How to Buy Precious Metals
Buying precious metals is easy. When you have decided to make a purchase, just follow these simple steps.
- Call AmeriGold at (800) 574-0047 or 720 870-8021 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 and an email confirmation of your order.
- Send in your payment to AmeriGold within 48 hours by one of the following methods:
- Overnight a personal check
- 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.
What is the spot price?
Precious metals are traded continuously throughout the world based on the intra-day spot price, which is derived from over-the-counter precious metal-trading markets around the world.The spot price is used as the basis for pricing precious metals, precious metals products and derivatives worldwide.
When ordering from AmeriGold, the price we quote you is based on the spot price, plus the transaction costs which include fabricator cost to produce the coin or bar, delivery charges, and a small commission to AmeriGold.
Typically, under normal market circumstances, bars cost around 3.5% over the spot price while coins cost upwards to 6% over the spot price in general terms. These figures can change during volatile market events as we witnessed during the 2008 financial meltdown.
What is the bid-ask spread when I look at the live price chart for gold or silver?
The bid-ask spread is more-or-less the difference in price between the highest price that a buyer would willingly pay for an asset, such as gold, silver, platinum and palladium, and the lowest price for which a seller would willingly sell an asset at any particular moment during the trading day in the market.
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 you have a trade number and are locked in you are guaranteed to get your metals no matter what happens in the market. If gold goes up in price after you lock in, rest assured AmeriGold will not call you back and ask to renegotiate. In sixteen years of doing business, our company has never defaulted on delivering to a trade number given to a customer.
Conversely, if gold goes down after you lock 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 $1,500.00 per bar, the total order would be $15,000. If you decided to cancel the order after locking it in and the buy-back price the day of your cancellation was $1,480 instead of the $1,500 when you locked in, you would be responsible for the market loss of $200.00 ($20.00 x 10 bars).Please always make sure you are going to follow through with payment before you lock in an order.
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 via email.
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, or FedEx. 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.
In sixteen years of shipping precious metals packages to thousands of clients, AmeriGold has only had one instance where the insurance was utilized.
Can AmeriGold store my gold, silver, platinum or palladium for me?
Yes, we do offer depository services for our clients. We have multiple options both in and outside the United States. Please call us to learn more about these options.
Is there any sales tax on my purchase?
Some states have a sales tax on precious metals. Colorado, where our headquarter office resides, does not charge state sales tax.
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, (i.e. a suitcase full of cash, or cash instruments such as multiple cashier's 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 checks or bank wires 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 check or bank wire.
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?
AmeriGold is currently set up to ship to locations anywhere in the United States or Canada. For anyone wishing to send precious metals to other locations around the world, please contact our office for potential options.