How to verify a gold seller
By the Vanguard Verify desk · Published 2026-10-23 · Updated 2026-11-01
Short answer: a genuine gold seller can show a verifiable company record, a legal export route, an assay from a recognised refinery or laboratory, and accepts safe payment against delivery and assay at a recognised vault or refinery. Never pay fees in advance.
Checks
- Company and licence: registry record plus any mining or precious-metals dealer licence required in the exporting country.
- Export permit: confirm with the exporting country’s mining ministry or authority that export is permitted.
- Refinery chain: for bars, check the refiner on the LBMA Good Delivery List.
- Assay: fresh assay at an independent lab or the buyer’s chosen refinery.
- Payment: pay against delivery and assay through a bank or secure vault, not upfront to an individual.
Red flags
- Price far below the LBMA spot price.
- Fees for “export tax”, “insurance” or “clearance” before you see the gold.
- Seller only reachable by personal phone or messaging apps.
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FAQ
What is LBMA Good Delivery?
A list maintained by the London Bullion Market Association of refiners whose bars meet its standards.
Vanguard Verify is run by Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South, Licence 14282. This answer is general information, not legal or financial advice.