Bullion – Frequently Asked Questions
1. Is this real? / How do I know it's genuine?
At Bundy Coins, authenticity is our top priority. We use professional testing equipment including XRF scanners, and weight/dimension checks to verify all bullion. We deal directly with Australia’s most reputable mints and refiners, such as The Perth Mint, ABC Bullion, and Ainslie. Every product we sell is carefully tested and guaranteed genuine.
2. What’s the current price of gold/silver?
We base our pricing on the live spot price of gold and silver, which can fluctuate throughout the day based on global markets. You can contact us directly or visit our store for up-to-date pricing. We also occasionally run spot-price sales — follow us on social media for updates.
3. Is now a good time to buy?
While we can't give financial advice, many people buy during dips in the market or when they want to protect their wealth from inflation and currency fluctuations. Bullion is often seen as a long-term store of value rather than a short-term investment. Timing is personal — it depends on your goals and risk appetite.
4. What’s the difference between bullion and coins?
Bullion generally refers to gold or silver bars or rounds produced for investment, typically with low premiums over the spot price. Coins, especially government-minted ones like the Kangaroo or Maple Leaf, are legal tender and often have higher premiums due to collectability, limited mintage, or intricate designs. Both have value — it comes down to your preference and purpose.
5. Do you buy back bullion?
Yes, we do. Bundy Coins offers competitive buyback rates based on the live spot price. Whether you purchased it from us or elsewhere, we’re happy to assess and offer you a fair and transparent buyback quote.
6. Do I have to pay GST or tax?
In Australia, investment-grade gold and silver bullion (typically .999+ purity and in bar or coin form) is GST-free. However, collectible coins or silver products that don’t meet investment criteria may attract GST. We clearly label all our products, and our team is happy to explain what's GST-free and what isn’t.
7. Can I buy anonymously?
For cash purchases under $5,000 AUD, ID may not be required. However, due to AML/CTF (Anti-Money Laundering/Counter-Terrorism Financing) laws, larger transactions must be recorded with proper ID and documentation.
8. Why is the price I pay more than the spot price?
The difference is called a premium. It covers refining, minting, shipping, insurance, and dealer costs. Premiums vary by product, brand, and market demand.
Payments – Frequently Asked Questions
1. How will I be paid?
For buybacks under $5,000, we offer payment in cash (subject to availability). For all other transactions, electronic funds transfer (EFT) is our default method. Cash can be arranged by request for larger amounts, but please contact us in advance to confirm availability.
EFT payments may take up to 3 business days to appear in your account depending on your bank. If your payment hasn’t arrived after this time, please contact us for assistance. Note: We do not make payments to overseas bank accounts.
2. What payment methods do you accept?
We accept the following payment options:
Bank Transfer (EFT): Our preferred method for most purchases.
Cash: Accepted in-store.
EFTPOS/Debit Card: Available in-store
3. Do I need to pay in full at the time of ordering?
Yes. Full payment is required before your order is processed.
4. Can I split my payment across multiple methods?
Yes, we can accommodate split payments (e.g., part EFT and part cash), depending on the total amount and method. Just let us know in advance and we’ll assist.
5. Do you offer lay-by or payment plans?
We do not currently offer lay-by or payment plans. All sales must be paid in full before bullion is released or held.
Selling- Frequently Asked Questions
1. Who can sell bullion to Bundy Coins?
We purchase bullion from both individuals and businesses. Individuals are welcome to bring their bullion to our showroom, provided all required identification and procedures are met. For business clients, buybacks are assessed on a case-by-case basis, and pricing or requirements may vary depending on quantity, supplier history, and compliance.
2. How do I sell my bullion?
Selling to Bundy Coins is quick and straightforward. Just visit our showroom with your bullion and valid photo ID. We use non-invasive, industry-grade testing technology that verifies authenticity in under a minute.
You can choose to be paid via bank transfer or in cash (where eligible). For larger transactions, or if you prefer cash over $5,000, we recommend contacting us in advance so we can allocate the necessary time, space, and cash availability for a smooth process.
3. Can you test my bullion even if I don’t want to sell it?
Yes, we offer in-store testing services. Fees may apply depending on the quantity and type of items you want assessed — just ask us in-store.
4. Do I need to pay any fees when selling?
No selling fees apply. We offer competitive rates based on live market prices with no hidden charges.
5. What types of bullion do you buy?
We buy gold and silver bars, coins, and rounds from reputable mints, including The Perth Mint, ABC Bullion, Ainslie, PAMP, and others. If you're unsure, bring it in — we'll assess it on the spot.
