How to Buy Precious Metals from Monex
Free Introduction to Owning Precious Metals
The Investing Experience
Buying precious metals from Monex is quick, easy and secure. Upon deciding on which products to invest in and how much to purchase, simply call your Account Representative to initiate the ordering process. The details of your purchase, including quantity and price point, will then be confirmed on a recorded line with your acknowledgment. Written confirmation of your order will be mailed to you by the next business day.
Payment for your precious metals must be initiated on the day of purchase by bank wire, personal check or cashier check. Bank wires are considered "good funds,” while all other forms of payment will require a hold funds period, after which the order will be processed, packaged and delivered. You may choose either personal delivery, or if purchasing in an Atlas account, delivery to a bank or depository for storage. If your purchase is through a company or trust, or delivery is to a third party, you are required to provide executed legal documents authorizing you to make such purchase.
When your purchase is made for delivery to a bank or depository, the custodian will send you a Commodity Transfer Notice indicating their receipt of the metal that they are holding on your behalf.
Shipping Your Metals
Personal delivery is made by UPS or the U.S. Postal Service's Registered and Insured Mail by request. Upon completion of your transaction and following any applicable hold-funds period, your order will be processed, packaged and sent to the delivery service. An e-mail delivery notification is sent once tracking information is received from the delivery service.
In consideration of weight and value limitations, your order may be shipped to you in more than one package and arrive on different days. As such, you will be able to follow all shipments via the provided tracking information. Please ensure your availability to take delivery on the estimated delivery date.
How is a current spot price calculated?
Spot Prices represent the midpoint between Monex bullion bid and ask prices per ounce. A Current Spot Price is calculated as a bid/ask average, based on a virtual non-stop price discovery process of active comparable commodity transactions. They include dealer and exchange markets throughout the world. Typically, markets track each other when active, but physical delivery price in regards to locations can present anomalies, especially if transportation is slow, costly or restricted. If open, dealer and exchange markets fluctuate throughout the day. For example, if the historical price per ounce of a COMEX/NYMEX futures contract or the London dealer market were to fluctuate up a dollar, typically the Spot Price gets calculated up a dollar. Obviously, market prices can fluctuate irrespective of a particular historical transaction price reported.
How is my precious metal's authenticity verified?
Your metal’s authenticity and purity is verified through a third-party company which specializes in authenticating precious metals.
Is now a good time to buy silver bullion?
As one of the world's most recognized alternative investments, buying silver goes hand-in-hand with greater uncertainty in the world. During recent months, uncertainty has rippled throughout not just our economic system, but the geopolitical system as well. When uncertainty looms in the horizon, it suggests an ideal time to buy silver.
What is the best bullion price?
As America's longstanding and reliable bullion marketplace for over 50 years, Monex companies have been recognized as an industry benchmark for retail bullion investments. Most importantly, Monex offers very attractive round-turn competitive prices quoted live online. Refer to our Live Prices page for the best bullion buy and sell prices.
What is the difference between ask, bid and spot prices?
Bullion bars and coins are sold at Monex Ask prices, which are subject to a buy charge. An “Ask” price is a dealer quote inviting an investor to buy, and “Bid” is a quote at which the investor would sell. The difference that the Ask price is greater than the Bid price is the dealer's bid-ask spread. Common industry practice is to reference a “Spot” price, which benchmark relates to a per-ounce price of the current (“Spot”) month.
Why do investors choose to buy gold or other precious metals?
Gold, silver, platinum and palladium offer many benefits such as portfolio diversification, high liquidity, a potential hedge against inflation, and more. Investing in precious metals also means you are investing in a metal that is used on a global scale. Metals are traded in global markets from New York to Hong Kong to Zurich. Almost every major government in the world holds a certain amount of physical metals as a vital reserve asset. As far as benefits go, this simply scratches the surface as to why gold, silver and other metals are not just a powerful commodity to invest in, but also popular around the entire globe.