PRICING GUIDE
Read the full quote.
The reference price, purchase price and buyback price serve different purposes. Ask for all three on the same basis.
Start with comparable units.
Confirm the metal, fine troy ounces, currency and reference timestamp. A troy ounce equals 31.1034768 grams. Gross weight includes other material in an alloy. The calculation uses fine weight.
Read the two sides.
The dealer’s ask is what you would pay for the specified product. The dealer’s bid is what it offers to pay you at a stated time and under its product conditions. A benchmark is a reference with a defined delivery and publication basis. It is not a standing offer for a coin or a bar.
Write down the total.
Ask for the premium or markup, shipping, insurance, custody minimums, administrative charges and resale requirements. Verify the written quote and actual sale terms. The CFTC advisory offers practical questions to ask before committing funds.
Primary sources.
- LBMA · About daily auction pricesAccessed 6 November 2026
Defines the four London auctions, the benchmark units, publication delays and administrator. A benchmark is separate from a retail quote.
- LBMA · Precious metal benchmarksAccessed 6 November 2026
Describes the benchmark conventions and wholesale context.
- NIST · Conversion Factors for Precious Metal SalesAccessed 6 November 2026
One troy ounce is 31.1034768 grams. The page distinguishes troy and avoirdupois units.
- CFTC · Questions before buying physical metalsAccessed 6 November 2026
Advises readers to get the charges and buyback price in writing and ask about custody and insurance.
USE THE TOOLS
Put the figures on a common basis.
Use one currency and the same fine weight to see how assumptions change the comparison.