FAQs

Frequently Asked Questions

Here are a list of Frequently Asked Questions. If you have any further questions, please contact us.

What is GBI?

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.

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Who is backing GBI?

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.

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Can I buy precious metals directly through GBI?

Yes, you can buy and store or take delivery of precious metals directly through GBI. Call us at 1-877-GBI-9507 (877-424-9507) for questions and to get started now!

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Where are your offices located?

245 Fifth Avenue, Suite 2201
New York, NY 10016

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How do I contact GBI directly?

Email: .(JavaScript must be enabled to view this email address)
Telephone: 877-GBI-9507 (877-424-9507)
Fax: 646-219-1615
Website: http://www.bullioninternational.com

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Where does GBI purchase precious metals?

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.

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Where are the precious metals stored and how is it transported and insured?

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.

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How do I know that my precious metal is actually at the vault?

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.

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How pure are the precious metals?

GBI only purchases LBMA approved precious metals that meet stringent refining standards (in excess of 99.99%)

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Can I take delivery of my precious metals and what are the costs involved?

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.

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What type of precious metal bars does GBI offer?

1 troy oz, 1 Kilo (~32.15 troy oz), and for certain broker-dealers 400 troy oz bars

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What are the prices for each type of precious metal bar?

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.

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What is allocated storage?

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.

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How does GBI get me a better precious metal price?

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.

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Why is the price of GBI’s product offering above precious metal’s spot 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.

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What is the minimum purchase amount?

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.

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What is the relationship between GBI, Broker-dealer and retail customer?

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.

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What is the settlement process for a trade?

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.

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What is the purchase/sale price?

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.

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What are the advantages of buying physical precious metal versus an ETF?

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:

  • Investment in physical bullion enables investors to diversify out of paper financial assets which are typically 100% of their investment holdings
  • Physical bullion has the highest correlation to spot price of precious metal
  • Physical bullion can be stored in various locations around the world through GBI limiting geopolitical risk
  • Physical bullion is not subject to changes in regulatory oversight by the CFTC

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What is GBI's annual storage fee?

The fee varies depending on the metal type and the value of the precious metals a client stores within their account. For additional information please email us at .(JavaScript must be enabled to view this email address) or call us at 1-877-GBI-9507 (1-877-424-9507).

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Can I add gold to my IRA account?

Yes. Please call us at 1-877-424-9507 to speak with a Precious Metals IRA specialist to help you open an account and start the application process.

Gold Bullion International has partnered with Sterling Trust, a leading custodian for precious metals IRAs in the United States, to provide clients with a seamless way to hold in precious metals in their IRA. When it is time to take distributions from your IRA, you may choose to convert your precious metals investments to cash through Gold Bullion International or take a distribution of the actual coins or bullion.. This flexibility means you can wait for optimum market conditions before you sell.

Call to speak with a Precious Metals IRA specialist to open an account and start the application process.

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Who is Sterling Trust? And what is GBI’s relationship with Sterling Trust Company?

Sterling Trust is a non-bank trust company. Since 1984, Sterling Trust has specialized in providing quality non-discretionary custodial services on self-directed IRAs, business retirement plans, and personal custodial accounts as well as escrow and paying agent services. From its corporate offices in Waco, Texas, Sterling Trust services individual and business retirement accounts in all 50 states.

Since Sterling Trust's only business is the administration of self-directed accounts, it has become a leader in providing specialized services designed to maximize your ability to control and manage your account assets.

Gold Bullion International serves as an agent to Sterling Trust. Precious metals are acquired by Gold Bullion International, but accounts are in the care of Sterling Trust, the custodian for precious metals IRAs.

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What products can I add to my IRA?

List of coins and bullion products that are permitted:

Gold

  • American Eagle Coins
  • Australian Kangaroo/Nugget coins
  • Austrian Philharmonic coins
  • Canadian Maple Leaf coins
  • Bars and rounds manufactured by a NYMEX or COMEX approved refiner/assayer or national government mint and meeting minimum fineness requirements

Silver

  • American Eagle coins
  • Australian Kookaburra coins
  • Canadian Maple Leaf coins
  • Mexican Libertad coins
  • Bars and rounds manufactured by a NYMEX or COMEX approved refiner/assayer or national government mint and meeting minimum fineness requirements

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Learn More

For detailed information on the advantages of precious metals and our services, please contact us.