How Our Pricing Works
The prices that appear on our website are based on ‘SPOT’ price. You will see the prices on our website change every 30 seconds; this is to ensure you are always paying the most accurate price. The SPOT price that appears on the right hand side of your screen will, by default, be shown in troy ounces (e.g. £1500.00/oz). You can change this to be shown in grams if you prefer. A troy ounce is 31.1035 grams.
You will notice that the prices that you are paying will be more than the SPOT price. This is because the SPOT price is the market rate for precious metals. Charges are then added on top of the SPOT price. These charges will include: mining costs, refining charges, production, design, packaging, shipping and margins. Unfortunately no one can buy physical precious metals at the SPOT price.
When making larger orders you may notice the price you are paying is based on the next available ‘fix’. The fix is set by the LBMA and is a price that is used by precious metal dealers, institutions and banks when making purchases. Gold has two fixes a day; a morning fix (approximately 10:30am) and an afternoon fix (approximately 3pm). These are used to ensure that both the buyer and seller of a precious metal know the exact price without having to refer to the other party. Silver has one fix a day at approximately 12:00pm.
If you have any questions regarding our pricing, please feel free to contact our office by telephone on 01902 623 259 or by email on [email protected].
