FAQ
Please refer to this page where we have listed the frequently asked questions and answers for you. Is your question not listed here? Please send us an e-mail.
Frequently Asked Questions:
- 1. Why do investors choose GoldRepublic? What are the advantages of GoldRepublic's trading platform?
- 2. How safe is it to buy precious metals at GoldRepublic?
- 3. Buying precious metals: how much does a kilogram of gold, silver or platinum cost? What are the additional costs?
- 4. What does the spot price mean?
- 5. Is the bullion I buy at GoldRepublic really mine?
- 6. Can I pick up my physical gold?
- 7. Who is my gold, silver or platinum insured with?
- 8. What is the minimum amount for which retail investors can buy bullion through GoldRepublic?
- 9. Can I also save by the month?
- 10. Does GoldRepublic also deliver gold, silver or platinum to your home? What are the costs?
- 11. What does a GoldRepublic buyback guarantee entail?
- 12. Can I pay by cash or credit card at GoldRepublic?
- 13. Can I make an appointment at your office?
- 14. What happens in case of bankruptcy?
- 15. How do I become a GoldRepublic customer?
- 16. What are the fees for opening an account?
- 17. Why do I need to open an account to buy precious metals?
- 18. Can I open a business account with GoldRepublic?
- 19. Can I open an account in the name of my minor (grand)children?
- 20. Can I open an account with GoldRepublic as a minor (under the age of 18)?
- 21. After activating my account, can I buy gold immediately?
- 22. What does "validate my account" mean?
- 23. Do I have to sign a contract to open an account?
- 24. How do I request a new password?
- 25. What is the two-step authentication?
- 26. How do I buy gold, silver or platinum?
- 27. What is the difference between an at best or limit order when buying bullion?
- 28. Can I cancel my order?
- 29. Where will my gold/silver/platinum be stored?
- 30. Are there cost differences in the different storage locations?
- 31. Can I keep my own gold or silver in my own safe?
- 32. Is the gold physically present in GoldRepublic's vault or am I buying gold on paper?
- 33. What is the daily ownership verification?
- 34. What does "precious metal in transport" mean ?
- 35. Can I also cancel my precious metal in transport?
- 36. What is a bar reservation?
- 37. How can I reserve a bar?
- 38. Can I buy or sell precious metals on the weekend?
- 39. Do I have to declare my investment in gold, silver or platinum to the tax authorities?
- 40. Do I have to pay VAT on my precious metals?
- 41. Where can I find my annual statement?
- 42. Do you also have a GoldRepublic app?
- 43. Can I change my email address?
- 44. Can I change my address?
1. Why do investors choose GoldRepublic? What are the advantages of GoldRepublic's trading platform?
Thousands of investors worldwide have chosen GoldRepublic because they can easily buy physical bullion through the online platform. With an online account - which you can open with GoldRepublic for free - you can easily keep a physical bullion portfolio. GoldRepublic's platform is open for trading 24/7, even on the weekend. With GoldRepublic's concept you can own physical bullion and still have the liquidity you are used to, like keeping an account at the bank.
2. How safe is it to buy precious metals at GoldRepublic?
When you buy gold, silver or platinum from GoldRepublic it is immediately stored safely in one of our professional vaults. These are managed by G4S or by Loomis International in Zurich and Frankfurt. GoldRepublic only works with formally recognized and accredited LBMA (London Bullion Market Association) refiners. This means that all our bullion bars meet the quality requirements as set by the London Bullion Market Association (LBMA). Bars that come from members of the LBMA meet the generally accepted quality standards for bullion bars.
We can process orders immediately for you in 99.9% of all cases. If your order is not processed immediately, you will be informed by email about the status of your order. All sold bullion in our vaults is allocated to the customer immediately upon sale, so there is no third party behind the bullion. In addition, GoldRepublic is in the possession of an AFM license, which means that our company is supervised by the Financial Markets Authority (AFM).
3. Buying precious metals: how much does a kilogram of gold, silver or platinum cost? What are the additional costs?
The price of precious metals
You buy precious metals at GoldRepublic at the current market price. The notation for the gold price is in dollars and troy ounces. On GoldRepublic's website you can see the different bullion prices in different formats. The precious metal price is displayed in euro per kilo and in US dollars per troy ounce. Also check our gold price, silver price or platinum price for the current market value.
Additional costs
We charge a small fee for the purchase and sale of precious metals. The price you pay for the various precious metals is displayed as 'you buy' or as 'you sell'. For processing each order we charge a 1% transaction fee, this is a fixed percentage. The only additional cost after purchasing precious metals over our online platform is the annual storage fee, provided you use our storage.
4. What does the spot price mean?
5. Is the bullion I buy at GoldRepublic really mine?
Every quantity of bullion purchased by the customer at GoldRepublic is allocated to the customer. As a customer you automatically receive a message every day about your precious metal allocation, including your bar number. When you place a 'buy order' you initially become the owner or co-owner of a 'standard bullion bar'. Because of this it can happen that your bar number changes. If you would like to have your own bar in the vault, you can choose the option 'reserve bar', which is displayed in your account under the heading 'portfolio'.
Please note that bars with a volume of 100 grams can only be reserved from vault location Zurich.
6. Can I pick up my physical gold?
It is possible to pick up your bullion yourself at the vault in Zurich. Please contact our customer service if you would like to please pick up your gold, silver or platinum yourself.
Please note that a fee may be charged if you wish to pick up your position yourself.
7. Who is my gold, silver or platinum insured with?
8. What is the minimum amount for which retail investors can buy bullion through GoldRepublic?
9. Can I also save by the month?
Yes, you can also save on a monthly basis through the GoldRepublic savings plan. Through our savings plan bullion is automatically purchased for you each month and added to your bullion portfolio. The savings plan is processed on every first business day of a new month and is debited to the specified account by direct debit. Saving through the GoldRepublic savings plan is possible with physical gold, silver and platinum. You will also receive a 50% discount on the transaction fees through the savings plan.
If you also want to use the savings plan, you will receive a 50% discount on the transaction costs with a savings plan.
10. Does GoldRepublic also deliver gold, silver or platinum to your home? What are the costs?
11. What does a GoldRepublic buyback guarantee entail?
12. Can I pay by cash or credit card at GoldRepublic?
13. Can I make an appointment at your office?
14. What happens in case of bankruptcy?
15. How do I become a GoldRepublic customer?
16. What are the fees for opening an account?
17. Why do I need to open an account to buy precious metals?
18. Can I open a business account with GoldRepublic?
Yes, you can open a business account with GoldRepublic.
Please note that when you open a business account, the name of the contra account should match the name of the company you are opening the account for.
19. Can I open an account in the name of my minor (grand)children?
20. Can I open an account with GoldRepublic as a minor (under the age of 18)?
21. After activating my account, can I buy gold immediately?
22. What does "validate my account" mean?
23. Do I have to sign a contract to open an account?
24. How do I request a new password?
25. What is the two-step authentication?
This is an additional security code while logging into your account. You can set up the two-step authentication by downloading the Google Authenticator app and scanning the bar code of your GoldRepublic account. If you have scanned the barcode correctly, you will now always have to enter an additional security code when logging in, using the code generated by the Google Authenticator app. The app can be installed with a smartphone via the Google Play store, the App store and the Microsoft store. If you lose your phone and cannot log in anymore, please contact our customer service.
To set up the two-step authentication, you must first be logged into your GoldRepublic account. The instructions to set the two-step authentication can be found under 'settings', then you will see the block 'TWO-STEP AUTHENTICATION' at the bottom right.
26. How do I buy gold, silver or platinum?
You can easily buy gold, silver or platinum through the GoldRepublic platform by placing a buy order. You can pay for your order by iDeal while it is being sent out, or you can transfer the amount before you enter an order by iDeal or by bank transfer. After an order has been executed the purchased position will be added to your portfolio which can be managed using the GoldRepublic account.
Please note that an order can only be placed when you have a validated account at GoldRepublic.
27. What is the difference between an at best or limit order when buying bullion?
28. Can I cancel my order?
29. Where will my gold/silver/platinum be stored?
30. Are there cost differences in the different storage locations?
31. Can I keep my own gold or silver in my own safe?
32. Is the gold physically present in GoldRepublic's vault or am I buying gold on paper?
33. What is the daily ownership verification?
The daily property verification is the message you receive each day as proof with the assigned bar number(s) on it.
Please note that if your bullion is in transit and being processed in your portfolio, this position may not appear on your property verification. It takes one business day for this to show up on the property verification as well.
34. What does "precious metal in transport" mean ?
35. Can I also cancel my precious metal in transport?
36. What is a bar reservation?
37. How can I reserve a bar?
As a GoldRepublic account holder you can reserve a bier yourself by logging into your account. Under the menu section 'my account' you will find two buttons under the block 'PORTFOLIO', click on the button 'RESERVE BAR'. Before you can reserve a bar you must first have a bullion position in your portfolio.
See our fees page for a list of bar sizes that you can reserve.
38. Can I buy or sell precious metals on the weekend?
39. Do I have to declare my investment in gold, silver or platinum to the tax authorities?
An investment in investment precious metals must be declared in your tax return. An investment in precious metals belongs to box 3: savings and investments. For this you need the annual statement, which you can find in the menu under 'statements'.
Consult your (tax) advisor if you have any further questions on this subject.
40. Do I have to pay VAT on my precious metals?
41. Where can I find my annual statement?
The annual statement can be found in the menu bar under "statements". In the grey block, you can use the drop-down menu -via the arrow '˅'- to view and download the annual financial statement.
You can view & download the annual statement by clicking on the orange text 'download this statement'.
42. Do you also have a GoldRepublic app?
43. Can I change my email address?
44. Can I change my address?
Yes, you can change your address but you cannot do this yourself in your account. Due to security reasons, we ask you to send us an email about this.
Please feel free to send us an email to klantenservice@goldrepublic.com describing the following:
- The old address
- The new address
- An attachment with a copy of a utility bill (fixed bill such as a utility bill or water bill) on which we can clearly read the new address and your name. The name on the statement must match the name on the GoldRepublic account.
Other questions: