How do I buy precious metals from AmeriGold?
Buying precious metals is easy. When you have decided to make a purchase, just follow these simple steps.
- Call AmeriGold at (800) 574-0047 and ask for our current quote, or selling price on the item (s) you wish to purchase. Quoted prices include registered, insured delivery to your door or place of storage.
- If you like the price, tell our representative to “Lock in” your transaction, and AmeriGold will cover your order in the market. Once you lock in the price, you will receive a trade number.
- Send in your payment to AmeriGold within 48 hours by one of the following methods:
- Overnight a personal check. We do not accept cash, money orders, or cashier checks.
- Wire transfer. Please call for instructions
Do you accept credit cards?
No, we do not take credit cards for payment. Payment must be made using one of the methods presented above.
Do you have a minimum transaction when purchasing?
Yes, our minimum transaction for purchasing precious metals is $5,000.
How long is my price locked in for?
Your price is confirmed for 3 business days. We must receive your payment within this time frame. Once locked in, you are responsible to cover any market losses should you decide to cancel your order. For example: If you locked in a price for 10 gold one-ounce bars at $1,405.00 per bar, the total order would be $14,050.00. If you decided to cancel the order after locking it in and the price the day of your cancellation was $1,400.00 instead of the $1,405 when you locked in, you would be responsible for the market loss of $50.00 ($5.00 x 10).
Do you have quantity discounts?
Yes, discounts are calculated based on total volume. The larger the order the larger the discount.
Do you have a holding period on personal checks?
Yes, we hold all shipments of precious metals until monies from checks have cleared our bank. Direct bank wire does not require this waiting time and is always recommended.
Where do I wire funds?
Upon placing an order and issuing a trade number, we will provide you with our bank name, ABA Routing Number and Account Number.What happens if my payment is not received within the applicable time period of 3 business days?
It is always best to make sure you send us your payment immediately after locking in. This ensures that AmeriGold can honor the confirmed price. If payment is not received within the 3 business days, AmeriGold reserves the right to either refuse your order, or provides a fresh quote based on the market price at the time we do receive payment.
Are there any extra charges on top of the quoted prices I receive from AmeriGold?
No, when AmeriGold gives you a price it is all-inclusive. There are no other fees or hidden charges. Our quoted price includes registered, insured delivery to your door or storage facility in the United States.
How is my order shipped?
AmeriGold orders are shipped via U.S. Mail, UPS, or FedEx depending on the delivery area and the type of metal being shipped. Each package is sent fully insured and requires a signature upon delivery. Packages usually arrive within 5 to 7 business days from date of shipment.
Can you ship my order to a post office box?
Yes, orders shipped via registered, insured US mail can be sent to a P.O. Box.
What happens if my order is lost or stolen while in transit?
AmeriGold fully insures all of its shipments. Should anything happen while your package is in transit it will be covered by insurance. When we ship to you, if metals are lost, damaged, or stolen in transit, it is our responsibility to pursue any claim with the insurance company.
Can AmeriGold store my gold, silver, platinum or palladium for me?
No, at this time we are only offering delivery of precious metals to either your home or selected depository. We do have a list of recommended depositories if you do not want to store your metals in your home.
Is there any sales tax on my purchase?
Some states have a sales tax on precious metals. Colorado, our home state, does not. AmeriGold does not collect any sales tax if your order is shipped outside the State of Colorado. If you live in the State of Colorado your order may have city sales tax if it is shipped within the city boundaries of Denver, Colorado. Please consult your tax advisor for specific taxation advice in your jurisdiction.
Is my purchase of precious metals reported to the IRS?
AmeriGold does not and is not required to report our sales transactions to the IRS.
Are transactions of $10,000 or more reported to the government?
Only if they involve actual currency, ie., a suitcase full of cash, or cash instruments such as multiple cashiers checks which are smaller than $10,000 each but total over $10,000. There is no report, or registration, of any such paperwork on transactions involving single personal checks or bankwires of whatever size. Currency regulations involving amounts of over $10,000 were designed to thwart money launderers and drug dealers. This is a common area of misunderstanding, but the bottom line is that there is no reporting on ordinary transactions of any size, paid with a personal check or bankwire.
It is AmeriGold's policy that we do not accept payment in cash, money orders, or cashier checks.
Note: The IRS has revised its cash reporting form. The new form is similar to the old form except for the addition of the designation as “FinCEN Form 8300”. As part of federal anti-terrorism initiatives, the Financial Crimes Enforcement Network (FinCEN), in addition to the IRS, is notified of cash payments of over $10,000 in a single transaction. The revised form satisfies dealer cash reporting requirements under the recent USA Patriot ACT.
Can AmeriGold ship internationally?
No, currently we only ship to locations in the United States and Canada.
How do I sell my precious metals to AmeriGold?
Selling your items to us is easy. When you have decided to sell, just follow these simple steps.
- Call AmeriGold at (800) 574-0047 and ask for our current quote, or selling price on the item (s) you wish to sell. Quoted prices do not include shipping costs back to AmeriGold. Sellers are required to pay shipping back to us.
- If you like the sell price, tell our representative to “Lock in” your transaction, and AmeriGold will cover your order in the market. Once you lock in the price, you will receive a purchase order number.
- Once you have your P.O. number, we ask that you securely package your metals and send them to our depository within 24 hours via registered, insured delivery. Please include your name, address, phone and P.O. numbers on a piece of paper inside the package.
- When your package is received at our depository it is weighed and matched up to the P.O. number. Once verified, payment can be sent out within 24 hours in one of three ways. You can choose direct bank wire, overnight payment, or standard mail. The choice is yours.
Can I deliver my precious metals to you at your office in Colorado?
Yes, you can drop off your metals at our office during regular business hours Monday through Friday by pre-arranged appointment only. Please call our office to schedule an appointment at (720) 870-8021.
What products do you buy?
We are active market makers in all precious metals bullion coins and bars as well as numismatic items. Call for current buy prices. We do not deal in scrap metals.
What happens if I do not send in the precious metals, or want to cancel an order after a price has been locked in?
Your transaction will be automatically cancelled if we do not receive items within 7 business days. At that time, you may be liable for covering any market losses to AmeriGold if the buy price at that point is higher than the price you were quoted when you locked in. Please make sure you are going to follow through when you decide to sell so this is not an issue.
Do you have a minimum transaction amount when selling back to AmeriGold?
Yes, our minimum amount that we will purchase back from you is $5,000 worth of metals on one purchase order.
Do you accept trade-ins?
Yes, we are always looking for new inventory. There may also be significant tax benefits for you as well. Selling your assets that you may have purchased at higher levels to realize a capital loss and then purchasing a similar product although different enough to avoid the IRS wash sales rule will allow you to keep your position and possible realize a capital loss. Please consult your tax advisor before making any decisions on this issue.
Are there any other charges or hidden fees when selling precious metals to AmeriGold?
No, when you sell your items to us there are no hidden charges. The prices quoted are the prices we will pay.