Below are our FAQs (Frequently Asked Questions), written by ATS Bullion on behalf of our customers. If your query is not answered on this page, it may be featured on one of the following pages:
If you have any other questions or suggestions for our FAQs, please call us on 020 7240 40 40 or email us at email@example.com.
How can I follow the Gold price? | What is the Gold Fix? | Do I have to pay commission or tax? | Is Gold a good investment? | How do I know that what I am buying is genuine? | Do I have to buy a minimum amount? | Are there I.D requirements?
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 large numbers of coins. We are happy to give you an idea of the current price over the telephone for your gold coins or for any other bullion.
What is the Gold Fix?
The price of gold is fixed twice a day at 10.30 am and 3.00 pm. Originally it was fixed by the four main Bullion Houses - HSBC, Barclays Capital, Scotia Mocatta and Societe Generale. From March 2015, the fix has been conducted electronically by Goldman Sachs, UBS, HSBC, Barclays, Nova Scotia & Societe Generale. The first gold fix was on 12th September, 1919 and was £4 18s 9d. This tradition has continued in order to provide a publicly quoted price as a benchmark to be used by producers and consumers. The Chairman announces an opening price and the other members, connected by a dedicated conference call facility from their dealing rooms, declare themselves to be buyers or sellers of a number of bars at that price. In earlier years the members used to meet at the premises of N M Rothschild to fix the price. Each representative had a small flag on his desk and this was raised at a change of orders from his dealing room. If any flag was raised, the price could 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. Click here to find out today's Gold Fix.
Do I have to pay 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! When buying or selling you are more than welcome to ask the dealer what premium you are being charged. The deal will be very transparent, so please do not hesitate in asking us.
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 90â€™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. - If you are uncertain check out our Beginners Guide to Gold.
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! Forged coins can be of any age and often 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. ATS Bullion only deal in LBMA approved 'Good Delivery' gold bars. For more information regarding Good Delivery bars please visit www.lbma.org.uk/good-delivery.
Do I have to buy a minimum amount?
No, we can supply you with coins or bars from as little as £20 - 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.
Are there I.D requirements?
If you are buying through our website, we will only require identification if you are purchasing over £10,000 in multiple transactions or if we wish to do further due diligence checks. If you are looking to sell to us: up to £5,000 we will require one form of photo ID (passport or UK driving licence) and anything over £5,000 we will require a second ID in the form of a proof of address (bank statement/council tax statement/utility bill). For purchases over the phone or over the counter will require identification. For more information - view our Transactional Limits. Please note if buying on behalf of a business, we will be required to enhanced due diligence. For business purchases please contact firstname.lastname@example.org or 020 72 40 40 40.