Here you will find answers to the following questions:
1. How much does a gold bar cost at Goldsaver?
2. How is the price calculated?
3. How much does a gold bar cost at competitors?
4. How often is the rate updated?
5. How is the price of 1 gram of gold determined?
6. Standing orders vs. Goldsaver
7. How high do deposits need to be in Goldsaver?
8. How frequent do deposits need to be in Goldsaver?
9. Can I make transfers from foreign banks?
10. Can I buy a coin instead of a bar?
At a glance
- At Goldsaver, you buy gold at a price calculated based on the current NBP exchange rate, which also takes into account the cost of bar production, logistics and the seller’s margin. We do not charge additional fees related to shipping or electronic payments.
- You decide how much you want to spend on bullion at one time and how often you will buy gold. You can set up a standing order with your bank, and at Goldsaver we also accept transfers from foreign accounts.
- By buying 1 ounce of gold at a “piece”, without having to spend a larger amount at a time, you average the price of bullion, which in the long run gives you the chance to achieve better results. See the following text for a detailed explanation of this strategy.
How much does a gold bar cost in Goldsaver? How is the price calculated?
The price at which you buy gold in Goldsaver is determined based on the current gold exchange rate, calculated by the National Bank of Poland. The NBP publishes the price of 1 g of gold, expressed in Polish currency, once a day on business days at 8 am.
The price of gold in Goldsaver takes into account, in addition to the current exchange rate of the National Bank of Poland, the costs of bar production, transportation and insurance of bullion, as well as the operation of the store. We do not charge additional fees for shipping bars by insured courier or for electronic payments.
Find out what makes up the price of a gold bar.
Paweł Svinarski
“Z Goldsaverem kupujesz fizyczne złoto w formie sztabek, a nie jakieś opcje na złoto czy inne papiery wartościowe oparte o złoto, którego tak naprawdę wcale wtedy nie posiadasz. W dobie niepewności na rynku, warto mieć coś co faktycznie posiadamy pod ręką”
Gold price per g in Goldsaver
The final price of 1 gram gold in Goldsaver is the current NBP exchange rate + 6.9%. A 1-gram gold bar costs about 20-30% more at precious metal suppliers than the current price of bullion, so buying at Goldsaver will be more profitable for you. Thus, you can buy 1 ounce of gold “piece by piece”, at an attractive price, without having to spend more at once.
Where to find out what price I bought gold at?
1. at the time of purchase
After pressing the “Buy Gold” button, a window opens where you use the slider to specify the amount you want to spend on buying gold. Under the amount appears the number of grams of gold we will buy for the amount.
2. in the email confirming the purchase
In the body of the email we will find information about the amount of gold purchased by the amount itself, the email itself also contains an attached named invoice, which includes both the amount of gold purchased, the amount, and the unit price per gram.
3. after logging into the store, in the transaction history
In the transaction history, which is located on the first screen after logging in to your Goldsaver.co.uk account, you can see each transaction with the date, purchase amount, amount of gold purchased, and price per gram.
Coin instead of bar
If you decide that you would prefer to pick up a one-ounce bar instead of a one-ounce coin, you have the option to swap for an additional fee. This fee is a direct result of the price difference between an ingot and a coin – gold coins are slightly more expensive than bars of the same weight due to their greater complexity. And if you have nowhere to safely store the physical bullion you buy from Goldsaver, we offer the option of storing the bars in the Goldenmark vault, fully insured, at no additional cost.
Resale of gold ahead of schedule
You can resell the gold you buy from Goldsaver at any time – both before you buy 1 ounce and after – to us. We will buy the gold back from you at the current NBP exchange rate – 2%. The repurchase price at Goldsaver is a direct result of the tax on civil law transactions, which we have to pay with each transaction. You can resell your physical bar or coin at Goldenmark, a leading supplier of precious metals in Poland, which belongs to the same capital group as Goldsaver. You can find the terms and conditions for repurchasing a physical gold bar at Goldenmark in the terms and conditions.
Amount and frequency of payments
In Goldsaver, you set the amount you want to spend on gold purchases yourself. The minimum purchase is just 50 gold. So you don’t have to spend a larger sum at one time to become the owner of a physical gold bar. The frequency of purchases is also arbitrary – you can buy once a day, once a week or once a year.
You can use convenient electronic payments (via Przelewy24, Blik, Apple Pay or Google Pay) or set up a standing order with your bank and save systematically without having to remember to make regular gold purchases. You can buy gold in Goldsaver from anywhere in the world, and you can also make transfers from accounts in foreign banks.
The prices of one-ounce bars offered by gold dealers vary and fluctuate according to fluctuations in the exchange rate. This is due to the fact that you don’t buy the bar all at once and don’t have to spend a large amount at once. Buying an ounce of gold “by the piece”, you average the price of bullion, and at the same time gain additional benefits, such as full freedom of deposited amounts and frequency of purchases.
If the gold rate goes up, will I pay more for my next purchases?
The price at which you buy gold in Goldsaver is determined based on the current exchange rate, calculated by the National Bank of Poland. The NBP publishes the price of 1 gram of gold expressed in Polish currency once a day, on weekdays at 8 am.
The price of gold is changing all the time. Although it increases in the long term, in the short term it can fluctuate somewhat – both up and down. It is therefore very likely that subsequent purchases will be made at different prices – sometimes cheaper, sometimes more expensive.
A huge advantage of Goldsaver is that by buying gold on a regular basis, in small amounts, we are actually averaging the purchase rate.
Learn more about the advantages of buying gold this way.
Gold rate averaging
Gold averaging is a strategy known as DCA(dollar cost averaging), first described by legendary investor Benjamin Graham. It involves investing the same (or similar) amount of money on a regular basis. Depending on whether the price of an asset (in our case, gold) is lower or higher, this allows you to buy more or less of it. The price of the asset averages out, which, in the case of the gold market and the long term, gives you a good chance of getting better results.
The behavioral aspect is also important here, making it easier for investors to enter a given market by making them aggregate more money than they would be willing to invest at one time. Translating this to investing capital in gold, thanks to the strategy of cost averaging, we are willing to put down more money than if we were to make a large transaction at one time.
Why does the same gold bar at Goldenmark cost less than at Goldsaver?
The price of a 1-ounce (31.1 g) gold bar at Goldsaver is slightly higher than the price of the same bar at Goldenmark. At the same time, the price of 1 gram of gold at Goldsaver is lower than if we bought a 1 gram bar.
Goldsaver is a store designed for people who don’t want or can’t afford to spend a large amount of money at a time (a 1-ounce bar costs more than 8K), but also don’t want to buy small bars, less attractively priced. Goldsaver makes it possible to buy 1-ounce bars “piece by piece,” without spending a large amount at a time, at a price CLOSE to the price of gold in a 1-ounce bar.
More on whether Goldsaver is for you
