FAQ's
ABC Bullion Services
Do you sell precious metal coins? Prices and Accounts
What is the price of a one ounce gold bar? Currency, Purchase and Storage
How does the strength of the Australian currency affect the price of gold? ID and Government Regulations
Is GST charged on precious metals? About Gold
What is it like to hold gold? Other Questions
What if I have special needs? What is your address and nearest cross street?
You can find us at level 6/88 Pitt St Sydney NSW 2000 - here is a map. The nearest cross street is Hunter St, and the building is opposite Angel Place. What are your hours of opening?
We are open Monday to Friday from 10am-4pm on every NSW business day, with the exception of a 2 week Christmas and New Year break. Even during our Christmas closure you are still able to make a trade via our phone trading system. If you want to check any of these details, please call our office directly on (02) 9231 4511. How does your pricing work?
All gold is priced using the current USD gold price (spot price) as a base, converting this into an AUD local currency using the current exchange rate. Lastly, a small additional fee (called a premium) is charged to cover costs and make a reasonable trading return. Will the price of gold rise?
It may, and indeed it has recently risen substantially in recent years. But like all investment classes, gold is an investment which is speculative, so there is always the possibility that the gold price could fall or just remain steady. We recommend you talk to your financial advisor about your intention to hold gold, and gold should only be a part of a balanced investment portfolio. What’s the price of a kilo of gold, silver, platinum or palladium?
Here is our daily pricing information sheet, so you can see the exact pricing right now. How and where can I store gold?
Many people store gold at home, at work (in a safe) or in third party high-security vaults. If home storage is your plan, here are some tips: - Take sensible precautions whenever you are transporting gold to or from home. - It is very important that do not tell anyone that you store gold at home. - Store your gold in a hidden fireproof safe. - Make sure you are insured for replacement value (not purchase price). How much gold should I include in my portfolio?
You will need to refer to your financial advisor for personal advice on this question. However, the World Gold Council commissioned some excellent work to find out how much gold in a portfolio should be held in order to increase long term performance and reduce volatility. Their conclusion was a recommended holding of 2.5% (for an otherwise low risk portfolio) through to about 4% (for an otherwise medium risk portfolio) and up to about 10% (for an otherwise high risk portfolio). Can I buy less than one ounce of gold?
Yes. You can buy fractions of an ounce (for gold, platinumm and palladium) and fractions of a kilogram (silver) when you use an unallocated metals account, or when you buy smaller bars (wafers) and coins. However, for account purchases, the minimum purchase is 1oz (gold, platinum, palladium) or 1kg (silver). How many grams are in an ounce?
There are 31.1035 grams per troy ounce (oz). That is a troy ounce?
This is the measurement system for measuring the weight of precious metals. Why do you want to see identification before you will sell me over $5000 worth of gold?
The law requires this. Can I order by phone?
Yes, as long as you have a current client identification number. Contact us to get one today. Where can I go to learn more about gold investing?
Hopefully you will find plenty here on this website. There is a lot of information on the internet that is worth reading, but please do call us if you want to talk through any Australian issues in particular. What is the smallest gold bullion I can buy?
You can buy gold bars from 2.5 grams right up to a 1kg bar. How much do I have to buy to qualify for free storage?
We offer free storage and replacement insurance from Lloyds of London for purchases over 1oz (gold, platinum, palladium) and 1kg (silver) for Secure Bulk Storage or unallocated storage only. Please refer to our storage options page.
What do you suggest for a new gold bullion investor?
We always suggest that a new investor has a trusted financial advisor to assist with wealth planning. In terms of getting started in gold, the most common entry point for a new investor is to open a metals account and buy a 1oz gold bar (storage fees apply). Can I buy gold or precious metal for my self managed superannuation account?
Yes, please read all our information about gold and self-managed super. Once you have finished, remember to give us a call and we will help you get started. What’s it like to hold gold
Our first time customers get a shock when they first hold gold – it is very heavy. A 1 oz bar weighs 31.1035 grams and is about the size of a single playing die, but with the weight of a large apple. People transport the metal in small briefcases or backpacks because bars, while small, can easily fall through pockets because they are so heavy! What are platinum, palladium and silver?
Platinum, palladium and silver are all precious metals, like gold. For the beginning investor or people buying for a Self Managed Super, we usually recommend starting with gold or silver because platinum and palladium have some trading aspects that are a little more complex than gold and silver. What is a gold ETF (or precious metal ETF)?
Precious metal Exchange Traded Funds (ETFs) are traded on both Australian and international stock exchanges. You can buy "shares" in precious metal ETFs, and the prices of the shares are meant to track the price of the underlying assets. ETFs are very similar in nature to a unit investment in this way. In gold circles, we often refer to ETF holdings as "paper gold." Do you sell precious metal coins?
Yes - we carry a wide range of gold coins including Krugerrands, sovereigns, Canadian maple leaves and of course the Australlian kangaroo and silver kookaburra and koala coins. We are primary distributors for the Perth Mint so we can secure allocations at discounted prices. Call us today to find out more about our range of coins. Can I transfer my metal account or gold in storage at any time.
Yes, as long as it was purchased at ABC Bullion. It is your gold. Do you have any hidden fees or charges?
Absolutely not. Everything is made clear up front, and you can read our trading terms here.
When you agree your trade with our friendly staff, we will also discuss freight and insurance costs with you up front (if they apply). Will you buy scrap gold?
Yes. We will assay and refine the gold first, and then pay out on the value of the pure gold received. How much do I have to buy to qualify for free storage?
We offer free storage and replacement insurance from Lloyds of London for all purchases over 1oz (gold, platinum, palladium) and 1kg (silver). ONLY for Secure Bulk Storage or unallocated storage only. Please refer to our storage options page. What happens when I buy gold bullion?After you have an account set up, it is as simple as giving us an instruction to buy or sell your metals. We will keep track of your account and give you a statement at any time you like.
Our daily prices are posted on this website and emailed to our mailing list every day, so it is very easy for you to tell how much you will be paying (or receiving).
If you require physical delivery or if you are sending your gold to a vault, a small fee applies. What is the price of a one ounce gold bar?
Here is our daily pricing information sheet, so you can see the exact pricing right now. Why is the sale and buy-back price different
The difference between our sale and our buy-back prices is called a spread. These prices are different to allow for the different trading and handling costs associated with us selling and buying precious metals. Like any trader, we make a small margin on sales of bullion, and we make a small (theoretical only) margin on bullion we buy back. Why are the larger bars closer to the spot price?
Larger bars get closer and closer to the spot price because the cost of barring (creating and handling) the bar reduces relative to the size of the overall investment. Investing in amounts of gold smaller that 1 oz can become relatively expensive and for investors dealing in amounts under an oz, we recommend unallocated investing, which allows you to take a physical stake in a larger bar at much closer to the spot price. What are your minimum trades?
Our minimum trades in unallocated metals are: 1oz (gold, platinum, palladium) and 1kg (silver) Why are your “buy” and “sell” rates different?
As we are professional metals traders, we are constantly having to adjust our prices according to the market movements and expectations. The difference between buy and sell prices is in order for us to be in a position to cover our transactions costs. If you have any questions about pricing at all, please contact us because our aim is for our pricing to be the most transparent and easy-to-understand in the Australian precious metals industry. Why are your “buy” and “sell” prices not the same as the metal spot price?
This is called a spread and is how precious metal traders make a margin to run their business and to provide the support and logistics services. Does it take long to open a metals account at ABC Bullion?
Not at all. If you can provide the identification we can generally open an account immediately. If you cannot make it into our office, contact us and we will explain how we can quickly arrange for an account to be opened for you. All the details you need are here. What types of metal accounts do you offer?
We offer both allocated and unallocated accounts. Allocated accounts work in full bars only, with you as the specific owner of a given bar. Unallocated bars allow you to own fractions of a physical bar. Although you do not own a specific bar, you still have legal title to the unallocated amount that you own, and it exists physically in vaulted storage.
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| • | Anti-Money Laundering and Counter Terrorism: All cash transactions greater than $10,000 in value must be reported by us to the Australian government. |
| • | Financial Accounts: All new metal accounts are required to undergo the same identity check verification process that is used by banks. This is a 100 point identification system (see here for valid identification types). This information is kept on record under strict security and is not available to government except by subpoena or court order. |
| • | Goods and Services tax: Investment grade bullion is GST exempt (as long as the hallmark is registered with the Federal government, which is the case for all ABC Bullion bars). Unregistered bullion and coins attract 10% GST, which increases your purchase price. |
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Back to top Other forms of identificationPassport and driver’s licences are most commonly used to identify new account holders. Other forms of identification are: |
| • | Birth certificate |
| • | Utilities statement |
| • | A statement from a bank or other financial institution If you have any concerns or wish to check that you will have sufficient identification to reach the 100-point threshold, please call us. |
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Are my personal details kept confidential when I make a transaction?
Yes. All your personal information is encrypted and stored securely at ABC Bullion. We would never share this information with anyone, except as specifically required by law. What is it like to hold gold?
People often get a shock when they first hold gold. It is very heavy - the look on people’s faces when they hold something so small but so heavy. A tiny 1 oz bar is about the size of a dice yet weighs 31 grams. What is white gold?
White gold is actually an alloy of gold and another metal such as palladium or nickel. Why is gold so expensive?
Gold is expensive because there is enormous demand for it driven by its appeal and usefulness in industry. At the same time, it is very rare, expensive and hard to mine and refine. These factors (demand, and supply) combine to create a high price relative to other metals and resources. What if I have special needs?
If you have any special needs at all, let us know and we will do everything we can to help you. Can I buy or sell wholesale?
Yes, we do have a wholesale division where we buy gold scrap or bullion and sell any requirements you may have (many of our customers are jewellers or other traders). How can I become an expert in gold?
The key here is to have some time in the market. There are really no shortcuts. A good way to begin is to watch the market price of gold (subscribe to our daily price email and discussions here). Glossary
We pride ourselves on avoiding technical jargon but, like any specialist field, there are lots of industry terms you will come across. Here are some of the terms you may find used in the world of gold and precious metals.
Useful gold information
Troy Ounce = 31.1035 grams Gold content conversion table |
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Grams |
Troy Ounces | Tolas | Taels |
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| 1.00000 | 0.32151 | 0.0857350 | 0.267172510 |
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