Physical Gold Terms and Conditions
Terms & Conditions
Please read the following important terms and conditions before you buy anything on our site.
This contract sets out:
your legal rights and responsibilities
our legal rights and responsibilities, and
certain key information required by law
In this contract:
We, us or our means Physical Gold Ltd, and
You or your means the person using our site to buy goods from us
certain key information required by law
If you don’t understand any of this contract and want to talk to us about it, please contact us by:
e-mail firstname.lastname@example.org which will be responded to Monday to Friday: 9am to 5pm, and
telephone 020 7060 9992 which will be answered Monday to Friday: 9am to 5pm. We may record calls for quality and training purposes.
Do you need extra help?
If you would like this contract in another format (for example: audio, large print, braille) please contact us using the contact details at the top of this page.
Who are we?
We are registered in England and Wales under company number: 06776948 Our registered office is at: 63/66 Hatton Garden, London EC1N 8LE Our VAT number is: 986114890
Our Goods comprise precious metals which should be considered a long-term investment over at least 3 years.
Our Goods are not covered by the FSCS compensation scheme.
You should not borrow money to invest in our goods.
We do not provide investment advice and we make no representation regarding your ability to profit, or otherwise, from purchasing our Goods.
We accept no liability for any loss you may suffer as a result of your decision to purchase our Goods.
You acknowledge that the market rate for gold and silver can go down as well as up.
The purchase price for our Goods is inclusive of the bid/ask spread.
It is your responsibility to seek your own independent legal/financial advice.
1.1 If you buy goods on our site, you agree to be legally bound by this contract.
1.2 This contract is only available in English. No other language will apply to this contract.
1.3 When buying any goods, you also agree to be legally bound by:
1.3.1 our Website Terms and Conditions
1.3.2 extra items which may add to, or replace some of, this contract. This may happen for (by way of example and without limitation) security, legal or regulatory reasons. We will contact you to let you know if we intend to do this by giving you one month’s notice.
1.3.3 Specific terms which apply to certain goods. If you want to see these specific terms, please visit the relevant webpage for the goods.
1.3.4 All these documents form part of this contract as though set out in full here.
2. Information we give you
2.1 By law, the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 say that we must give you certain key information before a legally binding contract between you and us is made.
2.1.1 If you want to see this key information, please click on the ‘View Product’ button to find specific product key information.
2.1.2 read the Confirmation Email (see clause 2.3)
2.1.3 contact us by using the contact details at the top of this page
2.2 The key information we give you by law forms part of this contract (as though it is set out in full here).
2.3 If we have to change any key information once a legally binding contract between you and us is made, we can only do this if you agree to it.
3. Ordering goods from us
3.1 Below, we set out how a legally binding contract between you and us is made.
3.2 You place an order on the site by clicking through the ‘buy’ process on our Website. Please read and check your order carefully before submitting it. However, if you need to correct any errors you can do so before submitting it to us.
3.2.1 When you place your order at the end of the online checkout process (eg when you click on the ‘Buy now’ we will acknowledge it by email. This acknowledgement does not, however, mean that your order has been accepted.
3.2.2 Prices stated on our website are ‘live’ and may fluctuate until the moment that you order.
3.2.3 We may contact you to say that we do not accept your order. This is typically for the following reasons:
the goods are unavailable
we cannot authorise your payment
you are not allowed to buy the goods from us
we are not allowed to sell the goods to you
you have ordered too many goods
there has been a mistake on the pricing or description of the goods
During times of severe market volatility
3.2.4 We will only accept your order when we email you to confirm this (Confirmation Email). At this point:
a legally binding contract will be in place between you and us, and
we will dispatch the goods to you
3.3 If you are under the age of 18 you may not buy any goods from the site.
3.4 Once you have placed an order there is no right of cancellation under the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013 due to the fluctuating nature of the precious metals market.
4.1 We use Royal Mail or other such courier service to deliver our goods. If you want to see your delivery options, visit our delivery/storage webpage before you place your order.
4.2 The estimated time for delivery of the goods is set out in the Confirmation Email (see clause 2.3).
4.3 If something happens which:
is outside of our control, and
affects the estimated date of delivery
we will let you have a revised estimated date for delivery of the goods.
4.4 Delivery of the goods will take place when we deliver them to the address that you gave to us.
4.5 All orders will be deemed delivered when signed for by any person at the delivery address or confirmed as delivered by our couriers. You must satisfy yourself before requesting any delivery that this will be secure as any loss incurred after the delivery is signed for at the address or confirmed as delivered by our couriers will be your liability. This may particularly be a risk for you if you live in a house of multiple occupation or you choose delivery to a work address.
4.6 Unless you and we agree otherwise, if we cannot deliver your goods within 30 days, we will:
let you know
cancel your order, and
give you a refund
4.7 If nobody is available to take delivery, please contact us using the contact details at the top of this page.
4.8 You are responsible for the goods when delivery has taken place. In other words, the risk in the goods passes to you when you take possession of the goods. If the goods aren’t described, you must notify us within 24 hours by calling 020 7060 9992 or emailing email@example.com.
4.9 You should not accept or sign for any delivery where the package has been damaged, resealed or tampered with and instruct the courier to return the package to us. We cannot accept any liability for loss once a package has been accepted by any person at the delivery address.
4.10 We may deliver your goods in instalments.
5.1 You will be responsible for paying the semi-annual storage fee in advance at the following rate:
GOLD: 0.5% of the value of the Gold (as per our invoice) which you have purchased for the first 6-month period, subject to a minimum semi-annual charge of £25+VAT. We shall provide you with an invoice in relation to each following 6-month period as and when the fees become payable, calculating based on the current mid-market value of your holding.
SILVER: 0.75% of the value of the Silver (as per our invoice) which you have purchased for the first 6-month period, subject to a minimum semi-annual charge of £37.50+VAT. We shall provide you with an invoice in relation to each following 6-month period as and when the fees become payable, calculating based on the current mid-market value of your holding.
5.2 The fees are reviewed semi-annually and upon written notice, we reserve the right to update the storage rate at any time, in the event of a change beyond our control that increases operational costs incurred by a sub-contracted facility.
5.3 Physical Gold reserves the right to sell part of your holding to cover storage costs if payment isn’t made in a timely fashion.
5.4 The minimum storage period is six months. Any holding sold or released within that period will NOT receive a refund for unused storage.
5.5 Subject to clause 5.4 above, you may arrange for your goods to be removed from the Storage Facility and delivered to an address of your nomination provided you give at least 5 days written notice so we can make the necessary delivery arrangements with the Storage Facility and carrier. You will be responsible for paying the shipping charges and details of these will be provided to you at the time your request is made. This does NOT apply to SIPP Gold. In all cases, a £25 admin fee will apply to any request to move or sell all or part of your holding and delivery costs will be payable.
5.6 If Physical Gold Limited ceases trading for any reason, you will have full access to your goods detailed in your Storage Confirmation document, upon presentation of the document and photographic ID to Loomis International. You will then have the choice of removing your metals or opening a direct storage account to store them with Loomis.
5.7 We are responsible for arranging storage of your goods with our subcontractor Loomis International (‘Loomis’) and ensuring that, under our contracts with them, Loomis bear the risk of loss, damage, or theft of your goods from the start of our storage service until it is complete, and that they maintain appropriate insurance against the risks.
5.8 If any of the goods held by Loomis under the contract are lost, damaged or stolen, we will work with you to enforce our rights and remedies with Loomis and their insurer(s) on your behalf.
For any accepted claims we will endeavour to work with Loomis to replace your item(s) with like for like or equivalent item(s) agreed by you, but reserve the right to arrange for Loomis or its insurer to reimburse you in the form of cash reimbursement (Sterling). Our liability is limited to helping you in this process.
5.9 The maximum liability of Loomis in respect of our storage service shall not exceed the then current value of your goods that were lost, damaged or stolen. This is the maximum liability that our subcontractor and its insurer will accept under our contract with the subcontractor and is based on the market value at the 3rd business day following notification of any loss as expressed in USD ($) and converted to Sterling based on the exchange rate on that day.
6.1 We accept the following credit cards and debit cards: Visa, Mastercard, Visa Debit and Maestro. There’s a limit of £30,000 per transaction for debit cards and £10,000 for credit cards. Bank transfer can be used for any transaction size.
6.2 We will do all that we reasonably can to ensure that all of the information you give us when paying for the goods is secure by using an encrypted secure payment mechanism. However, in the absence of negligence on our part we will not be legally responsible to you for any loss that you may suffer if a third party gains unauthorised access to any information that you give us.
6.3 The delivery address provided must match the cardholder address of the credit/debit card used to make the purchase.
6.4 Your credit card or debit card will only be charged when your order is accepted by us.
6.5 All payments by credit card or debit card need to be authorised by the relevant card issuer. We will also need to use extra security steps via:
Verified by Visa: https://www.visa.co.uk/products/protection-benefits/verified-by-visa/
6.6 Payment by bank transfer must be made within 24 hours of placing an order. Physical Gold reserve the right to adjust the price of goods if this isn’t done.
6.7 If your payment is not received by us and you have already received the goods, you must pay for such goods within 24 hours.
6.8 If you do not return any goods (such as where you have not paid for them) we may collect the goods from you at your We will try to contact you to let you know if we intend to do this
6.9 The price of the goods:
is in pounds sterling (3)(GBP)
includes VAT (where applicable) at the applicable rate
does not include the cost of: delivering the goods (if you want delivery options and costs, visit our delivery/storage webpage before you place your order)
7. ID Requirements
7.1 We may, at our discretion, and in any event for any order exceeding £10,000 require you to provide certified proof of identity including a certified copy of your photographic ID (passport or driving licence) and a copy of a recent utility bill (dated in last 3 months).
7.2 You authorise us to use your personal information to conduct anti-fraud checks including passing your information to credit reference or fraud prevention agencies. All personal data provided will be treated in accordance with the Data Protection Act 1998. See our ID requirements guide.
8. Nature of the goods
8.1 The Consumer Rights Act 2015 gives you certain legal rights (also known as ‘statutory rights’), for example, the goods:
are of satisfactory quality
are fit for purpose
match the description, sample or model.
8.2 We must provide you with goods that comply with your legal rights.
8.3 While we try to make sure that:
all weights, sizes and measurements set out on the site are as accurate as possible, there may be a small tolerance of up to 5%.
the colours of our goods are displayed accurately on the site, the actual colours that you see on your computer may vary depending on the monitor that you use
8.4 If we can’t supply certain goods (such as specific coins) we may need to substitute them with alternative goods of equal or better standard and value. In this case:
we will let you know if we intend to do this but this may not always be possible
you can refuse to accept such substitutes, in which case we will offer you a refund or a replacement and let you know how long such an offer remains open for
9. Faulty goods
9.1 Nothing in this contract affects your legal rights under the Consumer Rights Act 2015 (also known as ‘statutory rights’). You may also have other rights in law.
10. End of the contract
10.1 If this contract is ended it will not affect our right to receive any money which you owe to us under this contract.
11. Limit on our responsibility to you
11.1 Except for any legal responsibility that we cannot exclude in law (such as for death or personal injury), we are not legally responsible for any:
losses that: were not foreseeable to you and us when the contract was formed
losses that: that were not caused by any breach on our part
losses to non-consumers
12.1 We will try to resolve any disputes with you quickly and efficiently.
12.2 If you are unhappy with:
our service to you
any other matter
12.3 If you and we cannot resolve a dispute using our internal complaint handling procedure, we will:
let you know that we cannot settle the dispute with you, and
give you certain information required by law about alternative dispute resolution (ADR)
12.4 If you want to take court proceedings, the relevant courts of the United Kingdom will have exclusive jurisdiction in relation to this contract
12.5 Relevant United Kingdom law will apply to this contract
13. Third party rights
13.1 No one other than a party to this contract has any right to enforce any term of this contract