Assay – A test to determine the metallic content of a bar.
Ask – The ask price is the price at which Monetary Gold sells X to its clients for.
Bid- The bid price is the price that Monetary Gold buys X for from its clients.
Face Value – The value of a legal tender coin as stamped on the unit. A 1-oz. Gold American Eagle has a face value of $50.
Gold Standard – The term to designate the monetary standard of a country when all the paper money it issues is backed by a gold reserve.
Legal Tender – Coin or currency identified by a government to be acceptable in the discharge of debts.
Liquid Market – A market where selling and buying can be accomplished with ease.
Premium – The price of a coin over the value of its actual gold content over intrinsic value.
Intrinsic Value- is the melt down value, which is the Spot price.
Spot Price –The spot price is the price required for immediate settlement. The current amount of what gold is trading for.
Lock in price- is when your broker secures/freezes the price of your order at the time of your confirmation. We do this because the market fluctuates daily and funds might take days to arrive in-house, ask account executive for details.
Institutional Buy- is when several large orders are placed into one so that you receive a lower purchasing price than if you would make a individual purchase, commonly known as Block Orders and Bulk Trade.
Diversification: Monetary Gold believes precious metals should be 18 % to 25 % of an individual’s investment portfolio. If you choose to invest more than this amount we encourages you to consult with your investment advisor before making your decision. All investment metals can increase and decrease in value. Investing in physical gold and silver may not be suitable for every investor. We advise all clients to consult with their licensed professional advisors before making any purchasing or selling decisions.
Holding period: Full Numismatic/ Certified Collector rare coins, semi- numismatic rare coins and bullion should be considered a long-term investment. We believe that precious metals and currency should be held for at least 3-5 years, preferably 5-10 years to maximize your potential for gains. Customer is aware that Monetary Gold makes no guarantee or representation that Customer will make a profit at the expiration of such period of time. Customer acknowledges and agrees that Monetary Gold does not provide investment advice.
Risk: Customer assumes the risk of all investment decisions regarding all purchased items. Monetary Gold makes no guarantee or representation regarding Customer’s ability to profit from any purchase or any representation regarding any tax implications of any purchase. In no event shall Monetary Gold or its employees or agents be held liable for any direct or indirect damages arising from Customer’s purchase. In addition, Monetary Gold disclaims any express or implied warranties, including the warranty of merchantability, and any warranty as to the grade or description of any item. Customer alone decides what items to buy and when to buy or sell. Monetary Gold does not guarantee the profitability of any purchase nor does Monetary Gold guarantee that Customer will be able to sell any item purchased for a profit in the future. Although physical precious metals of all types can yield substantial returns, they can also yield an overall loss. Natural disaster, economic, world, political and financial turmoil do not forecast profit or profitability. Past performance is not necessarily indicative of future results. As you can understand, the above is a mandatory disclosure that must be included in a risk disclosure.
Private Storage of Precious Metals: The private storage of precious metals, commonly known as storing your precious metals either privately at your home or at a bank in a safe-deposit box, is a legal grey area, meaning the IRS has not approved nor disapproved of these private storage options, therefore making it into a grey area. At any time, the IRS can approve or disapprove of private storage options. As congress changes laws, the private storage of precious metals can be regulated at any time. In the meantime, the client is required to take precaution and necessary steps to avoid penalties. Although the client has the option to go through many different custodians, Monetary Gold does not give recommendations for selecting custodians, and is strictly a precious metals dealer. Private storage of precious metals is something we do not recommend. Contact your tax and/or legal attorney for more information, as Monetary Gold cannot be held accountable or liable for any decision an individual or client chooses to make regarding storing precious metals privately in a home or whether in a private storage facility. We do not recommend nor advertise private storage of precious metals.
Breaking Even: Much like any other investment, breaking even is achieved when liquidating/cashing out above total cost point. By overcoming the bid and ask entry and exit price, along with the commission negotiated by you and your acting account executive/agent, will mean a break even situation or even some profit. The commission charged on average is 6 percent above the total purchase price of metal(s) that your account executive/agent acquires from or through Monetary Gold, a wholesale supplier or exchange network.
Example: Client purchases “x” amount of coins that equals $10,000, the account executive/agent may execute the transaction at a commission rate of 6%; your online account/trade confirmation will detail an $600 commission. The account executive/agent may lower commission at his or her sole discretion. An order over $200,000 can take advantage of lower commission structure. Ask your account executive/agent for details.
Shipping: All packages are fully insured and delivered within the U.S through Fed Ex, UPS or USPS. Arrival of package takes no longer than 15 business days after funds have been cleared.
Storage: Monetary Gold has the option to help you store your holdings in Delaware Depository, which is fully insured by Lloyds of London. Annual Minimum fee is $100 for a $100,000 worth of gold and silver. Clients may also choose to open their own segregated account with the depository facility fees may vary. Ask your agent or for details.
Monetary Gold Pricing: Monetary Gold has a unique network all of which may be foreign or domestic. Monetary Gold imports European coins through overseas metals exchange, U.S wholesale suppliers, and institutional bullion banks. Like any other Precious Metals Firm, Monetary Gold generates revenue from product sales. An account executive/agent executes transactions with Monetary Gold. All above listed may bear a bid and ask spread of an industry average 3 to 15 percent on bullion, bid and ask spread of an industry average 6 to 30 percent on semi-numismatic, and bear a bid and ask spread of an industry average 15 to 35 percent on Certified Graded Numismatic coins/collector coins “rare coins”. Monetary Gold and the broker in foreign or domestic currency implements and carries over the corresponding pricing or quote. The buy and sell bid and ask quote may fluctuate and are determined by couple factors such as: items, rarity, futures price, supply, demand, quality, open interest and spot price fluctuation. The rarer the coin, the thinner trading market, making the bid and ask price quote larger and wider. This is why full numismatic certified graded coins are not recommended for investors looking to capitalize in the direct move of the spot market. Although we cannot make any warranties or guarantees that one asset will guarantee a larger profit or any profit upon liquidation, it is Monetary Gold’s general opinion to avoid investing in certified graded coins.
Website settlement price: Are provided when calling in due to slim margin. Call for live pricing. Operating hours are Monday to Friday, 8:00 am to 4:30 pm PST.
Transactions: An order cannot be executed without a clients written or oral confirmation approval. Client must authorize transaction to get a secured price point. NOTE: Secured price points are only valid for 3 days.
Selling non-Monetary Gold products: Although it is not recommend, it is important to note that most companies in the business of purchasing “Gold for Cash ” will purchase gold, in forms of coins, bars, ingots, scrap gold or silver for their melt value or below melt value, resulting in an overall loss. We recommend you contact a Monetary Gold account executive before selling your metals to other dealers. Our account executives earn a commission on the liquidation price of your metals and this gives your account executive a vested interest in liquidating your metals at the highest possible price. The more you make, the more the account executive makes.
IRA Accounts: Monetary Gold has made every effort to comply with current
federal laws in connection with Coins that are placed in an IRA. However, Monetary Gold expressly disclaims any responsibility or obligation for any tax impact to Customer as a result of future Internal Revenue Code regulations or interpretations of current law. Customer expressly acknowledges and agrees that Customer has been advised to seek independent tax advice and that Monetary Gold has made no representations regarding the tax impact of Coins held as an investment in an IRA. All active, dormant and future accounts held by Monetary Gold or any of our affiliate custodian (SDIra services) shall at all times remain nondiscretionary. This means that no employee or agent directly affiliated with Monetary Gold shall have a legal basis to conduct transactions relating to your IRA account without your written or oral approval. You must authorize all transactions before an account executive or can execute any order on your behalf.
No Refunds Except as to Counterfeit Coin(s). Monetary Gold shall not be obliged to accept returns of any coin(s) for refund other than counterfeit coins returned in their original holders within ninety (90) days of purchase. In the case of counterfeit coins, Monetary Gold’s liability to Customer shall be limited to refund of the purchase price or replacement of the coin(s) in question. Monetary Gold expressly disclaims any further liability to Customer, including any liability for lost profits or consequential damages as a result of counterfeit coins. In no event will Monetary Gold be liable for a replacement or refund of the purchase price for any coin purchased by Customer if more than ninety (90) days has elapsed since the date of receipt regardless of when Customer became aware of the claim.
The Difference: Unlike most precious metal firms, Monetary Gold compensates all account executives/agents with the same commission regardless of what they sell (bullion,Semi-Numismatic), this eliminates any conflict of interest. This policy truly makes your agent having no vested interest in recommending one product over the other. Moreover, if you decide to sell the metals back that you bought from us, no fees or charges are associated with the buy back transaction,
Monetary Gold is proud of our fair business practice and impeccable reputation. We always stride to offer the best possible buying and selling service in the industry. It is imperative to remember that what you buy is just as important as who you buy from. Monetary Gold has become a leading national precious metals dealer by providing financial advisors, brokers, dealers, and their perspective client’s access to investment grade gold and silver products. Your agent can answer your questions and assist you through the process.