Key takeaways
- Precious metals combine large tickets, near-instant resale value, and shipment of a liquid asset — a fraud and chargeback profile acquirers price carefully.
- AML/KYC and reporting obligations sit on top of normal payment compliance and shape how you get underwritten.
- Strong fraud screening, verified delivery, and sometimes ACH or stablecoin rails for large orders reduce both disputes and processing cost.
Payment processing for precious metals dealers is defined by a hard truth: you're shipping a liquid, resellable asset, often on large tickets, to buyers you may never meet. Gold, silver, and platinum can be resold for near-face value the moment they arrive, which makes bullion an attractive target for stolen-card fraud and friendly-fraud chargebacks alike. That risk profile — not any legal cloud over the product — is why acquirers treat metals dealers as high-risk and underwrite them closely.
What makes metals a high-risk category
Three factors stack up. First, ticket sizes run large, so a single chargeback can be thousands of dollars. Second, the product is essentially cash-equivalent, so fraudsters love it. Third, spot prices move, so a buyer who watches the market drop may dispute a charge to escape a bad trade. Underwriters weigh all three when they set your terms and reserve.
AML and KYC obligations
Precious metals dealers often qualify as "dealers in precious metals, stones, or jewels" under Bank Secrecy Act rules, which can trigger anti-money-laundering program requirements and reporting on large or structured cash transactions. This compliance layer sits on top of ordinary payment rules, and underwriters want to see you take it seriously. Treat AML/KYC as a program you build with your processor and your own counsel — not something to improvise. Our guide to payment processing for high-risk businesses frames how compliance and underwriting interact.
Fraud screening is your first line of defense
Because resale is instant, stopping fraud before you ship matters more here than almost anywhere. Layer your defenses:
- AVS and CVV checks, plus 3-D Secure on card-not-present orders.
- Velocity rules and manual review on large or first-time orders.
- Address verification and signature-required, insured shipping.
A capable fraud detection layer that scores transactions in real time is worth its cost many times over when a single fraudulent order can be $10,000 of metal out the door.
Alternative rails for large orders
Cards aren't always the right tool for big bullion orders. ACH payments carry lower processing cost and, once cleared, are harder to reverse than a card charge — useful for high-value, established buyers. Some dealers also accept stablecoin payments for large or international orders, which settle without chargeback risk. Both can meaningfully cut your cost and dispute exposure on the orders that matter most; just build in the right holds so you ship only after funds clear.
Reserves and pricing
Expect a rolling reserve given ticket size and fraud exposure — commonly a percentage of volume held for a set period. On pricing, large-ticket merchants benefit from transparent pass-through (interchange-plus) pricing rather than flat blended rates, because you see the true interchange and markup instead of overpaying on high-value transactions.
Keeping chargebacks under control
Delivery evidence wins metals disputes: signed, insured, trackable shipments tied to the billing address. Keep your ratio well under the roughly 0.9%–1% network thresholds, and when a dispute is worth fighting, strong proof of delivery and identity verification is your case. A disciplined chargeback management process turns that evidence into won representments.
Selling precious metals online is a legitimate, established business, but it lives or dies on fraud control and clean compliance. Pair a metals-savvy acquirer with layered fraud screening, verified delivery, and the right rail for each order size, and keep your AML program tight. Do that and the payment side becomes a manageable cost of doing business rather than the risk that sinks it.