GoldMoney - Transparent Rates and Pricing
At GoldMoney we want our customers to always know exactly what they are paying in a transparent and consistent way when they buy precious metals from us. Transparent and consistent pricing is one of several reasons why GoldMoney is the choice of high net worth individuals around the world.
Transparent pricing based on market prices
Most precious metals dealers quote two prices: a bid price and an ask price. The “bid” is the lower of the two and is the price the dealer will buy metal back from you. The “ask” (sometimes called the “offer”) is the price the dealer will sell metal to you. The difference between these two prices is the bid/ask “spread”. The spread is the critical part of the purchase price and must be looked at closely because it can vary widely between dealers, and therefore significantly affect your purchase cost.
Depending on market conditions and/or the dealer's subjective decision to widen the spread it quotes to its customers, the bid/ask spread can sometimes be very large. Thus the ask price for precious metals can be significantly higher than the bid, which ultimately means a higher cost to you when buying from that dealer. And some dealers charge an additional broking commission on top of the spread, further raising the total cost you are paying.
When you buy gold, silver and platinum from GoldMoney, we always quote you a bid price (what we refer to as the “current spot rate” throughout our website) based on the current global gold market for physical metal meeting the standards of the London and Zurich markets, and then apply our fixed purchase rate on top of the bid. Large orders are completed at the London PM Gold, London Silver or London PM Platinum fixing price plus our fixed purchase rate.
Our purchase rate is clearly disclosed before you buy and is a fixed percent, thereby enabling you to avoid the variable and volatile – and therefore unpredictable – bid/ask spread of other dealers.
With GoldMoney you will always know exactly how much you will be paying above the market bid price for your order. And GoldMoney does not charge a commission or hidden fees. GoldMoney gives you clear and consistent pricing when you buy gold, silver and platinum.
No commission or other fees when you sell gold, silver & platinum
When planning to buy metal, you should always take into account the fee you will have to pay when you are ready to sell. As with buying, selling precious metals back to most precious metals dealers involves a volatile spread and possibly commissions, handling or other fees and refinery charges to re-assay the metal as well, with the result that you receive less than the market bid price.
With GoldMoney, you sell your gold, silver and platinum to us at the market bid price, which is the best possible price anyone can receive. And no commissions or fees are charged.
The GoldMoney advantage
Before buying and selling precious metals, be sure to take into account the spread, commission and other fees to determine your total costs. We believe that GoldMoney offers some of the most competitive pricing for physically allocated gold, silver and platinum. It is gold, silver and platinum you own and that we conveniently store for you safely and securely in the insured vault(s) of your choice.
Our customers appreciate and benefit from this valuable aspect of our service: competitive and transparent pricing. It is another GoldMoney advantage.
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