Q: How can I buy precious metals from Scottsdale Bullion & Coin?
A: Simply follow these three steps to buy gold and precious metals from SBC:
- Call SBC at 1-888-812-8132 to speak with an Account Executive (AE) and request our FREE investor kit. Ask any questions you may have and review the investor kit.
- Confirm your selections and form of payment with a SBC Account Executive.
Q: Am I buying real gold?
A: Yes. You are acquiring physical gold that will be delivered to you.
Q: Can I store my precious metals if I don’t want to take possession?
A: For most clients, the answer is yes. Some states require clients take delivery of their precious metals. Your Account Executive can provide additional information on whether third-party storage is available for your acquisitions.
Q: When will I get my order?
A: Scottsdale Bullion and Coin will deliver your order within 7 days of receipt of good funds.
Q: What is the spot price?
A: Precious metals are traded throughout the day in different markets. The most active trading occurs in New York, London, Zurich, Tokyo, Sydney and Hong Kong. The prices quoted in our chart reflect the “spot” price of precious metals. The spot price refers to the price paid for immediate delivery.
Q: How long should I plan on holding my precious metals investment?
A: All precious metals should be considered a long-term investment. While market conditions may dictate longer or shorter holding periods, we recommend that our clients hold precious metals for a minimum of 3-5 years, preferably 5-10 years, to maximize their profit potential.
Q: How much of my investment portfolio should be in precious metals?
A: We recommend investing no more than 5%-20% of your investment dollars in precious metals. Other individuals and institutions may recommend different percentages. You must choose what is right for you based upon individual circumstances.
Q: Is this a low-risk investment?
A: All investments have risk, including gold and silver. Markets go up and down and any investment can lose money. Contact our Account Executives for a complete explanation of the risks involved and conduct your own due diligence.
Q: Are any gold coins exempt from government recall?
A: Currently, there are no restrictions on gold ownership. The United States’ ability to recall gold is limited to times of war and requires Presidential action or an Act of Congress. No one can say with certainty if or how the government might prohibit private ownership of gold in the future. No one can say with certainty if a particular gold product would be exempt from any future prohibition.
In 1933, the United States government, by Executive Order, prohibited the private ownership of certain quantities of gold bars and coins. At that time, the United States was on the gold standard and in the depths of the Great Depression. Gold owners were paid the then current gold standard price of approximately $20 per ounce. In 1934, the government raised the price of gold to $35 per ounce. This effectively devalued the dollar by approximately 43% and raised the price of gold by approximately 75%. The Executive Order that banned private ownership of gold included several exceptions.
One exception allowed people to own ‘gold coins having a recognized special value to collectors of rare and unusual coins. The United States left the gold standard in 1971 and the Executive Order prohibiting private gold ownership was repealed in 1974. The Treasury Department at various times identified different gold coins which it considered to be of recognized special value to collectors of rare and unusual coins. These included all United States gold coins minted prior to 1933 and all-foreign gold coins minted through 1959.
Q: Do you need my Social Security Number (SSN) when I buy coins/bars?
A: Scottsdale Bullion and Coin only requires your social security number for purchases (including related transactions) in excess of $10,000 which are paid with cash or a cash equivalent (e.g., cashier’s check) as part of its IRS Form 8300 reporting requirements.