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FAQS on the Gold Reserve

Opening a gold reserve

All customers of legal age who are resident in Austria or Germany can set up a gold reserve.

Unfortunately, that is not possible. You can only open an account in your own name, and it is only possible to set up one gold reserve or one customer account per customer.

As soon as the gold purchased each month reaches one ounce in weight, we convert it into a Vienna Philharmonic bullion coin.

Registering at the Münze Österreich online shop or logging in with your access data if you already have an online user account. You can verify your identity free of charge, either online via your online user account or in person at the Münze Österreich shop.

Payments are made in the form of a standing order or a monthly bank transfer. Please pay your chosen amount into our account each month, stating your payment reference.

It is even easier for you to make regular payments if you set up a standing order with your bank.

Please note that the required minimum payment for the period from the 16th of the month to the 15th of the following month is €50.

 

You will receive a confirmation of receipt of payment from us.

    GoldReserve

During the duration of the contract

After every payment you will receive a confirmation of receipt of payment.

You can see your current gold holdings in your customer account at User Account / Gold Reserve.

Gold purchases are made two trading days after the 15th of the month.

The LBMA reference rate (AM/Euro) published at the time of purchase is used as the reference value.

A fee of 5% is charged for the execution of each gold purchase.

You can change the delivery method (personal pick-up, delivery or storage in your gold storage account) in your customer account.

As soon as the gold purchased reaches one ounce in weight (31.104 g), we convert it into a Vienna Philharmonic bullion coin. In accordance with the agreement, this will be sent to your home, stored in your Münze Österreich gold storage account or you can collect it in person. It is not possible to change the shipping method for an order that has already been created.

 

You can see this in your customer account at User Account / Gold Reserve.

For this service, we recommend monthly payments of €50 or more.

The maximum monthly payment for the period from the 16th of the month to the 15th of the following month is €7,000.  Individual payments that result in the monthly maximum being exceeded cannot be considered.

 

It is not necessary to inform us. Please set up a new standing order with your new bank. However, if you terminate your contract, we ask you to note your current account details in your customer account.

Termination

You can terminate your gold reserve contract in your customer account at User Account / Gold Reserve.

Please cancel your standing order with your bank.

The value of your gold holdings is calculated on the 15th of the month (+ 2 trading days). You will receive a breakdown by email.

Payment is made to the account number you provided.

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