sell, ship or move the metal back out of the depository?
• Can I sell to another dealer instead, and how would that work through my custodian?

An advertised "buyback guarantee" tells you little unless the price formula is written into the signed agreement. See buyback costs.

Step 3: Confirm the custodian and the depository

Get the exact legal name of the custodian before you sign anything. Then check it:

• Is it a bank? Banks can serve as IRA custodians.
• Is it on the IRS list? The IRS publishes a list of approved nonbank trustees and custodians. When we checked on October 3, 2026, the page linked to a list dated April 1, 2026, and said the IRS will "frequently update this list as other nonbank trustees or custodians are added or removed."

The list has limits. Investor.gov warns that "this IRS resource is not a complete list of every custodian" (Investor.gov). Being on it is also not a rating of fees, service or safety. Our guide on how to evaluate a Gold IRA custodian covers the custodian side in detail.

For storage, ask:

• Which depository will hold the metal, and who chose it?
• Is the storage segregated (your own items kept apart) or commingled (pooled with other customers' metal of the same type)? What does each cost? See segregated vs commingled storage.
• How is the metal insured, and by whom? See Gold IRA storage insurance.
• How will my statements show what I own?

On that last point, FINRA says the custodian's IRA statement "shows the 'melt' value of the metals—the total bullion weight times the metal's spot price" (FINRA). Compare that figure with what you paid; the melt value calculator can help. See also how to verify your metals.

Be wary of any pitch to keep IRA metal at home. Because of the custodian rule above, it carries real tax risk. See home storage Gold IRAs.

Step 4: Check the products offered

Only certain coins and bullion fit the IRA exceptions. Check that the products you are offered are eligible, using our IRA-eligible precious metals guide and the eligible product checker.

Watch how collector coins are described. The CFTC's flier says: "If someone tries to sell you higher priced 'collectibles' for an IRA, the coins likely are not rare" (CFTC flier). For the difference, see bullion vs numismatic coins.

Step 5: Search regulators' public records

Next, check the company, its owners and the person you speak with. FINRA and the CFTC suggest you "verify the dealer's physical address and how long it has been operating, and search online for the names of owners or salespeople for prior complaints or criminal allegations" (FINRA).

If a salesperson gives advice, registration matters. FINRA's bulletin says: "If someone tries to persuade you to buy, suggests what to buy, how much or when, that's advice, and they might be required to register with the CFTC, SEC, FINRA or your state regulator. Ask them directly if they're registered, then verify it and take a look at their disciplinary histories, too." The same bulletin says that in most cases the salesperson "isn't qualified to give trading, investment or tax advice." If an unregistered salesperson is telling you what to buy, that is worth noting.

For complaints, the CFTC says to "Check with the attorney general in the dealer's home state to see if the dealer has a history of complaints" (CFTC).

The FTC also suggests you "Search online with the name of the company, officials, or promoters plus words like 'review,' 'scam,' 'fraud,' or 'complaint'" (FTC).

How to read what you find

Be precise about what a record means:

• A complaint or lawsuit contains allegations. It doesn't prove wrongdoing.
• A settlement is an agreement to resolve a case. Read its terms, including whether any wrongdoing was admitted.
• A court judgment or a regulator's final order is a decision. That carries the most weight.

Note the case name, date and source. Our list of precious metals enforcement cases shows how we describe each kind.

Step 6: Weigh reviews and BBB complaints carefully

The Better Business Bureau says it "is not a government agency and holds no regulatory power" (BBB). On complaints, it says: "We do not take sides, and we cannot force a business to act." Treat a BBB complaint as one customer's unverified account. Look for themes that repeat, such as surprise fees or slow buybacks.

Online review sites and "top company" lists deserve even more caution, because some may earn money when readers contact the companies they feature. See how Gold IRA review sites make money and fake Gold IRA reviews.

Red flags while you evaluate a company

Regulators' advisories give a short list of warning signs. In their own words:

• Unsolicited contact. "Don't respond to unsolicited email, mail, cold calls, advertisements, videos, or social media posts about investing in precious metals or starting a gold IRA" (CFTC).
• Guarantees. "Scammers promise you'll make big money, guaranteed income, or guaranteed profits or returns" (FTC).
• Pressure. "Scammers use high-pressure sales tactics" (FTC).
• Self-styled experts. "Commonly, unscrupulous dealers pose as 'IRA experts' or act as illegal investment advisors" (CFTC).
• Borrowed trust. "Fraudulent metals dealers target their ads to political or religious programming just to gain your trust" (CFTC flier).

Our guide to Gold IRA scams explains how these schemes work, and Gold IRA scam warning signs has the full list. For a step-by-step background check, see how to verify a precious metals dealer.

Due-diligence checklist

When to get independent advice

The CFTC suggests you "talk to a qualified financial planner, investment advisor, or accountant before making significant changes to your tax-advantaged retirement plan" (CFTC). Investor.gov suggests "a second opinion from a licensed, unbiased investment professional or an attorney" (Investor.gov). Whether metal belongs in your retirement plan, and how much, depends on your situation. A professional who doesn't earn money from the sale can help you think it through. For the trade-offs, see Gold IRA pros and cons and Gold IRA risks.

Related questions

How do I compare Gold IRA companies?

Compare written, same-day quotes for the same product, plus each firm's buyback terms and the full fee schedule of the custodian and depository it uses. Comparing ads or "free" promotions alone doesn't show the all-in cost. Our Gold IRA companies hub presents firms with the same fields for each.

Should the company choose my custodian?

A company may suggest one, but the custodian holds your IRA, and you sign its agreement. Check it yourself. Ask whether it has any financial relationship with the dealer.

What if a company refuses to put fees in writing?

FINRA and the CFTC both say to get all fees and prices in writing before you sign or pay. A firm that won't do that fails a basic check.