• Gold: $ 1,282.24
      Silver: $ 15.42
      Platinum: $ 804.15
      Palladium: $ 1,356.92

    • Gold: $ 1,282.24
      Silver: $ 15.42
      Platinum: $ 804.15
      Palladium: $ 1,356.92

Precious Metals * Private Vaulting * Refinery

FAQ

FAQ

General

Where is your corporation located?

Byzantium is strategically located in the Cayman Islands on Grand Cayman, in the heart of the Capital, Georgetown.

Vaulting Storage

Can Byzantium store my gold, silver and valuables for me?

Yes. Just select the segregated vault storage option that best suits your needs. Click this link for additional information on Segregated Vault Storage.

Can I visit my precious metals and valuables in vault storage?

Yes, access to a safety deposit box can only be from an authorized owner. You may then view your valuables in our private viewing room.

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When will my products arrive in storage?

Approximately 5-8 business days after your actual ship date depending on where you are shipping from.

How do I pay for my storage?

Payments for the monthly storage fees are paid by credit card online using the My Account section or via bank wire transfer. Simply login and click the Storage Payments tab to view your storage invoices.

Clients may elect to setup a recurring payment or pay for storage fees in advance with a bank wire.

Selling

How do I sell to Byzantium?

You can sell silver and/or gold bullion coins and bars by contacting to Byzantium online during operating hours.

Do I have to pay taxes if I sell my bullion coins for a profit?

That depends entirely on your country’s policies. Consult your tax professional for guidance.

Will you buy back my bullion if the market price goes way up?

Of course. A dealer’s job is to buy from and sell to the public.

Are there any fees when selling to Byzantium?

When completing the sellback process Byzantium will complete your payment to your specified account via wire transfer.

Please note that storage fees may be deducted from your sellback if you are behind on your payments or removing all your metals from storage.

When will I receive my payment?

Payments are generally released within 3-5 business days after receiving once the transfer of title on the contracted precious metals has taken place.

Buying

Why should I buy precious metals?

Please click the link to see our Why Buy Gold page.

I am a jeweler and would like to buy gold product from Byzantium.

Byzantium can assist with purchasing specific products relevant to the jewelry and dental manufacturing industry, such as granules, plate, wire, solder paste etc.

Before new customers can purchase from our retail range of value-added products, an Application to Trade form is to be completed and returned with the relevant documents for security screening. This application form can be requested from our Contact Us page.

Do you carry other precious metals such as platinum, palladium, or rhodium?

Yes, Byzantium has the ability to sell all forms of precious metals.

Do you offer quantity discounts?

Yes, Contact Us with the amount and type of products you are interested in and we will send you a breakdown with product discounts based on your purchase volume.

Can I purchase gold bars from Byzantium?

Yes, Byzantium has swap agreements to deliver to the Good Delivery specification which is a set of rules issued by the London Bullion Market Association (LBMA) and Comex. Byzantium offers various brands of hallmarked gold and silver.

Can I purchase gold on behalf of my client?

Yes, you may, however, both you and your client will need to be authorized by Byzantium beforehand.

Can I purchase gold directly from a gold mine?

No – gold mines do not sell finished product. The gold needs to be refined before sale, and in the Caribbean, this is done by Byzantium. Byzantium then markets and sells the gold to the public.

I would like to buy silver locally in the Cayman Islands.

Please contact us and explain your needs and we will gladly assist you with local purchases.

Can I change my order after my order is confirmed?

No. Once the order is confirmed, it is final.

Can I cancel my order?

No. Once you have submitted your order, Byzantium has already placed the order and all prices are locked-in and final, and we have entered into a binding contract.

You may sell your metals back to Byzantium at prevailing market rates. Should you elect to sell your order back to us, you must do so during normal business hours of 9:00am to 4:45pm Pacific time, Monday through Friday.

Why is your price higher than the spot price?

Spot price can be thought of as an ‘industrial wholesale’ price for the metal. The mints have to be paid to refine or mint it from its original form to products that investors want, so even dealers can’t buy these products at the spot price.

The easiest and cheapest products to make are large bars, like 100 oz. silver bars, or one kilo gold bars, so the premiums above spot price for the larger products are usually the lowest. The premium above spot price typically rises with the smaller products since there is more work involved in producing them.

Are my prices locked in when I place my order?

Yes. Once your order is placed your price is now locked in regardless of new price movement.

Can I return my order?

No. However, you may sell back your order at prevailing rates. Please Contact Us to get a price quote.

Do you charge sales tax?

No, we are located in the Cayman Islands which is a “tax free” jurisdiction.

Do you report my purchase of precious metals to the IRS?

No. We are not required to report our sales transactions to the IRS or any other federal, state, or local agencies.

Do bullion coins come with a certificate of authenticity?

Yes. Each coin or bar carries a statement of weight and fineness that is stamped directly onto it. The coin or bar itself, in effect, bears its own ‘certificate’ from whichever mint or refiner produced it.

If I buy $10,000 or more of precious metals, is it reported?

No. The $10,000 rule only applies to cash transactions, and Byzantium does not take cash. So there is no reporting when you buy.

Do I have to report my gold coin purchases to the Government?

No. No reporting is required to any federal, state, or local government.

How do I bank wire transfer funds?

Upon execution of your order, our system will email you with all the instructions you will need, along with the ABA routing number, etc. Just print it out, and take it with you to your bank. They know what to do with it and it is very simple.

Please make sure that any junk mail filters, or spam filters, have been set to accept emails from Byzantium.ky. PLEASE NOTE: Only one bank wire transfer per order is accepted.

Payments cannot be split for multiple orders nor combined to avoid multiple bank wires transfers.

When do you require payment for my order?

Clients must initiate their full payment within 48 business hours. It may take an additional 24 – 48 hours for Byzantium to confirm receipt of a payment after it has been transmitted. All default orders are subject to our market loss policy plus a $200 redemption fee.

Precious Metals

What is the 'Spot Price'?

The spot prices for precious metals are set by millions of traders buying and selling futures contracts, which are contracts to deliver precious metals at some future date (in other words, gold or platinum IOUs).

It is also the price that large industrial users and the mints pay before converting precious metals into some of the items we carry at Byzantium.

How much should I invest in precious metals?

That is entirely up to you, but with the current state of the world economy, we believe it is extremely important to invest in the safety of precious metals.

Byzantium believes now is the opportune time to be invested into precious metals for both protection and growth.

How many ounces are in one kilo of gold?

Gold is measured in Troy ounces.

One troy ounce is equal to 31.104 grams.

1kg of gold = 32.15 troy ounces

Why are U.S. Eagles and Canadian Maple gold coins so expensive?

The U.S. Mint adds what they call ‘seigniorage’ to all coins they mint. However, you gain back much of the seigniorage when you sell them back to a dealer. When purchasing back from retail customers, all dealers typically pay more for Eagles and other legal tender bullion coins over common bullion products.

Shipping

How long will it take to get my package?

Upon full receipt of your payment, we will request shipment from one of our strategically located distribution centers. Additionally, on each item description page, there will be an estimated ship date of when we expect the item to be dispatched.

With the exception of backordered/delayed items, orders are normally shipped within 1 to 4 business days. International orders are normally shipped within 6 to 8 business days after full receipt of payment has been made.

You will receive tracking information for your packages via email. Delivery of your package can be expected on average within 5 to 10 business days of shipment. At times, we may send your items in multiple packages to complete the order.

What if the products I order are backordered?

If you have ordered a product that is backordered, delivery times will be adjusted accordingly.

You will see the backorder status while placing your order, and you will receive an email confirmation reiterating the backorder status once the order is submitted.

Please note, at Byzantium, your order and purchase price is guaranteed.

Do you ship internationally?

Byzantium can ship anywhere in the United States as well as to over 40 countries worldwide.

We also offer segregated vault storage.

Many international customers elect to have their metals stored in “segregated” vault storage at Byzantium’s facilities in the Cayman Islands. The nominal storage fees can be paid through your Byzantium Account using a credit card.

Click here for additional information on Segregated Vault Storage.

Can you ship my order to a post office box?

If this is what you would like, please make sure to provide the exact delivery address that you want us to use (i.e. no additional street address).

How is my order shipped?

Your order will be shipped via: DHL or Federal Express. Each package is fully insured and requires a signature upon delivery. Transit time can take an extra 2 to 4 business days, depending on where you live, so, with the exception of backordered items, please allow 5 to 7 business days for your goods to arrive.

Remember, your package is not covered by insurance once it has been signed for. Therefore, if you have left instructions with any carriers or delivery service to leave parcels unattended or without the need for a signature, or, if you have given instructions to leave your package with someone else such as a building manager, neighbor, you do so at your own risk.

What if I authorize someone else to receive my package?

Shipments from Byzantium are fully insured and are sent via either DHL, or Federal Express. However, shipments are not covered by insurance once they have been signed for. Therefore, if you:
• Have a signature on file with any of the above carriers, or,
• Have left instructions with any carriers or delivery service to leave parcels un-attended or without the need for a signature, or, if you
• Have given instructions to leave your package with someone else such as a building manager, neighbor, drop-off locations such as Mail Boxes etc., or the UPS Store, etc., or, if you
• Have specified a delivery address where a third party may sign for your shipment, then you do so at your own risk and Byzantium will not be liable for any loss or damage.

May I change the shipping address on my order after I finalized my purchase?

Orders funded with a 100% credit card payment can only be changed to the billing address of the card used. International orders cannot have their shipping addresses modified after the order is placed.

Can my order be held and shipped at a later date?

Orders can be held in our Segregated Vault Storage Click this link for additional information on Segregated Vault Storage. Your order will ship on or near the estimated ship date detailed on your order.

OUR LOCATION

PO Box 2154, Grand Cayman, KY1-1105, Cayman Islands.

Email: info@byzantium.ky

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