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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.
If you would like to sell your gold to ATS Bullion Ltd we can fix a price over the phone or in the office. We would then require an authorisation letter with photo identification authorising ATS Bullion to withdraw the gold from the holdings. After we have the authorisation letter and photo identification payment can be made by bank transfer or cheque. Cash can also be paid out up to a certain limit if the transaction is completed at our premises.
If you would like to collect your gold we require a minimum of 24 hours’ notice and photo identification. If you would like your gold delivered we would require an authorisation letter with photo identification instructing us to deliver with the address.
The charge is 1% + VAT of the value of the holdings per annum. This will be charged from December 1st, or the date into which the gold goes into storage. The minimum charge for a deposit is £100 + VAT (i.e. any holdings under £10,000). If the goods are added during the year, a new invoice will be issued for the new holdings on the date it is added and charged up to December 1st on a pro rata basis (per month). A new invoice will then be issued the following December 1st for the entire holdings.
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 90s. 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.
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.