Platinum and palladium dealer-quote checklist

What to take away

• Put the metal name in every quote line so platinum and palladium cannot be switched accidentally.
• Compare the exact product, year, finish, package, quantity, payment, and destination.
• A product specification validates attributes, not seller reliability or a quoted premium.
• Require a current net bid as well as the purchase ask.
• Record refusals, package conditions, and testing costs because they reveal market depth.

Use this checklist when requesting or reviewing a retail platinum or palladium quote. Complete it again if the market moves or the seller substitutes a product.

Metal and product identity

• PLATINUM or PALLADIUM written in full
• Chemical symbol checked against the name
• Mint or refiner and product line fixed
• Coin, bar, proof, uncirculated, or bullion finish stated
• Year, denomination, privy mark, and mint mark included where relevant
• Gross weight, fineness, and fine content stated separately
• Dimensions, edge, serial, package, and certificate specified
• New, secondary-market, random-year, or dealer-choice condition disclosed

For example, the American Eagle Palladium Bullion Coin Act of 2010 authorizes a twenty-five dollar coin that weighs one troy ounce and contains .9995 fine palladium, and leaves its size and thickness to be determined by the Secretary. That is the entire statutory specification, which is why a quote for such a coin still has to state year, finish, packaging, and condition separately. Use only the attributes tied to that exact coin and year.

Reference price

• Benchmark provider named
• Platinum or palladium confirmed
• Currency and troy-ounce or gram unit labeled
• Timestamp and time zone saved
• Live, delayed, prior-day, futures, or dealer feed identified
• Conversion method recorded if quote units differ

A benchmark for unallocated wholesale metal is a reference. It is not the retail item, packaging, delivery, or guaranteed bid.

Purchase ask

• Merchandise price and quantity tier
• Premium in dollars per fine ounce
• Premium as percentage of metal reference
• Payment fee or discount
• Tax, shipping, insurance, and handling
• Required account, membership, or storage fee
• Delivered total and validity period
• Cancellation or market-loss fee

Bar-specific terms

Ask what the weight was taken on. California's Division of Measurement Standards explains that commercially used scales must be legal for trade, that its program applies specifications, tolerances and use requirements to devices placed in service, and that a seal on the device shows when it was last inspected. A dealer who weighs in front of the buyer on a sealed device is offering evidence; a weight quoted from a catalog entry describes that catalog entry and does not prove the offered bar matches it.

• Bar and package serials must match
• Card condition standard stated
• Opening consequences stated
• Secondary-market substitutions permitted or rejected
• Verification method works through package, if promised

Coin-specific terms

• Bullion and collector versions separated
• Exact design and edge for year confirmed
• Government guarantee scope understood
• Capsule, box, and certificate included only if listed
• Collector premium supported by actual comparable bids

Current buyback

• Dealer confirms it buys the exact product
• Bid is fixed or linked to a named benchmark
• Bid timestamp and duration recorded
• Packaging and condition rules written
• Testing or assay charge disclosed
• Minimum quantity and settlement time disclosed
• Shipping, insurance, and payment deductions included
• Second independent bid obtained

Calculate immediate net exit and round-trip gap. Record "no bid" as a result, not zero or blank.

Seller and fulfillment

• Legal identity and physical contact route verified
• Inventory is owned, allocated, or expected, with status explained
• Payment recipient matches seller records
• Dispatch deadline and carrier stated
• Full-value transit insurance and signature confirmed
• Loss, damage, delay, substitution, and return process saved
• Complaint and dispute route available

Verification and custody

• Issuer specification archived
• Weight and dimension method planned
• Examiner supports the correct metal and product geometry
• Conflicting results trigger quarantine
• Secure storage ready before delivery
• Insurer confirms metal and valuation terms in writing
• Inventory, serial, photos, and movement record prepared

Stop conditions

Decline or pause when the dealer will not identify the metal, product, delivered total, location, or return terms; claims risk-free appreciation; refuses a written invoice; switches to a high-premium collector item; or promises an exit without stating the bid method.

Common questions

Can a dealer quote "PGM" without naming the metal?

Ask for the metal in full. Platinum and palladium have different prices, products, and specifications.

Is a low premium enough to accept the quote?

No. Seller evidence, delivery, condition, verification, custody, and net resale also belong in the decision.

Should a missing buyback be treated as zero?

No. Record that the dealer would not quote and seek other real buyers. The missing market is itself relevant.

Does serialized packaging guarantee authenticity?

No. It provides a consistency check that must be combined with seller provenance, product details, and suitable examination.