Precious metals scams are getting harder to catch. Today's fraudsters don't just make cold calls or push too-good-to-be-true deals. Many now build entire websites that look polished and professional, with clean designs, live price tickers, and trust badges that seem completely legitimate.
Fake dealer websites are some of the most convincing scams out there, and some go as far as impersonating real, established dealers. We recently found one using Monument Metals' street address, award history, and credentials to look legitimate. It was only a few months old, yet it was built to fool even careful buyers.
This blog walks you through simple checks you can use to tell a real dealer from a fake one, so you can buy with confidence.
To spot a fake precious metals dealer website, compare its prices to the current spot price, click every trust badge to see if it links to a real verification page, look up the domain age with a WHOIS tool, and search the listed address. Prices below spot, no working phone number, and badges that don't click through are the biggest red flags.
A fake dealer website is an online store designed to look like a legitimate precious metals dealer, often with the goal of collecting payments for orders that never arrive. Some copy a real dealer's name or logo. Others, like the one we found, invent a new brand name and then borrow a real company's address, awards, and reviews.
These sites are cheap and fast to build on popular ecommerce platforms. They often attract buyers through social media ads, search results, or posts promising unusually low prices. Even the top result on a search page isn't a guarantee, because the FTC warns that scammers can place listings with misleading business names and phone numbers. People who order from fake sites commonly report never receiving their order, receiving items that aren't what was promised, or hearing about one shipping delay after another.
The good news is that fake dealers almost always leave clues. You just need to know where to look.
These red flags are visible within 30 seconds of landing on a page. If you spot even one, stop before you enter any payment details.
The spot price is the current market price for one troy ounce of raw gold, silver, or platinum. Legitimate dealers usually sell above spot, because minting, shipping, insuring, and storing coins all cost money. That difference is called the premium. You may occasionally see a reputable dealer run a limited-time deal at or near spot, but pricing far below spot is a different story.
If a coin is priced below the value of the metal inside it, the deal is not real. The fake site we found listed a 1 oz Gold American Buffalo $337 below the gold price shown on its own price ticker. Prices that low simply don’t add up for a real business.
It also pays to read the fine print on what a low price actually covers. Some listings show a photo of a full-size gold coin but sell a gold-plated version, a replica, or a much smaller piece. Before you check out, confirm the weight, purity, quantity, and every fee in your cart.
Banners like "15% off every order" or "Save 27%" are common in clothing stores, not bullion. Precious metals dealers work on thin margins, so steep storewide discounts on gold and silver are a strong warning sign.
A legitimate dealer gives you a way to speak with a real person. Be cautious if the only contact options are an email address, a chat app like WhatsApp, or a phone number with an area code that doesn't match the listed address. The fake site we found paired our own Frederick, Maryland company address with a Los Angeles WhatsApp number. A real Maryland business would list a working local or toll-free line, not a chat app tied to a number across the country.
Real trust badges from organizations like the Better Business Bureau, Shopper Approved, or Trustpilot link to a verification page. If you click a badge and nothing happens, or it simply opens as an image, treat it as unverified.
The small lock icon next to a web address means your connection to the site is encrypted. It doesn't tell you anything about who runs the site or whether they're honest. According to the FTC's online shopping guidance, scam websites can use encryption too, so treat the padlock as a basic safety feature, not a stamp of approval.
If a site passes the quick checks, take about five more minutes before you buy. These steps catch the more polished fakes.
Every website address has a public registration record. Type the site's address into a free WHOIS lookup tool to see when the domain was created. If a dealer claims to have served customers since 2018 but its website is only a few months old, the story doesn't add up.
Keep in mind that domain age is a clue, not a verdict. New businesses launch all the time, and older domains can be taken over by bad actors. Use it alongside the other checks in this guide rather than on its own.
Paste the listed address into Google Maps or a search engine. If it belongs to a different company, the site is likely impersonating that business. That's exactly what we ran into. The fake dealer we found used 331 Aviation Way, Suite 2, Frederick, MD 21701, which is our own company address in Frederick.
Search the business name directly on the website of the organization that supposedly gave the award or rating, such as bbb.org or inc.com. Always type the address yourself instead of clicking a link the dealer provides. If the business isn't listed there, the badge isn't real.
A trust badge is a claim, not proof. Anyone can save a logo image and paste it onto a website, and scammers often copy the BBB rating, award logos, or industry seals of an established dealer and display them as their own.
Beyond checking whether a badge clicks through, look at the timeline. Awards like the Inc. 5000 are based on several years of verified growth, so a brand-new website claiming awards from years before it existed doesn’t add up. Then compare the details. If the address, award years, and ratings match another company exactly, those credentials most likely belong to that company.
Some warning signs are easy to miss on their own. When you see several together, it's time to walk away.
Shipping times vary from dealer to dealer, and even reputable dealers may need a little extra time during periods of high demand. What matters is transparency. A legitimate dealer clearly explains when your order will ship and keeps you updated with tracking. Be cautious of a site with unusually long or vague delivery windows and no explanation, since that extra time can give scammers a chance to collect payments before buyers grow suspicious.
If every gold product with an impossible price is "sold out," the low prices may only exist to pull you in. Once you're on the site, you're nudged toward whatever is still available.
Scam sites often read smoothly but say nothing specific. Look for real details about how the company sources inventory, where it ships from, and how long it has operated. Vague phrases like "dependable service" and "clear information" with no specifics are a warning sign.
Broken social media links, placeholder text, and mismatched labels suggest a site was assembled quickly. Also watch for industry logos with the wrong name or description next to them. Real dealers know their industry well, so mix-ups like that suggest the site was built by someone outside of it.
Reputable dealers buy metals back from their customers, and they make that process easy to find. A site that only sells and never buys deserves a second look.
| What to Check | Legitimate Dealer | Fake Dealer |
|---|---|---|
| Pricing | At or above spot | Far below spot |
| Discounts | Limited-time deals | Storewide "15% off" banners |
| Contact | Phone, email, and a real address | Email or WhatsApp only |
| Trust Badges | Link to verification pages | Images that don't click through |
| Website Age | Matches company history | Only a few months old |
| Buyback | Clearly offered | Not offered |
Monument Metals operates only at monumentmetals.com. Before you place an order, check that address in your browser bar, and bookmark it so you always land on the real site.
Our company address is 331 Aviation Way, Suite 2, Frederick, MD 21701. We hold an A+ rating with the Better Business Bureau and have appeared on the Inc. 5000 list of America's fastest-growing private companies.
If you ever see another website using our address, our awards, or our name, please let us know. You can reach our team at 1-800-974-3121 or support@monumentmetals.com. We would much rather hear from you before you buy than after.
If you think you've paid a scam website, act quickly. The sooner you report it, the better your chances of recovering your money.
How can I tell if a precious metals dealer is legit? Check that prices are at or above the current spot price, the dealer lists a working phone number, and its credentials can be verified on the issuing organization's own website. A legitimate dealer will also name its leadership and offer a buyback program.
Why is buying below spot price a red flag? The spot price is the market value of the raw metal. Dealers pay above spot to acquire coins, so a price below spot means the seller would lose money on every sale. That almost always means the product doesn't exist or isn't genuine.
Can a website have a real address and still be a scam? Yes. Fake dealer sites often use a real company's address to look trustworthy. Searching the address will usually show which business actually operates there.
Are trust badges on a website proof that a dealer is legitimate? No. Badges are images that anyone can copy. A real badge links to a verification page, and you can confirm the rating yourself by searching the business on the issuer's website.
What should I do if a website is using Monument Metals' name or address? Please contact our team right away. Don't place an order, and share the website address with us so we can report it.
Is it safe to buy gold and silver online? Yes, when you buy from an established dealer you've verified. Confirm the website address, check the dealer's BBB profile on bbb.org, and make sure prices are at or above spot. Most problems come from fake sites, not from buying online itself.
What is a normal premium over spot price? Premiums depend on the product, its size, and how much demand there is. Bars and rounds usually carry lower premiums than government-minted coins like American Eagles. Compare the same product at a few reputable dealers. A price far below all of them is the warning sign.
How do I check how old a website is? Type the website address into a free WHOIS lookup tool like who.is. It shows the date the domain was registered. If a dealer claims years of history but its domain is only months old, look closer.
Does the padlock icon mean a website is safe? No. The padlock means your connection is encrypted. It doesn't tell you who runs the site or whether they're honest, and scam websites can use it too.
Where do I report a fake precious metals website? Report it to the FBI's Internet Crime Complaint Center at ic3.gov, the FTC at reportfraud.ftc.gov, and BBB Scam Tracker. If the site is using Monument Metals' name or address, contact us at 1-800-974-3121 or support@monumentmetals.com.