Buying Gold
Frequently Asked Questions
Welcome to the Bullion Club FAQ's. Here, you will find answers to some of our most commonly asked questions. Whether you are new to collecting coins or have been a collector for years, we hope that this information will help you make informed decisions about your collecting journey. If you have any further questions, don't hesitate to reach out to our customer service team. We are always happy to assist you with any questions you may have.
It’s ultimately up to you to decide which option is best for you, based on your own needs and goals. That being said, gold coins are often a popular choice for many people in the UK because they are VAT-free (provided they meet certain purity standards, like the coins offered by Bullion Club). Gold has a unique weight and lustre that can’t be matched by other metals. However, silver is often more affordable, so it may be a good option for those looking to start building a collection with a limited budget. It’s important to take the time to consider your options and choose the one that is right for you.
One key difference between bullion and numismatic coins is their age. Bullion coins are typically newer and more recently minted, while numismatic coins are older and often more rare. However, there are a few other factors that differentiate these two types of coins. In general, bullion coins are valued based on their weight and purity, while numismatic coins are valued based on their rarity, condition, and historical significance. Bullion coins are often purchased as a way to invest in precious metals, while numismatic coins are more often collected for their aesthetic or historical value. For more information about the differences between bullion and numismatic coins, you can read more detailed descriptions here.
The term “bullion” refers to both coins and bars made of precious metals, like gold, silver, platinum, and palladium. Bullion bars, or ingots, must be at least 99.5% pure gold in the EU. They can come in various sizes, including the “good delivery” bars used in the wholesale bullion market that can weigh up to 13kg. Bullion coins, on the other hand, must be at least 90% pure by law, although some have a fineness of up to .9999 gold, such as the UK’s Britannia gold coin. Gold bullion coins of this purity are exempt from VAT. You can find bullion coins made of a variety of precious metals, but gold and silver are the most popular choices.
Numismatic coins, also known as “collectible” or “rare” coins, are often of interest to collectors because of their age, rarity, and historical or aesthetic appeal. Unlike modern bullion coins, which can be produced in unlimited quantities, the production of older coins is limited, making them more scarce and desirable. Numismatic coins are often graded by third-party organisations to determine their quality and rarity, which can affect their value. These coins can be worth more than their weight in gold due to their unique characteristics and limited availability. In addition to their financial value, numismatic coins can also provide enjoyment as beautiful objects to collect and admire.
Graded coins are coins that have been evaluated and certified by a professional grading company for their quality, condition, and rarity. These coins are typically more valuable than ungraded coins, especially if they are in excellent condition and well preserved. Collectors often prefer coins in the best condition possible as they retain more of the fine details of the original engraving and are more aesthetically pleasing. Graded coins are assigned a numerical grade on a scale from 1 to 70, with higher grades indicating a higher level of quality. Graded coins are often encased in protective transparent containers to preserve their condition and prevent damage. Once a coin is graded and sealed in this way, its grade is guaranteed and cannot be changed. Graded coins offer collectors a level of confidence and assurance in the quality of their purchase.
When you receive your order, it should come with a list of the contents, including any graded or numismatic coins. These coins will be individually packaged in a tamper-proof plastic case, or “slab,” by the grading company that assessed them. Each coin should have a unique barcode identifier and a description of the coin. If you have any doubts or questions about your delivery, you can always contact us and we will be happy to help you. We take great care to ensure that you receive the correct items and that they are in good condition. If you have any concerns, please don’t hesitate to reach out to us for assistance.