How to Read a Bullion Dealer's Quote

Short answer: convert the quote into a premium over spot by dividing the price by the melt value, then add shipping, tax and any payment fees, and check how long the price is held. Compare the all-in cost per gram across dealers, not the headline price.

Start with the melt value

Multiply the fine weight by the spot price to get the melt value. The difference between the quote and the melt value is the premium. The premium over spot calculator shows it as a percentage.

Check what else is added

• Shipping and insurance
• Sales tax or VAT where it applies
• Payment-method adjustments: some dealers charge more for cards than for bank transfers
• Handling or minimum-order fees

Understand how the price moves

Many dealers price off the live spot price plus a premium, so the quote changes as spot moves. Ask how long a quote is held and what happens if the price moves before payment.

Ask for the buyback price

The price you can sell for matters as much as the price you pay. Ask what the dealer would pay for the same item today. See the glossary entry on buyback price.

Compare per gram

Divide each all-in cost by the fine weight in grams, so quotes for different sizes can be compared directly. The lowest cost per gram is not always the best choice if the product is hard to resell, but it is the right place to start.