FREQUENTLY ASKED QUESTIONS
Simply follow these three steps to buy gold and precious metals with Goldline:
- Call Goldline at 1-800-963-9798 to speak with an Account Executive (AE) and request our free Investor’s Kit. Ask any questions you may have and review our important risk information.
- Complete our Account Agreement and select your first acquisitions.
- Confirm your selections and form of payment with a Goldline Client Service Representative.
For additional information, view our most popular gold and silver products.
You are acquiring physical gold that can be delivered to you or stored with a third party depository (some restrictions apply).
Most of our clients are not collectors. However, we find that some investors become interested in coin collecting both as a hobby and as an additional means of diversifying their assets. There is an undeniable thrill in owning a coin that may have circulated in Biblical times or was recovered from a Civil War shipwreck. Goldline’s in-house numismatists can assist you with starting or adding to a coin collection.
Refund policies vary from state to state. You can find a complete list of refund policies per state in our Account Agreement, which you should review before acquiring.
"Ask" refers to a coin or bar’s selling price.
"Bid" refers to a coin or bar’s buyback price.
"Coin Grading" refers to a grading system to describe the condition of a coin. The most commonly used grading system grades coins on a scale from 1-70 with a 1 for coins in poor condition and a 70 for "Mint-State" condition that represents the perfect coin.
"Markup" refers to the amount added a coin or bar’s cost to obtain the selling price.
"Melt Value" refers to the value of a coin or bar based upon the precious metal content multiplied by the spot price of the metal. For example, if a coin contains one ounce of gold and the spot price is $900 per ounce, the melt value of the coin is $900.
"Obverse" refers to the front or "heads" side of a coin.
"Premium" refers to the amount charged above a coin or bar’s melt value.
"Reverse" refers to the back or "tails" side of a coin.
"Spread" refers to the difference between a coin or bar’s "ask" price and its "bid" price. For example, if a coin’s ask price is $1,000 and its bid price is $700, the spread is $300 or 30%. A coin or bar’s spread is different from its markup.
"Spot price" refers to the price paid for a precious metal based upon immediate delivery. Spot prices may be expressed as the "ask" or selling price or the "bid" or buyback price.
Goldline does not comment on specific competitors, their practices or prices. We encourage our clients to conduct their due diligence and believe the following questions are helpful in choosing a precious metals company – especially when considering that investing in precious metals is a long-term venture.
- How long has the company been in business?
- Does the company disclose its pricing, refund and delivery policies in writing?
- Does the company have a personal concierge to assist clients with questions about their purchases?
- Is the company independently audited by a recognized accountancy firm?
- Does the company identify its key executives and management on its website?
For more information, call 1-800-827-4653. Goldline Account Executives are available to assist you Monday through Friday, 6 a.m. to 6 p.m. PST, excluding major holidays.
Generally, yes. For almost all of our products, Goldline clients have the option of either taking prompt delivery or storing their acquisitions with a third-party storage facility (some restrictions may apply). If you opt to take delivery, your acquisitions will be delivered within 28 days of payment of good funds (unless your state requires a different delivery period). The one exception is stored bullion. See our Account Agreement for more details.
For most clients, the answer is yes. Some states require clients take delivery of their precious metals. Your Account Executive can provide additional information on whether third-party storage is available for your acquisitions. You should review Goldline’s Account Agreement for the full terms regarding storage.
Goldline will deliver your order within 28 days of receipt of good funds.
Precious metals are traded throughout the day in different markets. The most active trading occurs in New York, London, Zurich, Tokyo, Sydney and Hong Kong. The prices quoted in our chart reflect the "spot" price of precious metals. The spot price refers to the price paid for immediate delivery. Click to read more.
Goldline has a spread or price difference between our selling price, called the "ask", and our buy-back price, called the "bid". That spread varies depending on coin or bar you acquire. Spreads on 1 oz bullion coins, 90% silver dimes and quarters, and one ounce and larger bullion bars are 13%. All other coins have a spread of 28%. There is also a 1% liquidation fee when you sell your coins back to Goldline. You should read our risk disclosure booklet, Coin Facts for Investors and Collectors to Consider, and our Account Agreement, which describe the various spreads and will tell you how the spread works.
We do not offer any tax advice. Your tax advisor should be able to help you with this question.
No. When we send your trade to confirmation, you are entering into a binding trade, subject to any state refund policies which you can find in our Account Agreement.
Selling Gold and Silver
The law does not allow us to guarantee a buy-back but, historically, we have repurchased the coins we sold and intend to do so in the future.
You pay a 1% liquidation fee on the bid price of the coin. The bid or buy-back price is lower than Goldline’s sell or ask price. You should read our risk disclosure booklet and Account Agreement for an explanation of the costs involved in buying and selling coins. Keep in mind that we recommend you hold your precious metals for a minimum of 3-5 years.
Goldline welcomes the opportunity to consider acquiring coins our clients purchased from other companies. There are a variety of factors which Goldline must consider in determining whether to purchase these coins including condition and current demand. Clients should know that Goldline generally offers lower prices for coins that were not originally acquired from Goldline.
Investing in Gold and Silver
No one can say with certainty whether prices will go up or down. Goldline provides a variety of free information regarding the precious metals markets including information here on our website and our syndicated radio show, American Advisor. Please keep in mind that we recommend you hold your precious metals for a minimum of 3-5 years.
We are not able to offer you advice on your other investments. You must independently decide what is right for you. We do recommend that you invest no more than 5%-20% of your investment dollars in precious metals.
Yes. Many Goldline clients choose to include precious metals as part of their retirement planning. It’s an easy three-step process to open your precious metals IRA. You can start by downloading and reviewing the appropriate IRA account forms.
All precious metals should be considered a long-term investment. While market conditions may dictate longer or shorter holding periods, we recommend that our clients hold precious metals for a minimum of 3-5 years, preferably 5-10 years, to maximize their profit potential.
We recommend investing no more than 5%-20% of your investment dollars in precious metals. Other individuals and institutions may recommend different percentages. You must choose what is right for you based upon individual circumstances.
Prices for coins such as the Swiss 20 Franc, British Sovereign and the French Rooster generally follow the spot price of gold. When gold goes up, these coins go up and when gold goes down, these prices go down. However, there may be a premium for these coins based upon demand as numismatic or semi-numismatic items.
Physical damage to a coin may affect its value depending on whether it carries a premium above its metal value. Toning (sometimes described as tarnish) generally does not affect a coin’s value and, in some instances, may be perceived as an added value to collectors.
A coin's spread is different from its mark-up. The bid or buyback price for a coin with a 28% spread must appreciate 38.88% to overcome the spread. Stated another way, the bid or buy-back price for your coin must equal or exceed your purchase price for you to overcome the spread. We have a mathematical example of how the spread works in our risk disclosure booklet Coin Facts for Investors to Consider, which you should read.
Currently, there are no restrictions on gold ownership. The United States' ability to recall gold is limited to times of war and requires Presidential action or an Act of Congress. No one can say with certainty if or how the government might prohibit private ownership of gold in the future. No one can say with certainty if a particular gold product would be exempt from any future prohibition.
In 1933, the United States government, by Executive Order, prohibited the private ownership of certain quantities of gold bars and coins. At that time, the United States was on the gold standard and in the depths of the Great Depression. Gold owners were paid the then current gold standard price of approximately $20 per ounce. In 1934, the government raised the price of gold to $35 per ounce. This effectively devalued the dollar by approximately 43% and raised the price of gold by approximately 75%. The Executive Order that banned private ownership of gold included several exceptions.
One exception allowed people to own 'gold coins having a recognized special value to collectors of rare and unusual coins. The United States left the gold standard in 1971 and the Executive Order prohibiting private gold ownership was repealed in 1974. The Treasury Department at various times identified different gold coins which it considered to be of recognized special value to collectors of rare and unusual coins. These included all United States gold coins minted prior to 1933 and all foreign gold coins minted through 1959.
As part of its IRS Form 8300 reporting requirements, Goldline requires your social security number for purchases (including related transactions) in excess of $10,000 which are paid with (1) cash or (2) any combination of cash and cash equivalents, such as a cashier’s check, where the cash equivalent’s face value is less than $10,000. Cash reporting requirements are set forth in IRS Publication 1544 available online at http://www.irs.gov/pub/irs-pdf/p1544.pdf
Many of Goldline's clients are concerned about identity theft, personal privacy, and telling others that they own precious metals. Accordingly, they often choose coins that do not require the disclosure of personal information such as name, address, and social security number when they sell the coins. The coins that currently do not require the disclosure of personal information when you sell them include certain bullion, semi-numismatic, and numismatic coins.
Goldline may monitor or record a telephone call for purposes of training and compliance with our policies and applicable law.