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Callahan Assets is a precious metals dealer focused on one thing: getting buyers more metal for their money.
Based in the United States and operating through its online store at shop.callahanassets.com, the company sells gold, silver, platinum, and palladium bullion products, and also facilitates precious metals IRAs through approved custodians and depositories.
In a market where many dealers layer on hidden fees, upsell numismatic coins, and obscure the actual cost per ounce, Callahan Assets takes a stripped-down approach.
The question worth asking is whether that simplicity holds up in practice, especially as the precious metals market in 2025 and 2026 has become one of the most active in decades.
Key Takeaways
- Callahan Assets sells only bullion (bars and government-minted coins), avoiding the inflated premiums of proof and numismatic coins.
- IRA storage is handled through Delaware Depository, which carries $1 billion in all-risk insurance coverage from Lloyds of London underwriters.
- Gold hit over 50 all-time highs in 2025 and finished the year up roughly 65%, making the choice of dealer and product type more consequential than ever.
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Who Is Callahan Assets?
Callahan Assets positions itself as a bullion-only dealer, which is a meaningful distinction.
The company sells physical gold, silver, platinum, and palladium in standardized forms: bars, rounds, and government-issued coins like the American Gold Eagle, the Gold Buffalo, and the Silver Eagle.
They work with Horizon Trust as their IRA custodian and Delaware Depository for physical storage, both of which have established reputations in the precious metals IRA space.
The company's stated mission is direct: 'We have one goal. To get you the most metal for the best price.' That framing shapes everything about how the business operates, from the products it carries to what it deliberately leaves off the shelf.
What Callahan Assets Sells
The product catalog covers four metal categories. Here is a breakdown of what is available across each:
Gold Products
| Product | Sample Price (at time of review) |
|---|---|
| 1/10 oz Gold Eagle – BU | $332.95 |
| 1/4 oz Gold Eagle – BU | $1,173.12 |
| 2024 1 oz Gold Buffalo – BU | $3,062.04 |
| 1 oz Gold Eagle – BU | $4,642.50 |
| 1 oz Gold Bar – Perth Mint (Carded) | $4,575.24 |
| 1 oz Gold Bar – Valcambi (Carded) | $4,575.24 |
Silver Products
| Product | Sample Price (at time of review) |
|---|---|
| 1 oz Silver Round – Buffalo Design (Asahi Refining) | $33.13 |
| Silver American Eagle – BU | $79.04 |
| 10 oz Silver Bar – Frontier Mint (Frosted) | $761.53 |
| 100 oz Silver Bar – Britannia | $7,652.02 |
Platinum and Palladium
| Product | Sample Price (at time of review) |
|---|---|
| 1/10 oz Platinum Eagle – BU | $301.12 |
| 1 oz Platinum Bar – PAMP Fortuna (Carded) | $2,614.45 |
Prices update with live spot rates, so what you see on any given day reflects current market conditions.
That real-time pricing is a basic feature for reputable dealers, and Callahan Assets includes it on the store homepage.
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The Bullion-Only Policy: Why It Matters
Callahan Assets does not sell proof coins or numismatic coins, and their explanation for why is worth reading closely. Any mint can produce a coin and charge whatever premium it wants, regardless of the coin's actual metal content.
A proof coin carrying a $300 premium over spot might hold $50 worth of additional metal, or none at all. The collector market for those coins is real but illiquid, unpredictable, and largely irrelevant to someone who wants exposure to precious metals prices.
Bullion is different. A 1 oz Gold Eagle trades within a narrow premium band over the gold spot price, typically $50 to $150 depending on market conditions and the dealer.
That premium covers manufacturing and distribution. When spot moves, the value of the coin moves with it, directly and proportionally. There is no guesswork about whether the collector market will cooperate.
For IRA holders, the practical stakes are higher. The IRS only permits specific IRS-approved bullion inside a precious metals IRA. American Gold Eagles, Gold Buffalos, and American Silver Eagles qualify.
Most numismatic and proof coins do not, and holding non-approved metals in an IRA can trigger taxes and penalties. Callahan Assets' catalog, by limiting itself to eligible bullion, removes that compliance risk entirely.
IRA Setup and Storage
For buyers who want to hold precious metals inside a retirement account, Callahan Assets facilitates the process through two partners:
- Custodian: Horizon Trust, which Callahan Assets describes as having the best customer service in the industry. Horizon Trust is an IRS-approved custodian that holds the retirement account on the buyer's behalf.
- Depository: Delaware Depository, a limited-purpose trust company founded in 1999 with facilities in Delaware and Nevada. It serves banks, trust companies, and institutional precious metals holders as its core customer base.
Delaware Depository carries $1 billion in all-risk insurance through Lloyds of London underwriters and undergoes SOC-1 audits conducted by a PCAOB-registered independent auditing firm.
Customer metals are fully allocated, independently audited, and held off the depository's own balance sheet. Those are substantive security provisions, not marketing language.
One feature that is genuinely unusual: buyers can schedule in-person visits to view their physical holdings at the Delaware Depository in Wilmington, DE.
The visit requires coordination through the custodian and advance scheduling, but the option exists. For buyers who want to physically verify their metals are there, that matters.
Callahan Assets also offers home delivery for buyers who prefer direct possession rather than IRA storage.
The Precious Metals Market Right Now
The context in which someone buys from any dealer matters, and the current market context is unusual by any measure.
Gold in 2025: Gold finished 2025 up roughly 66% from the prior year-end, settling around $4,325 per ounce after beginning the year at $2,606. The metal set over 50 new all-time highs within a single calendar year.
Looking ahead, J.P. Morgan is forecasting gold to average $5,055 per ounce by the final quarter of 2026, driven by continued diversification of official reserves and investor demand.
Silver in 2025: Silver surged 150.1% over 2025, closing at record highs. Approximately 58% of global silver demand now comes from industrial applications, including the solar energy sector and electric vehicles.
Silver futures have pushed above $85 at the start of 2026, driven by export restrictions from China and rising green technology demand.
Central bank demand: Total central bank gold buying reached 863 tonnes in 2025, with the National Bank of Poland the largest single buyer, adding 102 tonnes for the second consecutive year.
Around 755 tonnes of central bank purchases are expected in 2026, still elevated compared to pre-2022 averages of 400 to 500 tonnes annually.
What that backdrop means for a buyer: the products Callahan Assets sells, government-minted coins and bars from recognized refiners, are precisely the instruments that benefit most cleanly from spot price appreciation.
There is no premium decay from collector sentiment, no liquidity risk from an illiquid coin market, just metal priced against spot.
What to Expect When Buying
The purchasing process on shop.callahanassets.com is straightforward. Products are organized by metal category, prices are listed individually, and live spot prices are displayed on the homepage.
For IRA purchases, the process involves setting up an account with Horizon Trust, initiating a rollover or contribution, and selecting products for delivery to Delaware Depository.
For buyers doing a rollover from an existing IRA or 401(k) from a prior employer, the transfer can be structured as tax-free and penalty-free. Buyers over 59½ may also rollover without penalty under standard IRS rules.
A few things worth knowing before buying:
Who This Dealer Suits
Callahan Assets is a good fit for buyers who want straightforward exposure to precious metals prices without the complexity of numismatic collecting.
The bullion-only policy, transparent pricing structure, and use of well-established storage and custodial partners make it a workable option for both first-time buyers and people adding to existing holdings.
The IRA pathway is clearly where much of the company's focus sits. The FAQ content on the site is almost entirely oriented toward IRA eligibility, custodian relationships, storage logistics, and the compliance case against proof coins.
Buyers primarily interested in physical delivery for home storage can still use the store, but the infrastructure and educational content skew toward the retirement account use case.
For high-volume buyers or those wanting the widest possible product selection, a larger dealer with a deeper catalog might be a better match. Callahan Assets keeps its lineup tight by design, which streamlines the decision but limits options.
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Pricing Transparency
One of the more meaningful ways to evaluate any bullion dealer is premium over spot: the amount above live metal prices that you pay per unit. Callahan Assets displays live spot prices on the homepage, and product prices update accordingly.
Based on the listed prices at time of review, premiums on standard bullion products fall within ranges that are consistent with what established dealers charge.
A 1 oz Silver Eagle carrying a premium over spot, for example, reflects current market conditions for that specific coin, which has seen elevated demand relative to generic silver rounds.
The company does not publish explicit premium percentages, but the math is simple: compare the listed product price to the live spot price on the homepage, and the premium is the difference.
For bullion buyers, that comparison is feasible in a way it is not with numismatic products, where the premium is buried in subjective collector valuations.
Conclusion
Callahan Assets operates with a clear and enforceable standard: sell only bullion, price it transparently against spot, and store it through vetted custodial partners.
For buyers who want physical precious metals without the noise of the numismatic market, that combination holds up well in the current environment.