FAQ's

 

Here at Chards we have been offering bullion and numismatic services for over 50 years. Here are the answers to some common questions we get asked every day!

Contents

  1. What is Gold Bullion?
  2. What is the Cheapest Gold You Sell?
  3. How Do I Know Which is the Best Deal?
  4. Are Bullion Products VAT-free? 
  5. What is Grade C?
  6. Should I Buy Coins or Bars?
  7. Which is Better - 22ct or 24ct?
  8. What is "Sourced to Order"?
  9. How Do I Invest in Silver?
  10. What is the Special Scheme?
  11. Do I Pay VAT on Silver?
  12. What is Grade C?
  13. How Often are Your Prices Updated?
  14. What Do I Do if I can't Find What I Want on the Website?
  15. Do I Have to Sign Up For a Customer Account?
  16. Do You Send My Details to HMRC?
  17. Why Do I Need to Provide Identification When I Buy Bullion?
  18. Do I Get a Certificate with My purchase?
  19. How Do I Know if My Order Has Been Processed?
  20. Is There a Minimum or Maximum Amount Required to Place an Order?
  21. Do You Guarantee a Buy Back Rate?
  22. What is Your Refunds Policy?
  23. How Do I Sell My Items?
  24. Can You Tell Me How Much My Coin Is Worth?
  25. Can I Fix a Price?
  26. Do You Charge Commission?
  27. What Items Do you Buy?
  28. Can I Have Payment into Somebody Else's Account?
  29. How Much is Delivery?
  30. How Will I Receive My Purchase?
  31. Can You Tell Me When My Delivery Will Arrive?
  32. Can I Have My Order Delivered to an Alternative Address?
  33. Do You Have a Showroom We Can Collect From?
  34. Do You Deliver Outside of the UK?
  35. Do You Offer Free Delivery?
  36. Can I Pay Online by Debit or Credit Card?
  37. Do You Accept Any Other Payment Options? 
  38. What is 3D Secure/Authentication on Card Payments?
  39. Why is My Payment Not Going Through?
  40. Can Someone Pay on My Behalf?
  41. What Currencies Do You Accept?
  42. Do You Accept Bitcoin?
  43. Can I Store Bullion?
  44. Can I Store Jewellery & Numismatic Pieces?
  45. Do You Identify Coins?
  46. Do You Grade Coins?
  47. How Do I Know If I Have an Error Coin?

We have split our FAQ's up into the following sections you can click direct through to them or navigate using the "contents" section. Please click on the following links to view more FAQs - you can read more about Investing in GoldInvesting in Silver, Buying from ChardsSelling to ChardsDelivery, PaymentStorage and Coins in Your Change (Circulation Coins).

Investing in Gold

What is Gold Bullion?

It is a metal which is bought and sold close to it's metal value. They can come as bars or coins and in different finesses of usually more than 900/1000.

What is the Cheapest Gold You Sell?

Our lowest premium coins are generally "Our Choice" or "Best Value" products. Generally, the heavier the item or larger the quantity means you can take advantage on lower premiums over the spot price of gold. Our cheapest item would probably be a 1gram gold bar. Most customers find that the best buys are one ounce coins. Read our blog for more information.

How Do I Know Which is the Best Deal?

You are best comparing premiums to find the best deals rather than the overall price as the live price of gold can fluctuate as you compare product to product. We have put together an easy comparison for one ounce coin here and comparisons on sovereigns here

Are Bullion Products VAT-free? 

As of 1 January 2000, investment gold is NOT subject to VAT throughout the EU. Silver bullion products are subject to VAT at the current standard rate of 20% along with non-investment gold such as medallions and platinum and palladium bullion. For more information, click here.

You may be subject to local VAT rules so please consult your local HMRC office for more details. 

What is Grade C?

Grade C is an item which is too good for scrap but not good enough to sell as bullion. We would recommend using Grade C items in jewelleryAlthough they may have lower premiums over spot then their bullion counterparts, we will most likely offer a lower buy back price. Please read our blog for more information.

Should I Buy Coins or Bars?

It is personal preference. However, bars are not exempt from capital gains tax, where as some coins are. Some bars carry lower premiums than coins, but coins may result in a higher buy back price than bars. For an in-depth explanation, please read our blog.

Which is Better - 22ct or 24ct?

Generally, it does not matter as you are paying for the weight of gold. A one ounce 22ct gold coin has the same intrinsic value as a one ounce 24 carat gold coin. It is personal preference. Some 22ct gold coins are more durable than 24 carat gold coins. Our blog explains this is more detail.

What is "Sourced to Order"?

As we constantly buy and sell bullion from the secondary market we may experience times where demand is higher than supply. When this happens, bullion items go to a "sourced to order" status. The delay can range from days to months. Be assured, we will provide you with a weekly update on the progress of your order. We like to say it's free storage as you can sell your items, (without physically receiving them) at any time based on the live price of precious metal at the time you wish to sell. We honour the price at the time you place your order so even if gold was to rocket you would not pay any more when they arrive into stock. Please note that when you place an order for bullion, time is not of the essence of the contract due to events out of our control. You can find more by reading our blog.

Investing in Silver

How Do I Invest in Silver?

It's as simple as finding the best buy within your budget, purchasing online or in our showroom then choosing to collect your investment or have it delivered. You can read why you should invest in silver here.

What is the Special Scheme?

The special scheme applies to second hand or pre-owned silver, platinum and palladium coins and bars and non investment gold. It allows VAT only to be charged on the sellers profit margins and not the overall selling price. Sometimes second hand items can be a better buy for when you come to sell as a personal customer because you can not charge the buyer VAT. 

Do I Pay VAT on Silver?

You will pay VAT on all silver. New silver bars and coins are charged at the current VAT rate on the final selling price. Second hand or pre-owned silver has VAT charged on the seller's profit margins and is sold on a special scheme. 

If you are based outside the EU and wish to purchase silver, palladium or platinum you are eligible to pay VAT at 0%. Please contact us on +44 1253 343081 and we will place you order without VAT.  

What is Grade C?

Grade C is an item which is too good for scrap but not good enough to sell as bullion. We would recommend using Grade C items in jewelleryAlthough they may have lower premiums over spot then their bullion counterparts, we will most likely offer a lower buy back price. Please read our blog for more information.

Buying from Chards

How Often are Your Prices Updated?

Nearly all of our prices are based on the live price of precious metals. This is updated every 15 seconds. Once an item is in your basket, the price is locked for 10 minutes. Prices may also change due to stock and demand so when you see the price is right take the chance to buy. 

What Do I Do if I can't Find What I Want on the Website?

If you can't find an item on our website, try using our search bar. If you still experiencing troubles please live chat us or phone us on 01253 343081. We might have it in stock but not on our website. If we don't have it in stock we can add you to our Wishlist to be contacted when an item becomes available. 

Do I Have to Sign Up For a Customer Account?

No. You may place your order as a guest. However, for security reasons we do not allow anonymous transactions.  

Do You Send My Details to HMRC?

We do not actively send any information to HMRC unless requested. We are legally obliged to take copies of identification on orders of £5000 and £10,000 in a rolling12-month period. For more information please read our payment and identification page along with our Privacy Policy

Why Do I Need to Provide Identification When I Buy Bullion?

For orders over £5000 we always ask for identification. I think you will agree that if we didn't check when large amounts of money are transacted we may run into problems. Its a belt and braces approach we like to follow to ensure every transaction is as legitimate as possible.

Do I Get a Certificate with My purchase?

We will always indicate where a product is sold with a certificate and where one is supplied without one. If you are interested in pure investment options, i.e. metal content, then the additional prices for certificates may not be your fancy. Great deals can be found on products that are missing their original certificate but still hold the value with the markets.  

How Do I Know if My Order Has Been Processed?

You will receive an email confirming that you order has been placed. If there are any issues with your order, we will contact you as soon as possible. You will receive another email confirming your order has been despatched. 

Is There a Minimum or Maximum Amount Required to Place an Order?

There is no minimum or maximum amount needed to purchase. However, online orders are restricted to £100,000. If you wish to invest more, please contact us on 01253 343081. 

Do You Guarantee a Buy Back Rate?

Put simply, yes and no! Firstly, yes we always buy and sell gold, silver, platinum and palladium. We even buy scrap gold and jewellery. We offer a price for everything so get in touch if you wish to sell to us! We pay some of the best rates in the market. Secondly, no we do not guarantee a buy back rate but instead offer a percentage of spot price on the day. 

What is Your Refunds Policy?

Investment coins and bars do not qualify for refunds as they are based on the live price of precious metals. All products will clearly state whether they are investment or not below the imageIf you are unsure whether your item is an investment product, please contact us on 01253 343081. 

Please note that all investment products are exempt from the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 and therefore customers do not have the right to cancel their order once the order has been accepted.

If customers no longer wish to go ahead with their investment purchase, there is an option to sell the products back to Chard (1964) Ltd instead. You can view our current buy back prices here.

Selling to Chards

How Do I Sell My Items?

You can send your items to us by insured delivery or visit us at our Blackpool showroom. Once we have received your items we will confirm our offer price. For more information, read our sell to us page. 

Can You Tell Me How Much My Coin Is Worth?

We will be happy to make an offer on all coins. All offer prices are based on the live price of precious metals, our stock and demand. 

We have a lot of information about various UK coins on the following blogs including what we will pay for them:

Please review the above blogs prior to contacting us as we will only tell you the information contained within them. If you are still unable to locate information you can always use live chat or call us on 01928 343081. Alternatively send an email to info@chards.co.uk.

Can I Fix a Price?

The price is fixed at the time we receive your items. All prices quoted via the website, over the phone and via email are all indicative prices based on our buying premium, our stock levels  and the live price of precious metals at the time you wish to sell. 

Do You Charge Commission?

We do charge commission on anything we buy. The price we quote is the price you will receive. Charges will only be applied for CHAPS payments. 

What Items Do you Buy?

We will make an offer on everything, it's up to you to decide whether you are happy to sell. 

Can I Have Payment into Somebody Else's Account?

We do not offer 3rd party payments. If you wish to have payments split over more than one person we will need the required identification. The sale will go under the name of every individually involved in the transaction. There may be a charge if you wish to have one sale split into multiple bank accounts owned by you. 

Delivery

How Much is Delivery?

Click here to read our delivery page in full

Orders over £60 - Fully Insured Delivery.

  • Within the UK and BFPO - Royal Mail Special Delivery. Items sent via this method will normally arrive by 1pm the next working day. Delivery starts from £9.
  • International - Royal Mail International Signed / Royal Mail International Tracked / Royal Mail International Tracked and Signed For. Items sent via this method will normally arrive between 3-7 working days. Delivery starts from £15.

Orders under £60 - second class (with optional special delivery option)

  • Within the UK and BFPO - Royal Mail 2nd Class. Your order will normally arrive within 2-3 working days. Delivery starts from £3.50.
  • International - Royal Mail International Standard. Your order will normally arrive between 3-7 working days. Delivery starts from £6.

If you wish to have your order sent by an alternative method (e.g., Saturday Guaranteed) please contact 01253 530691 for more information. Please note, we will not dispatch high value orders over a bank holiday weekend.

For international delivery, please check with your local customs office for more information on custom duty and taxes.

How Will I Receive My Purchase?

All orders, except where it is unavailable, are shipped via Royal Mail. Any special delivery parcels are fully trackable via the number provided and require a signature upon delivery. All parcels are covered by our insurance from dispatch until delivery and signature. After we receive signature we accept no liability for the goods even if this signature is someone else than the billing contact.  

Dispatch emails will keep you up to date with your order progress and we also communicate tracking numbers via email. 

If no one is available to take receipt of your delivery your parcel will be held at a local depot for you to collect. Please don't delay in picking up your parcel as it will be returned to us and we will have to charge again for delivery.  

Can You Tell Me When My Delivery Will Arrive?

Our order processing system will send you a dispatch email on the day we print the shipping label. You will receive your parcel the following day. It is hard to provide timings as this can vary depending on your distance from a depot, general location in the UK, weather and traffic conditions. If you are an international customer, it can take some time before local customs in your country of residency process and release your package. 

All orders placed before 1pm will be despatched the same day if in stock. 

Can I Have My Order Delivered to an Alternative Address?

Only orders paid for by bank transfer can be despatched to an alternative address. All debit card orders must be sent to the billing address of the payment card.  

Do You Have a Showroom We Can Collect From?

Yes, you can collect your goods and it is available with no further charge or admin fee! Our office is in Blackpool and the address is 32-36 Harrowside, Blackpool, FY4 1RJ, (Sat Nav postcode - FY4 1LY). You can arrive without appointment between 9am and 4:30pm Monday to Friday 24 hours after placing an order. If the collection of your order is urgent you can always phone us on 01253 343081 and we can advise you whether a same day option is available. 

All of our stock is held in secure vaults on site and you can view our entire product range if you wish to!

Do You Deliver Outside of the UK?

Yes, we can deliver anywhere in the world. We try our best to use Royal Mail International but where this is not available we have a range of other couriers at our disposal. Shipping may be more expensive or take longer and we can advise you on this if needed. We do ask you check local legal status and custom rules for shipping gold and silver as in some countries we may require a signed disclaimer. 

Do You Offer Free Delivery?

We may offer free delivery for short periods on special offer items. We believe that companies that offer "free" postage tie the cost into their selling price making it postage inclusive. As we have a large customer base who wish to collect their investment, we made the decision to add on postage so customers who collect do not pay the delivery prices. For more information read our blog 

Payment

Can I Pay Online by Debit or Credit Card?

We accept online payments with debit cards up to the value of £100,000 per transaction. We no longer accept credit cards, please see our blog on rip off fees for more information! Click here for more information.

Do You Accept Any Other Payment Options? 

Yes, we offer the following:

  • Bank Transfer
    • Bank transfer payments must be made immediately following completion of your order. Failure to do so may result in the prices being recalculated and an administration fee being charged. Please use your name as a reference as we often receive payments for similar amounts.

    • Please note that orders paid via bank transfer will never be despatched on the same working day due to the high risk of fraud.

  • Cash
    • We are happy to accept cash for callers to the showroom and via post.

    • EU regulations limit us to accepting €10,000 (or equivalent) cash from any one person (or person associated with them) in a five year period.

  • Cheque
    • Cheques must be posted first class the same day you place your order. Failure to do so may result in the prices being recalculated and an administration fee being charged.

    • We allow a minimum of eight working days for UK cheques to clear and six weeks for cheques drawn on an overseas bank.

What is 3D Secure/Authentication on Card Payments?

When you use our site we try to implement as many security checks as possible to ensure your details are safe and protected from any fraudulent activity - we do not accept payment without this check. 3-D Secure/Authentication is an additional layer of security for online credit and debit card transactions that requires a further password in order to checkout online. Initially introduced by Visa under the name of Verified by Visa, 3-D Secure has also been adopted by MasterCard as MasterCard SecureCode. This program has been adopted across the world by many leading banking and financial institutions. 

Why is My Payment Not Going Through?

Due to the high value products that we sell, the details that you input must be exactly how they appear on your billing statement. If they do match and you are still having trouble, please contact us on 01253 343081.

Can Someone Pay on My Behalf?

Unfortunately, we do not accept 3rd party payments. All orders must be in the name of the person paying. 

What Currencies Do You Accept?

We accept Sterling, US Dollars and Euros. For more information, please read our payment and identification page.

Do You Accept Bitcoin?

We currently do not accept Bitcoin. However, if this is of an interest to you please let us know. We welcome all feedback.

Storage

Can I Store Bullion?

Yes, and at very competitive prices too; 0.05% for gold and 0.06% for silver. For more information, please read our storage page.

Can I Store Jewellery & Numismatic Pieces?

We do not currently offer this service. If it is something you may be interested in, please let us know. We welcome your feedback. 

Coins in Your Change (Circulation Coins)

Do You Identify Coins?

We do offer the service to identify coins. If you would like this as an official document, we may charge a fee. 

Do You Grade Coins?

We do grade coins but do not currently slab coins. We can supply you with a document by us stating the grade. Please note, we are very conservative with our grading, therefore we may differ from other numismatists. For more information on grading please read our blog.

How Do I Know If I Have an Error Coin?

We would recommend contacting The Royal Mint. They will be able to verify your coin. However, most circulated coins are minted in the millions if not billions, so it is not uncommon for there to be errors. If your coin as a "unique" error, then a collector who specialises in error coins may be willing to pay more than face value.