How to Choose a Reputable Bullion Dealer in the UK

Key facts

• Physical gold is not a regulated investment in the UK, so there is no FSCS or Financial Ombudsman protection. That makes your choice of reputable bullion dealer especially important.
• UK legal tender coins struck by The Royal Mint are generally exempt from Capital Gains Tax for UK taxpayers.
• Investment gold is exempt from VAT in the UK; silver, platinum and palladium are not.
• Compare the premium over the spot price, not just the headline price.

What makes a bullion dealer reputable?

A reputable bullion dealer in the UK shows its prices and premiums openly, sources from recognised mints and refiners, verifies customers under anti-money-laundering rules, and says clearly who owns the company and where it is based. Because physical gold is not covered by the FSCS or the Financial Ombudsman, these checks are your main protection.

Before you buy, check whether the dealer:

• names its company, registered address and parent group
• discloses any membership of the London Bullion Market Association (LBMA)
• shows live prices and buy-back prices
• names the mint or refiner of each product
• explains its shipping, insurance and storage terms in writing

Independent reviews

Independent review platforms show how a dealer handles deliveries, delays and buy-backs. Look for consistent patterns across many reviews rather than individual ratings.

Cash payments and AML checks

UK dealers that accept cash payments of €10,000 or more, including linked payments for the same purchase, must be registered with HMRC as High Value Dealers. Identity checks are a normal sign of a compliant dealer, not an inconvenience.

Premiums, spot price and CGT-exempt coins

The price of a coin or bar is the spot price of the metal plus a premium that covers minting, distribution and the dealer's margin. Comparing the premium over spot, rather than the headline price alone, shows what you actually pay for the product and the service around it.

Premium, spot and spread

The spot price is the current market price of the metal per troy ounce. The premium is the amount a dealer adds on top, and it is usually higher per ounce for smaller coins. The spread is the difference between the price at which a dealer sells to you and the price at which it buys back. Prices change throughout the day, so check the live gold price before you order.

Investment gold is exempt from VAT in the UK. Prices for UK customers do not include UK VAT; 20% VAT on silver, platinum and palladium is charged on import.

CGT-exempt coins

UK legal tender coins struck by The Royal Mint are generally exempt from CGT for UK taxpayers, while bars and foreign coins are not. See our British gold coins guide for details; this is not tax advice.

Buying from StoneX Bullion

StoneX Bullion is an LBMA Affiliate Member and part of StoneX Group Inc. You can see live prices in GBP, browse gold coins and gold bars, and have your order delivered with insured shipping. If you want to sell later, you can request a buy-back price on our sell gold page.

This article is for general information only. It is not investment, tax or legal advice. Tax rules can change, so check the current rules or speak to a qualified adviser.

Frequently asked questions

How do I buy gold in the UK?

You can buy gold coins and bars from a bullion dealer online or in person. Compare premiums over spot, check the dealer's ownership and LBMA membership, and choose insured delivery or storage. StoneX Bullion shows live prices in GBP.

Where should I buy gold in the UK?

Buy from a dealer that names its company and parent group, sources from recognised mints and refiners, and verifies customers under anti-money-laundering rules. Physical gold has no FSCS protection, so dealer checks matter.

Which online bullion dealers can I trust?

Trustworthy online dealers publish live buy and sell prices, name the mint of each product, offer insured shipping and disclose memberships such as the LBMA. StoneX Bullion is an LBMA Affiliate Member and part of StoneX Group Inc.

Is buying gold regulated in the UK?

Physical gold is not a regulated investment in the UK, so purchases are not covered by the FSCS or the Financial Ombudsman Service. Dealers that accept cash payments of €10,000 or more must register with HMRC as High Value Dealers.

What is a coin markup?

A coin markup, or premium, is the amount above the metal's spot price. It covers minting, distribution and the dealer's margin, and is usually higher per ounce for smaller coins.