Why are your Gold bars and coins cheaper than some jewelers and online retailers?

“Why are your Gold bars and coins cheaper than some jewelers and online retailers?” “Are they pre-loved or defected items?” “What are the differences?” These are questions that we often hear from our retail clients. Today, we will be sharing some information with you on the questions commonly asked by our retail clients, especially when visiting us for the first time:

1. It may occur to you that the difference in the prices offered by us and others within the same industry (jewelers, bullion dealers, online retailers, etc.) can be quite vast. Well, this is because a mark-up is included in the products offered by traditional jewelers as it involves crafting and design of jewellery. Most clients who visit traditional jewelers are usually looking for gifts and are willing to pay more for the jewellery piece with the design they adore. In contrast, clients whom purchase from authorized bullion dealers like GoldSilver Central are mostly Precious Metals investors. Therefore, the prices we offer are competitive, as we understand that all physical items are priced at Spot + Premium, and our mark-up is actually the premium! Essentially, premiums are also the cost of fabricating and shipping of the items from the refineries to our retail store. One of our clients shared that they had managed to save more than S$300 by purchasing a Canadian Maple Leaf Gold Coin 1oz from us as compared to purchasing from a jeweler!

2. LBMA accredited refineries and mints such as (but not limited to) Argor-Heraeus, Austrian Mint, TianXinYang, Perth Mint, and the Royal Canadian Mint had authorized GoldSilver Central as the authorized distributor of their bullion products. Having had built a good working relationship with the refineries and mints had allowed us to enjoy better premium rates, and we are then able to sell at a lower price to our clients. Other sellers who are not the authorized distributor may had obtained the bullion from a wholesaler or even a 3^rd party, incurring higher costs on top of the premium, which is also why our prices are more competitive compared to other retailers/sellers.

We hope the above sharing had answered your question as to why we are able to offer products with attractive premium.

Do connect with us via a call at +65 6222 9703 or email to enquiry@goldsilvercentral.com.sg to find out more about physical bullion purchase.

Evonne