What does a sample annotated quote look like?
A clean quote is written, itemized, and time-stamped, showing product, quantity, spot reference, premium, subtotal, shipping, total due, estimated buyback, and an expiration time. Every line reconciles to the next, and nothing is left to be assumed or explained verbally.
This hypothetical USD example uses ten American Gold Eagle bullion coins, each containing one troy ounce of fine gold. It is not current pricing, an offer or a guarantee. Real premiums, bids and quote windows vary. Our own premium ranges are published on the pricing page. What matters is the shape: every line present, every number reconcilable, every time stated.
Sample quote
Written · itemized · time-stamped
Illustrative pricing
- Product
- American Gold Eagle bullion; one troy ounce fine gold per coin
- Quantity
- 10 coins; 10 troy ounces fine gold total
- Spot reference
- $2,400.00 / troy ounce (10:42 AM ET)
- Premium per coin
- $135.00 (5.625%; about 5.6% over spot)
- Purchase price per coin
- $2,535.00
- Metals subtotal
- $25,350.00
- Assumed insured shipping
- $0.00 (included in this example)
- Subtotal including assumed shipping
- $25,350.00
- Estimated same-time buyback
- $2,380.00 / coin; $23,800.00 total
- Purchase minus bid
- $1,550.00; about 6.1% of purchase cost
- Indicative quote expires
- 10:57 AM ET (15 minutes; hypothetical)
All numbers are hypothetical USD, not current pricing, an offer or a guarantee. The subtotal includes assumed $0 insured shipping, but excludes any applicable taxes, storage, custodian, payment and other charges. Confirm all applicable charges before commitment.
The purchase price is $2,535 per coin ($2,400 + $135). The $1,550 purchase-minus-bid difference is about 6.1% of purchase cost, not required price appreciation. Before additional costs, resale proceeds would need to increase about 6.5% to recover $25,350. That does not predict future spot prices or dealer bids.
What does each line on the quote actually mean?
Each line has a specific purpose: product and quantity identify what you're buying, spot reference and premium set the price, subtotal and shipping build the total due, and buyback plus an expiration time show what the dealer would pay back today and how long the price holds.
Product
The exact coin or bar, year, and mint, never a generic 'gold coin.' If the product line is vague, the pricing that follows is meaningless.
Quantity
Stated in units (coins, bars) and in total ounces. Absence usually means the total will be back-calculated to hit a target dollar figure instead.
Spot reference
The wholesale market price at a specific timestamp. No timestamp means no spot reference, just a number the seller chose.
Premium per unit
The dealer's markup over spot, expressed per coin and as a percentage. This is the single most important line on the quote. If it is missing, insist on it in writing before doing anything else.
Purchase price per coin
In this hypothetical example, $2,400 of fine gold at spot plus the $135 premium gives a $2,535 purchase price per coin, before additional costs.
Subtotal
Metal cost plus premium, before shipping. Should reconcile exactly to (spot × ounces) + (premium × units).
Shipping & insurance
Called out as its own line. This example assumes $0 insured shipping; it is not a general shipping offer. Confirm the applicable shipping and insurance terms for your order.
Subtotal including assumed shipping
This example's $25,350 subtotal includes assumed $0 insured shipping, but excludes any applicable taxes, storage, custodian, payment and other charges. Confirm those separately before commitment.
Estimated same-time buyback
The estimated bid for the same product at the same reference time: $2,380 per coin, or $23,800 total here. Obtain a current written indication and its conditions; it is not a promise about a later bid.
Purchase minus bid
The $25,350 purchase cost minus the $23,800 estimated same-time bid is $1,550, about 6.1% of purchase cost. This difference is not required spot appreciation and excludes additional costs.
Expiration time
A stated expiration and conditions before placement. This example uses 15 minutes; a day-long window is not inherently illegitimate. Indicative expiry is different from a transaction's locked price after placement.
Where do pricing games usually hide on a quote?
Pricing games tend to live in five places: a missing premium disclosure, shipping used to pad the spread, a verbal quote that changes at commitment, silence on buyback, and no expiration time. A clean, written quote closes off all five at once.
Most pricing games are not exotic. They live in the same five places on the same one-page document. For where the widest spreads usually come from, see celebrity endorsements and gold dealer pricing and proof coins vs. bullion.
- Vague "market pricing" with no premium stated. If the quote shows a total but never breaks out premium over spot, you cannot compare it to any other dealer, which is the point.
- Shipping and handling used as spread padding. A "free shipping" line paired with an inflated premium is the same math as an honest shipping fee, except you never see it.
- Bait quotes that change at commitment. A number quoted verbally becomes a different number once the wire is sent or the coins ship. Written, time-stamped quotes eliminate this.
- Silence on buyback. Any dealer will happily sell. A dealer who won't state, in writing, on the same page, what they'd pay today to buy back the same product is quietly telling you the spread is wide.
- No expiration time. Metals prices move minute to minute. A quote with no clock is a marketing number, not a price you can transact against.
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Selling rather than buying? Use the companion guide to compare gold-bar offers and payment terms.