Your physical gold buying checklist

Set out what you want to own.

Start with the purpose of the purchase, the money you can commit and the period you expect to hold it. Do you want exposure mainly to gold content, or are you also interested in a particular collectible issue? Write down the distinction before comparing products.

Keep the possibility of a loss in view. Gold does not pay interest or dividends, and a purchase should not leave you without the cash you need for everyday spending or emergencies.

Identify the exact product.

• Record the full product name, year where relevant, weight and purity.
• Ask whether photographs show the actual item or a representative example.
• For a graded coin, check the grading company, grade and certification number.
• Confirm what packaging, certificates and invoice will be supplied.

A familiar brand or a high grade is a starting point for checking details, rather than a substitute for doing so.

Confirm the money and the arrangements.

Request the full quotation and its expiry time in writing. Read the payment and fulfilment terms before sending money. Confirm delivery costs, applicable cover and what happens if the delivery cannot be completed.

If using storage, ask who holds the metal, how ownership is documented, whether your holdings are specifically allocated, what cover applies and how access or withdrawal works. Review recurring charges as well as the initial purchase cost.

Plan for a future sale.

Find out how resale would work, how a buying price is set and whether testing, postage or other charges apply. Consider whether your chosen format lets you sell only part of the holding.

A checklist can help you ask better questions, but it cannot determine whether a particular investment is suitable for you.