FAQ

Who is MyGold®?

MyGold® is a proudly New Zealand based team of bullion specialists. Our family-owned business was established to help investors protect and grow their wealth through gold and silver ownership.

The dedicated team behind MyGold® is made up of active investors who have been involved in gold and silver for over ten years. Our mission is to provide customers the highest levels of service, fastest delivery of orders, sharpest prices on bullion, and the best quality products from only the world’s finest mints and refineries.

Why is MyGold® a better choice?

  • Certification and metal purity guarantee on our products
  • Authorised distributor for the prestigious Perth Mint Australia
  • Wholly and proudly New Zealand owned with 10 years in operation – giving you confidence in receiving your product
  • Orders can be collected in person from our central Auckland location
  • Competitive rates – pay for gold and silver, not for retail store overheads
  • A friendly and professional team of experts committed to providing the best purchase experience
  • We offer an extensive range of top-quality gold and silver bullion products from local and international sources including top quality products exclusive to MyGold®
  • Confidentiality and discretion is assured
  • We package your order with care and deliver to your door via fully insured courier
  • Don’t believe us? Click here to read our extensive customer reviews

Why gold and silver?

The most popular precious metals that people turn to for investment are gold and silver. People traditionally buy gold as a “safe haven” against trying economic times – it is relatively invulnerable to things like economic and even currency-based crises. Whenever the market declines, the national debt increases, inflation occurs or a currency happens to fail, gold offers an excellent level of protection and remains one of the most consistent stores of value available. This is especially true when the “go to” monetary solution of the day is simply to “print more.” When these activities occur, investors turn to the safety of gold and other commodities to protect their wealth.

How does gold and silver bullion preserve wealth?

  • Gold and Silver is an excellent store of value with intrinsic utility
  • Gold is a highly effective method of portfolio diversification that can protect wealth, as a hedge against inflation and the long-term trend of declining fiat currencies
  • The growing instability of the global economy and risk of future world tensions
  • Gold and Silver are finite resources (due to supply and demand)
  • Gold and Silver is something real that you can hold in your hand (if you can’t touch it you don’t own it)

How does the process work?

MyGold® offers a simple 3 step process for investing in gold and silver bullion.

What payment methods are accepted?

We require cleared funds transferred by online bank transfer the same day. Other payment methods we accept include Cash, Eftpos, and PayPal. You can also pay us in NZD, USD and AUD. Please contact us to discuss your individual requirements.

What are your delivery methods?

MyGold® offers different options for delivery depending on your requirements. We deliver precious metals across New Zealand; you may pick up directly at our office in Auckland; or choose fully insured courier shipping. We keep you informed throughout the process.

Can I collect my purchase in person?

Yes, once full payment has cleared, collection is arranged with our team. We do not store gold or silver on site for security reasons. You will be required to present photo ID and sign for your items at the time of delivery. Same-day delivery is available for products in-stock and confirmed in advance.

How long until I can collect my order?

Depending on the type of product and quantity ordered, there may be a small wait to fulfil your order. We endeavour to process orders quickly and keep you informed throughout.

What are 'gold spot prices'?

The gold spot price is the current price at any given moment used to determine the rate for a single troy ounce of gold. The gold spot price is dictated by market speculators, world events, currency values and an array of additional factors. Gold spot price serves as the basis for bullion dealers and gold traders to pinpoint the buying and selling price for a specific gold bar or gold coin. Such prices can be dynamic, changing every few seconds when the markets are open.

When you see the price of gold quoted on live gold charts and spot price websites, it is most commonly quoted per troy ounce in American dollars (USD). However, it is also possible to obtain a gold price quote per kilo or gram.

Click here to read more about gold spot prices and factors that help determine gold prices.

Why is the gold price different from your website?

The gold and silver prices listed on our website are ‘spot prices’ (quoted in USD and NZD). Spot prices are used in relation to pricing of futures contracts of securities, typically commodities. In pricing commodity futures, the futures price is determined using the commodity’s spot price, the risk free rate and time to maturity of the contract (along with any costs associated with storage or convenience). As with all futures, you pay above the spot price for the physical product (mining, manufacturing, storage, insurance, etc). We don’t sell options, futures, contracts, shares, ETF’s, or certificates – only physical gold and silver bullion that you are responsible for storing. For more information on how gold prices work visit our charts and prices page.

What is the current price to buy gold and silver?

You can view live gold and silver ‘spot prices’ on our charts and prices page in NZD/USD.

Price ranges to buy gold and silver products can be found on each product page (in NZD and BTC). For an overview of all types of coins and bars we offer, please click here for gold bullion products, and here for silver bullion products.

How do you calculate your prices?

Gold and silver bullion trade above international spot prices because of the following costs: refining, bar manufacturer, delivery of the bullion and dealer overheads. Some bullion products trade with an additional premium due to being internationally recognised, scarce or simply desirable. MyGold® prices are not set at a specific percentage above spot for these reasons.

Occasionally MyGold® offers special deals on gold and silver bullion so we recommend signing up to the MyGold® Newsletter to be notified immediately of special offers.

Are the gold/silver prices going up?

Past performance can be a good indication of future performance. No one knows the future for gold prices or exchange rates, yet historically gold & silver bullion offers investors an excellent way to diversify and secure their wealth. For more information on how gold prices work visit our charts and prices page.

How much should I invest?

Customers are responsible for assessing and evaluating any transaction in light of their current financial situation, investment goals, and particular needs. The traditional advice from various experts has been to allocate 10% of your net worth to precious metals. However, gold and silver “bulls” are taking positions of 50% or greater. It helps to have a budget in mind because this allows us to present products that fit within your resources. Some clients choose to allocate holdings into precious metals as a type of savings plan. No order is too small or too large.

Do I pay GST on gold and silver bullion?

In New Zealand, there is no GST on the sale of pure gold bars/ingots, pure gold coins, pure silver bars/ingots, and pure silver coins. Bullion products that are not pure gold (99.9%/.999) do incur GST because they are not fine gold. This includes American Eagles (22ct/91.6%), South African Krugerrands (22ct), and British Gold Sovereigns (22ct). Taxes ultimately depend on your country of residence. We recommend you consult a financial advisor for any tax related enquiries.

Where can I store my gold and silver bullion?

MyGold® can suggest a range of options for secure storage of precious metals. Click here for more information on Storage.

How do I know your gold and silver is genuine?

MyGold® mints and supplies only the highest quality gold and silver bullion available. Rigorous quality standards, expert metal refining, and legislative requirements ensure that all products meet or exceed fine gold and silver purity levels. Investment grade gold and silver is considered anything greater than 99.90% pure. You can rest assured that MyGold® products are genuine gold and silver of the highest standard:

  • Fine-silver to a standard of 99.99% purity (99.9% for silver bars)
  • Gold with 99.99% purity International products are backed by the respective Mints and all products sold by MyGold® come stamped with metal type, weight, and purity
  • 1oz Silver Stag & Silver Guardian Bullion Coins are guaranteed to 99.9% fine silver
  • Gold and silver products manufactured overseas are backed by their respective mints, and in the case of the Perth Mint, backed by the Western Australian government

I have other questions, how do I get in touch?

Simply click the Live Chat button below to chat with us now, send us a message using the online form, or call 0800-GOLD-NZ (0800-465-369).

Andrew

MyGold Customer

22h ago

I have just received my purchase from MyGold. I was very impressed with the prompt response to my initial inquiry. My emails were replied to immediately and I was very impressed with the seamless process that Alisson and the team provided for what was a relatively small purchase. I intend to make further purchases from MyGold in the future.

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