Q. Are bullion coins legal tender?
A. Yes, if they are government issued bullion coins with a face value.
Q. Will you buy back my bullion if the market price goes way up?
A. Definitely. When bullion prices go up, that simply shows that the bullion demand has increase and prices are higher relative to the dollar. We buy bullion at those higher prices because our customers will be paying us higher prices. The bullion markets are very simple: prices are simply re-adjusted in terms of how many dollars will buy an ounce based on the supply and demand on the bullion market. Everyday, each precious metal is traded for dollars, and conversely, dollars traded for the precious metal. Price is the balance between the two.
Q. What are the limits on how much gold I can own?
A. Private gold ownership in Canada has no size limitations. You may buy as much or as little as you please.
Q. Do dealers buy bullion back at the same price they sell it?
A. No, the “spread”, or difference between the buying and selling prices allows dealers to stay in business. The precious metals business is a very competitive one, and the profit margin, or spread, is very small compared to almost any other inventory business. The Bullion Mart is determined to provide the narrowest spread possible for the bullion- buying public.
Q. How do I open an account with the Bullion Mart? What are the benefits of opening an account with the Bullion Mart?
A. You can download the form from our website at http://thebullionmart.ca/ and fill it up, and send it to us either by email or fax or by post. If you need any assistance then you may talk to our sales team or account executives to complete the application form, and get it done by phone, email or fax. Or you can call @ 416-928-0707 for further details, and to set up your account.
Q. What are the benefits of opening an account with the Bullion Mart?
A. Opening an account with The Bullion Mart presents many benefits such as forward booking, advance selling, placing an order overnight, and low premium on your account. As can be seen, setting up an account cuts down on time and is an efficient way for you to buy and sell your bullion.
Q. How can I buy or sell physical gold, silver, platinum and palladium?
A. Contact the Bullion Mart sales representative, and place your buy/sell order- it’s as simple as that!
Q. What form of payment can I make when buying or selling precious metals?
A. The Bullion Mart accepts certified cheques, bank drafts, and wire transfers. In limited quantities, cash and debit cards.
Q. Is it possible to carry physical metal?
A. Yes. Upon purchase of your physical metal, you may carry with you for no additional charges.
Q. What are the risks involved in purchasing precious metals?
A. With every investment one decides to embark on, there are certain risks associated with it. The fluctuation of value of precious metals can rise or fall quickly, resulting in a way of investment that is not for everyone. Before investing, one should ensure they have ample capital liquidity. We at the Bullion Mart are happy to answer your questions you may have about the market, but it is still best to consult with your financial advisor.
Q. Do I need any ID to buy or sell precious metal?
A. Yes, you need to produce your valid ID (like Driver’s License or Copy of Passport or any other valid government issued photo ID) in order to buy or sell your metals. However, if you do maintain account with us then you don’t need to produce your ID, just tell us your account number, and that’s it.