Dillon Gage Reviews 2026: Is This Precious Metals Dealer Legit?

Thinking about buying gold or silver from Dillon Gage but not sure if they’re trustworthy? You’re not alone — and you’re in the right place. This in-depth Dillon Gage review breaks down everything you need to know before you buy: pricing, reputation, customer experiences, and how the company stacks up against other precious metals dealers. Read on to find out whether Dillon Gage deserves your business.

What Is Dillon Gage?

Dillon Gage Metals is one of the world’s largest wholesale precious metals trading, refining, and storage companies. Founded in 1976 and headquartered in Addison, Texas, the firm serves a global network of coin dealers, financial institutions, banks, brokerage firms, and qualified high-net-worth investors. Through its extensive precious metals marketplace, refining operations, and secure storage services, Dillon Gage has established itself as a major participant in the international gold, silver, platinum, and palladium markets.

The company is also the parent organization of several well-known precious metals businesses, including International Depository Services (IDS), which provides secure bullion storage solutions across North America. Over nearly five decades in business, Dillon Gage has built a reputation for liquidity, market expertise, and comprehensive precious metals services that support both retail and institutional investors.

Who Owns Dillon Gage?

Dillon Gage is a privately held precious metals and financial services company founded in 1976 by Stephen W. Miller. The company operates under the umbrella of Dillon Gage Holding Inc., allowing its leadership team to maintain direct control over the organization’s operations, strategic direction, and long-term growth initiatives.

Because Dillon Gage is privately owned, it is not listed on any public stock exchange and is not subject to the same shareholder pressures faced by publicly traded companies. This structure has enabled the firm to remain focused on serving institutional clients, precious metals dealers, and financial professionals for nearly five decades.

Key Leadership

Stephen W. Miller – Founder & Chief Executive Officer

Stephen W. Miller co-founded Dillon Gage in 1976 and has played a central role in transforming the company from a regional brokerage operation into one of the largest wholesale precious metals trading firms in North America. Under his leadership, the company expanded into refining, secure storage, technology solutions, and institutional precious metals trading.

Terry Hanlon – President, Dillon Gage Metals

Terry Hanlon oversees the company’s core precious metals division and manages many of its day-to-day wholesale trading and refining operations. He is also a recognized industry spokesperson who frequently represents Dillon Gage within major precious metals organizations, including the London Bullion Market Association (LBMA).

Corporate Structure and Subsidiaries

Dillon Gage operates through several specialized divisions that support different areas of the precious metals and financial services industries.

Dillon Gage Metals

The company’s flagship division focuses on wholesale bullion trading, precious metals refining, mint distribution, and dealer services. It serves coin dealers, financial institutions, brokerages, and qualified investors throughout North America and beyond.

International Depository Services (IDS)

IDS is Dillon Gage’s wholly owned storage subsidiary, providing secure, fully allocated precious metals vaulting services through facilities located in Delaware, Texas, and Canada. The division specializes in institutional storage, self-directed IRA custody support, and precious metals logistics.

Dillon-Gage Securities, Inc.

This subsidiary provides specialized brokerage and financial services, supporting various investment and commodities-related transactions within the broader Dillon Gage organization.

Dillon Gage Review Summary

Location:

Addison, Texas

 Address:

15301 N. Dallas Pkwy., Ste. 200

Addison, TX 75001

Management:

Steve Miller (President)

Year Founded:

1976

Website:

www.dillongage.com

Rating:

3/5

Dillon Gage Products & Services

Dillon Gage is a comprehensive precious metals company that offers wholesale trading, refining, secure storage, and technology solutions to dealers, financial institutions, and professional investors worldwide. Its diverse range of services has made the company a major force in the global precious metals industry.

Physical Bullion Products

Dillon Gage provides access to a wide variety of investment-grade precious metals products, including:

• Gold: Gold bars ranging from 1 oz to 400 oz, as well as popular sovereign coins such as American Gold Eagles, Canadian Gold Maple Leafs, and South African Krugerrands.
• Silver: Investment-grade silver coins, rounds, and bars from 1 oz to 1,000 oz, including the company’s own ISO-certified Dillon Gage Silver Bars.
• Platinum & Palladium: Government-issued bullion coins and industry-standard bars suitable for both investment and industrial applications.
• Rhodium: Specialty rhodium bars and sponge products designed for industrial users and advanced precious metals investors.

Refining and Assaying Services

Through its advanced refining facility in Dallas, Texas, Dillon Gage offers professional refining solutions for businesses and individuals handling precious metals.

Key services include:

• Refining of jewelry scrap, dental gold, manufacturing byproducts, and other precious metal materials.
• Processing of low-grade sweeps, polishing residues, floor dust, and crucible scrap.
• Precious metals testing using X-ray fluorescence (XRF) technology and traditional fire assay methods.
• Flexible settlement options, including cash payments, bullion exchanges, and account credits.

Secure Storage Solutions

Dillon Gage provides secure precious metals storage through its subsidiary, International Depository Services (IDS).

Storage features include:

• High-security vault facilities located in Delaware, Texas, and Canada.
• Fully segregated storage that keeps customer assets separate from company inventory.
• Approved storage options for self-directed precious metals IRAs and Canadian RRSP accounts.
• Comprehensive all-risk insurance coverage backed by leading global insurance providers.

Trading Technology and Digital Services

In addition to physical metals services, Dillon Gage has developed several technology platforms that support the modern precious metals marketplace.

These include:

• FizTrade®: A real-time electronic trading platform that enables dealers to buy and sell precious metals around the clock while locking in live market prices.
• API Integration Services: Pricing feeds and inventory tools that allow dealers to connect Dillon Gage’s live market data directly to their websites and e-commerce platforms.
• DGGold™: A digital gold ownership platform that provides institutional clients with access to physical gold backed by audited vault holdings.

By combining wholesale bullion distribution, refining expertise, secure storage, and innovative trading technology, Dillon Gage delivers an end-to-end precious metals ecosystem for investors, dealers, and financial institutions.

Dillon Gage Pricing and Fees

Dillon Gage utilizes a pricing structure that differs significantly from traditional retail precious metals dealers. As a wholesale-focused company serving coin dealers, financial institutions, refiners, and commercial clients, most pricing is customized based on transaction volume, product type, and market conditions. The company does not charge a fee to open a wholesale trading account, but costs vary across its trading, refining, and storage divisions.

Wholesale Bullion Trading Fees

Dillon Gage does not publish fixed commissions or standardized markups for bullion transactions. Instead, pricing is based on live precious metals market conditions and the size of each order.

Key features of its trading model include:

• Real-Time Market Pricing: Buy and sell orders executed through the company’s trading desk or FizTrade® platform are tied directly to live global spot prices.
• Wholesale Premiums: Customers pay a premium above spot price that varies depending on the metal, product availability, mint supply, and order size.
• Volume-Based Pricing: Larger transactions generally qualify for more competitive pricing and tighter spreads.
• Locked-In Rates: Once a transaction is confirmed, the quoted price is guaranteed regardless of subsequent market fluctuations.

Precious Metals Refining Fees

Dillon Gage’s refining division uses a payout-based model rather than charging only flat service fees. Clients receive a percentage of the recovered metal value after refining, with payout rates varying by metal type and lot size.

The company maintains a minimum refining charge of $250 per lot for most submissions.

Typical Refining Payout Structure

Additional costs may apply for specialized services, including:

• Assaying and metal-content verification.
• Removal and processing of diamonds or gemstones from jewelry lots.
• Handling of low-grade or heavily contaminated precious metal material.

Customers may reduce certain refining costs by accepting settlement in physical bullion products rather than cash proceeds.

Storage Fees Through IDS

Secure storage is offered through Dillon Gage’s subsidiary, International Depository Services (IDS).

Unlike many retail depositories that charge flat annual fees, IDS generally calculates storage costs as a percentage of the total value of the assets being stored.

Storage fees are influenced by several factors, including:

• The selected vault location (Delaware, Texas, or Canada).
• The overall value and quantity of stored metals.
• Whether the account is personal, institutional, or associated with a self-directed IRA.
• Specific storage requirements and reporting services.

Because all holdings are fully allocated and segregated, pricing is customized and typically billed monthly or quarterly.

Bottom Line

Dillon Gage’s pricing structure is designed primarily for high-volume traders, dealers, refiners, and institutional clients rather than retail investors. While the company does not publicly disclose standardized markups or storage rates, its wholesale model generally provides competitive pricing, real-time market execution, flexible refining settlements, and secure allocated storage solutions tailored to each client’s needs.

How to Get Started With Dillon Gage

Opening an account with Dillon Gage is a straightforward process for qualified businesses and industry professionals. Because the company primarily operates as a wholesale precious metals provider, its services are geared toward dealers, financial institutions, refiners, and commercial clients rather than individual retail investors.

1. Choose the Appropriate Account Type

Before applying, determine which Dillon Gage service best matches your business needs:

• Trading Account: Designed for coin dealers, brokerage firms, financial institutions, and precious metals professionals who want to buy and sell bullion through the company’s trading desk or FizTrade® platform.
• Refining Account: Intended for jewelers, pawnshops, manufacturers, and businesses that need precious metals refining and assaying services.
• Storage Account: Available through International Depository Services (IDS) for clients seeking secure, fully allocated precious metals storage.

2. Prepare the Required Documentation

As a regulated precious metals wholesaler, Dillon Gage follows strict Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.

Applicants are typically asked to provide:

• Business formation documents, such as articles of incorporation, LLC filings, or partnership agreements.
• Federal Tax Identification Number (EIN) documentation.
• A valid resale certificate if purchasing metals for resale purposes.
• Government-issued photo identification for business owners and authorized account users.
• AML compliance documentation for businesses subject to FinCEN precious metals dealer regulations.

3. Complete the Account Application

Once your documentation is ready, you can submit an application through Dillon Gage’s online account registration system.

The application process generally includes:

• Completing the online registration form.
• Providing banking information for settlement purposes.
• Submitting trade references if applying for credit privileges or specialized payment terms.
• Compliance review and verification of business credentials.

Most applications are reviewed and approved within several business days, although processing times may vary depending on the complexity of the account.

4. Fund Your Account and Begin Trading

After approval, a Dillon Gage representative will help finalize the onboarding process.

New clients typically receive:

• Access to the FizTrade® electronic trading platform.
• Real-time precious metals pricing and market data.
• Trading and settlement instructions.
• Wire transfer and ACH payment setup options for future transactions.

Once funding is complete, approved clients can begin buying, selling, refining, or storing precious metals through Dillon Gage’s extensive wholesale network.

Pros of Dillon Gage

Dillon Gage has earned a strong reputation within the precious metals industry thanks to its extensive wholesale network, advanced trading technology, secure storage solutions, and nearly five decades of operational experience. Below are some of the company’s most notable advantages.

1. Direct Access to Major Sovereign Mints

One of Dillon Gage’s biggest strengths is its ability to source bullion directly from leading government mints.

• Maintains direct purchasing relationships with major sovereign mints, including the U.S. Mint and the Royal Canadian Mint.
• Access to priority inventory allocations during periods of elevated demand and market shortages.
• Reduced reliance on intermediaries, helping support competitive wholesale pricing and tighter trading spreads.
• Consistent access to highly sought-after bullion products.

2. Advanced Trading Technology

Dillon Gage offers one of the most sophisticated precious metals trading infrastructures available to dealers and institutions.

• Proprietary FizTrade® platform provides electronic bullion trading nearly around the clock.
• Real-time pricing and order execution tied directly to global precious metals markets.
• Seamless API integration allows dealers to display live wholesale pricing on their websites.
• Supports efficient inventory management and automated pricing updates.

3. Strong Fulfillment and Distribution Network

The company’s logistics capabilities help streamline precious metals transactions for commercial clients.

• Fast order processing and nationwide distribution capabilities.
• Blind drop-shipping services that allow dealers to ship directly to customers without revealing the supplier.
• Scalable infrastructure capable of supporting both small and large-volume transactions.

4. Secure Precious Metals Storage

Through its subsidiary, International Depository Services (IDS), Dillon Gage offers institutional-grade storage solutions.

• Fully allocated and segregated storage ensures customer assets remain separate from company inventory.
• High-security vault facilities located in Texas, Delaware, and Canada.
• Comprehensive insurance coverage designed to protect stored assets.
• Regular audits and strict compliance standards enhance security and transparency.

5. Efficient Refining Services

Dillon Gage operates a modern refining facility capable of processing a wide variety of precious metal materials.

• Quick turnaround times for jewelry scrap, industrial materials, and precious metals sweeps.
• Advanced assaying technologies ensure accurate metal-content analysis.
• Flexible settlement options, including cash payments, bullion products, and account credits.
• Specialized stone-removal services help maximize the value recovered from jewelry lots.

6. Established Industry Reputation

Few precious metals companies can match Dillon Gage’s longevity and industry standing.

• Founded in 1976 with nearly 50 years of continuous operation.
• Serves dealers, financial institutions, refiners, and investors worldwide.
• Maintains strong relationships throughout the global precious metals marketplace.
• Recognized as an Associate Member of the London Bullion Market Association (LBMA).
• Holds an A+ rating with the Better Business Bureau, reflecting a longstanding commitment to customer service and business integrity.

Cons of Dillon Gage

Although Dillon Gage is one of the most established names in the wholesale precious metals industry, its business model is not ideal for every investor or customer. The company focuses primarily on institutional clients, dealers, and commercial businesses, which can create several limitations for smaller buyers and first-time investors.

1. Not Designed for Retail Investors

Dillon Gage operates almost exclusively as a wholesale precious metals provider.

• Individual consumers generally cannot purchase directly from the company.
• Services are geared toward coin dealers, financial institutions, refiners, and commercial clients.
• Retail investors seeking to buy small quantities of gold or silver may find more suitable options through traditional precious metals dealers.

2. Higher Entry Requirements

Opening an account often requires significantly more documentation than most retail bullion platforms.

• Applicants typically need an established business entity and supporting documentation.
• Additional verification may be required to satisfy industry compliance standards.
• The onboarding process can be more involved than opening an account with a standard online bullion dealer.

3. Limited Pricing Transparency for New Customers

Because Dillon Gage operates on a wholesale model, pricing is not always as transparent as retail bullion websites.

• Standard buy and sell prices are generally not displayed publicly.
• Premiums and spreads can vary based on order size, product availability, and trading volume.
• New clients may need to establish a relationship before gaining access to preferred pricing tiers.

4. Refining Services May Not Suit Small Sellers

While the company’s refining division is highly respected, it is geared toward commercial-scale operations.

• Minimum refining charges can make small submissions uneconomical.
• Independent hobbyists and occasional sellers may find better value through local refiners or coin shops.
• The service is designed primarily for jewelers, manufacturers, pawnshops, and high-volume precious metals businesses.

5. Extensive Compliance Requirements

As a major participant in the precious metals industry, Dillon Gage follows strict regulatory standards.

• Customers must comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
• Business documentation and identity verification are required before approval.
• Account reviews can take several days, which may not appeal to clients seeking immediate market access.

6. Advanced Platforms May Have a Learning Curve

Dillon Gage’s technology is built for professional users rather than beginners.

• FizTrade® offers institutional-level trading tools that may feel complex to inexperienced users.
• New clients may require training or assistance to fully utilize available features.
• API integrations and pricing feeds often require technical expertise to implement effectively.

Dillon Gage Reviews & Ratings

To better understand Dillon Gage’s reputation, it is helpful to examine customer feedback and ratings across major consumer review platforms. Because Dillon Gage primarily operates as a wholesale precious metals provider serving dealers, financial institutions, and commercial clients, it has a relatively limited presence on consumer-focused review websites compared to retail bullion dealers.

At the time of writing, the company maintains an A+ rating with the Better Business Bureau (BBB), although it is not BBB-accredited. The BBB profile contains no customer reviews and a very small number of complaints, which is not unusual for a company whose client base consists largely of businesses rather than individual consumers.

Likewise, Dillon Gage has little to no activity on major review platforms such as Trustpilot, Trustlink, and the Business Consumer Alliance. Yelp contains only a handful of reviews, resulting in a limited sample size that makes it difficult to draw broad conclusions about overall customer satisfaction.

Dillon Gage Ratings Overview

Is Dillon Gage Legit or a Scam?

Frequently Asked Questions

1. What does Dillon Gage Inc. do?

Dillon Gage Inc. is a major international wholesaler of precious metals and a full-service provider to the bullion industry. Founded in 1976, the company operates several divisions that provide wholesale precious metals trading, state-of-the-art refining services (processing gold, silver, platinum, palladium, and rhodium), secure storage through its International Depository Services (IDS) group, and advanced digital B2B tracking and checkout technologies for coin dealers.

2. Can individuals buy directly from Dillon Gage?

Generally, no. Dillon Gage is an international wholesaler. Their primary client base consists of precious metals dealers, banks, brokerage houses, estate attorneys, and institutional investors. However, they do accept applications from qualified private wealth clients who meet their strict trade minimums and institutional compliance standards.

3. Who are Dillon Gage’s competitors?

As a primary wholesaler, Dillon Gage’s most direct competitors are other institutional market makers and authorized purchasers, most notably A-Mark Precious Metals. In specific business branches like refining or depository services, they compete with firms like Asahi Refining or Brink’s Global Services, while in the broader precious metals sphere, companies like JM Bullion or SD Bullion operate downstream as retail-facing entities.

4. What are the order minimums for trading with Dillon Gage?

Because they operate as an international wholesaler, Dillon Gage requires a high financial threshold to transact. For standard physical buy or sell bullion trades, the minimum order value is $10,000.

5. What forms of payment does Dillon Gage accept?

Dillon Gage accepts secure commercial forms of payment, including bank wires, ACH payments, and business or personal checks. Because of strict federal anti-money laundering regulations and compliance frameworks, they do not accept cash, cashier’s checks, money orders, or credit/debit cards.

6. What is FizTrade, and how is it used?

FizTrade is Dillon Gage’s proprietary, state-of-the-art electronic trading platform. It allows registered dealers and institutional clients to execute real-time physical bullion trades online or via a mobile app. The platform provides extended trading hours, running continuously from Sunday at 5:00 PM CT through Friday at 4:00 PM CT. It also provides API integration capabilities so retail dealers can connect Dillon Gage’s live inventory pricing straight to their own websites.

7. What are the requirements and minimums for their refining services?

Dillon Gage operates a high-capacity refining facility utilizing standard fire assays and X-ray fluorescence (XRF) testing. To send a lot in for refining, a business must have an active, approved account. They enforce strict lot minimums based on pure metal content: a minimum of $10,000 in value for gold/silver lots, and $5,000 in value for Platinum Group Metals (PGMs).

8. Is Dillon Gage an authorized purchaser for sovereign mints?

Yes. One of Dillon Gage’s primary competitive advantages in the marketplace is that they are one of the few select firms designated as an Authorized Purchaser by the United States Mint. They also hold direct distribution agreements with major sovereign mints worldwide (including the Royal Canadian Mint and the Perth Mint), allowing them to source large-scale allocations of newly minted bullion coins directly at competitive premiums.

Alternatives to Dillon Gage 

• Silver Gold Bull USA
• Fidelitrade
• Heritage Gold Group
• Jefferson Coin
• Universal Coin and Bullion

Author Profile

Moses

Moses is a precious metals specialist, researcher, and publisher who specializes in reviewing precious metals investment companies. He has spent years analyzing Gold IRA providers, comparing transparency, customer reviews, and fee structures to help investors make informed decisions.

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