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Homepage  FAQs
How can I follow the gold price? Most daily newspapers will have some sort of indication price quoted - sometimes just for the gold price and sometimes for coin prices. However, do bear in mind that these prices are always a day behind and generally are the inter-bullion house rates for enormous numbers of coins. We are happy to give you an idea of the current price over the telephone. What is the gold fix? The price of gold is fixed twice a day at 10.30 am and 3.00 pm at the premises of N M Rothschild by the five main Bullion Houses - Deutsche Bank, HSBC, NM Rothschild, ScotiaMocatta and Societe Generale. The first gold fix was on 12th September, 1919 and this tradition has continued in order to provide a publically quoted price as a benchmark to be used by producers and consumers. The Chairman, traditionally a representative of N M Rothschild, announces an opening price and the other members, who are connected to their dealing rooms, declare themselves to be buyers or sellers of a number of bars at that price. Each representative has a small flag on his desk and this is raised at a change of orders from his dealing room. If any flag is raised, the price may not be fixed. The price is moved until an optimum price is achieved to satisfy both buyers and sellers. Once the total buy and sell amounts from each dealing room are within 25 bars of each other, the gold price can be fixed. Immediately the price is fixed it starts moving again on the market. How do I know that what I am buying is genuine? Always buy from a reputable dealer - most coins and bars do not come with a certificate. At ATS Bullion we are members of the BNTA (British Numismatic Trade Association) and dealers accepted for this association have to adhere to a strict code of ethics. Fake coins and bars do exist - many are made in the Middle East where it is not illegal to reproduce coins. Forgeries are not always the same purity as the genuine article and sometimes they are not even gold! Very often forgeries are contemporary - they were produced around the time of the genuine article, so even if they have been in the family for years, they may not be genuine. Do I have to pay any commission or tax when I buy? We do not charge any commission. However, there is a margin between the buying and selling price which is how we make a profit! There is no longer any VAT on investment gold coins and bars. The majority of the silver coins we sell would not have VAT on the purchase price to you. Very recent silver and base metal issues are generally still subject to VAT - for example the 2003 Royal Mint issues. All silver and platinum bars are still subject to VAT at 17.5 %. Is gold a good investment? Nobody can predict the future price of gold. It is a traditional safeguard, but the market can move up and down just like the stock market. Investors who made a fortune from gold purchased in the 1960’s and 70’s and sold in the gold boom of 1980, would have seen their investment dwindle during the late 1980’s and early 90’s. Good profits can be made if you are able to catch the market at the right time. Most financial advisors would recommend that you have part of your investment portfolio in gold, as the economic forces that determine the price of gold are different from those which influence other financial investments. However, it is wise to remember the old saying of never putting all your eggs in one basket. Do I have to buy a minimum amount? No, we can supply you with coins or bars from as little as £25 - ideal if you are looking for a gift. We can also supply coins of specific years - perfect for a present for a special birthday or anniversary. If you would prefer to give a silver coin or a set of coins for that year, we can normally suggest something suitable. |
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