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Frequently Asked Questions!

Buying Gold or Silver

Do you charge sales tax?

Whether or not one must pay sales tax on a precious metals purchase depends on where you are located. Some states require the collection of sales tax while others do not. Some states also may charge sales tax up to a point, and there may be exemptions beyond that point.

For example, a purchase of less than $1,000 may be subject to sales tax but above $1,000 may not be subject to the tax. It is important to also keep in mind that tax laws can change and, therefore, the information contained here is believed to be accurate, but no warranties are being made as to the accuracy. One should always conduct their own due diligence.

Why are similar products priced differently?

The premiums on our products are based on the mint of origin, the complexity of the design, and the uniqueness of the product. Also, our selling price for a product is determined by the price for which we purchased that product. Some items cost us more to buy; in turn, those items will cost our customers more. Conversely, if a mint charges us less for an item, we pass those savings along to our customers.

How are your prices determined?

Our prices are determined by the spot prices of gold and silver, in addition to our premiums for each product. Our spot prices, provided by a variety of sources, are accurate to-the-second.

How do I lock in pricing?

When you pay with a paper check or bank wire transfer. When you pay with a credit/debit card, PayPal, ACH, your price is locked in automatically at checkout.

Do you price match?

We will price match any oficial quotes from the same day.

Payments

What payment methods do you accept?

We accept Visa, MasterCard, American Express, Discover, PayPal, bank wires, paper checks, and ACH. ”Paper checks” include personal checks, money orders, cashier’s checks, online bill pay, bank drafts. We do not accept convenience checks or prepaid cards.

How do I place an order by bank wire?

There is a $2,500 minimum order requirement for all bank wire transfers. Please know, bank wire transfers and ACH transfers are different.

How do I place an order by paper check?

Write a check to Wholesale Direct Metals your order number in the Memo area of the check, and mail it via the United States Postal Service within one (1) business day of placing your order. You will be sent an email confirmation upon receipt of payment, and your order status will progress from “Pending” to “Paid.” It can take up to eleven (11) business days from the date your order is marked Paid for your check to clear with our Billing Department. Once cleared, we will begin preparing your order for shipment. You will be sent an email notification when your order ships.

Do you hold checks, cashier’s checks, and money orders?

Yes, all checks, cashier’s checks, and money orders are held eleven (11) business days. Unfortunately, we regularly receive fake money orders and checks, and the only way to fully verify payment is to wait out the bounce period. Once your check clears, your order will ship. An email notification will be sent when your order ships. In extreme cases, we reserve the right to hold a paper check as long as a month before shipping an order.

Do you have minimum or maximum order sizes?

Our order minimum is $2,500.

How will I know if my payment was received?

We have no way of knowing when your payment will arrive. Once we are aware of your payment’s arrival, we will let you know via email. If you haven’t been sent an email from us confirming our receipt of payment, we have not received your payment. The moment your payment is processed, you will be notified of such via email.

Bank Wire Transfers: Bank wire transfers are deposited directly into our checking account. Bank wires take about half a business day to process. We will send an email confirmation of receipt of payment

Paper Checks: It is not unusual for checks to take seven to ten days to reach us via the postal service, which is why we require customers to mail their paper check payments within two business days of order placement. If you have tracking on your payment, and delivery is confirmed, your payment has arrived at our bank. Confirmation of delivery does not mean your check has been processed. Once your paper check payment has been processed, your order will be marked “Paid,” and you will be sent an email confirming receipt of payment.

ACH: ACH payments are automatically processed once your account is confirmed. Once the ACH has been processed, your order will be marked “Paid,” and you will be sent an email confirming receipt of payment.

Advice: Upon completion of your order, you should have received an order confirmation via email. If you never did, it may be because our emails are going to your Junk or Spam folder. Look in those folders to see if there are any emails from us. If there are, please mark them “Not Junk” so you will receive our email confirming receipt of payment in your Inbox, where you are more likely to notice it. That email confirmation is your assurance your bank wire transfer or paper check has been received. If you sent a bank wire, your payment clears immediately upon receipt. If you sent a paper check, the eleven business day bounce period begins the day the email confirmation is sent. Most orders ship within two business days of cleared payment.

You can check your order status at any time. Simply call our (888) 681-4597 number and ask to speak to your representative. You can also send us an email inquiring about your order at sales@wholesaledirectmetals.com. Bank wire payments clear immediately upon receipt, while paper checks have a bounce period of eleven business days from the day your order is marked “Paid.” Most orders ship within two business days of cleared payment.

What is your check cancellation policy?

We require your check be postmarked within two (2) business days of order placement, and we must receive your check within ten (10) calendar days. Per our Terms and Conditions, if your check does not reach us before the ten-day window expires, your order will be canceled due to non-payment, and market loss fees will be charged, should they apply at the time of cancellation.

If you wish to cancel your order, please contact us via email, phone. Please note, if you request to cancel an order via email and market loss fees are applicable, you will be required to call to cancel your order.

IRA & 401K

How does the process work?

The first step is establishing your new Precious Metals IRA account. Your dedicated Account team member will walk you through the simple application. It's only a few pages long and takes about 10 minutes to complete. We will help you send that back to our offices via fax, email, or mail. Upon receipt, we will process the application and have your new IRA account completely set up within 24 hours! Wholesale Direct Metals will then immediately reach out to your current IRA custodian to arrange for the tax-free rollover of your retirement monies. Transferring the funds may take up to 5 business days, depending on your current IRA custodian. The funds are transferred usually via bank wire, and once they have been deposited into your Precious Metals IRA account, you are ready to get invested!

In a Precious Metals IRA, do I actually own the physical metals or do I just get certificates?

When you open a Precious Metals IRA Wholesale Direct Metals, you will be the proud owner of the actual physical metals you purchased. All of your hard assets are securely stored at a state-of-the-art, IRS-approved, insured private storage facility. Once you are age-eligible to take a mandatory distribution, you can choose to either take physical possession of your metals or liquidate your assets (in the appropriate amount, as determined by the IRS rules).

Where are my metals stored?

Wholesale Direct Metals ships (insured) all metals directly to the Delaware Depository IRS-approved depository vault. The Delaware Depository has been the industry leading IRS-approved depository for the safeguarding of precious metals since 1999. DDSC backs its storage services with a comprehensive insurance policy, underwritten by Lloyds of London, one of world's oldest insurance providers. The Delaware Depository's state-of-the-art facility is the ideal solution for safe, secure, private storage of your precious metals.

Are my metals safe at the depository? What if something happens to them (theft, damage)?

Each and every client account at the Delaware Depository is 100% insured for the full value of the metals stored. In addition, every package shipped from the Delaware Depository depository also carries full insurance coverage. The Delaware Depository provides an impressive, comprehensive insurance policy, underwritten by Lloyds of London, one of the world's oldest insurance providers. The Delaware Depository's insurance policy protects your assets against physical loss or damage arising from any cause, even Acts of God (fire, flood, etc.).

How do I move money from another retirement account into a Precious Metals IRA?

There are two safe, tax-free and penalty-free methods used to transfer money between retirement accounts: the direct trustee-to-trustee transfer and the 60-day rollover option.

The trustee-to-trustee process moves your retirement monies from your current IRA provider directly into the hands of your new Precious Metals IRA provider. If the 60-day rollover method is used, your current IRA account provider mails a check to your home address; you will then simply mail that check directly to your new Precious Metals IRA provider. As long as this check is provided to the new IRA custodian and deposited into your new IRA account within 60-days, there are no taxes or penalties incurred.

We know this rollover process can seem complicated and we urge our clients to let us do the heavy lifting! With your consent, your IRA team member will assess which method would work best for your portfolio and will handle the entire process on your behalf, filling out the paperwork or making any necessary phone calls.

Is the paperwork complicated?

Opening or rolling over into Precious Metals IRA is a very easy process, thanks to the assistance provided by your IRA team member. We will assist you with filling out a simple IRA application to open your Precious Metals IRA account. You only need to provide your basic contact information and the contact information for one other beneficiary you'd like to list on your account. We accept forms via mail, fax, or email—whichever is easiest for you. In addition, we also use DocuSign to capture electronic signatures making the application process even easier; this means that you don't have to print anything out.

I have many different investment accounts in my portfolio. Which ones can I rollover into a Precious Metals IRA?

You may only rollover IRAs or other qualified retirement accounts into a Precious Metals IRA. Qualified retirement accounts include: Roth, SEP or a SIMPLE IRA, 401k, 403b, 457b, Pension plans, or Thrift Savings accounts. If you would like to know which account(s) you have that can be rolled over into a Precious Metals IRA account, our IRA team member is happy to help you. You can go over your options with our IRA team member over the phone prior to making any decisions or starting the process.

How long does this process take?

It takes about 1 business day to open your new Precious Metals IRA and to receive your new IRA account number. The time it takes to transfer funds from one retirement account to another varies, depending on your current IRA custodian. On average, funds can be transferred within 5 business days.

What happens when I want to take a distribution or process my annual Required Minimum Distribution (RMD)?

It's simple! First, you let your Lear IRA team member know whether or not you want the physical metals shipped straight to your front door, or if you'd like to receive cash instead. We can arrange for the metals to be securely shipped from The Delaware Depository's depository, or we can help you liquidate your metals in exchange for cash. Once liquidated, the distribution can be wired into your desired bank account or mailed to you via check. The choice is yours.

Can I make contributions to this account like I normally would with my current Traditional IRA?

Yes! If you are still making annual contributions to your retirement account, we can arrange to have those contributions automatically transferred into your Precious Metals IRA account on a recurring schedule. The contributions can sit in your account in a cash position earning a low rate of interest, or you can invest in more precious metals.

Why can't I hold metals in my current IRA?

Unfortunately, if your IRA account is invested in stocks, mutual funds, ETFs, bonds (or other traditional investment vehicles), then it is highly unlikely that your current IRA provider is able or willing to manage a physical asset such as precious metals. The brokerage firms that most people utilize to manage their IRAs are only equipped to buy and sell shares in the stock market and store information digitally. In order to invest your IRA in physical precious metals, you have to open a special type of IRA called a “Self-Directed IRA” and you should work with a company who contracts with an IRS-approved storage facility with experience managing physical assets. We will help you open one of these versatile Self-Directed IRAs so that you may invest in physical precious metals.

Post Sales & Shipping

When will I receive my order?

The majority of orders ship out within two to four (2-4) business days of cleared payment. We pay for all shipping costs for purchased metals and use United States Postal Service, FedEx or UPS, it will usually be delivered within 2-5 business days, depending on your location. We cannot guarantee delivery dates, unfortunately, because that is, ultimately, dependent on the mail carrier.

Do you ship internationally?

We only ship to U.S. addresses (including P.O. Boxes and APO addresses).

How will I know when my order ships?

We will notify you by email once your order ships.

Do we ship to P.O. Boxes?

Yes! We use the United States Postal Service, when shipping to a P.O. Box.

Is my package insured while in transit?

Wholesale Direct Metals fully insures all its shipments. Should anything happen while your package is in transit to you, it will be covered by our insurance policy. If we determine the package is lost or damaged, we file a claim. We reserve the right to re-ship your items or refund your money at our discretion.

My package appears to have been damaged or tampered with. What should I do?

We recommend you refuse any shipment that appears to be damaged or tampered with as the shipping insurance ends once signed for and/or delivered. When refused, the package(s) will return to Wholesale Direct Metals for inspection. If you have taken possession of a damaged or tampered package, please save all packaging and contact Wholesale Direct Metals at (888) 681-4597 within 48 hours for further instructions. Failure to notify us of damage or tampering within 48 hours from signature or delivery date may impact our ability to cover your claim.

What happens if my order is lost in transit?

In the event, however unlikely, that your order is lost during transit we ask that you contact Wholesale Direct Metals immediately. Once you contact us, we can begin the claims process. You have a maximum of 3 days (72 hours) from the anticipated delivery date to contact us regarding orders that were lost during transit. If your items cannot be recovered, you are entitled to a reimbursement. Assuming you contact us within 3 days (72 hours), you are entitled to a full reimbursement of your loss in accordance with the specific shipper’s insurance policy.

Can I change my shipping address?

We can change shipping addresses on a case-by-case basis. If you need to change your shipping address, please call in and speak with a representative.