FAQ

Why Gold Service?

Gold Service positions itself as the leader in the precious metal trading area. Five good reasons to choose us:

Qualified staff

Our employees are trained to provide effective and accurate support and consulting services.

Local service

We provide a human-size local service with over 24 offices in Switzerland and France.

Security

Security is the key word in all our transactions. We guarantee reliability and discretion in our offices and at our online shop.

Attractive prices

Our prices are adjusted in real time on the basis of the spot price to allow necessary responsiveness to market move.

Trust

Our know-how is the result of over 125 years of experience. We have traded precious metals through our jeweller business since 1895, and more than 625,000 customers have already trusted us.

Purchasing

Is it possible to buy precious metals on Gold Service’s website?

Of course, it is. All our products are available on our online sales platform. If you can’t find the product you want, you may contact us by email or phone. We will make our best to find the product desired.

Are ingots produced by Gold Service?

Gold Service is an exclusive distributor of the major refineries in Switzerland. We do not produce the ingots that we trade. We work with the major players of the industry, and we commit ourselves to offering ingots which are certified to LBMA standards (London Bullion Market Association) to ensure the best quality. We have different varieties of ingots, ranging from 1g to 1kg. Each ingot has a 999.9‰ fineness, from Switzerland and Swiss quality. All our ingots come with a certificate of authenticity.

Is gold a safe investment?

Gold is a safe investment and has been traded for more than 2,500 years. It offers numerous advantages.

The yellow metal is used as an all-risk insurance in times of major financial crisis. It is a safe investment and its level of stability reassures investors.

Gold is a protection against currency devaluation. ‘Quantitative Easing’ government policies inject huge amounts of money into the global economy, which causes currency devaluation.

Gold is a resistant and solid material. You can invest either in ingots or coins.

Gold is a material that can be traded anywhere in the world.

Gold is a ‘liquid’ asset. It can therefore be passed on from generation to generation, sold rapidly, and easily shipped or stored.

Is gold a seasonal metal?

It is difficult to determine an absolute rule gold trading; however, demand may be seasonal depending on the jewellery industry. But this is a global industry and local characteristics must be taken into account. Usually, the strongest demand stimulation for gold occurs on the second half of the year, which has an upward effect on prices.

Can I sell gold abroad?

Yes, you can, since the advantage of gold is that it is considered an exchange currency. It can be sold in a bank or to any precious metal merchant anywhere in the world.

Can I pay in Euros or US Dollars?

Yes, you can. Gold Service accepts Euros and US Dollars. We will apply our bank’s current exchange rate.

Is gold subject to VAT?

Gold offers an attractive tax regime and is not subject to any VAT.

Which documents do I need for a transaction with Gold Service?

We have an international network. So, if you visit one of our offices in France or Switzerland, we will not request the same documents. Please find below some general rules:

France: a currently valid official identity document will be necessary to state your name on the invoice.

Switzerland: no document is required for any transaction under CHF 15,000. However, for all amounts over CHF 15,000, our business is subject to the supervision of FINMA (Swiss Financial Market Supervisory Authority) and we will request information about the beneficial owner and the source of funds used for your purchase.

Is silver a good investment?

Like gold, silver is a store of value, a hedge against inflation and a protection against the economic and financial system. The differences between these two precious metals are found in their uses. Indeed, silver is used in large quantities in the industrial areas, so demand is high.

Its price has dropped over the last years, so experts advise to invest at present. An increase in its value is expected in the coming years  as a result of the growing industrial market.

Selling

How can I have my gold valued?

Our valuation is based on the precious metal spot price (London Fixing). The spot price is updated every 30 seconds. Therefore, you can be certain to benefit from a spot price adapted to the market move. Our prices are fixed based on the spot price, the weight, the fineness of your gold assets and any potential premium for certain coins.

The tests and valuation of your assets are completely free of charge and carried out according to efficient techniques that are recognised worldwide. Your items are weighed using scales weighing at the nearest 1/100 grams, certified and regularly checked by a federal agency and/or the State.

Is there a withdrawal period?

Legislation varies depending the country in which you sell your assets. In Switzerland, once the customer has signed the certificate of purchase, Gold Services becomes the owner of the assets and the seller may not recover these items any longer. Gold Service will enter into a dialogue if a complaint has been filed against the seller and the assets have not been molten yet.

In France, the law establishes a 48-hour withdrawal period. Gold Service will provide you with a certificate of purchase plus a document stipulating your right of withdrawal. This withdrawal period is not valid when selling coins or investment ingots.

Is a PostPack free and without obligation?

Yes, PostPack kits are sent free of charge.

Are there any shipping costs for my Postpack?

No, there aren’t. Everything is included in the shipping kit.

Can I get paid in cash?

Legislation varies depending the place in which you complete the transaction:

Switzerland: the Swiss law authorizes cash payment. Therefore, Gold Service can pay in cash up to an amount of CHF 100,000. Above this amount, Gold Service will pay by bank transfer. You still have to comply with legal reports requested by your local tax office.

France: the French law states that any payment for jewels and/or precious metals must be made by check, letter check, or bank transfer.

Can I get paid in Euros or US Dollars?

Yes, you can. Gold Service can pay in Euros or US Dollars when the transactions are completed in an office in Switzerland. We will apply our bank’s current exchange rate.

For any transaction in one of our Gold Service offices in France, payment can only be made in Euros.

What is the value of my assets?

The valuation of my assets depends on the precious metal (gold, silver etc.) and the alloy. The alloy varies according to the fineness of the assets.

Therefore, a gold ingot will consist of 999.9‰ of precious metal while a 18-carat gold jewel will consist 750‰ of metal and 250‰ of alloy and so on for any finenesses.

Your assets will be valued using the following formula:

‘Daily spot price X item weight  X fineness’

What gold colour is accepted?

We accept any color as long as your assets are precious metals.

Trading

What are the opening hours to place my purchase or sale orders?

Orders are possible from Monday to Friday, from 9:00 to 17:00.

Do I get a certificate for each order placed?

Yes, you do. Every transaction, either purchase or sale, is confirmed sending a certificate that certifies your ownership and summarises your positions with Gold Service.

How can I transfer money to purchase precious metals?

You can do it in the simplest way: once your account with Gold Service has been open, we will send you our bank details so that you may make the transfer. You may also make a cash deposit in one of our offices (in Switzerland only).

What are the advantages of trading?

Fast trading with a company based in Switzerland, which offers security

A consultant available to help you

A guaranteed investment in physical precious metal

Lower fees

No shipping fees

Outside the banking system

For more information or to get a personal appointment, contact us!

Can I recover ingots by selling my positions?

If you do not wish to be paid by bank transfer once your positions have been sold, you may request the delivery of ingots of your choice. You will have to pay for the manufacturing of the items  and the shipping according to our general terms and conditions.

Storage

Can I store gold, silver or any other precious metal with Gold Service?

Gold Service offers a storage solution. Your valuables will be safely stored in compliance with the highest Swiss standards to guarantee complete security and insurance for your assets.

How are my precious metals stored?

Based on our experience and the feedback of numerous customers, we have developed a storage service that meets your needs. Gold Service offers the option to store your valuables.

Storage in vaults

Fully insured valuables

Accessible on request

Outside the banking system (risk of bank failure)

Allocated storage

For a minimum cumulated purchase of CHF 5,000.- ( or EUR or USD).

What would happen to my valuables should the company go bankrupt?

Gold Service provides allocated storage. Therefore, the ownership of your assets is clearly identified and is not reported in Gold Service’s financial statement. This provides full protection should the company go bankrupt. You will hold a certificate of ownership with a complete description of your assets stored with Gold Service.

Can I add assets which have not been purchased from Gold Service?

Yes, you can, once they have been authenticated. Any proof of prior purchase will help to complete the authentication.

When can I come and check my assets?

A 4-day notice is requested when the owner wants to come and check his/her assets. You can make a request as many times as you like.

How will I be charged for the storage of my assets?

You will be invoiced every six months, and payment is due in advance. No prorating can be applied. The price for six months is based on the value of the assets stored. It amounts to 0.45% (Swiss VAT included) for gold assets (Au), platinum assets (Pt), and palladium assets (Pd). It amounts to 0.65% (Swiss VAT included) for silver assets (Ag).

How long does it take if I want to recover all my assets?

It will depend on the time necessary to prepare all the documents plus a 4-day notice. No extra fees will be charged. Therefore, you may terminate the storage contract at any time.

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