Should I buy coins or bars?
Coins generally incur higher premiums and have the potential for future higher returns as they also carry a numismatic value. Additionally premiums reduce dramatically as the Gold Coins or Gold Bars increase in size, therefore it can be far more cost effective to buy single larger Gold Coins or Bars rather than several small ones. The only disadvantage to buying one of the larger Gold Coins or Bars is that the whole coin or bar has to be sold at once. Coins and bars have been in production for many years and are re-sold in many countries, so there will be no problem in selling these coins or bars on at a later date to other dealers or private investors.
Which type of coins should I buy?
It is always important to remember that bullion coins and bars are bought as an investment and for a collectable value. Some coins may be more expensive to buy (often due to scarcity) even though they contain the same amount of gold and therefore the same intrinsic value, care should be taken to ensure that the right coins are bought for the right purpose. The one ounce bullion coins are generally the largest size available, and are therefore the most cost effective and accepted method of investing in gold. There are a wide variety of the more exotic collectable coins which carry a high premium in relation to their raw gold value, and should be bought for their numismatic properties only.
Are buying / selling prices based on the current gold price?
Prices generally up date during business hours and are updated continuously to reflect the fluctuations in the spot gold price throughout the trading day. Generally, a client wishing to carry out a transaction over the phone with a dealer will be given a price based upon the gold price at the time of calling.
Which methods of payments are generally accepted?
As a general rule bank transfers or cash only are accepted by local dealers. Whereas internet orders will accept credit cards with shipment of orders after clearance of the funds.
Am I required to provide identification when purchasing orders?
Small purchases or sales by private individuals below five thousand pounds can be executed without any identification needing to be provided. However, if you are spending more than five thousand pounds in a single transaction or more than ten thousand pounds in the course of a year than we will be required to provide identification.
Will dealers buy back my coins and bars?
As a general rule Gold Dealers will buy back at a reduced cost, even if the items were not originally bought from them.
How do I know that my coins and bars are genuine?
Any genuine and long established dealer will inspect every coin and bar before it is sent out to ensure that it is genuine. Every coin and bar is stamped with the metal quality and the weight, and bars of 100 grams and above are also stamped with serial numbers so that they can be easily identified. Fake items can generally be spotted by a keen eye, as the weight or dimensions of the item will be inconsistent, and there are several assay offices located in the UK where items can be taken and independently tested for purity for a minimal fee.
Can you give me advice about my investment strategy?
We do not provide guidance on your investment strategy, we can only tell you about products for sale and are unable to provide a forecast regarding metal prices.