Here are a list of Frequently Asked Questions. If you have any further questions, please contact us.
Gold Bullion International, LLC, a New York limited liability company, has been formed to provide the wealth management industry with a means to directly buy, store and sell precious metals on behalf of their Retail Clients.
GBI is not a broker dealer and does not engage in any derivative, hedging or trading activities. GBI does not employ leverage in its business model and all trades will be executed immediately in cash.
GBI has a very experienced senior management team and an illustrious Advisory Board. GBI’s senior management team, with over 120 years of experience in the precious metal, financial services and wealth management sectors, brings a wealth of expertise in product development, technology, operations and client service.
GBI’s Advisory Board consists of Richard Gephardt, the former majority leader of the United States House of Representatives, General Wesley Clarke, a former four star General of the U.S. Army and former NATO Supreme Allied Commander and Dan Tapiero, a global macro investor and a co-founder of AgCoa, the first US farmland REIT.
Please refer to Our Team for more details.
245 Fifth Avenue, Suite 2201
New York, NY 10016
Email: .(JavaScript must be enabled to view this email address)
Telephone: 646-822-1300
Fax: 646-219-1615
Website: http://www.bullioninternational.com
GBI has partnered with several leading London Bullion Market Association approved dealers to purchase precious metals on behalf of its customers. Access to such a large number of dealers assures the best available price for GBI’s customers.
Currently, precious metals are stored on behalf of clients in protected and insured vaults in New York, London and Zurich. In the future, GBI may choose to offer other storage locations based on feasibility, security and customer preferences.
GBI has partnered with LBMA approved vaulting partners to provide storage, insurance and transportation services to its customers. All precious metal transportation and storage is fully insured by our vaulting partners through Llyod’s of London.
Precious metal holdings are audited on a daily basis by our LBMA approved vaulting partners. An audit report containing bar lists is sent to GBI by the vaulting partners.
In addition, an internationally recognized auditing firm audits all of the precious metal holdings on a quarterly basis.
Each broker-dealer will confirm precious metal bar holdings with GBI on an aggregate basis and report individual holdings at the customer level through their existing platform.
GBI only purchases LBMA approved precious metals that meet stringent refining standards (in excess of 99.99%)
Yes, you may request delivery of your precious metal holdings. All shipping and handling costs associated with the delivery are borne by the retail customer.
There are significant risks involved with taking delivery of precious metal. Once the precious metal leaves the LBMA approved chain of custody, it loses its authenticity. Risks of delivery include, but are not limited to, loss of value, inability to sell it at market value, re-assay charges and loss of insurance.
1 troy oz, 1 Kilo (~32.15 troy oz), and for certain broker-dealers 400 troy oz bars
Prices for each type of bar fluctuate during trading hours. You must contact your broker-dealer to get current market values for each bar type. Typically, market values of each bar trade at a slight premium to the spot price of precious metal.
GBI stores and secures precious metals on an “allocated” basis whereby precious metal is held in the vault specifically on behalf of each broker-dealer client. The client has the right to verify their precious metal holdings through their broker-dealer.
GBI will work with various dealers to ensure customers receive the best execution price. Partnerships with a number of leading London Bullion Market Association approved dealers helps assure best execution price.
Precious metal spot price is an indication of the price of precious metal in an unallocated form (typically a London Good Delivery Bar – 400 oz). GBI’s precious metal bars command a premium as they come in an allocated form and in various denominations. Part of premium includes a mark-up that GBI charges for its services.
Retail clients must purchase entire bars of precious metal. No partial bars or fractional interests in bars are being offered through GBI. The minimum purchase order amount will vary by broker-dealer.
GBI will not have a relationship with any Retail Client by virtue of the Retail Client’s purchase or sale of precious metals through a Broker and GBI will not know the identity of any Retail Client. Brokers will be responsible for tracking the precious metal holdings of their Retail Clients, providing reports to Retail Clients and placing orders with GBI on behalf of Retail Clients.
Brokers will be required to certify to GBI that all anti-money laundering, “know your customer” and other requirements have been satisfied with respect to each Retail Client.
GBI will use commercially reasonable efforts to settle orders within 2 business days following their execution. If GBI is unable to purchase or sell precious metal bars totaling the exact order amount, the Broker will only be required to pay (in the case of a purchase) or will only receive (in the case of a sale) the amount due or received in connection with the executed transaction.
Where purchase or sale orders are placed and GBI cannot match precious metal bars from a Precious Metal Supplier or the Retail Client, as applicable, exactly to the dollar amount, GBI will use its reasonable discretion to execute the transaction as close as possible to the dollar amount.
When a Broker transmits a purchase or sale order to GBI, GBI will use commercially reasonable efforts to price the order within one hour of receiving it. For each purchase or sale order, GBI will use commercially reasonable efforts to obtain the most favorable price available to GBI for that order. Orders involving multiple bars of precious metal may be executed with more than one Precious Metal Supplier, each bar may be purchased or sold at a different price and different bars may settle at different times.
Physical precious metal is a unique asset that it bears no credit or counterparty risk, is highly liquid, and has the legacy as a monetary commodity.
Key advantages of buying physical bullion versus an ETF:
For detailed information on the advantages of gold bullion and our services, please contact us.