FAQs
General Questions About Gold Products
What purity are your gold bars and grains?
Our gold bars and grains are of investment-grade quality, 999.5 fine gold, meaning they contain at least a purity of 999.5 parts per 1,000 of pure gold. This is equivalent to 24-karat gold, ensuring top quality and suitability for investment purposes.
What sizes or weights of gold bars and grains are available?
My Gold Grams offers gold bars in the following sizes: 1g, 5g, 10g, and 100g. For added flexibility, 1g bars can also be purchased in multiple units through our multigram products. Additionally, we provide gold grains of 999.9 purity, with each grain containing approximately 0.0648g of gold, catering to customers who prefer smaller, precise quantities.
Can you explain the difference between investment-grade gold and collectible gold?
The distinction between investment-grade gold and collectible gold lies in their primary purpose, composition, and value drivers.
Definitions -
Investment-grade gold - refers to gold products (bars, grains, or coins) that are primarily purchased for their intrinsic metal value rather than any additional artistic, historical, or rarity factors.
Collectible gold - refers to gold items that derive value not just from the gold content but also from factors like historical significance, rarity, craftsmanship, or condition.
Key Differences -
Definitions -
Investment-grade gold - refers to gold products (bars, grains, or coins) that are primarily purchased for their intrinsic metal value rather than any additional artistic, historical, or rarity factors.
Collectible gold - refers to gold items that derive value not just from the gold content but also from factors like historical significance, rarity, craftsmanship, or condition.
Key Differences -
| Aspect | Investment-Grade Gold | Collectible Gold |
|---|---|---|
| Primary Value | Based on gold purity and weight. | Based on rarity, history, or design. |
| Purity | Typically 99.5% or higher. | Can vary, often lower than bullion. |
| Market | Highly liquid, globally recognized. | Niche market with specialized buyers. |
| Premium | Minimal, tied to spot price. | Higher, influenced by collectibility. |
Do you provide a certificate of authenticity or an assay card with each purchase?
Yes, most of our gold products come assayed and certified, accompanied by the refiner's assay card and/or certificate of authenticity. However, it is not guaranteed that 1g gold bars purchased individually and gold grain products will come assayed and certified. Please see each individual product's page for specific information relating to assay and certification.
Pricing and Spot Market Information
How are your prices determined?
Our prices are based on the live gold spot market price and include a small premium for refining, minting, and distribution costs.
Are your prices updated regularly to reflect market changes?
Yes, prices are updated to reflect fluctuations in the gold spot market.
Do you charge a premium over the spot price?
Yes, a premium is added to cover costs associated with production and certification. The premium varies depending on the product.
Can I lock in a price today for a future purchase?
Yes, we offer a price lock-in feature that allows you to secure the current market price for a specific period.
Buying and Selling Gold
Do you offer a buy-back program?
Yes, we offer a buy-back program where we purchase gold products at competitive rates based on the current spot price.
Can I sell gold to you that I didn’t purchase from your business?
Yes, we evaluate and purchase gold from other sources as long as it meets our standards.
What is the process for selling my gold back to you?
You can bring or ship your gold to us for evaluation. Once assessed, we offer a buy-back price based on the current market value.
Delivery and Storage
Do you provide insured shipping for gold purchases?
Yes, all shipments are fully insured for the value of the gold to ensure secure delivery.
How is the gold packaged for delivery?
Gold bars and grains are securely packaged to prevent tampering, and larger bars include additional protective measures.
Do you offer storage solutions for purchased gold?
Yes, we provide secure storage options at additional costs for customers who prefer not to store gold at home.
Investment Guidance
What is the difference between gold bars and gold grains for investment?
Gold bars are ideal for larger investments and easier storage, while gold grains offer flexibility for smaller purchases or precise amounts.
What is the minimum investment you recommend for first-time buyers?
It depends on your goals, but starting with a 10g or 100g gold bar is a good option for serious investment. Smaller purchases like 1g bars or grains can also be suitable for beginners.
How does investing in physical gold compare to other gold investment options, like ETFs?
Physical gold provides a tangible asset that isn’t tied to financial markets, while ETFs are easier to trade but don’t offer ownership of physical gold.
Tax and Regulatory Compliance
Are your gold products subject to taxes, such as VAT?
Investment-grade gold is typically exempt from VAT in many regions, but specific rules vary by location.
Do you report gold purchases or sales to tax authorities?
We comply with all legal requirements regarding reporting but do not share customer information unless mandated by law.
What are the tax implications of buying, holding, and selling gold?
Taxes on gold investments depend on your jurisdiction. Capital gains taxes may apply when you sell.
Customer Support and Policies
What is your return policy?
Returns are accepted under specific conditions if the product remains unopened and in its original packaging. Custom purchases may not be eligible for returns.
What should I do if I receive a damaged or tampered product?
Contact us immediately for assistance. We will investigate and provide a replacement or refund if the issue is verified.
How can I verify the authenticity of my gold independently?
Our gold products are assayed and certified. Additionally, you can test authenticity through professional services or using a gold testing kit.
Do you provide guidance for new investors?
Yes, we offer consultations and educational resources to help new investors make informed decisions.