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FAQ
Judging by the fact that they have families, yes, they are real people.
Gold, silver, equipment, Cyprus coffee, a professional customer service and a friendly atmosphere - all these qualities can be found in our office now. You are more than welcome to visit us any time to check it all out for yourself. Our regular routine is that the customers come and go and they return not only as customers but also as friends.
We will never abandon our customers, come what may. This is the cornerstone principle of our corporate philosophy.
We have never given out any information about our customer operations and we'll never do anything like that. In this way, our work can be compared to the activities of a bank. There is a short list of government agencies and departments that can request such confidential information about our transactions and, if it is official and reasonable, we will be obliged to turn it over. The European Commission monitors our activities periodically as well as the activities of other coin shops in order to prevent money laundering. Small-scale and medium-scale transactions seldom attract the attention of commissions and agencies.
- Gold is not a type of financial asset involving financial accountability.
- Ownership of gold is non-taxable and is not subject to declaration or state registration.
As regards the way we deal with our customers, on one occasion two sisters accidentally met up in our office, both of them had already been our customers for a long time, although neither of the sisters was aware of this.
Unfortunately, you've fallen prey to unscrupulous gold buyers. The 22k American Eagles and the 24k Maple Leafs always contain an equal amount of pure gold. For example, American Eagles and Maple Leafs contain 1 ounce of pure gold (31.1 grams), while the 24k Maple Leaf coins weigh 3.1103 grams and the 22k American Eagles weigh a bit more – 33.930 grams. This means that a 24k Maple Leaf coin consists of 24 parts of metal, and all of them are pure gold as in total they weigh 1 ounce. As for American Eagles, 22 out of 24 parts are pure gold, also weighing 1 oz, while the other two parts consist of ligature, a metal alloy added to an ounce of pure gold. The reason is that that American Eagle coins were previously used as legal tender when they were in circulation. During the the time when they were in circulation the value of such a coin was equal to $20 and people were free to exchange them for 20-dollar bills. Modern American Eagle coins have a value of $50. You should also be aware that selling investment coins to pawn shops is not the best option as you'll get a better price in a specialized coin store.
You should keep in mind that in the past British Sovereigns were not only minted in Britain, but also in British colonies all around the world. All the Sovereigns produced in Great Britain itself had a purity of 22k. Exactly the same low carat Sovereigns, minted in British colonies, often had a lower purity and contained less gold. For example, in Lebanon the Sovereigns only contained 72% of gold. Accordingly, these coins had a purity of 720, or slightly more than 17 carats.
We don’t want to upset you, but we do not sell or buy British Sovereigns with a purity lower than the level specified by the Royal Mint of Great Britain - 22k. However, you can trade in your Sovereigns with a lower purity at the Bank of Greece.
Cyprus and many other countries of the world use a special system to evaluate, express and label metric gold purity. If gold has a purity of 999.9, it means that 1,000 grams of alloy contain 999.9 grams of gold and 0.1 gram of impurities.
Notably, 1,000 grams of gold with a purity of 850 contain 850 grams of pure gold and 150 grams of impurities (ligature), which harden the metal and/or change the color of the product.
The karat system is still widely used in the United States, South Africa, Britain and many other countries around the world. A purity of 24 karats means that out of 24 conventional pieces of alloy all 24 are gold. Purity of 18 karats means that out of 24 conventional pieces 18 pieces are gold and 6 pieces are impurities (ligature).
A simple formula can be used to convert the purity of gold. For example, in order to figure out the purity of 18-karat gold, you need to take the following features into account:
- The maximum possible metric purity of gold, which is 1,000.
- The maximum possible purity of gold in karats, which is equal to 24.
- The actual purity of the product in karats, in this example it is 18. You need to divide the maximum possible metric purity of gold by the maximum possible purity of gold in karats and multiply the result by the purity of the product in karats: (1000/24) * 18 = 750.
To reverse the conversion process, you need to divide the metric purity of the product by the maximum possible metric purity and then multiply it by the maximum possible purity in karats: (750/1000) * 24 = 18 karats.
Instead of performing all these calculations, you can use a special online calculator.
In our opinion, the metric system is better and offers greater accuracy. The karat system excludes fractions. For this reason, the karat system lends itself to a higher degree of accuracy. For example, 999 and 995 gold samples in the karat measurement system fall under the definition of 24-karat purity.
No it isn't. Under the current legislation, you cannot use gold coins for jewelry to avoid paying VAT or even without it. The two-component ligature found in modern Krugerrands really does have an unusual reddish color. Therefore, many women would like to use Krugerrands as material for jewelry. But melting investment coins that can be used as currencies in issuer countries is illegal.
You can order jewelry made of the same materials from your friend or any other jeweler and it will definitely be the same color. To do this, you need 22k gold with no ligature except copper and a purity of at least 99.9. Here are the required proportions: gold - 90.51% and copper - 9.49%. In this way, you will get the same reddish color of a Krugerrand. If you prefer the more yellowish color of the old Krugerrands, then you have to use a triple ligature. In this case, the proportions are as follows: gold - 91.38%, copper - 8.39%, silver - 0.23%.
The above-mentioned data does not come from booklets or handbooks, we got it after performing X-ray spectroscopy of 1 oz coins. These were Krugerrands minted in 2012 and 1985, respectively.
First of all, a few issues should be clarified, especially the term "Market Price". (Reference: https://www.kdggold.com/en/content/market-average-price-for-gold/).
Now that this term is clear, we can reply in the affirmative: yes, in certain cases coins can be bought below market price at the time of purchase. That is, you can buy certain coins for a lower price at certain moments, but of course this can’t be below the market price of gold. The coins we buy back often have minor defects such as scuff marks and/or micro scratches. That said, they are still coins that contain a precise amount of gold. Dealers usually refer to them as mixed year and 2nd quality coins. Conversely, old coins in pristine condition are usually labeled as “Brilliant Uncirculated (BU)
Such coins have never been circulated and retain their original mint luster and detail. These coins tend to exhibit a brilliant sheen and sharp details.
Pursuant to the internal regulations of our company, all the repurchased coins can be bought within a three-day period with a minimum trading margin. This can be done since we buy back coins from our customers without paying any additional transaction fees or the cost of insured shipping and storage. It allows us to sell these coins to our customers below market price.
If we are unable to sell the repurchased coins within three days, they will be evaluated by our experts, after which the price will go up. However, this is a rare case, since KDG usually sells repurchased coins immediately, based on the waiting list priority. If you would like to buy such coins, the best option is to file an application so you can secure a spot on our waiting list. You should contact us by email or by phone. Additionally, keep in mind that when you purchase old gold coins that have already been in circulation, such as British Sovereigns minted back in the 1900s, you’re buying a little less gold than when you purchase modern Sovereigns. The reason is that these coins had already been in circulation and then wore out gradually through the process of obsolescence. For this reason, gold and silver coins that were supposed to be in circulation were never made of pure silver and gold. In such cases. Ligature was always added to harden to harden the coins and make them more durable for circulation.
No, it's not our business. In the office KDG Gold & Silver Coin Partners company and on our website you can:
- Buy gold coins in Cyprus
- Sell gold coins in Cyprus
- Buy silver coins in Cyprus
- Sell silver coins in Cyprus
- Buy gold and silver bars in Cyprus
- Sell gold and silver bars in Cyprus
- Place an order online and have your coins and bars delivered to the EU with insurance.
- Conduct a full or partial non-destructive analysis of any items made of gold and silver.
- Clean your precious metal objects using a professional ultrasonic cleaner, thereby restoring their original shiny luster. Products encrusted with precious stones cannot be cleaned using the ultrasonic method since after this procedure the stones can drop out at any time and the customer might lose them.
Gold is sold on the open market at the so-called spot price. There are spot price implications you should be aware of. It also represents the price of bank gold bullion. In accordance with LBMA standards, bank bars must weigh 400 ounces (12.441 kg) and have a purity of 99.5%. In order to buy gold as bank bars at commodity market prices, you must become an official trader. This can be quite a costly procedure. Only banks and the biggest players on the gold market can afford it. If you decide to purchase a gold bar, you'll end up buying it at a slightly higher price than registered traders do. This is not rocket science since the seller adds a premium to the selling price. In order to make investment coins or bars out of bank gold bars, the manufacturer has to refine the gold and increase its purity from 99.5% to 99.9% or higher. Then he needs to develop and manufacture casts for coins or bars and this also entails additional costs. Then you need to anneal the metal and finally mint the coin or bar. Light investment bars are usually produced by stamping rather than by casting. This makes investment gold bars smooth, flat and visually attractive.
Needless to say, it's more expensive to mint a coin than to stamp a gold bar. However, one should also bear in mind that investment bars from leading manufacturers are assigned unique numbers after stamping and the numbered package acts as a certificate. This also implies additional expenses. For all these reasons, the price of investment coins and bars is approximately equal, and it is always slightly higher than the price of gold on the open market. The price differential per gram only arises when you buy bars and coins that weigh 100 grams or more. In this case, buying bars is more profitable. Nonetheless, selling gold bars is more complicated than selling coins.
Additionally, if you transfer gold coins, it doesn`t usually attract much attention on the part of customs authorities compared to the import and export of gold bars. Every option has its pros and cons.
Stock market indices (which brokers love to refer to as a kind of holy grail tracking market trends) are in a state of constant flux, causing investors at times to sustain catastrophic losses. The list of companies included in almost any stock index from 20 years ago differs significantly from the list of companies listed in that same index today. The claim that investing in stock indices is an extremely profitable and highly reliable way to invest money is a myth spread by paper traders. In reality, no ink inscription on paper makes buying it a profitable and reliable investment. The 2008 collapse of Fannie Mae and Lehman Brothers, which both went bankrupt despite having assigned the highest AAA ratings, aptly illustrates this point.
Any securities, regardless of their name, always carry the risk of the counterparty issuing that paper, which is passed on to the buyer. Gold, on the other hand, offers timeless value. Bullion carries no counterparty or third-party risks, whether on the part of governments, banks, corporations, etc. Consequently, gold cannot go bankrupt. Consequently, we can safely say that gold carries zero counterparty risk.
Personally, what would you take along with you if you were setting out on a journey 20, 40, or even 100 years into the future: stocks, bonds, dollars, euros, or gold?
Yes, of course, friends can pick up orders. However, if you want to do it this way you should call us beforehand and send us a request with instructions via email or fax, so that we`ll be able to process your order and send it to your representative. That person will be able to receive the order after producing his/her passport.
If there is less than a two-month delay in receiving your order, we will add on an additional EUR 20 to the cost of your order. This amount covers our costs for temporary storage of your order in a bank safe deposit box until the order is received, after the personal arrival of the customer or his/her authorized representative.
In other words, the mechanism you requested can only be used without the risk of running out of the stock at the time when the transaction is performed by companies that sell so-called "paper gold".
Paper gold differs from physical metal primarily in that it never runs out of stock irrespective of the amount or form in which the buyer requests this gold. Paper gold never runs out as long as the seller has paper and ink to describe this type of gold in terms of ounces, grams, pounds, kilograms, tons, bars, coins, etc. These ink signatures are then sold to trusting customers.
That said, we do not work with paper gold in any way, shape or form.
You will never leave our office without physical receipt of gold or silver, if you have completed a purchase. If you did't buy anything, the only paper you'll get in relation to gold is our KDG Gold brochure, that which anyone can take home free of charge.
So the mechanism you mention can work conceptually only if the instructions of your order are not tied to gold in the form of a specific coin, or a specific minting year.
No, Bitcoin payments are not acceptable. For the time being, we only accept payments in such currencies as euros and US dollars. We strongly believe that Bitcoin is not a currency. In our view, Bitcoin is merely a technology that generates derivative financial instruments, i.e. derivatives. Moreover, the underlying asset in the case of Bitcoin is a "nothingburger" and is actually equal to zero. We simply cannot accept "nothing" as payment for real physical gold and silver, even if this "nothing" is framed as a computer algorithm.
No, we cannot accept Paypal payments either. But perhaps we will revise our decision at a later time.
Yes, we accept most credit cards, with the sole exception of American Express. But if you pay by card, we will have to charge the buyer the commission assessed by payment systems for each card transaction. However payment systems usually tack on a 2-3% premium to the total transaction amount, depending on the type of the card. The retail sales of clothing or products involve a trade margin of 40% or more. Under such circumstances, sellers are willing to accept Visa or MasterCard payments and pay an additional fee for this service, without buyers being involved. However, taking into account that an average retail margin for gold coins ranges from 0.8 to 1.4%, vendors cannot afford to payi an additional 2-3% fee per transaction, so they pass on these additional fees to the owner of the card. That's the way all coin stores operate in the US and in Europe. It's always 2-4% cheaper to purchase coins via cash or a bank transfer than by using a plastic card.
A cartoon character once said: "Every herring is a fish, but not every fish is a herring!". The situation here is by and large the same: every limited circulation coin is a limited edition coin, but not every limited edition coin has limited circulation.
For example, a Canadian Howling Wolf with a purity of five nines (99999) is a limited edition coin as it was only produced until the end of 2014. But it is not a short circulation coin, because up to that time this coin had been produced by the Royal Canadian Mint in accordance with consumer demand. But Vancouver gold coins, minted in 2010, are in short circulation as only 50,000 Vancouvers were produced. Silver coins can also be in short circulation. 1 oz Silver Australian Koalas with Berlin Privy coins, minted in 2012, are another apt illustration, as only 50,000 such coins were circulated.
- The obverse side typically features the sovereign's image or the national symbols (for example, the coat of arms) of the issuing country. It is also referred to as the front face.
- The reverse side is the back face of the coin. Obverse and reverse are also known as heads and tails.
Canadian Maple Leafs and American Eagles minted 10 years ago are nowadays evaluated in exactly the same way as before: the price of metal + a small additional 3-5% mark-up for coinage. Conversely, Australian Kangaroos and especially Somalian Elephants, which were also released 10 years ago, are currently evaluated as follows: the price of metal + 40-200% extra charge due to their rarity. And this is not surprising, because the reverse design of the coin changes every year and it’s never repeated. When these coins are issued, their price is the same or slightly higher than the average price of other investment coins. But over the course of time these coins become more expensive abnormally fast. They seem to have two sources of overall value: the cost of precious metal and a mark-up for rarity, which increases over time. However, you must bear in mind that in case of an economic collapse or a military conflict, the premium for the coin's rarity will be cancelled. It will only be sold for the price of precious metal. And on the contrary, in case of stability and economic growth the price of these rare coins will riswe quickly, outpacing the higher price of the precious metal they consist of. Therefore, we recommend our clients to invest in both types of coins, adjusting the proportions in accordance with their investment portfolio and the economic goals they wish to pursue in the future. Ordinary investment coins will help you to make it through hard times. But when the hard times end and stability is restored, the limited- edition coins you've bought will fetch you an incomparably higher profit than the standard coins.
Mints and our vendors sell coins in bulk. Such a situation often arises when the prime vendor runs out of certain types of coins, especially of limited edition coins. But these coins can remain available in our stock for some more time. We only sell such coins in our office. We also only sell the coins we`ve bought back from our customers in our office. If you would like to purchase this kind of rare coin, you can pay for it via a bank remittance and then pick it up personally. Alternatively, your representative can receive the coins for you.
Of course not. The profitability of such purchases, made both online and in coins stores, depends on many different factors. First of all it depends on the amount of coins or bullion bars you are planning to buy. The lower the amount is, the less profitable it is to place an order online.
The prices that you see on our website do not represent the final price of the items you have selected. The cost of transferring your gold to the seller and the insured delivery of your order is always added to the price you see on the Internet.
If you order 20 silver coins or a ¼ oz. golden coin, you`ll be charged an additional 50-70 euros. Therefore, making such an order is less profitable than buying the same products personally in a coin store. Therefore, if your order is large, it makes more sense to do it online.
However, when you order coins online, you take a number of additional risks, which can be avoided if you purchase precious metal investment goods personally. In addition, if you order a large number of coins from a store, you will probably also get a discount.
For these reasons, if you want to choose the most profitable way of placing a particular order, it will require an individual approach.
You just have to compare prices for your specific order if you place it online and if you purchase the coins directly in the store. After that you will be able to compare all the possible pros and cons of both options and make the right investment decision.
In Europe there are two main gold trading hubs: London and Frankfurt.
If your order is placed from Greece, it will be cheaper to ship your gold from Cyprus. But if you are making an order from Poland, the delivery will be made from our warehouse in Frankfurt.
Our logistics system automatically finds the most suitable delivery options, depending on the country of delivery and the stock availability of sufficient quantities of certain trading items. In other words, if you order 100 gold coins from Greece, but only 98 coins will be available in Cyprus at that moment, then your order will be delivered from Frankfurt.
No, we`re not a branch office or sister company of any other company. We have no branches or subsidiaries either in Greece, England, Russia or any other country for that matter.
We speak Greek, Russian and of course we speak English!
No. KDG Gold & Silver Coin Partners it’s a common European company that is not an offshore and pays all taxes and fees according with EU regulations and Cyprus Law.
Yes, of course. There is also an optional additional insurance that costs 0.6% of the order amount.
Yes, of course. We not only buy the coins and bullions that had been purchased from us back, we also buy other gold and silver products that meet the investment criteria and are in satisfactory condition.
If you somehow managed to keep your paper money before the purchase of the gold, what's stopping from storing your gold in exactly the same way?
There are some companies who specify on storing large amounts of gold for private citizens, such as ViaMat and Brink's Global.
ViaMat have been present in the logistics and custody market for 60 years, while Brink's Global have been operating for 150 years so far. In addition, since 2012 you can store your valuables in a secure vault in the open area of the Singapore airport - Singapore Freeport – this vault is owned by the Swiss company Malca-Amit, which has been storing the values of its customers for 40 years.
If you want to custodian and manage of your valuables personally, and not just via any agent acting on your behalf, for the opening of such an option, your physical presence it’s required.
We are sorry, but NO, we don`t. We do not store the valuables, which belong to our customers. It conflicts with our vision. Storing gold receipts means that your gold isn`t tangible. In this matter we agree with Mike Maloney, who said the following:
«If you cannot touch your gold, then you have no control over it».
On the market today there are a lot of proposals to invest in the so-called "paper gold."
This type of investment is characterized by the fact that you do not buy physical gold, but only a receipt saying that you own this gold. Before buying a "paper gold" contract, you have to understand that every gold bullion bar in the world has already been sold «on paper» at least 68 times.
Gold and some ink inscription about some gold on paper - is different things with varying degrees of risk.
That is, in itself, gold, does not carry the risks of third parties. Risks of third parties do not depend on your will and desires. Any paper about gold, it's always all risks from counterparty, which gives you this a paper about gold.
But the burden of all these risks - that's always only your personally problem.
That actually means that each of the 68 people who bought the gold receipt instead of a realand tangible piece of gold sincerely believes that he is the sole owner of the gold, which is stored by someone on his behalf. That`s why we hear the phrase "paper gold is the fools` gold» very often.
Never use acid and (or) the touchstone or electrochemical testers. All these checking methods can damage the surface of the coin and reduce its value significantly. A touchstone can even turn coins into useless scrap. But checking the authenticity of coins at home is still possible.
A comprehensive approach is required. First, we recommend that you get a powerful neodymium magnet as genuine bullion bars and coins can’t be magnetized.
Second, we recommend our clients to purchase and use inexpensive, but very effective equipment for the authentication of coins.
Also scales, accurate within thousandths of a gram, won`t be out of place at all. But unfortunately a non-destructive analysis and an accurate authentication of gold and silver bullions are impossible at home environment.
On this account, cases of forgery gold bars create a higher risk of becoming a fraud victim.
We usually answer this question like this: We get our products directly from mints and reliable suppliers with an impeccable and proven reputation.
These principles describe our company KDG Gold & Silver Coin Partners pretty well. But we not only guarantee the authenticity of our products by dealing with reliable suppliers. We also have our own laboratory. We use the latest technologies and high-tech equipment for non-destructive analysis of precious metal products. All the our products come through a three-stage examination.
This examination consists of X- Ray spectroscopy, densimetry and ultrasonic testing.
For example:
- A piece of wolfram inside an gold bar which is hidden under a thick layer of gold can easily «deceive» X-Ray spectroscopy and densitometry. But wolfram cannot deceive the ultrasonic tester, as the speed of sound broadcast in wolfram, comparing with gold, differs by 1.5 times.
- Ceramic foam placed in a special way in the middle of silver bullion and hidden under a thick layer of silver can «deceive» X-Ray and block the Ultrasonic test. Ultrasound simply cannot go through the ceramic foam, it already is a clear sign of forgery. But it cannot «deceive» the densimeter, as the physical density of the ceramic foam is significantly different from the physical density of silver.
- The presence of additional impurities in the ligature can «deceive» thedensimeter and the ultrasonic test. But the presence of impurities exceeding the manufacturer's standards cannot deceive X-Ray.
We are members of the Cyprus Numismatics Association and we often assist various organizations and private collectors in testing the authenticity of coins.
Checking all purchased from us goods of precious metals in the presence of the Client is our obligatory and integral part of our work.
We recommend you when you visit our office, carry some articles of precious metals, cleanliness and ligature which, you know in advance. On the example of this test of your own products, you can make sure that the objectivity and accuracy of our equipment.
In contrast to gold, silver is widely used in industry. Approximately half of the silver that had been mined in human history has been consumed by industry irretrievably. Due to the competition that had arisen between the monetary and the industrial demand, silver was gradually withdrawn from money circulation in the 60s. The industrial consumption of silver is constantly growing. According to the USGS, by the year 2020 the humankind will be lack of silver, not even of oil. The ratio of gold and silver suitable for mining in the earth's crust is 1:15. This ratio used to be actual for many thousands of years, that was the way silver was evaluated against gold. Our ancestors could exchange one gold coin for 15 equally weighing pieces of silver. Today the value of gold against silver is 1 to 70. This is an artificial and completely unnatural ratio. Whoever goes against nature always loses eventually. It`s just a matter of time. We will inevitably restore the natural proportions. And after that silver will rise in price comparing to gold, 4 times.
Probably the people who have decided to artificially reduce the value of silver are well aware of this. Therefore, silver investments are subject to VAT while investments in gold are exempt from VAT. But even with VAT investments in silver are beneficial for two reasons:
The first reason is the gold to silver ratio, which is called «Gold Silver Ratio» or abbreviated as “GSR Index”.
So, if today instead of buying a single gold coin you can purchase 50 silver coins subject to VAT, then sooner or later there will be a day when you will be able to sell 50 pieces of silver for 3 or 4 gold coins.
The second reason for investment in silver lies in the dynamics of its value. Whenever the price of gold increases by 10%, the price of silver increases by 20%. However, whenever there the price of gold decreases by 10%, the price of silver decreases twice more as well (by 20%).
Some sayings describing the silver market have passed into proverbs:
1. Gold is a "Mercedes” and silver is a "Ferrari".
2. If you expect the price of gold to grow, buy silver to double your profits.
3. Investors in gold are like passengers in a comfortable Boeing. Investors in silver are like fighter pilots.
Over the last 10 years silver has increased in value against the US Dollar by more than 300%. It suggests that at the moment silver is being underrated significantly.
Gold it’s a Currency and a Commodity at the same time. Many experts are arguing whether or not gold can be considered as an "investment" or simply as an "insurance" against inflation. This question has neither right nor wrong answers. Gold is primarily “money", with deflationary nature originally put into it.
The value of gold is growing not only comparing with paper currencies, but also with goods, labour and services. The growth of the world`s population not only generates a constant increase of money supply, but also increases the total volume of goods and services in the world. On the other hand, the growth of the world`s gold reserves due to gold production is approximately 1.7% per year.
The overall production of goods and services in the world, it’s growing at a higher rate. Therefore, the value of gold (its purchasing power) increases not only comparing with paper currencies due to inflation, but also comparing with all goods, labour and services.
The deflationary nature of money (gold) is a basic principle of the Austrian School of Economics. Gold is free of all kinds of counterparty risks. Possession of gold symbolizes freedom and independence. Even after the record decrease for the past 35 years that has been taken place since 2011, during the last 10 years gold has increased in value against the U.S. Dollar by more than 300%.