Q: What guarantees do I have that the coins and bars I am buying are authentic?
A: Legal tender coins with a particular face value, minted by governments of the country of origin (e.g. American Eagle, Canadian Maple, Mexican Libertad), are not sold by their respective mints with certificates of authenticity. Therefore, we cannot provide a certificate of authenticity beyond the invoice, which spells out the name of the coin and its weight. Usually, legal tender coins are self-authenticating, i.e. the name of the country, weight, and purity of the respective coins appear on the obverse and reverse of the coin itself. In addition, a simple three decimal place scale reading (31.1g), visa vie the verification of the stipulated size of the coin will confirm their authenticity.
Q: Is there a difference between an ounce and a Troy Ounce?
A: Yes. An ounce is a unit of weight equal to one sixteenth of a pound, or 28.348 grams. A Troy Ounce, which is the standard measure of bullion weight, is 31.1034768 grams.
Q: Do minor surface abrasions on the coins and bars affect its value?
A; No, it does not. Most silver bullion coins that we sell do not have numismatic value over and above its silver value, and are not sold for their beauty and rarity per se (although the coins are indeed beautiful). Therefore, even if the coin or the bar may have minor surface abrasions, you are still purchasing one troy ounce of pure silver. More selective purchasers however may choose a ‘cleaner’ coin over one that is not in mint condition. Bullion coins that have been graded by a reputable grading company (e.g. Professional Coin Grading Service [PCGS]) can carry a premium of over 100% of the value of the coin’s silver content. Such graded coins are usually collected rather by numismatic collectors than silver bullion investors.
Q: Can I sell my coins back to Silver-sphere?
A: Yes. However, we reserve the rights not to offer this service, for re-purchasing any bullion coins and bars is conditional on the level of stock held. In addition, we re-purchase only the bullion coins and bars that our clients have purchased from us (invoice is required as proof of purchase). If a sell-back is considered, we will make an offer to the ‘seller’. Please visit the ‘trading buy-back policy’ page for further information.
Q: Why are the prices of the coins and bars higher than the silver spot price?
A: The spot price of silver is the price that mines sell to the various mints and refineries. The silver is then refines and manufactured (minted) into coins and bars, which carries an additional premium. Moreover, since the coins that we sell are minted in the United States, Mexico, Austria, and Australia, the additional premium is accounted for by the import costs (i.e. packaging, shipping, insurance, and the South African Reserve Bank clearance fees).
Q: Do you ship internationally?
A: No, we do not.
Q: What is your return policy?
A: We do not have a returns policy. See buy-back policy above.
Q: Do you place items on back-order when you don’t have sufficient stock?
A: Supply and demand challenges occasionally arise. From time-to-time, we have more buyers than immediately deliverable on-hand stock. Therefore, the service options available in the case of large silver bullion orders that we cannot immediately meet is either a ‘pre-sale‘ (in the case of silver that is already on the way to South Africa), or, a special order for the desired bullion type. Both options commence with a request for a quotation, which is valid only on the day that it is issued.
Pre-sale: once payment is made and proof of payment forwarded to us, the stock is then reserved and it will be delivered as soon as it arrives. This delivery time varies between 1 day to 8 days; it simply depends on where in the import process is the incoming shipment is.
Special order: once proof of payment is received, the availability of the purchased bullion items are guaranteed and will be delivered within approximately 8 days (at most) from the day that the order is placed or the funds have cleared.
Please note that on large orders, the price per unit of bullion on the issued quotations is based on the live price of silver and the exchange rate, and therefore, it is merely provisional. An additional payment may be required depending on the length of time is takes to affect payment once the quotation is issued. This is due to the volatile nature of the silver spot price and the Dollar/Rand exchange rate. For example, if a quotation is given at 9 a.m. (based on the live pricing and exchange rate that morning), and payment is made at 6 p.m., the price may have moved, and thus, the final invoice may reflect a small balance. For this reason, it is important to make payment as soon as possible after the quotation is received. It protects both in a very temperamental and volatile market.
Q: Do you offer any products not currently listed on the website?
A: Through our global supplier network, we seek to expand our product line. If you’re looking for a particular bullion product that’s not listed on our website, let us know and we’ll make every effort to give you a quote. Unfortunately we cannot offer guarantees for special requests.
Q: Are you V.A.T. registered?
A: Yes, we are VAT registered. Our VAT number is 4150263830 Should you wish to purchase silver through your VAT registered company, kindly send all VAT details to be included on the invoice.
Q: What forms of payment do you accept?
A: We accept only two forms of payment, namely, bank transfer (EFT) and cash payments or deposits. Please note that there is no discount on cash payments, and an additional 1% is charged for cash deposits.
Q: How long do I have to make payment?
A: All quotations are valid only on the day in which it is issued, and therefore, payment is required on that same day. To ensure availability, it is advised that payment is made as soon as possible once the quotation is received, for we do not hold stock for later payment, and we operate on a first-pay-first-served basis.
Q: How long does it take to receive my order?
A: Your purchased is shipped out on the day that the funds clear into our account. However, if payment is made after 12 oçlock in the afternoon, the parcel will be sent out the next day, even if the payment clears immediately (afternoon collections must be booked before 12). Most deliveries outside Johannesburg and Pretoria are overnight deliveries. Parcels sent out on a Friday will only arrive on Monday. Remote areas may not be serviced daily and it may take longer to receive your order.
Q: How do you package my purchase?
A: The coins or bars are carefully and discretely wrapped and placed in a sturdy lockable plastic container. Even if the package is thrown around during transportation, the content will remain protected. Moreover, we do not disclose the content of the package, so the couriers do not know what they are delivering. This ensures safety and security for all our clients.