Unallocated and Allocated - Digital Bullion Metal Accounts

Unallocated Digital account

A Unallocated digital account is commonly referred to as an "unallocated metal account".

This means you are purchasing a number of troy ounces of silver or gold without specifying the design, form, manufacturer etc therefore paying low premiums, avoiding storage costs and any delivery charges for the time you hold the metal.

Unallocated digital accounts can be offered to customers wishing to pre-fund larger purchases or to invest in gold and silver before making a decision on what coin or bar to buy. Customers can even sell back to us and never take physical delivery.

Benefits of Using Digital Metal Accounts With Chards

Customers may find various uses for opening a metal account with us:

• Pre-funding a larger future deal by making multiple smaller payments which is often referred to as "dollar-cost averaging*
• Treating the accounts as a savings account by making frequent deposits from surplus wages, savings or investments.
• Gaining exposure to the metal market without incurring the costs associated with the purchase of a specific item, postage or storage. We will always recommend transacting into physical bullion as we believe this to be the superior choice when investing in metals.
• Very low premiums - our digital gold and digital silver come in at a 1% buy premium and you can sell back to us at 100% of spot making the buy-sell spread a narrow 1%. For vaulted gold and silver, you pay the live premium on the day with 1 ounce gold coins prices starting from 1.65% and 1 ounce silver coins starting from 20%
• We manage our whole inventory and storage facilities which are insured by Lloyds of London. There are no further third-party risks and the arrangement is a simple two-party agreement between you and a bullion dealer with over 55 years experience.
• Easily convertable to physical metals which can then be delivered to your door, fully insured.
• An easy to use platform for digitally-savvy investors.

*According to Investopedia:

"Dollar-cost averaging (DCA) is an investment strategy in which an investor divides up the total amount to be invested across periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase. The purchases occur regardless of the asset's price and at regular intervals; in effect, this strategy removes much of the detailed work of attempting to time the market in order to make purchases of equities at the best prices. Dollar-cost averaging is also known as the constant dollar plan."

How Much Does It Cost?

We are very competitive on pricing and regularly carry out price comparisons of our services so if you do find cheaper options please let us know! Here is a summary of the various types of metal accounts and associated pricing:

Using Your Metal Account Balance

You can use the balance of one or multiple accounts to transact into physical bullion and/or buy other services from Chards. In due course online customers will be able to use the balance as a payment option at checkout and in the short term we ask you call our team on 01253 343081 to arrange a deal.

At checkout your balances will be converted into a live monetary amount and you can use part or all of the balance as discount against a purchase. Please note the live value will be re-calculated at the final step of checkout and deducted from the total cost of the transaction and confirmed by a receipt and then an acceptance email once our team check the order.

Physical metal can then be shipped to your preferred delivery address or once again stored on site here in Blackpool and added top your account.

Can I sell My Metal Account Balance?

You can sell any metal you have on account back to Chards. Please review the table in "How Much Does It Cost?" for more information and selling premiums. Alternatively, please call 01253 343081 and one of our team can provide more information.

Taking Delivery of Digital Gold and Silver

You can opt to take delivery of digital gold and digital silver by providing 30 days notice by email, telephone call or in person. If you require Chards to decide on a physical product, a delivery premium of 5% will apply as we spend time and resource arranging this. We would recommend you transact into lower premium secondary market bullion items as when these are in stock the premiums tend to be lower. Postage prices are applied on top of the delivery premium and you can follow this link to our delivery charges page.

For bullion stored overseas such as our VAT-Free products, it is important to point out that taking delivery or collecting in-person will include handling fees, custom clearance charges and even tax liabilities.

Again, please get in touch on 01253 343081 if you wish to discuss options prior to making a purchase.

Full Terms and Conditions

Full Terms of Sale for Physical Bullion - https://www.chards.co.uk/info/terms-of-sale

Full Terms of Storage - https://www.chards.co.uk/info/storage-terms-of-sale

Full Terms of Purchase (selling to Chards) - https://www.chards.co.uk/info/terms-of-purchase

Full Terms for Unallocated Gold and Silver - https://www.chards.co.uk/info/metal-account-terms