Frequently Asked Questions
No, there is no minimum or maximum amount for metal purchases, sales or exchanges.
There is, however, a limit as to how much metal you can buy or sell at a 'locked rate', which is the prevailing rate of exchange between a currency and the metal you are purchasing at the time you place your order. Presently those limits are 2,000 goldgrams, 2,000 silver ounces, 1,000 platinum grams and 1,000 palladium grams per business day, for metal purchases and sales. For metal exchanges (e.g., converting goldgrams directly into silver ounces) the limit is 1,000 goldgrams, 1,000 silver ounces, 500 platinum grams and 500 palladium grams per business day.
These limits can change at any time because of market conditions or other factors. See our FAQ on spot price limits for more details.
A 'business day' for gold is defined as the period starting at 14:30:00 (9:30 a.m. New York time) local London time, on a day the London bullion market is open, until 14:29:59 the next day the London bullion market is open. A 'business day' for silver starts at 11:30:00 (6:30 a.m. New York time) and ends at 11:29:59, and for platinum and palladium starts at 13:30:00 (8:30 a.m. New York time) and ends at 13:29:59. During the trading week, the 'business day' for each metal is a 24 hour period based on the above starting/ending times. A 'business day' beginning on Friday at 14:30:00 is a 72 hour period until the following Monday at 14:29:59.
Large orders above these limits can of course be placed, but we cannot confirm the purchase or selling rate when you place your order. Instead, the exchange rate is based upon the next available London 'Fixing Price' (PM fix for gold, platinum and palladium) after the order is placed.
All large metal orders are generally completed within 1-3 business days. Depending on the market conditions and on the volume of all GoldMoney customers orders, it may take longer to complete your order.
What are the spot price limits for buying and selling precious metals at a confirmed purchase rate?
Gold orders that exceed our spot price limit of 2,000 goldgrams must be received before 9:30am ...
How do I sell my metals and receive funds?
To place a sell order select 'Buy & Sell > Sell' from the menu in your Holding. A ...
Can I exchange metals between vaults?
With GoldMoney you can easily transfer metals from one vault to another without having to sell and ...
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