Allocated - Digital Bullion Metal Accounts

Author: Ian Davis - Chief Operations Officer

Published: 14 Aug 2020

Last Updated: 7 May 2024


What Is a Digital Metal Account?

There are one types of metal account with Chards:

  • Allocated - "allocated and segregated metal accounts"

The only requirement is that you open an account with us and pass our due diligence checks that we are legally obliged to carry out. You can then access the website and your online account to top up products or digital balances with all your balances visible in your account area.

If you wish to purchase allocated metals, please follow this link to our vaulted storage page. If you wish to learn more about the various options please read on below.

Buy Digital Gold and Silver on Account

Use the links to buy digital gold and digital silver on account right now at 1% premium over spot. Payment options include bank transfer, debit card, cheque and cash depending on the transaction value.

Allocated Digital Account

Vaulted gold and silver is offered to customers who wish to have specific products allocated to them and stored in their own secure box in our strongrooms. This option is preferred by many of our physical bullion customers as we can take the hassle and cost out of home storage and cover all items on our insurance which is via Lloyds of London.

This type of account is often referred to as an Allocated digital account.

There is another variation on allocated gold and silver accounts and you can read more on our page on "paper gold". This option allows you to buy shares within a larger pool of physical gold - currently Chards do not offer this service as we believe the 2 options cover our investors' need. If you do see value in this option please let us know! 

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 1.2% and 1 ounce silver coins starting from 0%
  • 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:

Allocated - Gold

Live Buy and Sell Premiums

0% VAT


Storage Fees: 0.5% + VAT per annum

No minimum order 

Allocated - Silver 

Live Buy and Sell Premiums

20% VAT on new

Low VAT on pre-owned

Storage Fees: 0.65% + VAT per annum

No minimum order

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

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