Buying Precious Metals - How are precious metals sold?

May 15, 2022

Buying Precious Metals

With the current market fluctuations, we tend to get a flood of interest, and questions from individuals around buying precious metals such as gold and silver bullion in Vancouver and the surrounding areas. Precious metals, or bullion, have been used for investment purposes for a very long time, and are the metals used in coinage across the world. Some people have been involved in precious metals as investments for many years but we are also seeing new interests as well since the COVID-19 pandemic impacted our global economy.

Gold and silver bullion are traded commodities which are sold through dealers in Canada. Vancouver Bullion and Currency Exchange, VBCE, is a registered Royal Canadian Mint Bullion DNA Dealer and Trader in qualified bullion recognized by LBMA accreditation. This status allows us to buy and sell the highest quality products and those recognized by the public as highly reputable. We have experienced Precious Metals Traders on staff, and Customer Service Live Agents trained and knowledgeable about precious metals.

Market Demand Impacts Value

The demand for precious metals is driven not only by their practical use in industry for jewelry or inputs for manufacturing but also for use in investment portfolios and to store value in changing market conditions. More and more Canadians are looking at gold and silver as a way to reduce their risk by finding alternative investments other than the stock market.

A metal is deemed precious if it is rare and this definition can change for many reasons including more discovery of these natural resources through mining efforts, or through high demand or market value. For example, we have seen an increase in the value of gold soar over the last few years which makes interest from investors increase as well.

As in any market-related transaction, the timing of the purchase is key, our customers share this value themselves best:

Service is good. You can exchange money, buy gold, silver, and platinum bullion even after 2pm Pacific time when Toronto is closed. Scotiabank shuts down at 2pm and can’t get the bullion same day. - Google review - Kaidong W

Precious Metals As Investments

In the article we published last year, What Is The Best Precious Metal To Invest In Right Now? we shared some information on the pros and cons of precious metals as an investment, as well as how to decide which precious metal to choose as an investment. Being an informed investor is key and our Precious Metals traders answer a lot of questions from people considering the options of physical possession of gold and silver as an investment.

How Precious Metals Are Sold

Below is a list of our most frequently asked questions about how precious metals are sold, these popular questions may help to inform you of how people are approaching the decision to invest in gold or silver and how the actual process of making a purchase works:

Q: I’m looking for a particular gold or silver item do you have it? A: Our website lists all of the current items we have in stock. If you’re looking for something not currently listed speak to a live agent. We are currently offering pre-ordering as well for select metals.

Q: Does VBCE offer a storage service? A: Unfortunately we do not. Most people store their precious metals in a safety deposit box or somewhere safe at home.

Q: Do you sell precious metals certificates? A: No we only sell physical bullion, you take physical possession of your purchase upon sale.

Q: Do you think the price of metals is going to go up or down? A: It's impossible to know which direction precious metals such as gold or silver pricing are headed but speak to one of our live agents who is an expert in precious metals to understand what economic news or global events currently happening that may influence the price of metals.

Q: How often is pricing updated on your website? A: The price of metals on our website is live meaning it's constantly changing.

Q: Can I request a particular refiner product such as from the Royal Canadian Mint A: Unfortunately we cannot guarantee specific refinery products. Precious Metals are in such a demand right now it's challenging to keep products in inventory. We offer pre-orders as indicated on our website, our live agents can share more information on the pre-order process when you give them a call. Visit our locations page for details on ways to reach us.

Questions About Purchasing Gold & Silver Bullion

If you’d like to speak to one of our precious metals live agents, they are based in the Vancouver area and you can speak to them directly by phone between the hours of 9am to 5pm, Pacific Time Zone, Monday to Friday at our downtown Vancouver location, in person at one of our four locations, or by email. Our full hours, contact optoins and locations can be found [here].(https://www.vbce.ca/locations)

VBCE has been in business since 1989, learn how VBCE became the leading private foreign exchange and precious metals trading company in Western Canada.