|
 |
On-Line Shop |
 |
|
 |
Site Information |
|
|
|
| Frequently Asked Questions |
 |
|
|
Frequently Asked Questions
Q. How is the / your price made / price break down for the items you sell ?
A. This is probably the most common question I get asked. Buyers are always interested why products cost more that the spot price and why imported items cost more the New Zealand made products. The break down is as follows:
Net Product cost: (NPC)
Spot price (AKA silver still in the ground) mining + refining + manufacturing costs
Net acquisition cost:
Off shore buyer premium (NPC times 2% to 5 % ) + NZD to USD forex commission costs (2.25%).
Net Movement costs:
Importation / shipping / freight forwarding cost (approx $1.20 / oz) + insurance (Which is over $1.50/oz) + secure storage fee.
Then I add my measly commission to cover my cost such as website and associated running costs.
As you can see there are many costs involved, sure I could cut costs like shipping / insurance / storage costs but the risk is too great. In the past, I have lost a number of silver coins (the largest being 100+) during shipping (trackable international shipping !!) And I was unable to do anything about it. After a few months of stress I had to kiss that order bye bye..
I have had colleagues go through the same issues, the most recent (late 2007) I heard about was a shipment of 100 SM ingots – poof gone !! – neither postal agency involved were much help to the importer.
I am not trying to lay down scare tactics but just let you know that these type of things can and do happen.
So the biggest part of the price component is around the net movement costs which adds anything from $3.50 to $5 a oz.
Q. What is the best to collect?, 1 oz coins or larger 1 kg ingots ?
A. 1 oz items are great for people who buy a few coins/bars on a regular basis because it is only a small outlay if you want to make regular purchases easily – you can order from your PC at home and have it delivered to your door hassle free. The preference of what and how you want it is up to you. Many theorists talk about the coming financial melt down / dollar default, Having silver coins will be an instant way of trade, coins are nice to collect, easily transportable + they have the benefit of being a precision minted, guaranteed 1 troy oz of .999+ silver.
Q. Does NZSilver have a shop I can visit ?
A. No, we are primarily a web based shop. This helps us to deliver lower prices thus saving you money.
Q. Why do items cost more that the current spot price ?
A. Spot price basically means the raw price of silver still in the ground. Once you add the cost of mining, refining, minting and handling, it increases the sale of the item. 1 oz items always have the highest premium. Imported items will always have a higher premium than local items
Q. What is the best way to store my silver and stop my silver from tarnishing ?
A. Keep it in an airtight container out of the light and handle uncovered silver with cotton gloves.
Q. Will I get a purchase discount it I purchase bulk ?
A. Yes - depending on the quantity.
Q. Where can I find NZSilver’s account details for payment ?
A. The NZSilver bank account details for payment is included in the "comments" section of the invoice that would have been emailed to you when you purchased, alternatively you can log on to your account and view your purchase details - the account details are displayed there.
Q. Can I list my gold or silver ingots on your site ?
A. Yes - I am happy to list bullion items you want to sell, However, I do charge a 10% (negotiable) commission on a successful sale.
Q. Can you source other bullion products like gold ingots, Maples, Buffalos etc ?
A. Yes , I have reliable contacts that can supply most bullion products.
Q. Do you buy bullion products ?
A. Yes - depending on what you have and coming to an agreement on price / Or I can sell on your behalf for 10% (negotiable) commission on a successful sale .
Q. How easy is my silver to sell?
A. The good thing about silver, gold… the higher the price goes the easier it is to sell. You can always take your coins into one of the main New Zealand refineries and get the going rate for silver – so if it is $500 an oz – you will get that per coin. Silver is silver (coins / ingots) as long as it is bullion quality 99.0+ you will easily sell for the going rate.
Precision minted, well known items such as Maples, Eagles, onzas, Sunshine and phoenix products are very easy to sell on the international market if the NZ market is no longer buying.
Q. Why do many Silver bullion products sell at a higher premium over melt than gold?
A. There is almost 80 times as much weight per dollar of market value for silver, so the amount of energy expended in refining and minting plus the costs of handling and shipping of silver bullion products are higher per unit of value. Thus, refiners, mints, distributors, and dealers price silver products to recoup these additional costs.
|
|
|
|
|
| 0 items |
|
|
|
|
Bestsellers |
|
|
|
Manufacturers |
|
|
|
|
|
