How do I open an account?
Use the online application to open your new account. Your account must be funded via bank wire, cashier’s check or personal check. When you open an online account, you will enjoy the ability to instantly place orders and fix order prices. Orders may be placed with guaranteed pricing during normal trading hours (Trading Hours 9:30am-5:30pm CST). Also, you will have 24/7 access to historical quotes, your personal trading history and account details.
What is the minimum amount required for opening an account?
An equity balance minimum of $500.00 is required to open an online trading account. The equity balance is multiplied by four (4) to provide you with that amount of "trading power". For example, you deposit $500.00 into your trading account. You then have $2000.00 of "trading power" to use to either buy or sell gold, silver or platinum (or a combination of metals).
What is the maximum amount I may deposit when opening an account?
There is no maximum limit on how much you may deposit when opening an online trading account.
Must I maintain a $500.00 balance in my account at all times?
No, a minimum balance is not required to maintain the account at all times. However, if you consume your balance in full, then your account cannot sustain any further trading activities until you replenish your balance with additional funds. Your account will continue to remain active even though you will not be able to perform any further transactions until additional funds are sent to replenish your account.
Once I open an account, what do I do next?
Go to the member login and sign in using your username and password that you chose. At this time, you will be at the client control panel. This location allows you to navigate the site, provide you with instructions, view your personal information and orders, view your balance and "trading power", and request a withdrawal of funds.
How do I buy gold, silver or platinum (or a combination of metals) from USBE?
Buying from USBE is now easier than ever! Once you login to your account, select a bullion metal, and then select a coin family member. This will take you to the specific gold, silver or platinum coin or bar of your choice. You will then be able to buy a maximum quantity (in U.S. dollars) equal to your "trading power". Please note that any applicable shipping and/or sales tax charges will be included in your total and this will decrease your "trading power". Click here for detailed instructions.
What is a "buy price"?
A "buy price" means the unit price that you are buying a specific precious metal from USBE.
What is a "limit buy order"?
A "limit buy order" will allow you to indicate to us how much and how many specific items you would like to buy from USBE. The purpose of this is to allow you the flexibility of pricing and quantity buying without constantly monitoring these prices. Your limit may be met in part or in whole. If your limit is met in part, this is called a "partial execution". At that time, your buy price is met but for a reduced quantity and your remaining order balance will stay active until filled or cancelled. USBE cannot guarantee a fill on your limit order.
How can I pay for my order?
Orders must be paid in full within five (5) banking days of completion of the transaction. You will receive an e-mail confirmation detailing the amount owed and your remaining balance and "trading power". Acceptable methods of payment are bank wire, cashier’s check and personal check. Bank wire instructions are found within the "Client Control Panel - Display Deposit and Purchasing Instructions". As you buy, your deposit decreases which in turn decreases your "trading power".
Can I pay for my order with a credit card?
We do not accept credit card payments for any precious metal.
Is my price locked in when I place my order?
When you place and finalize an order, your price is fixed instantly even if fluctuations in the market occur afterwards. Your payment must be received by USBE within five (5) banking days to guarantee your price. If payment is not received within this timeframe, your order will be cancelled and you will be responsible for the difference between your confirmed price and the market price (at that time). The funds used to cover this difference will be taken from your deposit balance - and this will reduce your "trading power".
How do I sell gold, silver or platinum (or a combination of metals) to USBE?
If you would like to sell your precious metals, you login to your account, select a bullion metal, and then select a coin family member. This will take you to the specific gold, silver or platinum coin or bar of your choice. You will then be able to sell a maximum quantity (in U.S. dollars) equal to your "trading power". Click here for detailed instructions.
What is a "sell price"?
A "sell price" means the unit price that you are selling a specific precious metal to USBE.
What is a "limit sell order"?
A "limit sell order" will allow you to indicate to us how much and how many specific items you would like to sell to USBE. The purpose of this is to allow you the flexibility of pricing and quantity selling without constantly monitoring these prices. Your limit may be met in part or in whole. If your limit is met in part, this is called a "partial execution". At that time, your sell price is met but for a reduced quantity. USBE cannot guarantee a fill on your limit order.
Can I cancel or change my pricing on my "limit buy" or my "limit sell" orders?
You can cancel a "limit buy" or a "limit sell" by going to the "client control panel" from the member login. Go to View Pending Limit Orders and look at your pending limits. From this location, you will have the option of canceling any limit you chose. You must enter your password to successfully cancel the limit order. In this same location, you also have the option of updating your limit pricing. You must enter your password to successfully update your limit order.
Can I withdraw my funds from my account at any time?
Yes, you can withdrawal an amount equal to your account balance minus any pending transactions (buys, sells, or limits). This process is completed from the "Client Control Panel" under "Request a Withdrawal". You will be notified via email of the progress of your withdrawl request.
Can I place an order on the phone instead of using the online trading system?
You can buy or sell any bullion products you would like on the phone by calling our Trading Department at (800) 527-1269. However, you will not have the ability to fix pricing or have any additional "trading power" to conduct other precious metals transactions. Your order will be taken and you will be required to make payment on the same day of your order. If you are selling items to USBE, your price will not be locked until we have been contacted with appropriate registration and tracking information on the precious metals products you have elected to sell. Again, this information must be provided to us on the same day as submitting your selling order to USBE to secure your pricing.
How much are shipping and handling charges?
The cost to ship your order to destinations in the United States is dependent upon the quantity and value of the precious metal. Shipping charges can be determined by looking at each metal you are interested in purchasing. Applicable shipping charges will be computed on a per transaction basis.
How is my order shipped and how long will it take to get my package?
Your order will be shipped via U.S. Postal - Registered Insured Mail and it does require a signature upon delivery. Packages sent registered and insured can take between 5 and 7 banking days from the date of shipment. Your package will be shipped depending upon the method of payment you select. Bank wires will ship within three (3) banking days of full payment. Cashier’s checks and money orders will ship within five (5) banking days of full payment. Personal checks will ship within ten (10) banking days of full payment.
Who is responsible if my order is lost or stolen while in transit?
USBE fully insures all of its shipments through the United States Postal Service. If anything should happen to your package while in transit to you, we will assist you in filing a claim with the postal service. We will not accept responsibility for any parcels if you have instructed your delivery service to leave parcels for you without the need of a signature.
Can USBE hold my gold, silver or platinum purchases?
At this time, your purchase cannot be held by USBE in a "pooling account". This type of account allows you to buy gold, silver or platinum without actually taking delivery of your metals. We can arrange to deliver your purchase to you personally or to an independent depository or bank.
Are my purchases reported to the IRS?
We do not report any sales transactions to the IRS.