Buying and Selling Bullion and Certified Coins
Holding Period and Investment Diversification
Bullion and certified coins which are being purchased for inclusion within an investment portfolio should be considered long-term investments. Harvestor Investments does not give investment advice, but recommends a holding period for bullion and certified coins of at least three to five years or longer. An appropriate holding period increases chances for profit, may differ from product to product, and may be longer in duration during periods of changing market conditions or increased market volatility.
Pricing Policy
At Harvestor, we take pride in having some of the lowest prices in the industry. We have a competitive pricing structure and pass our low cost on to our customers.
Product prices are set internally, and are constantly changing. Many considerations, internal and external including market conditions, demand, supply, competitors’ promotions, company performance, and general expenses, may contribute to the cost of purchasing coins from Harvestor Investments. Our prices are not necessarily related to, or affected by the prices at which other dealers or institutions buy, sell, or value the same or similar coins. The difference between our sell (ask) and buy (bid) prices is referred to as our bid/ask spread. That spread is continuously fluctuating depending upon market conditions. Historically our bid/ask spread has experienced ranges between 1% and 10% on commonly traded bullion products, and between 10% and 25% on certified coins. Spreads may decrease or increase over time, and bids may change such that the total value of coins purchased may decrease or increase by more than the amount of the bid/ask spread.
Coins must appreciate by more than the amount of the bid/ask spread before they can be sold at a profit.
Example 1: a bullion coin is purchased for $1200, at a 5% spread (so our current bid price at that time would be $1140), the coin must appreciate by more than $60 before it can be sold for profit.
Example2: a certified coin is purchased for $1000 at a 10% spread (so our current bid price at that time would be $900), the coin must appreciate by $100 before a profit is realized.
Payment, Cancellation, and Return Policy
We accept payment by bank wire and credit card on purchases of bullion, semi-numismatic, and certified coins. We do not accept cash, personal check, or money order. Harvestor does not charge any additional fees for credit card use, but may offer cash discounts in the event payment is made via bank wire. Bullion orders may only be paid via bank wire when the order is placed via telephone with a live representative and the price will not be fixed (locked in) until good funds are received and a tape recorded telephone confirmation is conducted. Prices for all orders placed via credit card through the online store are fixed (locked in) at the time of purchase once credit card payment has been completed. You should never go into debt to make an investment.
All bullion and certified coin sales are final. There are no refunds available on bullion and certified coin items. Harvestor extends the right to all first time customers to cancel certified coin and bullion transactions at any time and for any reason up to seven (7) calendar days after the date on which the transaction was confirmed. All second and subsequent certified coin orders are final on completion of a tape recorded confirmation, and refunds will not be issued under any circumstances except where expressly guaranteed by individual state law and in accordance with specific provisions thereof.
Storage Policy
Harvestor Investments does not offer storage for clients. All products must be shipped to client’s personal or business address, or to a third-party depository at which the client has an open account and has the means by which to accept and securely store precious metals.
Delivery of Goods
All products shipped by Harvestor, or fulfillment houses, are fully insured until signed for by the recipient. Orders paid by credit card will not ship for at least five (5) business days after receipt of payment. Orders paid by bank wire may be shipped sooner, depending on current availability and inventory. Shipping times are affected by many factors outside of Harvestor’s control and may change at our discretion without prior notice to customers or potential customers. Harvestor makes no guarantee, expressed or otherwise, concerning shipping times on all orders, except where individual state law dictates otherwise. Lost or damaged shipments may be replaced at Harvestor’s discretion either by replacing the order as originally confirmed, or by refunding the customer’s purchase price. Refusal to accept packages or returning packages to Harvestor, or the fulfillment house, does not entitle customer to a refund. Packages returned to Harvestor will be considered for liquidation, and will be liquidated at the then current bid price, which may be less than the original purchase price. Any discrepancies in deliveries must be reported to Harvestor within twenty-four (24) hours of receipt of the package, and all original packing materials must be retained and reasonably intact. After the expiration of 24 hours from the day the packages are received, Harvestor assumes all deliveries were received as ordered and will not address any discrepancies.
Buying Policy
Harvestor offers a two-way market for all products listed in our product portfolio, whether or not they were originally purchased from Harvestor. Though you may choose to sell your coins elsewhere, or have them auctioned, we have found that we often offer higher prices for coins than those which are widely offered elsewhere. The current bid price which we offer for coins is determined by market conditions, supply and demand, inventory needs, current promotions, and other considerations, and may be more or less than the original purchase price. Harvestor makes no guarantees expressed or otherwise that profit will be made when selling coins to us. We are legally prohibited from guaranteeing our buyback policy. As such, the policy is subject to change at any time and for any reason.
Precious Metals IRA and Custodial Information
Harvestor Investment may suggest custodians through which physical gold Independent Retirement Account (IRA) transactions may be transacted. These companies are independent of Harvestor and we share no responsibility for loss or dispute arising from relationships between Harvestor’s customers and such custodians. You should do your own due diligence in selecting which IRA custodian you wish to use.
Risks, Future Growth Projections and Tax Liabilities
Investing in bullion and certified coins involves risk. Precious metal markets are currently unregulated, speculative and constantly changing. Historically precious metals have always retained some value, but Harvestor makes no guarantee that metals purchased from us may be sold back at a profit, or that an investment can be made without risk of loss of principle.
Past performance does not guarantee future results.
All projections we make of future growth are based upon past performance, historical analysis, and research, our projections are our opinion and do not guarantee future growth or retention of value. Markets are constantly changing, and though individuals and institutions may make educated predictions regarding the future of precious metals, investments, and the economy, such predictions cannot be made with certainty. The price of bullion products is derived primarily from the value of the metal they contain; semi-numismatic and certified coins have numerous other factors that contribute to value. These factors include the value of the metal from which the coin is made (intrinsic value), speculative interest, collector and investor demand, available supply, promotions within the industry affecting demand and supply, perceived value, general economic conditions, and many other factors both known and unknown. These coins may increase or decrease in value, regardless of and at times in opposition to changes in the spot price of precious metals. Grades and descriptions of coins are opinions based on guidelines, standards and interpretations that can and do change over time. Harvestor guarantees that all the coins we sell are genuine, we expressly disclaim any other warranties, expressed or implied, including the implied warranties of merchantability and appropriateness for a particular reason or investment strategy.
Harvestor makes no attempt to confirm the suitability of any product for any particular customer at any time; investing in precious metals and coins is not appropriate for everyone. It is the responsibility of the investor or collector to educate themselves and consider all risks, prices, and policies relating to their purchase or their intended purchase.
Harvestor never gives tax advice, any and all questions pertaining to tax liability and benefits should be directed to a certified tax accountant. Harvestor makes no guarantees expressed or otherwise as to the tax benefits of owning any product at any time.
Our Employees
At Harvestor we take pride in delivery excellent customer service and maintaining a staff of helpful and knowledgeable representatives and support staff. While we make every effort to hire and train staff with experience within financial markets, Harvestor’s employees are generally not licensed financial advisors, and therefore are not authorized to advise on the purchase or sale of any asset or advise on any specific investment strategy. While Harvestor makes every effort to keep our prices very competitive, our representatives are commissioned salespeople, and may receive higher compensation for recommending one product over another. Representatives and staff are not permitted to amend or alter any policies set forth in this document, including pricing, returns, or guarantees. Any statements, warranties or guarantees made by an employee of Harvestor that contradict what is stated in this document are not binding to the company. Please consult a licensed financial advisor familiar with the specific markets in which you are involved before liquidating any current investments to purchase precious metals. Harvestor does not give tax advice, and will not advise as to the tax consequences of purchasing and selling precious metal products. Investors should consult a licensed tax advisor with any questions regarding the issues of taxation.
Trading One Product for Another
Harvestor does not recommend trading one product for another. In such transactions the customer pays the bid/ask spread on both the original product purchased and the product for which the trade was conducted. There is no way to know with certainty that any particular product will outperform another product. Harvestor may, at our discretion, help facilitate a trade from one product into another, but in such situations, customers should educate themselves about any and all consequences of such transactions.
Privacy and Protection
Before purchasing precious metals, investors should make arrangements for the storage and safe keeping of their products. Should you choose to sell bullion or certified coins to Harvestor,, you may mail them to Harvestor at our secured receiving facility at 80 W. Sierra Madre Blvd., Suite 411, Sierra Madre, CA 91024, via registered, insured US Mail. Such packages should be independently insured through the mail carrier used and Harvestor accepts no responsibility for packages until signed for by a Harvestor employee. Packages being mailed to Harvestor should not indicate or show any reference, in any way, to the coins, bullion, or precious metals enclosed. Speak with a Harvestor representative before shipping packages to ensure all procedures are executed correctly. Never tell the carrier or post office personnel what you are shipping.
Telephone calls are often monitored and/or recorded to assure quality customer service and policy compliance. Harvestor reserves the right to contact you even if you are listed on the national or state Do Not Call registries. Should you wish not to be contacted by Harvestor, please request to be placed on our Do Not Call list. In doing business with us, you agree that any dispute with us which can’t be resolved informally shall be submitted to binding arbitration. Proceedings will be held in the strictest confidence and with neither party entitled to recover consequential or punitive damages or attorney’s fees from the other party.
This document, along with any agreements, marketing materials, company policies and other company information may be amended or altered at our discretion. We update such documents as needed, and it is your responsibility to request updated copies or to view them on our website at www.harvestorinvestments.com.
Should you hear anything contrary to the policies and procedures set forth in this document, it is important that you contact us immediately at 888-726-5558, to report any discrepancies.
Summary
The most important step in any investment decision is education. Before investing in any asset, including bullion, certified coins and precious metals, you should have a thorough understanding of the costs, risks, and other considerations involved. We take pride in our knowledgeable staff and excellent customer service, and we hope we are able to assist you in educating yourself regarding these products. It is the responsibility of the individual investor to determine what percentage of their total assets should be invested in any particular asset class; therefore it is recommended that you make no investment decisions without first consulting an independent financial advisor. Ensure that you can hold your investment for at least 3 to 5 years, to maximize potential for profit and minimize potential for loss, and do not go into debt to purchase bullion, precious metals, or certified coins. Financial markets fluctuate, assets can rise and fall in value, so do your best to make educated and reasonable investment decisions.
