Frequently Asked Questions

Once you confirm your order you have entered into a legally binding contract with Queensland Bullion Company.  As such there is no way to change or cancel your order.  It is essential you understand our Terms of Service prior to confirming a sale with us.  Please feel free to contact us if you have further questions.

You can sell your bullion back to us four different ways:

 

Queensland Bullion Company has transparent and easy-to-use live pricing chats for gold, silver and platinum. When you are selling, you need refer to the Buy Back Price (because we are buying back from you).  Both our Selling and Buy Back Prices factor in all costs associated and is the final amount customers can expect to pay or receive.

 

If we post an order to you, rest assured that it will be fully insured to replacement value.  The courier will be required to take a signature on delivery or, if you are not there to receive it, divert the package to your nearest Post Office for pick up at your convenience.

 

All orders leaving Queensland Bullion Company are fully tracked and insured. If ever your delivery doesn’t make it to your door, please contact us and we will follow up on your behalf.

If you have purchased online and have opted to collect your order from the showroom in Maroochydore, please wait until you have received notice that it is ready for pick up.  Once this notice has been given you can be sure that collection will be a seamless process when you visit us at your earliest convenience.  We are happy to hold your bullion free of charge for up to seven days from issuing notice, after which additional holdings may be applicable.

At Queensland Bullion Company we offer premium custom-built secure vaulting facilities through our subsidiary company, Queensland Bullion Vault.  We are happy to vault investment grade bullion of any brand according to our product offerings.  Find out more about our offerings here.

 

Vaulting fees can be found here. Fees are billed quarterly in arrears. If you cease storing your metals with us, we are happy to produce a pro-rata final invoice at the time of collection.

Absolutely. The security built into our state-of-the art facility enables us to insure the bullion stored in our vault at full replacement value. This gives peace of mind for both individuals and companies alike. It is also critical when storing bullion bought in a self managed superannuation account.

Yes. All of our bullion comes from reputable LBMA accredited refineries where there is a guarantee for Gold (99.99%) and Silver (99.9%). All cast bars sold by Queensland Bullion Company are guaranteed to be at this purity.

The troy ounce is a system of weights used for precious metals based on a pound of twelve ounces as opposed to the traditional sixteen.

A troy ounce is 31.1034769 grams or 0.0311034768 kilograms.  A troy ounce is not a standard ounce. The standard ounce, that is used in the kitchen for example, is also known as the avoirdupois ounce, it weighs only 28.35 grams.

The name of the Troy ounce is derived from the French city of Troyes, a business hub in the Middle Ages.  It is the only measurement still in use of all the metrics originating from this era and is specifically used for measuring precious metals and occasionally gemstones.  However, the troy measuring system has largely been replaced with the Carat system in the world of precious gems and stones.

Historians believe that the merchants of Troyes modelled their monetary system on the weights of their Roman ancestors, who originated the 31.1 gram unit, calling it a “uncia” or ounce, with twelve ounces totalling as a pound.

The standard ounce, that is used in the kitchen for example, is a different measurement again.  Also known as the avoirdupois ounce, it weighs 28.35 grams.

 

One Troy Ounce is equivalent to:

1.097 Standard Ounces

31.1035 Grams

0.0685 Pounds

0.0311 Kilograms

480 Grains

20 Pennyweight (dwt.)

155.517 Carats

When wanting to change your pool allocated bullion to a cast bar or coin, the barring fee is the fee in which it costs for Queensland Bullion Company to make the required change. If you want to sell your pool allocated bullion instead, Queensland Bullion Company will not charge any barring fee.

Spot price is the wholesale price of a precious metal as advertised on international markets. Because it is set by the market, the price changes constantly.  Hence, it is important to check the price of gold, silver or platinum at the time of the sale.  This price does not include any production costs such as refining, manufacturing, transport, insurance, security, barring, storing or retailing fees. These costs must be added prior to a bullion merchant selling to retail investors.  The result is that a premium is added to cover these costs.  So, in order to factor the premium in, when purchasing bullion you do so just over spot price, and when selling you sell just under spot. These prices are called the Sell Price (when we sell to you), and the Buy Price (when we buy back from you).  The difference in prices is called the spread.

We provide transparent pricing by making it available on the Charts & Prices page of our website at all times.  Prices for each product in our extensive range are updated every minute, ensuring we always have accurate figures.

GST is not applicable to investment-grade gold, silver or platinum.  At Queensland Bullion Company all our gold, silver and platinum is investment-grade so there is no GST on these products.

 

However, under the Australian Tax Office ruling, GST may be applicable to any product that is not investment-grade, meaning there are some other metals mixed within it (not completely pure).  An example of such products would be palladium and the African Krugerrand.  Both these products would have a GST component to them.

 

Note also that there will be GST payable on some of the services that we offer. These include but are not limited to transport, insurance, and secure storage.