Q: Why do you ask for a copy of a drivers license or other information on certain orders?
A: As a Money Services Business, we follow guidelines from the US Treasury Department regarding transactions where secured funds are involved (cashiers checks or money orders). The US Treasury Department regards these transactions as cash transactions. These rules were set up to identify people who might be illegally laundering money, and are known as the “know your customer” rules, outlined under the Patriot Act Compliance guidelines.
The information that we collect is not shared or used for any reason other than it must be made available in the event we are audited. We only require a driver’s license or other information when the IRS or FinCEN guidelines dictate we do. For orders greater than $10,000 US dollars, a social security # for the individual placing the order or the T.I.N. # (tax identification number if ordered through a business) is required in addition to your government issued I.D. This will be required prior to the shipping of your currency. Any questions should be brought to our attention for further explanation. Should this situation arise with your order, please note we require a legible fax or scanned email image of your drivers license before we will ship the order to you. You can scan your license and email it to email@example.com or fax it to 801.881.5558.
Q: What if I can’t find the answer to my question on the website?
A: Please contact us by email at firstname.lastname@example.org, or phone us at (888) 348-2441 with any questions you may have.
Q: When am I considered "Locked In"?
A: You are "Locked In" at the current buy rate at the time you place your order. As long as you send in your payment for that order within 1 Business Day via Bank wire or Live funds in the form of a cashier's check, certified bank check, or money order. This does not apply to Personal checks.
Q: Where do the currency notes come from?
A: They come from the National or Central bank of the specified country.
Q: Do you offer any investment advice?
A: No, absolutely not. We are not investment advisers, financial consultants, or in any way authorized or licensed to provide you with counsel. We specialize in the buying and selling of foreign currencies only. Please do your own research, review your current financial situation, and purchase with prudence and care. Purchasing foreign currencies is always a risk, especially those of third world countries, and you should be aware that you are doing so at your own risk.
Q: Where can I go to check the official rates of exchanges for different world currencies?
A: You can find currency converters on many different sites throughout the web. XE.com and ForexPros.com are two sites Treasury Vault uses when verifying information. Also, for official verification on a specific country's currency, you should always double-check that specific country's OFFICIAL website..
Q: Can you handle large orders and are there any special requirements for them?
A: Yes, we can handle orders of any size. Please contact us directly on rates for orders $25,000 or more. Be advised that for orders greater than $10,000 US dollars, a social security # for the individual placing the order or the T.I.N. # (tax identification number if ordered through a business) is required in addition to your government issued I.D. This will be required prior to shipping.
Q: What happens if your currency price goes down?
A: If our prices go down, you will NOT receive a price adjustment on orders placed prior to the change. ALL SALES ARE FINAL! We reserve the right to change our asking price of the currencies we sell without prior written or verbal notice, and at any time.
Q: Can I exchange or return the currency that I have purchased from Treasury Vault?
A: We do not allow returns, as all sales are final. However, we do offer a “buy back” or sell option for Iraqi Dinar. We are willing to pay a fair market rate for the currency presented for purchase. Please review the information within the “Currency Buy-Back” section at the top of the site for step-by-step instructions on how to proceed with this process. Should you have additional questions about this, please feel free to call us.
Q: DoesTreasury Vault have to honor all orders placed, so long as payment is received?
A: We reserve the right to refuse any orders. However, if we already received your payment, then chose to not honor your order, you would be FULLY refunded in a reasonable and timely manner.
Q: What are the risks that I assume in purchasing foreign currency?
A: Risks include:
- There are limited places that will exchange them for you (liquidity issues).
- There is no guarantee that the value of the currency you exchange for will go up in value in relation to the dollar.
- The value of the currency you purchase may go down in value in relation to the dollar.
Q: How do I know the Iraqi Dinar notes are authentic?
A: Our Dinar gets processed through a De La Rue branded authenticity verification processing machine prior to shipping. De La Rue, located in the United Kingdom, is the company which prints the Iraqi Dinar for the government of Iraq. There are many varying security features for you to check and different denominations can also vary in size. We have taken extreme steps to verify the authenticity of the dinar notes we send you, and even more steps through our scanning of the notes and their serial numbers. The notes themselves have at least FOUR built-in security features and the 10k and 25k have FIVE. Common features are raised lettering, raised numbers, and unique coloring. Some of the additional features included are:
- An ultraviolet feature that glows the value of the note
- Embedded security thread
- Horse head watermark
- Metallic ink
- Color changing symbol
GOLD & SILVER FAQs
Q: Who Can Buy Treasury Vault Certified Bullion Products?
A: Our clients vary from private individuals to corporations, collectors, dealers, foreign governments, investors and speculators. Whether you are looking to make a single small purchase or buy large quantities on an ongoing basis, we welcome your business.
Q: Are bullion coins legal tender?
A: Yes, if issued by a government with an indicated face value. However, while rounds issued by private mints are not considered legal tender, they are still considered to be a primary store of value, as they are linked directly to the precious metals market and often viewed as a strong hedge against inflation. Furthermore, they are a highly liquid vehicle and can be easily transferred into cash. Additionally, gold and silver coins recognized as legal tender can vary by state just as Oklahoma, Utah, Texas, and Louisiana affirm them as legal tender in the payment of debts in their state.
Q: What is a pure silver round? What is a pure gold round?
A: To be “pure", Silver has to be three nines FINE (.999% pure silver) and Gold has to be four nines fine (.9999% pure gold). Additionally, a “round” is any coin NOT minted by government.
Q: Do your rounds come boxed or protected?
A: Yes. Typically, all silver and gold 1, ½, ¼, and 1/10th Troy Ounce rounds come packaged in air-tite plastic tubes depending on volume. The tubes are constructed with heavy-duty plastic, round on the inside and square on the outside, so they stack together neatly and will not roll around. All gram gold rounds are sealed into air-tite laminated cards.
Q: Are your rounds legal tender?
A: No. Legal tender can only be issued by governments, whether in coin or paper money form. However, our rounds are considered “industry standard” bullion rounds and are purchased by individuals, banks, corporations, coin dealers, etc., as they are considered a safe store of value, due to meeting strict weight and purity requirements. Furthermore, our products can often be purchased for a fraction of the premiums charged by governments for their silver and gold products, resulting in your ability to purchase higher volumes of gold and silver than if you had purchased government issued products. Finally, governments, such as the US Treasury, often purchase their bullion rounds (blanks) from private minting facilities, and then simply strike the round into its final form. Consequently, when buying privately minted bullion products, you are buying products often manufactured in the same facility as government coins, but at lower premiums.
Q: We own Silver Eagles, but don’t know what rounds are?
A: Silver Eagles are U.S. Government legal tender and are labeled as “one dollar,” even though the value of the silver is many times that. Because it is considered U.S. legal tender, you will pay a premium of, often, 200-500% more than a privately minted round…same amount of silver, just a higher price! In times of emergency, the quantity of the silver itself and its utility is the important consideration, not whether it’s a government minted coin, regardless of whether that government is solvent. Ironically, all U.S. Silver Eagle blanks are manufactured by the same private mints who issue privately minted silver rounds, using the exact same process. The U.S. Mint only stamps the image onto the blank created by private industry, then charges a much higher premium than identically made private mint rounds.
Q: Do you sell half-dollars, quarters, and dimes?
A: No. Those names are for “legal tender” junk coins minted by the U.S. Government. “Junk coins,” because they are not pure, they are circulated and have no rarity value. Treasury Vault manufactures CERTIFIED PURE SILVER ROUNDS. We sell them in one ounce, half ounce, quarter ounce, and tenth ounce sizes…all pure (.999 fine), just different sizes.
Q: Do you have a minimum order?
A: No. We are happy to sell any quantity you desire. However, minting fees incrementally become lower as the purchase quantities increase.
Q: Do you have a maximum order?
A: No. There is no maximum limit to purchasing Treasury Vault Bullion products unless an unforeseen event effects supply of the precious metals.
Q: How can I be sure of the purity of the bullion I buy?
A: Every product produced by PCB has either a mint mark stamped into the product itself, or Mint-Master initials next to the certified criteria. Typically, the bullion itself serves as the certificate of authenticity, as the mint mark, weight, and fineness are stamped directly onto it. PCB links each product we produce to a specific chemical analysis, known as an assay, which is completed by our LBMA approved refinery and ensures our stated purity standards.
Q: Is Gold Illegal to own?
A: No. However, from the period of 1933 to 1974, it was illegal for U.S. citizens to purchase gold without a license. In 1975, these laws were overturned and it is now completely legal to purchase and own gold without any governmental restrictions.
Q: Are there limits on how much gold I can own?
A: No. There are no gold ownership restrictions in the United States.
Q: Do I have to report my precious metals purchases to the Government?
A: No. There are no Federal, State, or local laws which require you to declare your precious metals purchases.
Q: Are there taxes if I sell my bullion for a profit?
A: Yes. Either long-term or short-term taxable gains may apply to profits from the sale of precious metals. Consult your financial advisor.
Q: Are precious metals purchases of $10,000, or more, reported to the government?
A: Our understanding is that they are if bullion purchases involve cash totaling $10,000, or more, but that no reporting is required on transactions involving bank wires or single checks. Currency laws involving cash amounts over $10,000 were specifically designed to impede illegal activities. Treasury Vault does not engage in any cash transactions of any amount for currencies or commodities.
Q: Will you buy back my bullion if the price goes up?
A: Yes. Precious metals prices are relative and live. As market spot prices rise, prices are simply adjusted based upon how many dollars will buy an ounce of a particular precious metal at the then current market prices. Costs associated with striking particular rounds, current inventories, and other market conditions may effect buy back pricing.
Q: Will you, the Dealer, buy back my bullion at the same price I paid for it?
A: No, as there is a term known as “spread,” which is the difference between what a dealer pays for the metal and what he sells it for. The spread is simply what allows a dealer to stay in business and is comparable to any manufacturer selling a product for more than what it costs them to produce. Do to the extremely competitive nature of the precious metals industry, this spread, or profit margin, is extremely small, in comparison to other industries. Treasury Vault is highly committed to keeping this spread as small as possible for our clients and, in turn, enabling them to buy more precious metals for their money. Moreover, spot prices fluctuate continually and therefore change market prices.
Q: Can I buy precious metals and put them into my IRA?
A: Yes you can. Click here to LEARN MORE
Q: Why can’t I buy at spot?
A: The “Spot” price of any precious metal represents an arbitrary price at a specific moment in time for a specific quantity of raw metal in a paper “contract.” It is basically a market ‘gambling’ price and not an actual price for which a finished coin, round, ingot, or item of jewelry can be purchased. One of the main reasons for buying precious metals is for financial self-protection as a hedge against inflation. In that case, utility is far more valuable than the original cost. Learn more about the subject in our blog.