Frequently Asked Questions

LIVE SPOT PRICE AND OWNX BASE PRICES

While metals markets are open across the world, gold and silver prices can change from one moment to the next. A spot price is a snapshot at a given point in time, of the current spot market price for gold or silver.
Each business day when the metals markets are open and actively traded, we acquire large quantities of gold and silver to replenish metal that is allocated to each client making scheduled purchases. The price we receive becomes the OWNx base price. Over the years the OWNxBase Price has averaged within pennies +/- of the London Daily Fix.
Live pricing is obtained from a third-party data feed. A data feed is a mechanism for users to receive updated data from multiple sources. It requires structured data and a centralized data management system to collect, normalize and integrate multiple data feeds. Major providers include Thomson Reuters, FactSet, Capital IQ and Bloomberg.

SELLING

“Automatic Sell – Scheduled” : By selecting this tab you will schedule your sell to automatically happen at the next daily base price.
“Sell Now – Live” : by selecting this tab you will sell at the live price that is quoted to you.

OWNx CASH ACCOUNT

Yes, your OWNx Cash Account is primarily used for purchasing gold and silver according to a live price by selecting “Buy Now – Live.”
When you sell metal, using “Sell Now – Live,” the proceeds are automatically deposited into your OWNx cash account. When selling using the Daily Base Price, you can choose to have the proceeds of the sale deposited into your OWNx Cash account.
There are three ways to deposit into your OWNx Cash Account.
1. From your bank account via ACH.
2. Via wire transfer (typically for larger amounts).
3. By selling metal held in your account.
Yes, each client has “pass-through” FDIC insurance on the money that is deposited into their cash account, up to $250,000.
On a normal banking day, you have until 9pm (Central time) to schedule a deposit for the next banking day. After 9pm and on holidays and weekends, the earliest you can create a schedule for is +2 business days. I.e. scheduling on Friday at 10pm or on Saturday: the earliest you may select is Tuesday. Scheduling on Friday at noon: you may select Monday.
The funds will be available for you to purchase metal with, on the morning of the date that you scheduled the deposit to take place. You may use these funds to make a purchase using a live price transaction 24x7x365 without exception.
At any time you may request a withdrawal from your OWNx cash account out to your linked bank account. Please allow 2-3 business days for the money to show up in your bank account.

REDEMPTION – PHYSICAL DELIVERY

Each delivery request must consist of at least 20 oz. of silver or 1/2 oz. of gold.
From your homepage: Click on “Take Delivery”
Select which account and click “OK”
Specify the quantity of each form you want shipped to you
Scroll to the bottom of the page click “Submit Order”
After reviewing your delivery order click “Submit Delivery Order”
Subject to individual item availability, we keep a wide selection of items from well-known mints and refiners. Visit our Delivery page for more information.
Large bars (1,000-oz Silver and Kilo Gold) are delivered at no additional cost.

For other items that have an additional cost for us to obtain, there is an exchange cost. A vast majority of this cost is for the fabrication or premium for that specific item. For example, if the market price for silver is $20 per troy ounce and American Silver Eagles cost $3.00 per troy ounce for us to obtain, that is a 15% additional fee that we merely pass along to you. The remainder of the exchange cost includes shipping, handling and insurance.

The exchange cost is currently paid as an additional amount of metal added to your delivery transaction.

Orders typically ship within 2-3 business days. To prevent gold and silver sitting in shipping warehouses over the weekend, we normally do not ship out on Fridays. If your package is being sent to a residential address delivery time ranges from 2-5 business days from the time of shipment. For packages going to a PO Box, delivery can take slightly longer and has less precise tracking.

STORAGE

There is a small storage fee of 0.05% per month. This fee is deducted from your account automatically on the first of each month in gold or silver. For example, if you have 20 ounces of silver in your account, it would amount to .01 troy ounces of silver.
Your gold and silver is allocated and titled in your name, fully insured and stored at First State Depository a world-class non-bank facility located in Wilmington, Delaware. Learn more about storage.

REWARDS

OWNx provides you with your own rewards link or Share-Code that you can give others when they sign up for their OWNx account. Once they do, up to 25% of the premium (markup) for their transactions is added to your account in silver or gold each time they save. You will receive silver when those you refer save in silver and gold when they save in gold. You will continue to be rewarded as long as you have made a purchase in the past month.
Simply start saving again and you will be eligible once more.
Log in to your account, roll your mouse over “Account Profile” in the top navigation bar then click on Share Now! You will then be presented with various methods on how to share. The Easy-Share method is the simplest way.
Log into your account, roll your mouse over “Account Profile” in the top navigation bar and click on My Rewards. For security purposes, you will not see individual names but you will be shown the total number of people with whom you have successfully shared OWNx.
To qualify for Silver and Gold Rewards, you must have made a purchase in the last month. The other possibility is that your referral has created an account, but has not made any transactions yet.

PRIVACY and SECURITY

Sensitive information such as password, bank information and answers to your security questions are encrypted and stored in a secure location with strict access controls. Information transmitted between you and OWNx.com is also encrypted. Encryption on the website site is powered by Digicert.
Your privacy is very important to us and is safeguarded by our Privacy Policy which you can view here.
Your silver is safely stored and insured at First State Depository Company, LLC located in Wilmington, Delaware. First State is a fully insured, world-class non-bank depository.

GENERAL QUESTIONS

There are several differences but unallocated versus allocated is the central difference between a “pool account” and OWNx.

Allocated:
This is how OWNx operates. Allocated silver or gold is very simple. The metal is held on behalf of the account holder under a custody agreement. It is held at a depository titled in your name as your outright property. The metal is neither the property nor liability of the depository. With this type of agreement it is not subject to any third party creditors. You initiate every transaction via OWNx.com. At the time the transaction is completed, ownership transfers from OWNx to you and is held in custody at First State Depository, until at your instruction you decide to sell the silver back or initiate delivery exclusively via OWNx.com.

Pool:
OWNx does not operate using pool accounts, though others do. In a pool or “unallocated” account the account holder does not have title to the silver or gold he/she has “purchased.” Rather, in reality what the investor has “purchased” is an asset or claim to a certain amount of silver or gold. So essentially, in an unallocated account you are promised a defined amount of silver or gold. (“Your” metal is simply a liability on the balance sheet of the bank or company). There may or may not be physical metal held to back the purchase and if there were it could conceivably be leased out to generate interest for the bank or company with the expectation of it being returned if needed. What this means is, you could find yourself standing in line with all of the other unsecured creditors in the event of financial problems or insolvency of the purveyors of this type of account.

In the highly unlikely instance that OWNx is unable to replenish “big bar” inventory at a given time, OWNx would inform all account holders and temporarily suspend all scheduled incoming funding until the situation was resolved. (Remember as well, YOU have complete control to change or remove your scheduled purchases via OWNx.com at any time) This would NOT affect your metal held in custody by the depository. Your purchased silver and/or Gold would be held safely in the depository until you submit instructions via OWNx.com. When silver or gold availability is restored, we would notify all clients allowing you to re-activate your schedules.
No. This must be done through a will just like any other physical asset you own.
Please fax us the following at 888-473-5891:

– The first page of the trust agreement
– Signature page
– Government Issued ID

Once we review the documents we will email to let you know we have received them or if further information is needed.

CONTACT US

If your question was not answered above, please give us a call at 800-701-3546, or email us at service@ownx.com.