Faq – jaff8eyprecious

FREQUENTLY ASKED QUESTIONS

What is gold bullion?

We sometimes see the term gold bullion being used exclusively for gold bars, but this is in fact incorrect. Gold bullion is both coins and bars; even rounds or tokens could be classed as gold bullion. It is essentially any gold of a high purity in a form suitable for investment purposes.

What is gold bullion worth?

Gold bullion is worth whatever the gold spot price is at any given time, and how much gold it contains. The gold price fluctuates every two minutes according to various economic and geopolitical factors. The value of gold bullion then also changes with it, and does not have a fixed worth.

What karat is gold bullion?

The karat (or more accurately carat in the UK) of gold bullion will typically be 24 carat. This is pure, 99.99% gold. The London Bullion Market Association (LBMA) sets quality standards, who’s Good Delivery Rules are considered the international regulatory standard for gold and silver bullion.

Some gold bullion coins product are 22 karat/carat. This was a common tradition for older coins, as the addition of copper to the mix helped strengthen the coin, preventing bending or scratching when they were in use.

Are gold bullion subject to VAT?

All investment gold is VAT-free in the UK. Since 2011 VAT has been at a set rate of 20%. The exception to the rule is gold bullion, which is VAT free – both in the UK and the wider European Union. You can rest assured that any gold purchase will be VAT-free at the time of sale, making your money go further.

How to buy?

Please call our Support Team on 020 8080 0442 or email us on info@jaffreyprecious.com

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