How to vet a gold bullion supplier

Question

In some sense, this question is a general one and not specific to my case.

I am looking to order gold bullion from a seemingly reputable website.

Funnily enough, I've ordered countless things before online. I think we tend to take for granted the authenticity of a websites services. This is not surprising, given that transaction values are low.

In my case, I would like to make one large purchase through this website and that got me thinking - how does one actually vet a suppliers authenticity. By authenticity, I mean, they deliver what they say will deliver after your purchase it, and is not some scam/fraudsters.

This website has a catalogue, a URL that has persisted for weeks and what I think are reviews from its .co.uk domain although the one in question is a .eu domain.

The truth is, no matter how authentic it looks, I'm having trouble trusting it. So just how does one vet an e-commerce supplier? Is there a trusted third party or verification authority that does this kind of stuff?

(I didn't share the link as I'm unsure whether stack exchange allows for sharing URL's as it might be seen as spam).

Answer 1

Prepare to be fleeced online. Go to a jeweler or a pawn shop, and pay the markup.

You are right - you should not trust a gold website. Look at Gold ETFs available in the U.K. if you want it as an investment.

Otherwise, your best bet is likely jewelry stores and pawn shops. Both have staff that can spot fakes, and have a vested interest in selling you the real product.

It'll be more expensive since you're paying for 1) the ability to examine it before you buy yourself and 2) 3rd party expertise in spotting fake gold.