FAQ - Frequently Asked Questions
Can I return a product?
No, but you can sell it back to us.
This is because the prices of investment products are subject to changes in financial market quotations over which we have no influence and are entirely outside the control of Golden Reserve.
Products purchased from us cannot be returned for a refund of their purchase price. They can be repurchased from us at the advertised purchase prices.
Since the investment grade products we sell are liquid, you can sell it at any precious metals dealer.
Which gold is called investment gold?
Under the Value Added Tax Act (VAT Act), investment gold includes:
- Gold in the form of bars or bars of a weight recognised in the gold markets and a purity of at least 995 thousandths.
- Gold coins determined by order of the Governor of the Bulgarian National Bank and the Minister of Finance, which meet the following criteria:
- Purity of at least 900 thousandths.
- Cut down after 1800.
- Have been or are legal tender in the country of origin.
- They are sold at a price that does not exceed the value of the gold in them by more than 80% of the market price.
In summary, investment gold is high purity coins and bars (over 90% for coins and over 99.5% for bars) that trade at prices close to the exchange value of gold. These investment instruments are widely recognised and exempt from VAT.
Do you always have coins and bars?
We strive to maintain inventories of all types of investment gold, including coins and bars, in our portfolio. Depending on the specific product and quantity desired, it may be necessary to contact us in advance to ensure availability specifically for you.
Most of the products in our online shop are available. If an item is out of stock, a representative will contact you to determine when it can be delivered.
What does "ounce" or ounce mean?
When it comes to investment metals and the term “ounce” (oz) is mentioned, it is important to clarify that it is the “troy ounce” that is meant.
The troy ounce, also known as the troy ounce, is a unit of weight used primarily in measuring precious metals such as gold, silver and platinum. One troy ounce is equal to 31.1034768 grams. This measure originates from the city of Troyes in France, which was an important trading centre in the Middle Ages.
What are the conditions for buying gold or silver over 10 000 BGN?
Payments for products valued at more than 10 000 BGN can only be made by bank transfer, in accordance with the “Law on Restriction of Cash Payments”.
If your orders for the day exceed 9 700 BGN, according to Article 66, paragraph 2 of the “Law on measures against money laundering”, you need to fill in a Declaration of origin of funds.
How is the price of gold and silver determined and why is it constantly changing?
TOTAL PRICE: This is the price you will pay to buy investment gold. It consists of the VALUE OF THE METAL + PREMIUM + VAT (Note: investment gold is 0% VAT).
METAL VALUE: This amount is also called the spot price or exchange price. This is the price of the metal at which mines make deals with refineries and mint yards to subsequently smelt, cast and sell the broom in the form of bars and coins. This price serves as the basis for the price of precious metals because it is an indicator of the total demand – supply and satisfaction of the market.
PREMIUM: includes production and operating costs (production, handling, storage, etc.), also includes transportation costs, insurance, and trade margin.
Where and how do I store investment gold and silver?
Storing investment gold and silver is key to preserving their value and security. Here are some tips:
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Home safe: invest in a quality and reliable safe, resistant to burglary and fire. Place it in a hidden location to reduce the risk of theft.
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Bank safe: many banks offer safe deposit boxes for rent, which are well guarded and provide a high level of security.
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Public vault: this is another option for storing large amounts of gold and silver. These vaults are specifically designed for storing valuables and offer a high degree of protection.
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Spread the risk: if you have large amounts of gold and silver, consider storing them in different locations to reduce the risk of loss in the event of an accident.
Always consider the environment: store gold and silver in places with low humidity and constant temperature to prevent oxidation and other damage. Use gloves when handling to avoid transferring salts from the skin. Also keep in mind that a controlled environment will also help preserve the packaging, which usually bears the precious metal’s certificate.
Why do you require ID when selling gold?
According to the current legislation in Bulgaria, when selling gold on the Golden Reserve, the parameters of the sale must be described in a document issued by the seller. The document must also contain the identification data of the person issuing it. As individuals do not issue documents, Golden Reserve is obliged to issue a document upon purchase that contains the requisites required under Bulgarian law.
If you still haven’t found an answer to your question, please contact us via our contact page.
