Premium Amounts and Spot Prices

Welcome back to our series on GMRgold.com - A short series of videos that will explain everything you need to know about us as a company and our culture. Make sure you catch all the videos in this series to get a full understanding of who we are.

This is the fifth video in this particular series. We have more series on other important precious metals topics on our website, as well on our video channels.

Let’s continue…

Will you lock in at a premium amount over the spot price on the phone and commit not to increase the premium or mark up?

Some dealers will exploit the potential benefit of trying to sneakily increase the premiums they charge in order to make a couple extra bucks. They will give you a generic "about $50 over spot on that gold coin" answer on the phone and you then arrive at the office to pick up your gold and the premium has mysteriously risen to $63 over spot.

You will never experience this with GMRgold.

Because we operate on a volume basis, it is in our interest to cultivate solid business relationships with as many clients as possible. Having satisfied return clients is our main goal. We are committed to integrity in all areas of our business and pricing is no exception. We will lock in the premium amount over the spot price with you and we commit to that specific dollar amount.

You can rest assured that no matter what the spot price moves to when confirming the transaction, you will only pay the premium amount over the spot price that we originally quoted you on the phone.

How much does your company make on transactions or mark up the products they sell?

The bullion business is a very low margin, high volume business. Margins normally range from 1% on the largest trades to 4% on the smallest trades. Numismatic coins on the other hand retain a margin of 15% to 45% or more, depending on demand, availability and buyer motivation.

Is my gold and silver fully insured while in transit?

Believe it or not, there are some dealers that will not insure their shipments or only partially insure the value of the metals they are shipping. With GMRgold you can rest assured that ALL items are FULLY insured at declared market value while in transit. Once you sign for the items from the carrier they are no longer under our insurance policy and become your responsibility.