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Frequently Asked Questions
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The "market" price of gold is a theoretical price upon which all gold business is based. It is a base price, before any commissions or fees, and does not include costs such as minting, insuring, shipping, and so forth.
Simple economics is why bullions that are fractions of an ounce cost more per ounce than a 1-ounce bullion. There's a fixed production cost to bullion, no matter what the size. So on a smaller size bullion, that production cost is a bigger percentage of its gold value.
All the gold mined in the history of the world would fit in a cube 60 feet on each side, that is to say, it would fit in the space underneath the Eiffel Tower.
The world's central banks and private citizens certainly don't think so. Our own Fort Knox contains the U.S. national gold holdings which form our monetary reserve. Although gold as money is not a part of our daily lives, every major nation holds gold as a fiscal insurance policy. Money in the form of paper currency and accounting entries comes and goes, but gold is a form of permanent national wealth. Paper monies often become obsolete - gold never has.
Yes, in the United States, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold bullion, without a special license. On January 1, 1975, these restrictions were lifted and gold can now be freely held in the U.S. without any licensing or restrictions of any kind.
No special care is needed with gold - gold will not tarnish or corrode no matter how you store it. We do recommend keeping the gold in its original sealed packaging, just as you receive it from us.
If you hold gold as an investment, and later sell it at a profit, you will have either a long-term or short-term taxable gain, just as you would with any other investment.
No, there is no branch of federal, state, or local government that is interested in how much gold you might own.
The "market" price of gold is always changing, and there will be many different legitimate "market" prices in a single day. Other sources will vary depending on how up-to-the-minute they are in their pricing.