Check out our FAQ below. Most common questions may be answered here but please feel free to call us as we love to talk about gold and silver! 250-361-1892
How do I establish a price and make arrangements to invest in a gold or silver product?admin2017-12-13T23:59:20+00:00
- Our product pages display pricing which is updated every minute to reflect the current market conditions. Clients may call in to lock in a specific price and quantity of a product and in doing so both parties agree to execute at the agreed market price at the time the order is made.
- By locking in a price, you are agreeing to pay that price regardless of any market fluctuations up or down of the products thereafter. Clients must arrange for immediate payment of the placed order by our accepted payment methods.
How do I establish a price and make arrangements to sell gold or silver products?admin2017-11-29T18:59:17+00:00
- Most clients call for an estimate or visit our location in person to receive a live quote.
- All bullion products are weighed, density and XRF tested to ensure authenticity in house.
- Clients may call to place a sell order over the phone. In doing so the client agrees to sell said products at that market rate (quote) regardless of market fluctuations thereafter.
- All sell orders over the phone must be delivered in person the same day (unless other arrangements are made).
- Cash – If cash purchase are $10,000cad or greater (in 24hrs) by an individual or on the behalf of an individual. We must complete a large cash transaction report as per FINTRAC regulations. FINTRAC is the government agency that monitors Money laundering and Terrorist Financing in Canada.
- Debit – (In Store Only) Please note that most bank debit cards have a daily limit of roughly $1500.00 please make arrangements with your bank to confirm and raise the limit if needed.
- Bank Wires – ONG accepts wires from any financial institution. Please contact us to make arrangements. Note wires may take time to clear as they are not instant payments.
- Bank Draft – Bank drafts are preferred for large payments. Please do not bring in a draft with out making arrangements first. Every major bank and financial institution is with in a 3 block radius from our location. We prefer to walk you to the bank after your order is made to see the draft made (We will not be at the counter with you). This saves us time getting the draft verified by phone.
- Personal / Company Cheques – We do NOT accept personal cheques. Company cheques may be accepted depending on our relationship.
- e-Transfer – There are $3,000.00cad limits on e-transfers per 24hr from most banks. This limit can be raised by speaking to your financial institution.
Do I pay sales tax on bullion Sales tax Gst / Hstadmin2017-11-29T22:59:27+00:00
- There is NO sales tax on bullion that is 99.5% or more pure. This includes gold, silver and platinum coins and bars.
What payment methods does ONG issue when buying?admin2017-11-29T23:00:02+00:00
- Cash – In store only
- Cheque – ONG may issue a company cheque for larger purchases.
- Draft – If same day clearance is needed a draft can be issued.
- Bank Wire – Payments to any major Canadian institution. Be advised that ONG will deduct the wire fees charged by our bank from the total. You will also be charged a fee from your institution for receiving a wire transfer.
How do I know I am receiving authentic bullion?admin2017-11-29T23:37:28+00:00
- Authentication – We take buying and selling bullion very seriously. Unlike most banks that have to send out the bullion for authentication we have the very expensive machines in house to verify the purity and weight of bullion items. In fact most other dealers do not invest in the machines listed below.
- Specific Gravity Tester – Using a specialized scale we are able to use Archimedes law of displacement to determine the specific gravity of the sample. The specific gravity of gold is 19.3 and silver is 10.5. For those curious what Archimedes formula is it’s (Dry weight – Wet weight = X), (Dry / X = specific gravity.)
- XRF – stands for X-Ray Florescence. It’s a process where a x-ray beam is used to displace electrons from their atomic positions causing a burst of energy that is readable by a detector and categorized as a specific element such as Gold-Au, Silver-Ag, Copper-Cu, Nickel-Ni, Tungsten-W, Palladium-Pd, Titanium-Ti etc…
- Digital Scale – We use very expensive scales that are calibrated by Weights and Measures Canada for legal trade. In Canada the scales must be certified on site and measure to .001 of a gram.