General Information
For bullion products 401Gold sells the following precious metals of gold, silver, platinum, palladium and rhodium as coins, bars, rounds, wafers and shot. All items that we sell are tested for weight and purity.
Where is 401Gold Inc located?
401Gold Inc has two locations:
401Gold Inc - Scarbourgh
2190 Warden Avenue,
Suite G5
Toronto, Ontario M1T 1V6
401Gold Inc - North York
3200 Dufferin Street
Suite 19B
North York, ON M6A 3B2
Can I make a purchase in person?
Yes, of course. Our lab for testing and appraising is right at our front door for your convenience. Due to security concerns, we do not display our products. But we can bring items to the front lab for you to consider.
Yes, of course. All our products are online where you can browse and find what you are looking for at the price you want to pay.
Do you sell to businesses?
This can be arranged, and we would require you to call us to set this up for you.
401Gold also offers dealer/wholesale accounts by application.
What does spot mean for precious metals?
The spot price of gold is the live market value for one troy ounce (or per gram), and it changes constantly. Typically as demand increases so does pricing!
A troy ounce is a system of weights used for precious metals and gems, based on a pound of 12 ounces as opposed to the traditional 16. A troy ounce is 31.1034768 grams or 0.0311034768 kilograms, as opposed to a normal ounce which only has 28.3495 grams
Purchasing
Why do you take my credit card as a deposit?
Precious metals markets go up and down all the time, and that's why we require a valid Visa or Mastercard number for security purposes before processing any orders online as we need to lock in your order at the price you’ve chosen. And if you don't pay in full for your order within 48 hours, then there will be additional fees charged on top of the actual market loss amount based upon our Unpaid Transaction Fee Policy which currently stands at $50 + any market losses we incur due to your transaction.
Do I have to pay any tax on my purchases?
Gold & Platinum bullion such as bars, coins, wafers and round bars, ingots, coins, or wafers that have a refined purity equal to or above 99.50% are tax exempt.
Examples of non exempt bullion are gold sovereigns, Krugerrands or gold eagles that each have a purity of 91.67 (22k). Sterling silver 92.50 is also not exempt from tax
Silver & Rhodium bullion such as bars, coins, wafers and round bars, ingots, coins, or wafers that have a refined purity equal to or above 99.9% are tax exempt
Palladium is not tax exempt
This information is supplied only as reference, and 401Gold recommends that you always seek independent financial advice for your tax planning requirements.
What payment methods are available?
In our store you can pay by
- Cash. Transactions over $10,000 CAD will be reported in accordance with FinTrac requirements. Please visit FinTrac for more information.
- Bank Draft (notice required)
- e-transfer/Interac (Interac daily limits apply)
- Company Check
Online you can pay by
- All transaction over $500 require a credit card to lock in the order
- Credit Card for purchases under $500 (plus 4% fee)
- Bank Draft
- e-transfer/Interac
How is the price locked in for online orders?
Market prices for precious metals are constantly changing, so to lock in your price for online orders we require a credit card to lock in your order at the rate (spot) as requested by yourself at the time of ordering.
Do I need to supply ID when buying bullion?
ID is not required to buy bullion either online or in our store. The only time we ask for ID is if you come into our store and wish to pay with cash over $10,000.00 CAD in any given 24 hour period, or if we feel that the transaction is suspicious. If we do ask for ID, you may cancel your order without cost.
Do I have to open an account to buy from 401Gold Inc?
You do not need to set up an account for over the counter sales, but you do need to set up an account for online orders.
For credit card transactions we charge an extra 4%. This does not apply to the initial hold transaction for online orders. We also charge shipping and insurance fees for order under $500
Why do I need to be verified before making a some purchases?
We verify clients to assist in fraud prevention. Some payments require us to verify your identity.
How will 401Gold Inc verify my identity?
We use the Persona service (withpersona.com) which uses a combination of documents (eg. government issued ids, utility bills, bank statements), selfies and phone interactivity to verify a client's identity.
What happens my uploaded documents?
401Gold will only access your documents for identity verification purposes. The full privacy policy for Persona can be viewed
here.
Shipping & Insurance
What are your shipping fees in Canada?
Gold & Platinum Bullion
$15 + $0.50 per troy ounce
Silver Bullion
$8.50 + $0.05 per troy ounce
Collectibles
$1 to $499 = $15 flat fee
FREE shipping for all orders over $500
How long does it take to receive my online order ?
401Gold will ship your package within 2 to 5 business days of your payment having cleared, and the actual shipment should arrive anywhere from 1 to 10 days from the shipment date depending on what part of Canada you are located. Please also note that for the safety of your package in transit, 401Gold typically sends out shipments on Monday, Tuesday and Wednesdays only to reduce the risk of any package being held in a distribution centre over any weekend.
Who is responsible if my package is lost in transit?
You can rest assured knowing that your package is being shipped with full insurance coverage, so if your package gets lost in transit you will be fully compensated. And don't forget that a signature will also be required upon delivery of the goods.
What happens if I'm not at home when my package is delivered?
Your package will be delivered to your door and if you're not home when it arrives, a second attempt will be made by the delivery service on the following day. A notice with instructions about picking up your item at the post office or UPS/Fedex location will also come along with this shipment so keep an eye out!
Does 401Gold ship to non-residential addresses or PO Boxes?
We can ship to non residential addresses or PO Boxes, but 401Gold will not take any responsibility for lost packages as our insurance coverage will not cover this request. If you are determined to have your package delivered in this manner, we will first ask for an email from you making such a request in writing.
Does 401Gold ship internationally?
Bullion: No
Collectibles: Yes
We do not offer international shipping on Bullion products, but we do offer international shipping for collectibles. Please contact our store for further information on shipping and insurance.
Cancels / Refunds
The answer is sort of. If you contact us before we initiate a buy on your order, we can cancel your order. If you cancel after we initiate a buy on your order, we cannot cancel the order.
Can 401Gold cancel my order?
401Gold can cancel your order or pending sale at any time for any reason. If 401Gold exercises this privilege, you will be notified and refunded all money spent on your order less fees associated with cancelling it.
If I am not happy with my purchase, can I get a refund?
Refunds are not allowed as most items are sold "as is" from our store and website, and are typically previously owned (unless otherwise stipulated). Previously owned items can show signs of wear and tear or age tarnishing, or minor damage to packaging. If such damage is noticeable, 401Gold will show such damage on the photos on our website.