How to buy
Purchasing Precious Metals
Due to changes in anti-money laundering regulations we cannot give out our bank details or accept orders from clients who have not been identified and verified. Once we have received and approved your certified passport copy, a utility bill and confirmation of the source of funds then you will be confirmed as a client. Further information may be required for certain clients depending on their background and geographical location. For investors using Trust or corporate structures much greater levels of due diligence will be requested.
One you have been accepted as a client we will give you the bank account details of the Client Accounts in £, $ and €. We can then accept funds from you. The web-site provides live prices but we will only be able to buy at the next available 'price fix' in London which occurs twice a day for physical bullion. Depending upon the volume of orders with the refiner, it may take between 24-48 hours to receive a price confirmation. These funds are then sent to the supplier and delivery will normally take place within two weeks as the bullion is sent from Switzerland.
Ideally we will try to match purchases and sales between customers to lower the costs but this is not always possible, especially when the gold priceis rising and clients wish to retain their holdings. If you decide to sell bullion that we hold on your behalf in storage then proceeds can only be paid to the source bank account that funded the original purchase. Payments will not be made to third parties. Please note that customer monies are held in separate customer accounts that are distinct from Guernsey Gold's business account.
Receipt and despatch of Gold
You will be sent a signed receipt by e-mail with a hard copy in the post. This is the initial receipt. Only when we receive bullion will we issue a final receipt that includes the bar numbers and photographic evidence. If you elect to take delivery we will send the bullion by registered post which will require your signature. Please note that insurance for registered post is capped at £2,500 so we recommend that you store gold in Guernsey for later re-sale. We can only send items to a residential address which matches that provided in the due diligence process. The gold will be accompanied by two release letters signed by Guernsey Gold, both of which require your counter-signature. We will ask you to keep one copy for your records and return the other as a security measure to confirm that you have received the bullion. The refiner’s certificate will be posted under separate cover. We cannot send to a block of flats or buildings with multiple unrelated residents as the risk of fraud or theft is greatly increased. In special circumstances – subject to an additional fee – we may personally deliver bullion to a limited number of British airports. We would be happy to buy back any bullion from you which was supplied by Guernsey Gold. We aim to offer customers a minimum of the spot price less 2½% or better if the level of demand is high.
Picking your Gold up in Person
Customers are welcome to come to Guernsey to pick up their bullion. You will be asked to sign two release forms; a copy for you and a copy for Guernsey Gold. The form can only be signed by the person whose passport was provided at the due diligence phase. Bullion will not be released to third parties. At this point you will also be given the original certificate from the refiner whose number will match that on the bar. Please give us at least two business days notice before coming to collect your bullion as withdrawal from storage requires two authorised signatories of Guernsey Gold before release to the customer. Precious metals are not stored or handled at the registered address of the Company.
International Border Control for Gold leaving Guernsey
Please note that any cash or bullion crossing Guernsey’s borders whose value exceeds €10,000 must be declared to Customs officials. The form is on carbon paper with the cover handed to Guernsey Customs, the second copy for entering other jurisdictions and the third copy for the bullion carrier.
If you decide to store your gold then we will send a receipt, photograph and date evidence showing the bar, matching certificate and logo of Guernsey Gold. Storage is subsidised for the first year and is then chargeable at the going rates charged by Network Securities.