How GOLDU Buys Back Gold: Prompt Payment to Your Account
Besides selling investment gold and investment silver, GOLDU also buys back investment gold (we do not buy back investment silver). The general principles of selling safely are summarised in the article How to safely sell investment gold. In this article we focus on how the buyback works at GOLDU in practice – and why one particular detail is decisive for many clients: how quickly they are paid.
How the buyback works at GOLDU, step by step
An in-person buyback always takes place by prior appointment (by email to info@goldu.eu or by phone) at our registered office at Vyskočilova 1481/4, Prague 4. On site, the authenticity and condition of the product are checked – weighing, inspection of hallmarks and the manufacturer’s certificate, and testing with the Sigma PRO device (an electromagnetic authenticity tester for precious metals). Based on these parameters, the current market price of the metal and the product’s marketability, the final buyback price is set, which the client approves before the transaction is completed.
Transparent buyback price right on the product page
For a large part of the bars and coins we offer, you will find the current buyback price directly on the product page at goldu.cz. So you do not have to wait for an individual offer – you can see in advance the approximate amount for which GOLDU will buy the product, and the price is updated continuously in line with the precious metals market. For products without a stated buyback price, GOLDU prepares an individual quote based on the product type, condition, origin, fineness and weight.
The main difference from other buyers: prompt payment to your account
With many precious metal buyers it is common to wait days, sometimes even weeks, for your money – whether because of internal approval processes, waiting for “verification at the refinery” or because they only pay once the goods have been sent on to a third party. GOLDU does not use this model. As soon as the client agrees to the buyback price, the amount is sent promptly to their bank account – without unnecessary delays and without waiting for additional approvals. Payment can also be made in cash, but always in line with the applicable AML/KYC client identification rules.
This approach is based on the fact that GOLDU buys products directly, without intermediaries – so there is no need to wait for price confirmation from any other party in the chain.
Transaction security
The entire in-person buyback takes place under camera surveillance with recording – for the client’s safety and to protect property. Detailed conditions are set out in the document Conditions for the purchase of investment gold.
What to prepare before your visit
- The product in its original, undamaged packaging – damaged packaging or a missing certificate can lower the buyback price or make the sale impossible.
- Certificate of authenticity, assay card or serial number, if available.
- An identity document to meet AML/KYC identification.
- For higher values, also proof of the product’s origin/acquisition, which GOLDU may request in justified cases.
How the selling and buyback prices differ
The buyback price is always lower than the current selling price of the same product – the difference (spread) relates to production and distribution costs and the dealer’s margin. This is explained in detail in the article Gold buy and sell price: the spread.
Frequently asked questions
How quickly do I get my money after a buyback at GOLDU?
Once the buyback price is agreed, payment is made promptly to a bank account in the seller’s name, in line with AML/KYC rules.
Do I need to book an appointment for a buyback?
Yes, in-person buybacks take place only by prior appointment by email or phone.
Does GOLDU also buy products from other manufacturers, not only those sold on goldu.cz?
Yes, the buyback covers investment gold bars and coins in general (we do not buy back investment silver), provided they meet the requirements for authenticity, completeness and marketability described in the buyback conditions.
What if I do not have a certificate for the product?
A buyback is possible even without a certificate, but its absence may affect the buyback price or the assessment of the product’s marketability.
This article is not a binding promise of a buyback. There is no legal entitlement to a buyback; the binding terms are set out in the Conditions for the purchase of investment gold.
About the author
Natálie Pokludová – without whom everything at GOLDU would grind to a halt, stop working and never get finished. While the others come up with ideas, she makes sure things actually run. Someone has to drive the car.
