As the market place for precious metals has emerged as a lucrative investment option, many new investors are eyeing it and doing their research before they shell out money to make a new purchase. To help investors enter the precious metals with complete clarity, Wholesale Gold Group answers the top 10 frequently asked questions, which our clients and potential clients often ask.
Q: What if I can’t find the answer to my question on the website?
A: Please contact us by email at [email protected] or call us with any questions you may have.
Q: Do you offer any investment advice?
A: No, absolutely not. We are not investment advisers, financial consultants, or in any way authorized or licensed to provide you with investment directives. We buy and sell precious metals only. Please do your own research, review your current financial situation, and purchase with prudence and clarity. Purchasing precious metals is always a risk, and you should be aware that you are doing so at your own risk. The information on this website is offered as opinion only and it is our hope that it helps people ask better questions while investigating precious metals as an investment.
Q: Where can I go to check the current value of our precious metals?
A: You can call us and we will give you either our buy back for the metals if we are in a position to buy or we will give you the bid price from one of our suppliers. On bullion products you can also see the bid price on the ticker at the top of the website for current bullion bid prices.
Q: Can you handle large orders?
A: Yes, we are a volume dealer that can handle large orders. Please contact us directly on rates for orders over 50 million.
Q: What happens if your Gold & Silver prices goes down?
A: If our prices go down, you will NOT receive a price adjustment on orders placed prior to the change. ALL SALES ARE FINAL! We reserve the right to change our asking price of all our precious metal products without prior written or verbal notice, and at any time.
Q: Can I exchange or return the precious metals that I have purchased?
A: We do not allow returns, as all sales are final. However, we do offer a “buy back” or sell option wherein we are willing to pay a fair market rate for sales to one of our suppliers, please review the information within the “Risk Disclosure” section. Should you have additional questions about this, please feel free to call us.
Q: Do you buy back precious metals in the future when I want to sell?
Yes, either we will or one of our dealer network partners will offer you a buy price. When you are ready to liquidate, we’re ready to help.
Shipping/Selling instructions:
1. Double box your metal and pad it so nothing moves around. Rubber band your coins together and wrap in bubble tape.
2. Tape it up securely with tape made for shipping.
3. Write your return address clearly on package
4. Write on the mailing slip your Purchase Order # that we provide.
5. Go to US Post office and tell them you want Priority Mail (INSURED) for the value of contents.
Address the mailing slip as follow:
D.G.M
Att: WGG 20633 PO # (input your PO # here)
15301 Dallas Pkwy Suite 200
Addison, Texas 75001
***When we have received the metals, we will credit your account with the amount on PO receipt and you can either have us send you a check in that amount or buy other precious metals.
Q: Does wholesale Gold Group have to honor all orders, so long as payment is received in office within 24 hrs?
A: If the payment is received within 24 hours the order will be fullfilled as requested. However, if the payment is not received within 24 hours, the invoice may be re-valued if the market moves up more than 2%. If the client fails to fund their order, the client is subject to a 3% cancellation fee. All orders are final upon receipt of invoice.
Q: The information you collect from site visitors and clients safe and private?
A: The information that we collect is not shared or used for any reason other than it must be made available in the event we are audited. You can view our “Privacy Policy” here.
Q: What are the risks that I assume in purchasing precious metals?
A: Risks include:
* There is no guarantee that the value of the precious metals you buy will go up in value.
* The value of the precious metals you purchase may go down. View: “Risk Disclosure“
Q: “HOW LONG WILL YOU HOLD THE POSITION AND PRICE OF MY ORDER?”
A: Irrespective of how large or small your order is, we allow a grace period of 24 hours within which you will need to fund your account. For orders that have not been funded within this time frame of 24 hours, the prices are subject to a re-adjustment depending on how the spot price of the precious metal in question has changed. However, there are exceptions to this 24 hour grace period. So, in case you fail to fund your account within the desired time, please contact your Account Executive to know about your options.
Q: “WHAT ARE THE WAYS TO FUND MY ACCOUNT?”
A: To fund your account, you can use any of these four payment methods – by cashier’s check, personal check, bank wire or money order. Bank wire is the safest and fastest way to fund your account and is the preferred method and if you choose to do a wire we will waive the shipping and insurance cost. You should tell your Account Executive in case you wish to opt for using a check so that our billing department is notified of the transaction. Please note we cannot lock in your price until your check clears.
Q: “CAN I USE A CREDIT CARD TO FUND MY ORDER?”
A: No. Orders can’t be funded using a credit card. For online purchases, you can only hold the availability and price of your desired positions using your credit card but after the 24 hour grace period is over, you will need to fund the account fully using one of the four payment options mentioned above.
Q: “DO I NEED TO PAY ANY EXTRA FEES ON THE PRICE I AM QUOTED?”
A: We charge a flat fee for insurance and shipping for all orders, irrespective of how small or large they are. In lieu of this fee, your position is guaranteed for the entire purchase value that’s insured for, which is sent via express mail to you. All these fees are inclusive of the cost of the precious metals that you buy. In other words, the price quoted by your account executive for precious metals is the final price and you will not need to pay any additional fees on it.
Q: “HOW DOES YOUR SHIPPING PROCESS WORK?”
A: Once you have completely funded the order, your precious metals are shipped to you registered/insured and we provide you a tracking number via e-mail, so that you can track the package until its delivered. Since all shipments require a signature, you should track your order and be at the address when the package arrives. From the moment your order is placed, it will take anywhere from 2-15 days for the precious metals to reach your hand. Once you get it, make sure to store your precious metals immediately in a safe.
Q: “HOW DOES YOUR HANDLING PROCESS WORK?”
A: We use FedEx and USPS to send all packages. For larger institutional purchases, we use Brinks for the orders delivery, all of which are accompanied by an armored guard.
Q: “AFTER I RECEIVE MY PRECIOUS METALS, WHAT SHOULD I DO?”
A: Once your precious metals arrive, we suggest you to store it immediately. Having a safe deposit box at your local bank is one option for such storage. They are quite inexpensive and usually cost $75-$125 yearly depending on the size. Since these safe deposit boxes are easily accessible and secure, you can take a look at your safe deposit box on any of the six working days of the week at most banks, and even store additional valuable items like important documents, stock certificates, and jewelry. Since banks do not require you to disclose any information about the contents of your box, your safe deposit box will be completely private. Additionally, you can purchase home safes for under $500 that can be delivered to your door. Google, “Buy A Safe” and you will find many options to choose from.
Q: “IS THERE A BUY BACK POLICY?”
A: We understand that people may often need to access capital from their investment portfolio in the present turbulent economic times, especially when an unforeseen event occurs. This is why Wholesale Gold Group has never declined the chance to re-purchase precious metals from a client. We encourage you to offer your valuable metals to us first once you have decided to sell them. To learn more about our buy back policy, you can contact an Account Executive at (888) 245-5888.
Q: “IS GOLD CONSIDERED TO BE A LIQUID ASSET?”
A: Yes. In the bull market, Gold has been present for the last 8 years and with its increasing demand, its liquid value too has grown. For more than 6000 years, gold has had a value and this is one of the only assets which you can carry anywhere in the world and liquidate.
Q: “WHAT ARE THE CATEGORIES OF PHYSICAL GOLD I CAN INVEST IN?”
A: Usually, you can invest in three categories of physical gold. The first category is plain gold bullion, which is any newer gold coin or bar that continues to be minted and is abundant in supply. Second is Private gold, also called certified or numismatic gold and belongs to the second category, which refers to any gold coin that is either minted in low supply, rare or is no longer minted at all. The third category is of proof gold which was designed especially in 1987 for retirement accounts. Since each of these categories of gold has different benefits, it is best to call (888) 245-5888 to speak with an Account Executive to get details of which one will meet your investment objectives the best.
ADDITIONAL FREQUENTLY ASKED QUESTIONS
Investing in gold is becoming exceedingly possible, and for good reason. Few other investments can provide such a surefire way to protect your wealth. For many looking into gold or silver investment, a few questions may exist. Here are some of the most commonly asked questions and the answers to them.
1. Is hyperinflation on the way? – The signs of hyperinflation are popping up daily. Health care and education costs are skyrocketing, stocks are rising, social security is paying more than it brings in, and gold has reached record values. No one can pinpoint when it will occur, but many experts agree that hyperinflation is right around the corner.
2. What about the U.S. dollar’s appreciation? – Thanks to the economic issues in Greece, the Euro has been shorted by most investors. Since the dollar is weighted against the Euro, it has seen recent increases in its index. But this is deceptive since the gold price has maintained a strong showing. In short, the dollar really hasn’t appreciated at all.
3. What’s coming? Taxes or more printed money? – The short answer is probably that the government will simply print more cash. History has shown that in previous times of crisis the government tries to solve the issues by printing more money. Inflation could come about so quickly that even buying a pair of jeans would cost a year’s salary.
4. Is the inflation rate really higher than the CPI index suggests? – Absolutely. The government intentionally places the inflation rate lower than it truly is since government programs like social security base payment increases on the CPI index. It’s against their best interests to report a high inflation rate since they’ll have to pay out more money. Looking at most real data the inflation rate is actually between three and four percent higher than what the CPI suggests.
5. What about China? – China is basically supporting our economy by allowing us to incur huge debts to them. Right now many people in China can’t afford their goods, cheap as they may seem to us. Once their government decides to stop helping us and lets their own currency strengthen (which is on the way), they won’t need us to buy their products anymore. Their own citizens will be more than capable of doing that themselves.
6. Can’t we threaten other countries with military action? – The theory that other countries will continue to swallow America’s debt or face the might of our military doesn’t really hold much water. The truth is that the military is the source of the majority of our deficit. If other countries stop supporting us financially, we won’t be able to afford our armed forces. A tank isn’t much use if you can’t afford to fuel it up.
7. Can we really get out of debt? What about deflation? – We currently owe six hundred percent of our GDP. We’re in debt to the tune of over twelve trillion dollars. In short, no – we can’t pull out of this level of debt. The only solutions are to default on our debts or keep printing money like crazy. America will take the latter option over the former any day, and drive inflation ever skyward. Deflation is unlikely to happen in the future.
8. What about the gold in federal reserves? – The amount of gold America currently holds in reserve is worth little compared to our trillions of dollars worth of debt. Banks and financial institutions cling to their gold reserves because they are required in order to protect foreign exchange values. It’s real money, and important for them to have despite the fact that currency isn’t convertible into gold any longer.