Home » Services » Bullion deliveries and buybacks
The Melbourne Vault is independent of any bullion dealer and does not sell or buy bullion directly with it’s customers. This means you have flexibility to buy from any bullion dealer and bring your precious metal in to store in your safe. Alternatively you can buy from participating bullion dealers who will deliver your bullion directly to us and so saving you the personal risk and time of picking up and walking to us with your bullion. This is part of our Bullion Deliveries and buybacks.
Conversely these same bullion dealers allow you to sell back to them by handing your metal to us, allowing us to check it, us providing proof of handover and allowing them to then pay you directly. Again this means you are never walking around town with your precious goods exposing them and your own personal safety in the process.
Bullion delivery refers to the physical delivery of gold or silver in the spot market. A buyer who wishes to take delivery of their purchased metal needs to request this from their seller, and the seller will then arrange for the delivery. The process usually takes a few days, and once the metal is delivered, it becomes the property of the buyer. Some buyers may choose to take delivery of their purchases if they wish to hold the metal in storage, or if they plan to sell it at a later date.
Bullion buybacks refer to when a dealer buys back gold or silver from a customer. This can be done for a variety of reasons, but most often it is because the customer no longer wishes to hold onto their metal. Buybacks can also be done if a customer wants to cash in on their investment but does not want to go through the process of selling their metal on the open market. In most cases, dealers will offer a lower price for buybacks than what was originally paid for the metal, as they will need to cover their own costs associated with storing and reselling the metal. However, some dealers may offer competitive prices for buybacks, depending on current market conditions.
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